http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Mon, 26 Feb 2018 04:20:36 +1100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Tyranna Resources leveraged to exploration upside through more drilling ]]> http://www.proactiveinvestors.com.au/companies/news/191942/tyranna-resources-leveraged-to-exploration-upside-through-more-drilling-191942.html Tyranna Resources Ltd (ASX:TYX) shareholders will be exposed to further exploration upside as drilling has commenced at the Wilcherry joint venture project in South Australia.

Joint venture partner and operator, Alliance Resources (ASX:AGS), will target base metals in the regional reverse circulation (RC) drill program.

READ: Tyranna Resources gets busy as it progresses gold strategy

Tyranna has a 32.65% stake in Wilcherry which comprises seven exploration licences covering 1,400 square kilometres.

The project area is prospective for gold and base metals (including tin, zinc-lead-silver).

The highest priority exploration target is the Weednanna gold prospect.

In January, Alliance released high-grade gold results from its third phase of RC drilling at Weednanna including 35 metres at 3.65 g/t gold.

READ: Tyranna Resources' stake in gold prospect gaining in value as Weednanna delivers

During January, ground moving loop electromagnetic (MLEM) surveys to better define the previously identified conductors.

Fourteen MLEM targets were defined, eight of which will be drilled using an RC rig for 1,525 metres, and six will be drilled using a diamond rig for 1,960 metres.

The drilling will commence on MLEM target HP7 in the western part of the project area.

Drilling to also test Weednanna

The drill rig will then move to the Weednanna gold prospect to test the limits of the new Target 4 gold zone and to test a new gold target area.

It will then return to the regional targets to drill test the remainder of the MLEM anomalies for base metals.

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Wed, 21 Feb 2018 11:27:00 +1100 http://www.proactiveinvestors.com.au/companies/news/191942/tyranna-resources-leveraged-to-exploration-upside-through-more-drilling-191942.html
<![CDATA[News - Tyranna Resources raises $2.55 million in heavily oversubscribed placement ]]> http://www.proactiveinvestors.com.au/companies/news/191810/tyranna-resources-raises-255-million-in-heavily-oversubscribed-placement-191810.html Tyranna Resources Ltd (ASX:TYX) will use $2.55 million to be raised in a heavily oversubscribed placement to advance the newly acquired Eureka Gold Project in Western Australia.

There were 150 million shares placed at $0.017 per share in the capital raising managed by CPS Capital.

Placement includes options

The placement will also include the issue of one free attaching option for every two shares taken up, subject to shareholder approval.

Listed options are exercisable at $0.04 expiring on 6 October 2021.

The funds will be directed towards exploration at Eureka, acquisition costs for the project, new opportunities and working capital.

Strong support for placement

There was strong market and shareholder support for the capital raising and the four company directors intend to subscribe for $10,000 worth of shares each on the same terms.

The company intends to convene a general meeting to seek all necessary approvals shortly.

READ: Tyranna Resources gets busy as it progresses gold strategy

Tyranna has submitted a program of works to the Department of Mines to conduct a reverse circulation drilling program at Eureka.

The Eureka project is northwest of Kalgoorlie.

This program will follow-up historical bonanza gold hits 600 metres to the north of the Eureka pit.

These historical intersections include 4 metres at 134 g/t gold from 53 metres, 4 metres at 33.7 g/t from 42 metres and 1 metre at 25.5 g/t from 58 metres.

High priority targets

A comprehensive review of available geological and geophysical data has been completed and the company has identified several high priority targets.

The drilling is planned to confirm the historical results, the orientation and continuity of the mineralisation.

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Mon, 19 Feb 2018 14:10:00 +1100 http://www.proactiveinvestors.com.au/companies/news/191810/tyranna-resources-raises-255-million-in-heavily-oversubscribed-placement-191810.html
<![CDATA[News - Tyranna Resources looks to raise capital to fund resource definition and exploration ]]> http://www.proactiveinvestors.com.au/companies/news/191672/tyranna-resources-looks-to-raise-capital-to-fund-resource-definition-and-exploration-191672.html Tyranna Resources Ltd (ASX:TYX) is in a trading halt pending the company providing details of a capital raising.

The trading halt will remain in place until the earlier of the commencement of trading on Monday, February 19, 2018 or upon the company releasing details of the capital raising.

Injection of capital comes as company progresses several projects

With Tyranna heavily involved in resource/reserve definition drilling, as well as exploration across a number of projects, a capital raising should come as no surprise.

The company has a diversified portfolio that includes its own projects and interests in other assets.

Tyranna’s key projects include the Jumbuck Gold Project joint-venture with WPG Resources (ASX:WPG) and the recently acquired producing Eureka Gold Project.

Tyranna strongly leveraged to healthy gold price

While Tyranna has a diversified range of assets, its commodity focus is very much on gold.

READ: Tyranna Resources gets busy as it progresses gold strategy ]]>
Thu, 15 Feb 2018 08:59:00 +1100 http://www.proactiveinvestors.com.au/companies/news/191672/tyranna-resources-looks-to-raise-capital-to-fund-resource-definition-and-exploration-191672.html
<![CDATA[News - Tyranna Resources director supports gold strategy through off-market purchase ]]> http://www.proactiveinvestors.com.au/companies/news/191671/tyranna-resources-director-supports-gold-strategy-through-off-market-purchase-191671.html Tyranna Resources Ltd (ASX:TYX) non-executive director Joseph Pinto has demonstrated his confidence in the company’s gold strategy by increasing his indirect interest.

Pinto has made an off-market purchase of 6 million shares for total consideration of $94,000.

The interest is held through Admark Investments Pty Ltd (The Pinto Family A/C), of which Pinto has a relevant interest.

Through the indirect interest, he now holds more than 50 million shares and 882,353 options exercisable at $0.04 on or before 6 October 2021.

Major supporter of Tyranna

Pinto has been a major shareholder and supporter of Tyranna for several years and is also the major shareholder of Orinoco Gold Ltd (ASX:OGX).

Orinoco is a company in which Tyranna, through its wholly-owned subsidiary Trafford Resources, was a cornerstone investor and remains a substantial shareholder.

READ: Tyranna Resources gets busy as it progresses gold strategy

Tyranna has gold interests in South Australia and Western Australia as well as interests in Orinoco Gold and the Eric Sprott-backed Kairos Minerals Ltd (ASX:KAI).

The company has set the scene for a busy 2018 work program across its gold portfolio while its investments are increasing in value.

READ: Tyranna Resources to benefit from appointment of mining executive Geoffrey Clifford ]]>
Thu, 15 Feb 2018 08:37:00 +1100 http://www.proactiveinvestors.com.au/companies/news/191671/tyranna-resources-director-supports-gold-strategy-through-off-market-purchase-191671.html
<![CDATA[News - Tyranna Resources gets busy as it progresses gold strategy ]]> http://www.proactiveinvestors.com.au/companies/news/191105/tyranna-resources-gets-busy-as-it-progresses-gold-strategy-191105.html Tyranna Resources Ltd (ASX:TYX) has set the scene for a busy 2018 work program across its portfolio of gold projects while its gold investments are increasing in value.

The drill bits are spinning at the company’s Eureka Gold Project and at the Jumbuck joint venture (JV) project with WPG Resources Ltd (ASX:WPG).

A new high-grade gold zone has been confirmed in recent drilling at the Weednanna prospect within the Wilcherry JV Project with Alliance Resources Limited (ASX:AGS).

Impressive grades from Cascavel

Tyranna’s investment value of $1.4 million in Orinoco Gold Ltd (ASX:OGX) is strengthening on impressive milling grades from the Cascavel project in Brazil.

The company’s investment value of $1.3 million in the Eric Sprott-backed Kairos Minerals Ltd (ASX:KAI) also looks set to bear fruit with promising results from conglomerate gold potential in Western Australia’s Pilbara region.

“2018 commences on a positive note”

Bruno Seneque, managing director, said: “2018 has really commenced on a positive note for Tyranna.

“We are witnessing excellent results coming out of Orinoco’s Cascavel, which has resulted in a significant increase in their share price, and as such our investment.

“Results out of the Weednanna prospect, part of the Wilcherry Project JV, have confirmed that we have a significant high grade gold project, and the JV is striving ahead laying the groundwork to production at this very exciting prospect.”

READ: Tyranna Resources eyes producer status at Eureka Gold Project

At Eureka, which Tyranna acquired in December 2017, a resource/reserve definition drilling program of circa 1,500-2,000 metres began on 23 January.

The program is expected to be completed by late March/early April and the aim is to bring the historical resource to JORC 2012 standard.

Geotechnical samples will be collected for structural information and metallurgical test work, followed by commencement of a mining feasibility study.

Drilling at Jumbuck JV

At the Jumbuck JV, a 1,000 metre drilling program is being carried out at Greenewood prospect, 37 kilometres north of WPG’s 1.2 million ounce Challenger Gold Mine in South Australia.

Tyranna’s target for Jumbuck is a 500,000 ounce resource and work will continue at several prospective targets to build on the 219,000 ounce inferred resource.

READ: Tyranna Resources gold strategy enhanced by positive test results

At Weednanna a 21-hole drilling program for 3,246 metres confirmed a new high-grade gold zone within the project complex with results including 35 metres at 3.65 g/t gold from 43 metres.

Further drilling is planned this month as the JV progresses Weednanna towards a resource definition.

Recent metallurgical test work results have confirmed positive gold recoveries.

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Mon, 05 Feb 2018 10:03:00 +1100 http://www.proactiveinvestors.com.au/companies/news/191105/tyranna-resources-gets-busy-as-it-progresses-gold-strategy-191105.html
<![CDATA[News - Tyranna Resources to benefit from appointment of mining executive Geoffrey Clifford ]]> http://www.proactiveinvestors.com.au/companies/news/190497/tyranna-resources-to-benefit-from-appointment-of-mining-executive-geoffrey-clifford-190497.html Tyranna Resources Ltd’s (ASX:TYX) appointment of Geoffrey Clifford as non-executive chairman brings an experienced mining campaigner to the board.

Clifford also has experience with companies that have successfully developed mines in various geological settings of Western Australia.

His experience should be advantageous for Tyranna given its diversified asset base in that state.

Background in gold mining is also important

Clifford is the non-executive chairman of Saracen Mineral Holdings Limited (ASX:SAR), and a non-executive director of Independence Group NL (ASX:IGO).

Independence Group is essentially a gold mining company through the Tropicana joint venture even though it has operations across base metals.

Saracen is a pure gold play with a portfolio of exploration and production assets.

As Tyranna transitions to a producer in the first half of 2018, bringing the Eureka gold project into production, Clifford’s experience should assist in maximising efficiencies.

READ: Tyranna Resources eyes producer status at Eureka Gold Project ]]>
Wed, 24 Jan 2018 09:08:00 +1100 http://www.proactiveinvestors.com.au/companies/news/190497/tyranna-resources-to-benefit-from-appointment-of-mining-executive-geoffrey-clifford-190497.html
<![CDATA[News - Tyranna Resources gold strategy enhanced by positive test results ]]> http://www.proactiveinvestors.com.au/companies/news/190273/tyranna-resources-gold-strategy-enhanced-by-positive-test-results-190273.html Tyranna Resources Ltd’s (ASX:TYX) joint venture partner has delivered positive test results on high grade gold samples from the Wilcherry project in South Australia.

The tests for Alliance Resources (ASX:AGS) show that gold mineralisation from Weednanna prospect is amenable to conventional grinding and cyanide recovery techniques.

These techniques delivered positive gold recoveries during the tests.

READ: Tyranna Resources' stake in gold prospect gaining in value as Weednanna delivers

Weednanna is the most advanced of the prospects at Wilcherry Hill, which is 61.36% owned by Alliance and 38.64% by Tyranna.

The test work was conducted by ALS Metallurgy Services Australia on two composite samples collected from Target 1 and Target 3.

It demonstrated fast leach kinetics with an average of 91% in 24 hours using a conventional grind size.

Cyanide and lime consumptions low

Cyanide and lime consumptions were low for both samples while there was no evidence of coarse or nuggetty gold.

This metallurgical test work and previous tests in 1999 indicate that gold mineralisation from Targets 1, 2 and 3 is amenable to conventional grinding and cyanide recovery.

Target 4 samples will be tested

Test work will now be undertaken on samples from the new Target 4 gold zone.

Three drilling programs were completed at Weednanna during 2017 for a total of 11,207 metres in four areas of discrete historical high grade gold intersections.

Close-spaced drilling is required for accurate resource definition.

The improved understanding of the mineralisation style is being used to better define the distribution of gold at Weednanna.

Wilcherry 2018 work program

The joint venture has planned a work program at Wilcherry in 2018 which comprises:

- Test the limits of the high grade gold shoot at Weednanna Target 4;

- Metallurgical tests on new Target 4 gold zone;

- Establish 3D geological model and estimate a mineral resource;

- Test new target areas at Weednanna using both the geological model and knowledge gained to date; and

- Test the next round of regional HEM/MLEM targets for base metals.

The Wilcherry project is within the southern part of the Gawler Craton in the northern Eyre Peninsula of South Australia.

It comprises seven exploration licences covering 1,198 square kilometres.

The project area is prospective for economic concentrations of gold and base metals, including tin and zinc-lead-silver.

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Fri, 19 Jan 2018 11:21:00 +1100 http://www.proactiveinvestors.com.au/companies/news/190273/tyranna-resources-gold-strategy-enhanced-by-positive-test-results-190273.html
<![CDATA[News - Tyranna Resources eyes producer status at Eureka Gold Project ]]> http://www.proactiveinvestors.com.au/companies/news/190203/tyranna-resources-eyes-producer-status-at-eureka-gold-project-190203.html Tyranna Resources Ltd (ASX:TYX) aims to transition from explorer to producer through its recently acquired Eureka Gold Mine located north of Kalgoorlie in Western Australia.

The project was acquired in December 2017, and drilling is expected to enhance the exploration upside outside the known pit mineralisation.

Grade control drilling for the planned cutback will commence immediately after the local contractor has completed mining within the pit.

Eureka has an historical non-JORC mineral resource of 451,000 tonnes at 4.4 g/t gold for 64,200 ounces of contained gold.

Production to extend depth of open pit by 20 metres

Eureka is currently being mined by a local contractor and production is scheduled to extend the depth of the current open pit by approximately 20 metres.

This is expected to be completed during the March quarter and Tyranna will receive a 4% net smelter royalty from the sale of gold during this campaign.

This will be used to offset the $3.2 million cash and equity acquisition price which involved an initial cash payment of $250,000.

A final cash payment of $1.1 million is to be made along with the issue of circa 94 million Tyranna shares.

New appointment provides a boost

Tyranna’s retention of highly experienced geological consultant Richard Maddocks also appears to have contributed to share price momentum today.

The company’s shares were up circa 20% in mid-morning trading, hitting a high of $0.025

Maddocks previously held senior management positions with companies such as Saracen Mineral Holdings (ASX:SAR), Troy Resources (ASX:TRY) and Placer Dome.

He was chief geologist at the 1.1 million ounce Paddington Gold Mine located 35 kilometres from Kalgoorlie, indicating he understands the characteristics of projects in Eureka’s region. 

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Thu, 18 Jan 2018 12:38:00 +1100 http://www.proactiveinvestors.com.au/companies/news/190203/tyranna-resources-eyes-producer-status-at-eureka-gold-project-190203.html
<![CDATA[News - Tyranna Resources' stake in gold prospect gaining in value as Weednanna delivers ]]> http://www.proactiveinvestors.com.au/companies/news/190139/tyranna-resources-stake-in-gold-prospect-gaining-in-value-as-weednanna-delivers-190139.html Tyranna Resources Ltd’s (ASX:TYX) 38.6% stake in the Weednanna Gold Prospect, part of the Wilcherry Project located in South Australia, is proving to be a valuable investment.

Exploration results feature an intersection of 35 metres at 3.65 g/t gold at a shallow depths of 43 metres.

Another 6 metre intersection at 13.6 g/t gold from 59 metres tends to support the possibility of identifying further shallow mineralisation.

Alliance Resources holds the majority 61.4% stake in the project

Following examination of data from the 21 hole 3.2 kilometre drilling program, Alliance Resources (ASX:AGS) expects to progress Weednanna towards a resource definition.

As a junior explorer, Tyranna is benefiting from the fact that Weednanna is the most advanced gold prospect at the Wilcherry Project Joint Venture.

Joint venture combining historical data with recent results in preparation for 2018 campaign

Historical exploration targeted primary gold beneath coincident soil anomalies and magnetic highs, but Alliance is re-logging the data to construct a 3-D model.

The company’s improved understanding of the mineralisation style is being used to better define the distribution of the gold.

This will assist the joint-venture in progressing its 2018 exploration campaign, testing high-grade gold shoots as well as examining the prospect of base metal mineralisation.

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Wed, 17 Jan 2018 12:17:00 +1100 http://www.proactiveinvestors.com.au/companies/news/190139/tyranna-resources-stake-in-gold-prospect-gaining-in-value-as-weednanna-delivers-190139.html
<![CDATA[News - Tyranna Resources completes capital raising to support Jumbuck exploration ]]> http://www.proactiveinvestors.com.au/companies/news/188911/tyranna-resources-completes-capital-raising-to-support-jumbuck-exploration-188911.html Tyranna Resources Ltd (ASX:TYX) has completed a capital raising program and the majority of the $2.54 million raised will advance exploration of the Jumbuck Gold Project in South Australia.

Tyranna has also issued 14 million shares at $0.017 per share as part consideration for the recent $3.2 million acquisition of the Eureka Gold Project near Kalgoorlie in Western Australia.

The acquisition includes payment of $250,000 on executing the sale agreement followed by the issue of Tyranna shares worth $1.6 million, and a cash payment of $1.35 million on completion.

WATCH: Tyranna's latest acquisition will provide a cash generating asset to fund exploration

Eureka was acquired from Central Iron Ore Ltd (CVE:CIO).

Tyranna will receive a royalty equal to 4% of the net smelter return generated from the sale of gold and or any other minerals.

READ: Tyranna Resources transitioning from development to mining ahead of reserves update

The Eureka mine has now transitioned from development to mining operations, which will provide Tyranna with ongoing cash flow.

Production is scheduled to extend the depth of the current open pit by circa 20 metres and will be completed during the March 2018 quarter.

Once this phase of mining is completed, Tyranna will estimate an updated ore reserve with the aim of recommencing full-scale mining, pending the results of a feasibility study.

First smelter royalty payment received

Mining activities have triggered a payment of $250,000 from the local contractor, being a pre-payment of the 4% net smelter royalty.

The cash flow will help to fund exploration activities at the Jumbuck project in the northern Gawler block of South Australia.

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Mon, 18 Dec 2017 10:16:00 +1100 http://www.proactiveinvestors.com.au/companies/news/188911/tyranna-resources-completes-capital-raising-to-support-jumbuck-exploration-188911.html
<![CDATA[News - Tyranna Resources transitioning from development to mining ahead of reserves update ]]> http://www.proactiveinvestors.com.au/companies/news/188763/tyranna-resources-transitioning-from-development-to-mining-ahead-of-reserves-update-188763.html Tyranna Resources Ltd's (ASX:TYX) Eureka Gold Mine located near Kalgoorlie has transitioned from development to mining operations.

Production is scheduled to extend the depth of the current open pit by circa 20 metres and will be completed during the March 2018 quarter.

Once this phase of mining is completed, Tyranna will estimate an updated Ore Reserve with the aim of recommencing mining, pending the results of a feasibility study.

Prepayment of net smelter royalty received

Mining activities at Eureka have triggered a payment of $250,000 from the local contractor, being a pre-payment of the 4% net smelter royalty generated from the sale of any gold.

Tyranna acquired the Eureka project from Central Iron Ore Ltd (CVE:CIO).

Royalty payments assist in offsetting cash consideration of acquisition price

A component of the consideration for the acquisition includes a royalty receivable from the local contractor to be offset against the cash consideration of the total acquisition.

The total consideration for Eureka was $3.2 million comprised of $1.6 million cash and $1.6 million payable in shares in Tyranna at a deemed price of $0.017 per share.

Drilling to start within the next month leading to mining feasibility study

Tyranna has submitted a program of works for a reverse circulation (RC) drill program for 1,500 metres.

Drilling is expected to commence in December 2017 or January 2018 with the aim of bringing the historic mineral resource in compliance with JORC 2012 standards.

Upon receipt of the drill results, Tyranna will commence mining feasibility study to evaluate the possibility of mining and toll treating to nearby processing mills.

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Thu, 14 Dec 2017 11:16:00 +1100 http://www.proactiveinvestors.com.au/companies/news/188763/tyranna-resources-transitioning-from-development-to-mining-ahead-of-reserves-update-188763.html
<![CDATA[Media files - Tyranna's latest acquisition will provide a cash generating asset to fund exploration ]]> http://www.proactiveinvestors.com.au/companies/stocktube/8470/tyranna-s-latest-acquisition-will-provide-a-cash-generating-asset-to-fund-exploration-8470.html Mon, 04 Dec 2017 20:00:00 +1100 http://www.proactiveinvestors.com.au/companies/stocktube/8470/tyranna-s-latest-acquisition-will-provide-a-cash-generating-asset-to-fund-exploration-8470.html <![CDATA[News - Tyranna Resources transitioning from gold explorer to producer through acquisition ]]> http://www.proactiveinvestors.com.au/companies/news/188087/tyranna-resources-transitioning-from-gold-explorer-to-producer-through-acquisition-188087.html Tyranna Resources Ltd (ASX:TYX) is acquiring the advanced Eureka Gold Project, located 50 kilometres north of Kalgoorlie in Western Australia, from Central Iron Ore Ltd (CVE:CIO).

The acquisition is expected to provide Tyranna with a cash generating asset which can be used to fund its exploration activities at the Jumbuck Gold Project in the northern Gawler block of South Australia.

READ: Tyranna Resources’ drilling to target Challenger-type gold in South Australia

The Eureka Gold Project area includes the Eureka Open Pit previously mined by Australian company West Coast Holdings Ltd during 1985 and 1986.

The project has a historical resource of 451,000 tonnes at 4.4 g/t gold for 64,200 ounces of contained gold.

Production plan at the Eureka open cut gold mine

The Eureka open cut mine is currently being developed by a local contractor and it is expected that production will commence early this month.

Production is scheduled to extend the depth of the current open pit by circa 20 metres during the March 2018 quarter.

Once this phase of mining is completed, Tyranna will estimate an updated ore reserve with the aim of recommencing mining pending the results of a feasibility study.

Consideration for the acquisition

The acquisition of the Eureka Gold Project is for a total consideration of $3.2 million.

This includes a cash payment of $250,000 on executing the sale agreement followed by the issue of Tyranna shares worth $1.6 million, and a cash payment of $1.35 million on completing the acquisition.

As part of the acquisition, Tyranna will receive a royalty equal to 4% of the net smelter return generated from the sale of gold and or any other minerals.

All royalty receipts will be used to offset the acquisition consideration. On commencement of production, Tyranna will receive $250,000 as a prepayment of this royalty.

Approvals submitted for resource drilling to start this month

Central Kalgoorlie Gold Mines, an Australian company, completed several drilling programs in around 2002 to investigate extensions of mineralisation beneath and along strike from the existing pit.

The programs provided data for an evaluation of the potential for a cut back of the existing pit, with several significant drill hole intersections.

Tyranna has submitted a program of works for a 1,500 metre reverse circulation drill program.

The drilling is expected to commence this month with the aim to bring the historic gold resource in compliance with JORC 2012. The drilling will also provide samples for geotechnical and metallurgical test work.

Upon receipt of the drill results, Tyranna will commence a mining feasibility study to evaluate the possibility of mining and toll treating to nearby processing mills.

WATCH: Tyranna's latest acquisition will provide a cash generating asset to fund exploration ]]>
Fri, 01 Dec 2017 11:36:00 +1100 http://www.proactiveinvestors.com.au/companies/news/188087/tyranna-resources-transitioning-from-gold-explorer-to-producer-through-acquisition-188087.html
<![CDATA[News - Tyranna Resources drill results continue to grow gold system ]]> http://www.proactiveinvestors.com.au/companies/news/188017/tyranna-resources-drill-results-continue-to-grow-gold-system-188017.html Tyranna Resources Ltd (ASX:TYX) continues to benefit from positive drill results received from the Weednanna Gold Prospect within the Wilcherry Project Joint Venture in South Australia.

Latest assay results include 16 metres at 22.11 g/t gold from 104 metres and 48 metres at 2.37 g/t gold from 44 metres.

READ: Tyranna Resources set to expand portfolio

Tyranna has a 38.64% equity stake in the project alongside operator Alliance Resources Limited (ASX:AGS).

The results continue to support the notion that Weednanna is a growing gold system that demonstrates significant potential for the discovery of further high grade gold shoots.

Further drilling is planned in February 2018

The reverse circulation drilling program, completed in early November, was designed to define the geometry of Targets 1, 2 and 3 with step-out drilling and to test the new Target 4.

A total of 21 reverse circulation holes were drilled for 3,246 metres.

Seven holes were drilled at Targe 1, five holes at Target 2, four holes at Targe 3 and five holes at Target 4.

First regional targets tested

In addition, drilling of first four regional electromagnetic targets was completed.

A total of six reverse circulation holes were drilled for 1,140 metres at the targets to test for base metals.

One hole resulted with 3 metres at 0.4% zinc from 159 metres depth.

This highly anomalous zinc found at the end of hole warrants further work in 2018.

Another hole only analysed for graphite produced 39 metres at 8.0 % total graphitic carbon (TGC) from 116 metres.

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Thu, 30 Nov 2017 16:07:00 +1100 http://www.proactiveinvestors.com.au/companies/news/188017/tyranna-resources-drill-results-continue-to-grow-gold-system-188017.html
<![CDATA[News - Tyranna Resources set to expand portfolio ]]> http://www.proactiveinvestors.com.au/companies/news/187934/tyranna-resources-set-to-expand-portfolio-187934.html Tyranna Resources Ltd (ASX:TYX) has a focus on gold exploration in South Australia, and is currently undertaking a diamond drilling program at the Jumbuck Gold Project.

READ: Tyranna Resources’ drilling to target Challenger-type gold in South Australia

Tyranna is set to increase its portfolio and has a project acquisition on the table, with the ASX granting a trading halt to prepare the next details.

The halt will remain in place until the opening of trade on Friday 1st December 2017, or earlier if an announcement is made to the market.

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Wed, 29 Nov 2017 09:45:00 +1100 http://www.proactiveinvestors.com.au/companies/news/187934/tyranna-resources-set-to-expand-portfolio-187934.html
<![CDATA[News - Tyranna Resources’ drilling to target Challenger-type gold in South Australia ]]> http://www.proactiveinvestors.com.au/companies/news/187792/tyranna-resources-drilling-to-target-challenger-type-gold-in-south-australia-187792.html Tyranna Resources Ltd (ASX:TYX) is commencing a diamond drilling program at the Greenwood Gold Prospect, part of the larger Jumbuck Gold Project in South Australia.

Jumbuck is part of the Western Gawler Craton Joint Venture which includes Tyranna (75%) and WPG Resources (ASX:WPG) (25%).

Circa 1,000 metres of diamond drilling will follow up Tyranna’s grass roots gold discovery at Greenwood, located 37 kilometres north of the Challenger Gold Mine owned and operated by WPG.

Tyranna is targeting high-grade Challenger type structures and shoots at Greenwood.

Recent high grade reverse circulation drilling results from the Greenwood Gold Prospect include:

- 22 metres at 4.03 g/t gold from 50 metres, including 1 metre at 20.4 g/t gold from 51 metres; and
- 10 metres at 5.16 g/t gold from 31 metres, including 1 metre at 29.4 g/t gold from 36 metres.

Tyranna has planned 6 diamond core holes through to March 2018 with a break over the Christmas period.

Meanwhile, the company continues to benefit from investor demand for companies exploring for conglomerate-hosted gold in the Pilbara region of Western Australia.

READ: Tyranna Resources shares surge as conglomerate gold rush continues

The company has exposure to the conglomerate gold rush as it is the largest shareholder in Kairos Minerals (ASX:KAI).

Interestingly, Tyranna is also a major shareholder in Orinoco Gold (ASX:OGX) which recently confirmed significant conglomerate-hosted gold potential over 16 kilometres of strike at its Eliseo Project in Brazil.

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Mon, 27 Nov 2017 12:41:00 +1100 http://www.proactiveinvestors.com.au/companies/news/187792/tyranna-resources-drilling-to-target-challenger-type-gold-in-south-australia-187792.html
<![CDATA[News - Tyranna Resources continues to drill high-grade gold near Challenger mine ]]> http://www.proactiveinvestors.com.au/companies/news/187119/tyranna-resources-continues-to-drill-high-grade-gold-near-challenger-mine-187119.html Tyranna Resources Ltd (ASX:TYX) is continuing to receive high-grade gold results from drilling at the Greenwood Gold Prospect, part of the larger Jumbuck Gold Project in South Australia.

Jumbuck is part of the Western Gawler Craton Joint Venture which includes Tyranna (75%) and WPG Resources (ASX:WPG) (25%).

The reverse circulation drill holes were completed at Greenwood, located circa 37 kilometres north of the Challenger Gold Mine, which is owned and operated by WPG.

Tyranna has now completed the drilling at Greenewood which comprised of 39 holes for 2,340 metres.

Of note is the outstanding new result of 10 metres at 5.16 g/t gold from 31 metres in the primary zone.

This hole was drilled to intersect the lithological structure similar to a previous hole which intersected 8 metres at 3.35 g/t gold from 55 metres in the primary zone.

Tyranna is now planning diamond drilling to test the area around the new intersection to confirm the existence of a repeat high grade pipe like structure similar to the previous discovery.

This work will be planned for the first half of 2018 following a diamond drilling program in mid-November 2017.

Meanwhile, Tyranna continues to benefit from investor demand for companies exploring for conglomerate-hosted gold in the Pilbara region of Western Australia.

READ NOW: Tyranna Resources shares surge as conglomerate gold rush continues

The company has exposure to the conglomerate gold rush as it is the largest shareholder in Kairos Minerals (ASX:KAI).

Interestingly, Tyranna is also a major shareholder in Orinoco Gold (ASX:OGX) which recently confirmed significant conglomerate-hosted gold potential over 16 kilometres of strike at its Eliseo Project in Brazil.

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Mon, 13 Nov 2017 14:33:00 +1100 http://www.proactiveinvestors.com.au/companies/news/187119/tyranna-resources-continues-to-drill-high-grade-gold-near-challenger-mine-187119.html
<![CDATA[News - Tyranna Resources shares surge as conglomerate gold rush continues ]]> http://www.proactiveinvestors.com.au/companies/news/186919/tyranna-resources-shares-surge-as-conglomerate-gold-rush-continues-186919.html Tyranna Resources Ltd (ASX:TYX) continues to benefit from investor demand for companies exploring for conglomerate-hosted gold in the Pilbara region of Western Australia.

The company’s shares closed 50% higher on Wednesday, at $0.027.

Tyranna has exposure to the conglomerate gold rush as it is the largest shareholder in Kairos Minerals (ASX:KAI).

Kairos is currently in trading halt pending the release of an announcement related to its recent activities in the Pilbara region of Western Australia.

READ NOW: Kairos Minerals has exploration results for Pilbara Gold

Kairos shares have lifted four-fold in the past six weeks as investors gain exposure to the conglomerate gold rush in the region.

Interestingly, Tyranna is also a major shareholder in Orinoco Gold (ASX:OGX) which today confirmed significant conglomerate-hosted gold potential over 16 kilometres of strike at its Eliseo Project in Brazil.

Orinoco’s field review has identified extensive strike length of mapped conglomerate which is prospective for Paleo-Placer “Witwatersrand-style” gold mineralisation.

The best-known conglomerate gold deposit in the world is the Witwatersrand of South Africa that has produced >1.5 billion ounces of gold, more than one third of all of the gold produced on Earth.

Orinoco’s review was prompted in part by the renewed level of global interest in conglomerate-hosted gold mineralisation as a result of several high-profile discoveries reported recently in the Pilbara region.

These include discoveries by Novo Resources Corp (CNSX:NVO), Artemis Resources (ASX: ARV) and De Grey Mining (ASX: DEG).

READ NOW: Tyranna Resources’ shares rise after high-grade hits at Greenewood Gold Prospect

Earlier this month, Tyranna confirmed a high grade gold structure at the Greenewood Gold Prospect within the Jumbuck Gold Project in South Australia.

The new reverse circulation drill holes were completed at Greenwood, located circa 37 kilometres north of the Challenger Gold Mine, which has produced 1.2 million ounces of gold over its life.

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Wed, 08 Nov 2017 16:35:00 +1100 http://www.proactiveinvestors.com.au/companies/news/186919/tyranna-resources-shares-surge-as-conglomerate-gold-rush-continues-186919.html
<![CDATA[News - Tyranna Resources’ shares rise after high-grade hits at Greenewood Gold Prospect ]]> http://www.proactiveinvestors.com.au/companies/news/186534/tyranna-resources-shares-rise-after-high-grade-hits-at-greenewood-gold-prospect-186534.html Tyranna Resources Ltd’s (ASX:TYX) drilling has confirmed a high grade gold structure at the Greenewood Gold Prospect within the Jumbuck Gold Project in South Australia.

The company’s shares are trading circa 14% higher intra-day, at $0.016.

Jumbuck Gold Project is part of the Western Gawler Craton Joint Venture which includes Tyranna (75%) and WPG Resources (ASX:WPG) (25%).

The new reverse circulation drill holes were completed at Greenewood, located circa 37 kilometres north of the Challenger Gold Mine, which is owned and operated by WPG.

Bruno Seneque, managing director, commented: “There is a lot of excitement in the Tyranna camp right now because this is what we have been looking for at Greenewood to confirm our confidence that we can identify a Challenger analogue deposit.

“Challenger has produced 1.2 million ounces of gold over its life and it would make geological sense that there are similar deposits nearby.

“Diamond drilling will now be directed with better geological modelling to increase this resource as we test the deeper and higher grade mineralisation down plunge on this structure.”

High-grade gold structure confirmed

Tyranna completed a successful drilling program in the first half of 2016, which yielded the first new discovery within the Jumbuck Gold Project area in over 15 years at the Greenewood gold prospect.

The latest drilling at Greenewood comprised of 23 holes for 1,470 metres, with assays pending for 16 holes.

The drilling highlights include 22 metres at 4.03 g/t gold from 50 metres (including 1 metre at 20.4 g/t gold from 51 metres and 1 metre at 36.9 g/t gold from 55 metres).

Importantly, the drill hole intersected pipe-like, plunging “Challenger” type structure into fresh rock.

Further drilling planned

Tyranna is now in the process of obtaining approvals to follow up this discovery with a number of planned diamond drill holes.

The diamond drilling will provide valuable structural data and is planned to commence in late November.

READ NEXT: Tyranna Resources drills high-grade gold near the Challenger Gold Mine

Last month, the company intersected wide, shallow gold from stage 2 drilling at the Typhoon Gold Prospect within the Jumbuck Gold Project.

Tyranna’s raw assay data results from stage 1 and 2 drilling at Typhoon is higher grade than the historical drilling intercepts.

Typhoon therefore has the potential to become a satellite mill feed located less than 40 kilometres from the Challenger Gold Operations.

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Wed, 01 Nov 2017 12:50:00 +1100 http://www.proactiveinvestors.com.au/companies/news/186534/tyranna-resources-shares-rise-after-high-grade-hits-at-greenewood-gold-prospect-186534.html
<![CDATA[News - Tyranna Resources’ partner Alliance Resources increases stake in Wilcherry ]]> http://www.proactiveinvestors.com.au/companies/news/186049/tyranna-resources-partner-alliance-resources-increases-stake-in-wilcherry-186049.html Tyranna Resources Ltd’s (ASX:TYX) partner Alliance Resources Ltd (ASX:AGS) has increased its interest in the Wilcherry Project joint venture in South Australia to 61.36%.

Tyranna has now diluted its interest in the Wilcherry Project exploration area to 38.64%.

The current change in interests is a result of Alliance sole funding expenditure for the quarter ended 30 September 2017.

Moreover, Tyranna has elected not to contribute to the FY2018 exploration program totalling circa $3.7 million.

The company’s shares closed circa 7% higher on Monday following the announcement.

READ NEXT: Tyranna Resources drills high-grade gold near the Challenger Gold Mine

Tyranna recently intersected wide, shallow gold zones from stage 2 drilling at the Typhoon Gold Prospect within the Jumbuck Gold Project in South Australia.

The Jumbuck Gold Project is a joint venture between Tyranna and WPG Resources (ASX:WPG), which owns and operates the Challenger gold mine and mill.

Significantly, Tyranna’s raw assay data results from stage 1 and 2 drilling at Typhoon is higher grade than the historical drilling intercepts.

Typhoon therefore has the potential to become a satellite mill feed located less than 40 kilometres from the Challenger Gold Operations.

Tyranna is currently sourcing a diamond drill rig for the next stage of drilling at the Jumbuck Gold Project.

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Tue, 24 Oct 2017 08:47:00 +1100 http://www.proactiveinvestors.com.au/companies/news/186049/tyranna-resources-partner-alliance-resources-increases-stake-in-wilcherry-186049.html
<![CDATA[News - Tyranna Resources drills high-grade gold near the Challenger Gold Mine ]]> http://www.proactiveinvestors.com.au/companies/news/185765/tyranna-resources-drills-high-grade-gold-near-the-challenger-gold-mine-185765.html Tyranna Resources Ltd (ASX:TYX) has intersected wide, shallow gold zones from stage 2 drilling at the Typhoon Gold Prospect within the Jumbuck Gold Project in South Australia.

The Jumbuck Gold Project is a joint venture between Tyranna and WPG Resources (ASX:WPG), which owns and operates the Challenger gold mine and mill.

The Typhoon gold prospect is located less than 40 kilometres from the Challenger Gold Mine, which has produced in excess of 1 million ounces of gold to date.

Bruno Seneque, managing director, commented: “Very pleasing in the grades reported at shallow depths and especially encouraging is the reporting of higher grade found at the deeper levels of the drill holes such as #004 in this program.

While the ground conditions below these levels was poor, diamond drilling will ensure clearer indications of the mineralisation below.”

“We see a lot of potential in the Typhoon prospect and are looking forward to revealing that.”

Wide, shallow gold zones intersected

Tyranna’s stage 2 drilling at Typhoon was planned to follow up on a successful stage 1 drill program which resulted in multiple drill holes intersecting shallow high-grade gold intercepts.

The stage 2 results conclude the drilling program in the southern portion of the Jumbuck gold project, following the completion of 25 holes at Typhoon for 2,274 metres.

Stage 2 drilling highlights include:

- 11 metres at 2.72 g/t gold from 35 metres including 2 metres at 6.31 g/t gold;
- 12 metres at 1.58 g/t gold from 30 metres including 3 metres at 3.41 g/t gold;
- 4 metres at 5.74 g/t gold from 23 metres; and
- 3 metres at 4.23 g/t gold from 23 metres including 1 metre at 10.00 g/t gold.

Satellite mill feed potential

Significantly, Tyranna’s raw assay data results from stage 1 and 2 drilling at Typhoon is higher grade than the historical drilling intercepts.

Typhoon therefore has the potential to become a satellite mill feed located less than 40 kilometres from the Challenger Gold Operations.

Future attempts to intercept deeper high-grade mineralisation will be made via the use of diamond drilling.

Tyranna is currently sourcing a diamond drill rig for the next stage of drilling at the Jumbuck Gold Project.

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Wed, 18 Oct 2017 13:57:00 +1100 http://www.proactiveinvestors.com.au/companies/news/185765/tyranna-resources-drills-high-grade-gold-near-the-challenger-gold-mine-185765.html
<![CDATA[News - Tyranna Resources partner readies drilling program in mineral-rich Gawler Craton ]]> http://www.proactiveinvestors.com.au/companies/news/185373/tyranna-resources-partner-readies-drilling-program-in-mineral-rich-gawler-craton-185373.html Tyranna Resources Ltd (ASX:TYX) (49%) is in a joint venture with Alliance Resources Ltd (ASX:AGS) (51%) at the Wilcherry Project, located in the mineral-rich Gawler Craton of South Australia.

Drilling of four regional ground moving loop electromagnetic targets is set to commence in mid-October.

Ground surveys over the remaining regional helicopter-borne electromagnetic conductors are also scheduled to commence next month to better define conductors for drill testing.

Alliance is cash-backed, as it held $9.5 million in cash at the end of June 2017, which is similar to its market cap.

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Wed, 11 Oct 2017 11:21:00 +1100 http://www.proactiveinvestors.com.au/companies/news/185373/tyranna-resources-partner-readies-drilling-program-in-mineral-rich-gawler-craton-185373.html
<![CDATA[News - Tyranna Resources shares in drilling success at Wilcherry Project ]]> http://www.proactiveinvestors.com.au/companies/news/185150/tyranna-resources-shares-in-drilling-success-at-wilcherry-project-185150.html Tyranna Resources (ASX:TYX) and its joint venture partner Alliance Resources (ASX:AGS) have received assay results from diamond drilling at their Wilcherry Project in South Australia.

During July and August, three diamond holes for 1,029 metres were drilled at the Zealous and Telephone Dam prospects to test electromagnetic (EM) conductors.

Best results include 12.7 metres at 3.9% lead, 0.2% zinc and 114 g/t silver from 65.8 metres at the Telephone Dam zinc-lead-silver prospect.

Furthermore, levels of up to 457 ppm copper were assayed at the Zealous tin prospect.

Four more EM target areas are planned to be reverse circulation drill tested during October, with the remainder in the first half of 2018.

Drill result details

Best results from Telephone Damn include:

- 12.7 metres at 3.9% lead, 0.2% zinc and 114 g/t silver from 65.8 metres including 5.6 metres at 6.8% lead, 0.2% zinc and 209 g/t silver.

Best results from Zealous include:

- 8 metres at 457ppm copper from 160.5 metres.

No significant tin results, however, it is uncertain if targeted conductors have been effectively tested.

Zealous remains an encouraging target for tin with historic intersections including 7metres at 3.16% tin from 52 metres and 5 metres at 2.29% tin from 128 metres.

Tyranna making large gains from investment

Tyranna has been booking some gains recently as it is the largest shareholder of Kairos Minerals Limited (ASX:KAI) with a holding of 31.3 million shares.

Shares in Kairos have more than tripled over the past month due to the increased global interest in conglomerate hosted gold in the Pilbara region.

READ: Tyranna Resources is leveraged to conglomerate gold

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Fri, 06 Oct 2017 09:28:00 +1100 http://www.proactiveinvestors.com.au/companies/news/185150/tyranna-resources-shares-in-drilling-success-at-wilcherry-project-185150.html
<![CDATA[News - Tyranna Resources is leveraged to conglomerate gold ]]> http://www.proactiveinvestors.com.au/companies/news/184767/tyranna-resources-is-leveraged-to-conglomerate-gold-184767.html Tyranna Resources (ASX:TYX) is well-positioned to benefit from recent investor interest in companies exploring for conglomerate-hosted gold in the Pilbara region of Western Australia.

This exposure comes from Tyranna being the largest shareholder of Kairos Minerals Limited (ASX:KAI) with a holding of 31.3 million shares.

Kairos’s extensive 1,158 square kilometre tenement portfolio in the Pilbara region has been a recent driver of its share price and consequently, Tyranna’s investment.

Karios closed trading yesterday at $0.066 valuing Tyranna’s shareholding at circa $2.06 million.

A recent presentation by Novo Resources Corp (CVE:NVO) at the Denver Gold Forum on its Purdy's Reward discovery, part of its joint venture with Artemis Resources (ASX:ARV) has driven international attention to the area.

As has the recent conglomerate gold discovery at the Loudens Patch prospect by De Grey Mining (ASX:DEG).

Kairos’s tenement portfolio in the Pilbara region contains an estimated 100-kilometre strike length of the prospective lower Fortescue Group Rocks.

This stratigraphic package is similar to that which hosts the discoveries reported by Novo and De Grey.

Kairos has also previously advised that it is planning to commence a field exploration program in the near future to further evaluate the potential of its tenements for conglomerate-hosted gold mineralisation.

SPP closing today

Tyranna shareholders will have until 5:00PM WST today to participate in the share purchase plan (SPP) that is currently open.

Under the SPP, eligible shareholders are able to apply for up to $15,000 worth of new shares priced at $0.017.

Shares under the SPP also come with an attaching 1:1 option exercisable at $0.04 and expiring in 4 years.

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Fri, 29 Sep 2017 08:42:00 +1000 http://www.proactiveinvestors.com.au/companies/news/184767/tyranna-resources-is-leveraged-to-conglomerate-gold-184767.html
<![CDATA[News - Tyranna Resources sets sight on the goldfields of Leonora ]]> http://www.proactiveinvestors.com.au/companies/news/183900/tyranna-resources-sets-sight-on-the-goldfields-of-leonora-183900.html Tyranna Resources Ltd (ASX:TYX) has acquired the Weebo Gold Exploration Project in the well-endowed goldfields of Leonora, Western Australia, which is host to 27 million ounces of known gold resources.

Tyranna’s findings from a recent desktop review of Weebo indicates that its geology is analogous to the nearby 2.3 million ounce Thunderbox gold deposit mined by Saracen Mineral Holdings (ASX:SAR).

The review of the Weebo Gold Project highlighted that two historic soil sampling campaigns stood out - both were gold-in-soil results.

Tyranna’s next phase of exploration at Weebo, which is anticipated to commence in October will consist of a scout air-core campaign of 21 holes for circa 1,000 metres.

The holes are located on three north-south orientated lines at a spacing of 50 metres, each line spaced 150 metres apart.

Interestingly, the drill spacing is based on the Thunderbox analogy, where the mineralised portion of the deposit was typically 30 metres wide.

Tyranna recently received strong market support for a two-stage capital raising program, with the new funds to advance exploration at the company’s key Jumbuck Gold Project in South Australia.

Firm commitments have been received for a placement at $0.017 to raise $1.7 million, which will include a 1 for 1 free attaching $0.04 option with a four year expiry from date of issue.

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Wed, 13 Sep 2017 17:31:00 +1000 http://www.proactiveinvestors.com.au/companies/news/183900/tyranna-resources-sets-sight-on-the-goldfields-of-leonora-183900.html
<![CDATA[News - Tyranna Resources opens Share Purchase Plan for South Australian gold ]]> http://www.proactiveinvestors.com.au/companies/news/183501/tyranna-resources-opens-share-purchase-plan-for-south-australian-gold-183501.html Tyranna Resources Ltd (ASX:TYX) is offering a Share Purchase Plan (SPP) which is capped at $1 million, on the same terms as the recent placement which raised $1.54 million before costs.

The SPP is offered at $0.017 and includes a 1 for 1 free attaching $0.04 option with a four year expiry from date of issue.

The offer will be open until the 29th September 2017.

Bruno Seneque, managing director, recently commented: "With drilling at Typhoon nearly finished, the Tyranna technical team will test their new approach to the geological model with drilling to continue at Greenewood.

"This is definitely an exciting time for Tyranna shareholders.

"We feel that we are now at a catalyst change in the development of this company and I look forward to updating our shareholders over the coming quarter."

READ NOW: Tyranna Resources drills for gold at Typhoon

The Typhoon gold prospect is located 35 kilometres from the operating Challenger Gold Mine, which is owned by Tyranna’s joint venture partner, WPG Resources (ASX:WPG).

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Wed, 06 Sep 2017 14:27:00 +1000 http://www.proactiveinvestors.com.au/companies/news/183501/tyranna-resources-opens-share-purchase-plan-for-south-australian-gold-183501.html
<![CDATA[News - Tyranna Resources' partner reveals broad zones of high-grade gold from Wilcherry ]]> http://www.proactiveinvestors.com.au/companies/news/183046/tyranna-resources-partner-reveals-broad-zones-of-high-grade-gold-from-wilcherry-183046.html Tyranna Resources Ltd's (ASX:TYX) (49%) joint venture partner Alliance Resources Ltd (ASX:AGS) (51%) has delivered some high-grade gold intercepts from reverse circulation drilling at the Weednanna gold prospect.

The prospect is part of the Wilcherry Project in South Australia.

The importance of the results is their broad, near-surface nature, such as: 60 metres at 5.65g/t gold from 47 metres; 30 metres at 2.95g/t gold from 53 metres; and 41 metres at 1.62g/t gold from 44 metres.

These were supported by high grade intersections, including: 16 metres at 7.66g/t gold from 81 metres; and 7 metres at 12.15g/t gold from 153 metres.

The results confirm the high-grade gold shoots are ovoid to rod-like in geometry and have continuity along strike.

The program covered 25 holes for just over 4000 metres, with further drilling planned at Weednanna in October 2017.

Tyranna and Alliance

Alliance also holds a direct 17.8% stake in Tyranna's listed equity.

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Tue, 29 Aug 2017 08:37:00 +1000 http://www.proactiveinvestors.com.au/companies/news/183046/tyranna-resources-partner-reveals-broad-zones-of-high-grade-gold-from-wilcherry-183046.html
<![CDATA[News - Tyranna Resources boosts bank balance to advance Jumbuck Gold Project ]]> http://www.proactiveinvestors.com.au/companies/news/182893/tyranna-resources-boosts-bank-balance-to-advance-jumbuck-gold-project-182893.html Tyranna Resources Ltd (ASX:TYX) has received strong market support for a two-stage capital raising program, with the new funds to advance exploration at the company’s key Jumbuck Gold Project in South Australia.

Firm commitments have been received for a placement at $0.017 to raise $1.7 million, which will include a 1 for 1 free attaching $0.04 option with a four year expiry from date of issue.

Tyranna will now open a Share Purchase Plan (SPP) for eligible shareholders to purchase up to $15,000 or shares, with the SPP capped at $1 million.

Bruno Seneque, managing director, commented:

"With drilling at Typhoon nearly finished, the Tyranna technical team will test their new approach to the geological model with drilling to continue at Greenewood.

"This is definitely an exciting time for Tyranna shareholders.

"We feel that we are now at a catalyst change in the development of this company and I look forward to updating our shareholders over the coming quarter."

READ NOW: Tyranna Resources drills for gold at Typhoon

The Typhoon gold prospect is located 35 kilometres from the operating Challenger Gold Mine, which is owned by Tyranna’s joint venture partner, WPG Resources (ASX:WPG).

The drilling at Typhoon follows up a successful first phase drill program which resulted in multiple drill holes intersecting shallow high grade gold intercepts.

Assays from phase one drilling included intersections of: 13 metres at 3.88 g/t gold from 47 metres, and featured grades of up to 1 metre at 50.7 g/t gold.

Chairman Joseph Pinto shows support

Joseph Pinto is the company's chairman and director, and he will further align himself with the success of the company by subscribing for in the placement up to $130,000 worth of shares.

This would take Pinto's stake past 40 million shares.

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Thu, 24 Aug 2017 12:06:00 +1000 http://www.proactiveinvestors.com.au/companies/news/182893/tyranna-resources-boosts-bank-balance-to-advance-jumbuck-gold-project-182893.html
<![CDATA[News - Tyranna Resources to lift cash position for gold hunt in South Australia ]]> http://www.proactiveinvestors.com.au/companies/news/182760/tyranna-resources-to-lift-cash-position-for-gold-hunt-in-south-australia-182760.html Tyranna Resources Ltd (ASX:TYX) is heading to market with a capital raising, and the ASX has granted the company a trading halt to prepare.

Tyranna recently commenced follow-up drilling at the Typhoon gold prospect within the Western Gawlor Craton Joint Venture located in South Australia.

Significantly, the Typhoon gold prospect is located 35 kilometres from the operating Challenger Gold Mine, which is owned by Tyranna’s joint venture partner, WPG Resources (ASX:WPG).

The drilling at Typhoon follows up a successful first phase drill program which resulted in multiple drill holes intersecting shallow high grade gold intercepts.

Assays from phase one drilling included intersections of: 13 metres at 3.88 g/t gold from 47 metres, and featured grades of up to 1 metre at 50.7 g/t gold.

The halt will remain in place until the opening of trade on Thursday 26th August 2017, or earlier if an announcement is made to the market.

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Tue, 22 Aug 2017 10:13:00 +1000 http://www.proactiveinvestors.com.au/companies/news/182760/tyranna-resources-to-lift-cash-position-for-gold-hunt-in-south-australia-182760.html
<![CDATA[News - Tyranna Resources drills for gold at Typhoon ]]> http://www.proactiveinvestors.com.au/companies/news/182015/tyranna-resources-drills-for-gold-at-typhoon-182015.html Tyranna Resources (ASX:TYX) has commenced follow-up drilling at the Typhoon gold prospect within the Western Gawlor Craton Joint Venture located in South Australia.

Significantly, the Typhoon gold prospect is located 35 kilometres from the operating Challenger Gold Mine, which is owned by Tyranna’s joint venture partner, WPG Resources (ASX:WPG).

The drilling at Typhoon follows up a successful first phase drill program which resulted in multiple drill holes intersecting shallow high grade gold intercepts.

Assays from phase one drilling included intersections of 13 metres at 3.88 g/t gold from 47 metres depth and featured grades of up to 1 metre at 50.7 g/t gold.

Follow-up drilling plan

At the Typhoon prospect, 2,000 metres of reverse circulation drilling will focus on:

- Strike extensions to the north-east with planned holes 21 to 33;
- Strike extensions to the south-west with planned holes 34 to 42; and
- Testing the parallel structure to the south with planned holes 43 and 44. 
The Typhoon gold prospect ranks as one of Tyranna’s most promising gold prospects due to the high gold grades encountered in its maiden drilling program in the first half of 2017.

These drilling results have confirmed the north-east/south-west structure by the underlying magnetic feature is strong vector for gold mineralisation.

Western Gawler Craton Joint Venture

The joint venture is between Tyranna (72%) and WPG Resources (28%), who owns and operates the Challenger gold mine and mill.

Tyranna aims to aim to explore for high grade open pit, gold mineralisation within trucking distance of the Challenger gold operations.

The company plans to target the more advanced gold prospects which are situated within 50 kilometres of the Challenger gold processing operations and increase the economic scale of these prospects via focused and extensive exploration drilling.

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Mon, 07 Aug 2017 10:04:00 +1000 http://www.proactiveinvestors.com.au/companies/news/182015/tyranna-resources-drills-for-gold-at-typhoon-182015.html
<![CDATA[News - Tyranna Resources' Bruno Seneque discussed gold discovery plan at Proactive's CEO Sessions ]]> http://www.proactiveinvestors.com.au/companies/news/181482/tyranna-resources-bruno-seneque-discussed-gold-discovery-plan-at-proactive-s-ceo-sessions-181482.html Tyranna Resources' (ASX:TYX) managing director, Bruno Seneque, joined Proactive's CEO Sessions in Melbourne on Tuesday 25th July and Sydney on Wednesday 26th July.

Tyranna controls over 9700 square kilometres of ground surrounding the Challenger Gold Mine in South Australia.

The company is set for strong news flow in the coming months, with drilling commencing at the Typhoon prospect in August, followed by drilling at Greenewood in September.

ACCESS THE FULL PRESENTATION HERE

 

 

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Thu, 27 Jul 2017 11:27:00 +1000 http://www.proactiveinvestors.com.au/companies/news/181482/tyranna-resources-bruno-seneque-discussed-gold-discovery-plan-at-proactive-s-ceo-sessions-181482.html
<![CDATA[News - Tyranna Resources plans expansion to gold resource ]]> http://www.proactiveinvestors.com.au/companies/news/181245/tyranna-resources-plans-expansion-to-gold-resource-181245.html Tyranna Resources (ASX:TYX) will commence a drill program in early August 2017 with the objective of increasing the gold resource at the Jumbuck Gold Project in South Australia.

The 5,000-metre reverse circulation program will target the company’s priority prospects - Typhoon and Greenewood.

The current resource stands at 219,000 ounces of gold and Tyranna aims to increase the deposit towards the exploration target of 500,000 ounces of gold.

This richly endowed group of tenements surrounds the operating Challenger Gold Mine which is operated by Tyranna’s joint venture partner, WPG Resources (ASX:WPG).

Tyranna’s strategy is to build its gold endowment so it’s sufficient to support a standalone gold project.

Bruno Seneque, managing director, commented

“These drill results to date at our target prospects within Jumbuck clearly indicate that we have high grade and plentiful gold mineralisation.

“Drilling to date has enhanced our knowledge of the geological settings and assisted us to effectively adjust our drill program to focus on building our gold resource.

“We know we have a good project on our hands and now we are getting down to the business of extracting that value by building the resource.”

Drilling following up a successful 2016 campaign

The Jumbuck Gold Project consists of 9,762 square kilometres of tenements, some of which are held in joint venture with WPG Resources (Tyranna: 72%, WPG: 28%).

The Typhoon and Greenewood prospects are held within joint venture tenements.

A total of 14,389 metres was drilled at the Jumbuck Gold Project during the 2016 calendar year with the aim to explore for high-grade open pit, gold mineralisation within trucking distance of the Challenger gold operations.

2,000 metres planned at Typhoon

The Typhoon gold prospect ranks as one of Tyranna’s most promising gold prospects due to the high gold grades encountered in its maiden drilling program.

The phase 2 program of 2,000 metres of reverse circulation drilling will focus on strike extensions and testing a parallel structure.

Significant assays from phase 1 include:

- 1 metre at 50.7 g/t gold from 71 metres;
- 13 metres at 3.88 g/t gold from 47 metres;
- 5 metres at 2.55 g/t gold from 70 metres; and
- 14 metres at 1.24 g/t  gold from 32 metres.

3,000 metres planned at Greenewood

The Greenewood gold prospect will be drilled with 3,000 metres of reverse circulation drilling after Typhoon to test strike continuation, a parallel lode and a geochemical anomaly.

Significant drill results during the 2016 calendar year included:

- 1 metre at 20.55 g/t gold from 47 metres;
- 3 metres at 8.26 g/t gold from 26 metres;
- 14 metres at 5.79 g/t gold from 35 metres; and
- 1 metre at 23.4 g/t gold from 27 metres.

Drill results to be used to calculate a resource upgrade

A resource upgrade will be calculated after the completion of drilling in early October 2017.

Tyranna entered the September quarter with a cash balance $1.4 million.

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Fri, 21 Jul 2017 09:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/181245/tyranna-resources-plans-expansion-to-gold-resource-181245.html
<![CDATA[News - Tyranna Resources brings gold discovery streak to Proactive's CEO Sessions ]]> http://www.proactiveinvestors.com.au/companies/news/181135/tyranna-resources-brings-gold-discovery-streak-to-proactive-s-ceo-sessions-181135.html Tyranna Resources Ltd (ASX:TYX) has been delivering some bonanza grade results from drilling at the Western Gawler Craton Joint Venture recently, such as: 1 metre at 50.7g/t gold from 71 metres.

Broader intersections include: 13 metres at 3.88g/t gold from 47 metres; 5 metres at 2.55g/t gold from 70 metres; and 14 metres at 1.24g/t gold from 32 metres.

Tyranna's partner is WPG Resources Ltd (ASX: WPG), the owner of the Challenger Gold operations located just 39 kilometres to the south.

Drilling will be ongoing in the second half of 2017.

Find out more from Bruno Seneque at Proactive's CEO Sessions.

Click below to register by email

- Melbourne: Tuesday 25th July.
- Sydney: Wednesday 26th July.
- Email Pauline here.
- Call office on (02) 9280 0700.

Presenter list

- Sayona Mining (ASX:SYA): Corey Nolan
- Lithium Power International (ASX:LPI): Andrew Phillips
- Elementos (ASX:ELT): Chris Dunks
- Tyranna Resources (ASX:TYX): Bruno Seneque
- Argent Minerals (ASX:ARD): David Busch (Melbourne only)
- Bryah Resources (ASX:BYH): Neil Marston (Sydney only)

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Thu, 20 Jul 2017 08:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/181135/tyranna-resources-brings-gold-discovery-streak-to-proactive-s-ceo-sessions-181135.html
<![CDATA[News - Tyranna Resources eyes increased gold resource at Jumbuck ]]> http://www.proactiveinvestors.com.au/companies/news/178947/tyranna-resources-eyes-increased-gold-resource-at-jumbuck-178947.html Tyranna Resources (ASX:TYX) has received high grade gold results from drilling at the Jumbuck Gold Project in the Northern Gawler Block of South Australia.

Tyranna is the manager of the Western Gawler Craton Joint Venture which includes WPG Resources (ASX:WPG) (Tyranna 72% - WPG 28%).

The companies have completed phase 1 drilling at the Typhoon and Monsoon gold prospects which are located circa 39 kilometres south of the Challenger Gold Mine.

Phase 1 drilling at Typhoon and Monsoon consisted of 65 reverse circulation holes for 5,214 metres.

High grade intercepts from the drilling at Typhoon include:

- 13 metres at 3.88 g/t gold from 47 metres including 4 metres at 10.18 g/t gold; and 
-  5 metres at 2.55 g/t gold from 70 metres including 1 metre at 7.5 g/t.

The drill assays from the Monsoon gold prospect is due in mid-June.

Tyranna is now in the process of submitting the initial samples for metallurgical test work to determine the suitability of leachable gold.

Drilling at Typhoon will resume in July 2017 and will focus on the strike extensions along the magnetic structure which is parallel to gold mineralisation intersected in recent drilling.

In January 2017, Tyranna revealed the maiden JORC 2012 inferred resource of 219,000 ounces of gold for the Jumbuck project.

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Thu, 08 Jun 2017 14:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/178947/tyranna-resources-eyes-increased-gold-resource-at-jumbuck-178947.html
<![CDATA[News - Tyranna Resources shares rise on maiden gold resource at Jumbuck ]]> http://www.proactiveinvestors.com.au/companies/news/172064/tyranna-resources-shares-rise-on-maiden-gold-resource-at-jumbuck-172064.html The company’s shares were last trading 11% up intra-day, at $0.03.

The Jumbuck Gold Project is situated in the Northern Gawler Block of South Australia and includes about 9,762 square kilometres of ground around Kingsgate Consolidated’s (ASX:KCN) Challenger Gold Mine.

A total of 14,389 metres was drilled at the project during 2016 with the aim to explore for high grade open pit, gold mineralisation within trucking distance of the Challenger gold operations.

The Challenger gold operations is owned and operated by Tyranna’s joint venture partner WPG Resources (ASX:WPG).

The maiden resource of 219,000 ounces of gold represents the completion of the initial phase toward a 500,000-ounce gold exploration target.

All deposits are interpreted to be open at depth and have excellent potential to increase the resource with future drilling.

Tyranna is planning an exploration program for 2017 comprising a drilling campaign of 15,000 – 20,000 metres at Jumbuck, which is planned to commence in March 2017.

The company will initiate the new phase of drilling with a 2,500 metres campaign at the Typhoon and Monsoon prospects to test near surface (>10 metres) high grade targets generated by previous explorers.

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Tue, 24 Jan 2017 11:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/172064/tyranna-resources-shares-rise-on-maiden-gold-resource-at-jumbuck-172064.html
<![CDATA[News - Tyranna Resources Ltd has material transaction on the table ]]> http://www.proactiveinvestors.com.au/companies/news/166204/tyranna-resources-ltd-has-material-transaction-on-the-table-71139.html Tyranna Resources Ltd (ASX:TYX) is preparing to divulge details of a material project related transaction, with the ASX granting the company a trading halt to prepare.

The halt will remain in place until the opening of trade on Friday 23rd September 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 21 Sep 2016 14:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/166204/tyranna-resources-ltd-has-material-transaction-on-the-table-71139.html
<![CDATA[News - Tyranna Resources Ltd gets ready to raise for tin drilling ]]> http://www.proactiveinvestors.com.au/companies/news/146797/tyranna-resources-ltd-gets-ready-to-raise-for-tin-drilling-70210.html Tyranna Resources Ltd (ASX:TYX) has been granted a trading halt by the ASX, pending details of a capital raising.

Tyranna will shortly commence a 600 metre drilling program at the Zealous Project, located in the company’s Wilcherry Hill Project in South Australia.

The halt will remain in place until the opening of trade on Friday 5th August 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 03 Aug 2016 10:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146797/tyranna-resources-ltd-gets-ready-to-raise-for-tin-drilling-70210.html
<![CDATA[News - Tyranna Resources Ltd to drill tin targets in Eyre Peninsula ]]> http://www.proactiveinvestors.com.au/companies/news/146796/tyranna-resources-ltd-to-drill-tin-targets-in-eyre-peninsula-70197.html Tyranna Resources Ltd (ASX:TYX) will shortly commence a 600 metre drilling program at the Zealous Project, located in the company’s Wilcherry Hill Project in the northern Eyre Peninsula.

Tyranna has secured $75,000 of assistance from the South Australian government’s PACE funding program which will allow the company to increase the drill metres in this campaign.

Previous drilling at Zealous has intersected attractive tin grades, which has led to the decision to test the down dip geology, since the deposit remains open at depth.

A 2012 drilling program discovered results as high as 7 metres at 3.28% tin from 52 metres.

Tyranna is also conducting a gold exploration program at the Jumbuck project, which covers about 8,000 square kilometres surrounding the 1 million ounce Challenger Mine in South Australia.

Under a JV with Challenger Gold Operations Pty Ltd, gold ore can be processed at the Challenger facility - Tyranna is the joint venture manager and holds a 59% equity stake in it.

The drill results in June from the Greenewood prospect at Jumbuck included 2 metres at 7.94 g/t gold from 41 metres.

Last week, the company reported four new intersections, each over 15 g/t gold, at the Camp Fire Bore Prospect.

Tyranna is currently preparing a comprehensive exploration program to extend and define the promising new gold discoveries at the Greenewood and Campfire Bore prospects.

It is anticipated that drilling will commence soon and be completed by November 2016.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 03 Aug 2016 08:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146796/tyranna-resources-ltd-to-drill-tin-targets-in-eyre-peninsula-70197.html
<![CDATA[News - Tyranna Resources Ltd makes gold discovery in South Australia ]]> http://www.proactiveinvestors.com.au/companies/news/146795/tyranna-resources-ltd-makes-gold-discovery-in-south-australia-68956.html Tyranna Resources Ltd (ASX:TYX) has moved closer to achieving a gold resource of over 0.5 million ounces by the end of 2016 with its new gold discovery at the Jumbuck Project in the Northern Gawler block of South Australia.

Reverse circulation (RC) drilling results from Tyranna’s Mainwood Prospect include 2 metres at 7.94 g/t gold from 41 metres, 3 metres at 2.45 g/t gold from 31 metres and 2 metres at 2.36 g/t gold from 30 metres.

This initial resource would form the basis of an initial 3 to 5 year mining plan providing the a platform for accelerated resource definition within the area targeting an overall gold resource of 2 to 3 million ounces in the medium term.

Adding upside, is that six of the seven advanced gold prospects form part of a joint venture with Challenger Gold Operations Pty Ltd, which has a gold plant within 50 kilometres of the Challenger gold processing plant.

Under a JV, gold ore can be processed at the Challenger facility whereby Tyranna is the joint venture manager and holds a 59% equity stake in it.

Located north of the main Mainwood gold mineralization, Greenewood could extend the latter’s strike length by over 800 metres.

Tyranna has completed half of its 42-hole RC drilling program at Mainwood. The remaining 21 holes are still being drilled, and on completion, the company will move its rig to the Camp Fire Bore Prospect.

It is possible that with the new find, Tyranna would be able to link the Mainwood Prospect, in the south west, to the Camp Fire Bore Prospect in the north.

Tyranna was created from the merger of Ironclad Mining (ASX:IFE) and Trafford Resources (ASX:TRF). The intention of the merger was to form a company that was adequately funded to execute effective exploration.

Tyranna's share price has doubled since January 2016.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 01 Jun 2016 13:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146795/tyranna-resources-ltd-makes-gold-discovery-in-south-australia-68956.html
<![CDATA[News - Tyranna Resources Ltd to gain from ramp up of Orinoco’s Casavel gold mine ]]> http://www.proactiveinvestors.com.au/companies/news/146794/tyranna-resources-ltd-to-gain-from-ramp-up-of-orinocos-casavel-gold-mine-68775.html Tyranna Resources Ltd (ASX:TYX) is set to benefit from the ramping up of exploration, in and around the Cascavel Gold Mine in Brazil by Orinoco Gold Ltd (ASX:OGX).

In addition to owning 5.58% equity in Orinoco, Tyranna holds performance shares and share options in the Perth-based Orinoco.

The plant construction at Cascavel is on track for commissioning next month. As a result, the focus is now centred on growing the operation and identifying new sources of ore in proximity to the plant.

The Cascavel Project hosts high-grade, structurally-controlled coarse gold shoots, where underground sampling has returned bonanza grades including 15 metres grading 88 grams of gold per tonne.

Cascavel represents a significant gold bearing system and the expansion of exploration will seek to unlock additional gold resources to expand the mine life.

Plans are in place to try to re-open the original shaft and take a large scale bulk sample. An earlier bulk sample of 2.5 tonnes returned a gold assay value of 27.2 g/t.

In addition, exploration drilling, in and around the mine, is about to commence. The drilling is to test for additional stacked vein systems and strike and dip extensions of the gold currently being mined.

In March, Tyranna had commenced its 2016 drilling program at the Jumbuck Gold Project in Gawler Craton, South Australia as part of a JV with Challenger Gold Operations Pty Ltd.

The aim of this drilling is to outline a near surface gold resource of more than 500,000 ounces of gold from seven advanced gold prospects, all of which are within 50 kilometres of the idled Challenger gold processing plant.

Tyranna shares have surged 89% since January 2016.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 24 May 2016 14:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146794/tyranna-resources-ltd-to-gain-from-ramp-up-of-orinocos-casavel-gold-mine-68775.html
<![CDATA[News - Tyranna Resources Ltd vends interest in Pilbara Lithium-Gold Project ]]> http://www.proactiveinvestors.com.au/companies/news/146793/tyranna-resources-ltd-vends-interest-in-pilbara-lithium-gold-project-68182.html Tyranna Resources Ltd (ASX:TYX) has been allotted 180 million ordinary shares and 90 million $0.01 unlisted options exercisable on or before 30th June 2017 by Mining Projects Group Ltd.

The securities are issued as part consideration of Tyranna selling its 90% interest of the Lynas Find assets which are to be renamed as the Pilbara Lithium-Gold Project.

A further 90 million shares will be issued when the Pilbara Lithium-Gold tenements are granted.

Mining Projects Group Ltd, which is to be renamed as Kairos Minerals Ltd, will also issue ‘milestone shares’ totalling 144 million ordinary shares if certain JORC resources of lithium or gold are established.

Tyranna will place all securities in voluntary escrow for a period of 12 months from the dates of issue.

The Pilbara Lithium-Gold Project adjoins both Pilbara Minerals Ltd’s (ASX:PLS) Pilgangoora lithium-tantalum project (52.2 million tonnes at 1.3% Li2O) and Altura Mining Ltd’s (ASX:AJM) Pilgangoora lithium project.

The project’s northern tenements border Pilbara’s lithium-hosting spodumene deposit, where recent drilling is less than 500 metres from the tenement boundary.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Wed, 20 Apr 2016 13:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146793/tyranna-resources-ltd-vends-interest-in-pilbara-lithium-gold-project-68182.html
<![CDATA[News - Tyranna Resources Ltd in ASX trading halt ]]> http://www.proactiveinvestors.com.au/companies/news/146792/tyranna-resources-ltd-in-asx-trading-halt-67979.html Tyranna Resources Ltd (ASX:TYX) has been granted a trading halt by the ASX, with tis shares placed in pre-open.

Tyranna requested the halt pending 'a material announcement to the market.'

Recently the company commenced drilling at the Jumbuck Gold Project in the northern Gawler Craton of South Australia.

The halt will remain in place until the opening of trade on Wednesday 13th April 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 11 Apr 2016 12:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146792/tyranna-resources-ltd-in-asx-trading-halt-67979.html
<![CDATA[News - Tyranna Resources Ltd gold drilling gets under way in South Australia ]]> http://www.proactiveinvestors.com.au/companies/news/146791/tyranna-resources-ltd-gold-drilling-gets-under-way-in-south-australia-67645.html Tyranna Resources Limited (ASX:TYX) has commenced its 2016 drilling program at the Jumbuck Gold Project in Gawler Craton, South Australia.

This first phase of 6,200 metres reverse circulation drilling forms part of an overall drilling program of approximately 15,000 to 20,000 metres planned for 2016.

The aim of this drilling is to outline a near surface gold resource of more than 500,000 ounces of gold from seven advanced gold prospects, all of which are within 50 kilometres of trucking to the idled Challenger gold processing plant.

Six of the seven gold prospects form part of a JV with Challenger Gold Operations Pty Ltd.

Under the JV, and subject to certain conditions, gold ore may be processed at the Challenger facility.

Tyranna is the JV manager and holds a 59% equity stake which can be increased to 70%.

Drilling will concentrate on the four northern advanced prospects of Golf Bore, Golf Bore North, Mainwood and Camp Fire Bore where previous drilling has identified significant gold potential.

Shallow aircore drilling on 200 metre line spacing at Golf Bore North returned gold intercepts of up to 1 metre at 9.89 g/t gold and 3 metres at 2.48 g/t gold.

Assay results from the initial drill programs are likely to be received in April and May.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Tue, 22 Mar 2016 14:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146791/tyranna-resources-ltd-gold-drilling-gets-under-way-in-south-australia-67645.html
<![CDATA[News - Tyranna Resources launches Jumbuck gold exploration drive ]]> http://www.proactiveinvestors.com.au/companies/news/146790/tyranna-resources-launches-jumbuck-gold-exploration-drive-67172.html Tyranna Resources (ASX:TYX) has begun its 2016 exploration drive aimed at resource definition at the Jumbuck gold project in South Australia.

Significantly, the Jumbuck gold project comprises over 8,000 square kilometres of contiguous tenements surrounding the 1 million ounce Challenger gold mine.

Tyranna initiated the Golf Bore drilling program with the ambition to define a low cost, mineable, near surface, gold orebody, and locate likely “feeder” zones.

Success could indicate a gold mineralized structure which may be similar to that at the 1 million ounce Challenger Mine.

The extensive regional program has begun at seven gold prospects and one nickel prospect within the northern portion of the Jumbuck area, situated on the Gawler Craton.

The company plans to drill 15,000 metres at multiple targets this year, the first 6,500 metres of which is scheduled for March.

Following the success of the 2015 RC drilling at Golf Bore, it is now planned to drill and define additional resources to target a shallow gold resource of 500,000 ounces.

Calcrete, when used as a first pass exploration indicator, has proved to be the most effective tool for target generation at Jumbuck.

The benefit in this region is the ubiquitous occurrence of calcrete and its absorbent properties for gold in particular, but for other elements also.

It was the method by which the Challenger gold mine was discovered and has been the reason for all of the other gold prospect discoveries since. Historical detailed drill testing has shown that calcrete, when used in conjunction with follow-up exploration drilling, is effective at defining broad mineral anomalism.

There are more than 300 known calcrete anomalies within the Jumbuck project area with values greater than 20 parts per billion gold that have yet to be followed up by further drill testing.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Wed, 24 Feb 2016 11:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146790/tyranna-resources-launches-jumbuck-gold-exploration-drive-67172.html
<![CDATA[News - Tyranna Resources hits high-grade gold in South Australia ]]> http://www.proactiveinvestors.com.au/companies/news/146789/tyranna-resources-hits-high-grade-gold-in-south-australia-65185.html Tyranna Resources (ASX:TYX) has intersected primary gold at its Jumbuck project in South Australia, with consistently high grades suggesting viable gold mine development is likely.

Drilling at the project’s Golf Bore area has returned 2 metres at 31.6 g/t gold from 79 metres, 1 metre at 27.9 g/t gold from 107 metres and 1 metre at 17.5 g/t gold from 40 metres.

Other assays marked 1 metre at 16.5 g/t gold from 56 metres and 2 metres at 9.7 g/t gold from 40 metres.

A broader 4-metre intersection also recorded 5.9 g/t gold from 56 metres.

Resource modelling and metallurgical testwork is now underway.

Golf Bore is one of seven advanced prospects at Jumbuck, which comprises more than 8,000 square kilometres of contiguous tenements surrounding Kingsgate Consolidated Limited’s (ASX”KCN) 1-million-ounce Challenger gold mine.

Golf Bore is being developed as a joint venture with Kingsgate and is expected to deliver early, low-cost production at the site.

After the sale of a non-core asset earlier this month, Tyranna shares have enjoyed positive price momentum, with Jumbuck exploration well funded and encouraging initial drill results.

The stock was last trading at A$0.03, compared to a range around $0.02 earlier this month and during most of September.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 20 Oct 2015 11:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146789/tyranna-resources-hits-high-grade-gold-in-south-australia-65185.html
<![CDATA[News - IronClad Mining and Trafford to emerge with leaner structure ]]> http://www.proactiveinvestors.com.au/companies/news/146788/ironclad-mining-and-trafford-to-emerge-with-leaner-structure--59792.html IronClad Mining (ASX:IFE) and Trafford Resources (ASX:TRF) have executed a merger agreement that will see IronClad acquire all of the issued shares in Trafford under a Scheme of Arrangement.

Given that Trafford was the major shareholder of Ironclad it will remove duplication/repetition of share ownership and lower administrative costs and listings costs, it is surprising it did not occur sooner.

Under the proposed scheme IronClad will offer one IronClad share for every one Trafford share. This will result in IronClad issuing an additional 128,653,062 shares.

This will mean that, upon completion of the transaction, IronClad will have a total of 236,856,933 shares on issue. The value of the 28.7 million IronClad shares currently owned by Trafford has been taken into account, by the independent directors in arriving at Trafford’s value and hence the merger share ratio.

Following completion of the transaction it is intended that those shares be cancelled.

The offer is subject to a number of conditions, including receipt of ASIC, ASX and other regulatory approvals and no material adverse change or prescribed event for either company.

 

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 29 Dec 2014 09:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146788/ironclad-mining-and-trafford-to-emerge-with-leaner-structure--59792.html
<![CDATA[News - IronClad Mining to update future development of the Wilcherry Hill iron ore project ]]> http://www.proactiveinvestors.com.au/companies/news/146787/ironclad-mining-to-update-future-development-of-the-wilcherry-hill-iron-ore-project-50747.html IronClad Mining (ASX: IFE) is preparing to release details regarding the future development of the Wilcherry Hill Iron Ore Project, with the ASX granting the company a trading halt.

IronClad's shares are currently in pre-open.

Wilcherry Hill is located 30 kilometres north of the township of Kimba in South Australia, and comprises four tenements and covers an area of 976 square kilometres.

Wilcherry Hill is an 80:20 joint venture between IronClad and Trafford Resources (ASX: TRF).

The halt will remain in place until the opening of trade on Wednesday 4th December 2013, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 02 Dec 2013 09:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146787/ironclad-mining-to-update-future-development-of-the-wilcherry-hill-iron-ore-project-50747.html
<![CDATA[News - Ironclad Mining to own 80% of manganese mineralisation at South Australia project ]]> http://www.proactiveinvestors.com.au/companies/news/146786/ironclad-mining-to-own-80-of-manganese-mineralisation-at-south-australia-project-49428.html Ironclad Mining (ASX: IFE) has signed an agreement with Trafford Resources (ASX: TRG) to earn up to 80% in all manganese over the Wilcherry Hill Project in South Australia.

The exploration and development of manganese will tie in with the Willcherry Hill Iron Ore Project – an existing 80:20 JV with Trafford – that the company is currently developing.

The manganese potential at Wilcherry Hill is well developed with the current resource defined at Hercules as part of the iron ore resource outlined in addition to the Pier Prospect which is located north of Hercules and returned high grade manganese from rock chip sampling.

Under the agreement, Ironclad will pay Trafford $250,000 on signing the joint venture agreement.

It can earn the first 50% by spending $1 million within one year of the signing. This includes a commitment to complete 4,000 metres of reverse circulation drilling.

Ironclad then has the right to earn the remaining 30% by spending an additional $2 million over a further two years.

Upon IronClad reaching an 80% interest, Trafford’s remaining 20% interest will be free carried up to a decision to mine.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Thu, 24 Oct 2013 09:40:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146786/ironclad-mining-to-own-80-of-manganese-mineralisation-at-south-australia-project-49428.html
<![CDATA[News - IronClad Mining tweaks mine plan for South Australia iron ore project ]]> http://www.proactiveinvestors.com.au/companies/news/146785/ironclad-mining-tweaks-mine-plan-for-south-australia-iron-ore-project--48676.html IronClad Mining (ASX: IFE) has re-optimised the Stage One mine plan for its Wilcherry Hill iron ore project on South Australia’s Eyre Peninsula that has estimated Open Cut Marketable Reserves at 2.9 million tonnes.

This consists of 1.9Mt DSO ore grading 57% iron and 1Mt of dry magnetic separation (DMS) product with an average concentrate grade of 52.6% iron.

It noted that at current iron prices of about US$133 per tonne, the project would generate cash flow of A$90 million after capital repayment – an IRR of 305%, and cash flow of A$48 million (IRR 114%) at floor prices of US$110 per tonne.

The company expects to receive the key final port development approval in late October which will in turn accelerate current financing negotiations.

Wilcherry Hill

The Stage One development of Wilcherry Hill is defined as the mining and shipping of DSO and DMS ore.

Start-up capital requirements are estimated at about $22 million, allowing for the purchase of owner operated crushing plant that would help reduce overall operating costs by about 25%.

It is proposed that the port fleet of two dumb barges, two tugs and a floating crane will be finance leased and be fully paid by the end of current Stage One mining operation. The lease costs are included in the overall operating costs and are anticipated to amount to about $24 million.

Ore will initially be transported by double road trains to a stockpile storage facility about 1.5 kilometres from the port of Lucky Bay, which is located 120 kilometres south of Whyalla.

From there it will be loaded into air-tight containers and tractor transported to the portside hardstand before being loaded by crane onto dumb barges.

Tugs will then take the barges 5.5 nautical miles out to sea where a barge mounted crane will be moored. This will then load the ore from the containers into Panamax or Cape-sized vessels anchored alongside it.

Several Chinese buyers have already confirmed their willingness to buy the DSO product.

Ironclad has a 80% interest in the project while Trafford Resources (ASX: TRF) holds the remaining 20%.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Wed, 02 Oct 2013 10:20:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146785/ironclad-mining-tweaks-mine-plan-for-south-australia-iron-ore-project--48676.html
<![CDATA[News - IronClad Mining: Wilcherry Hill set to benefit from former Worley Parsons project director’s skills ]]> http://www.proactiveinvestors.com.au/companies/news/146784/ironclad-mining-wilcherry-hill-set-to-benefit-from-former-worley-parsons-project-directors-skills--29677.html IronClad Mining (ASX: IFE) has gained the experience of 40 year civil engineering veteran David Burvill with his appointment as project director.

Burvill, a former senior executive of Worley Parsons and OZ Minerals (ASX: OZL), specialises in the development of large scale resource projects, which will benefit IronClad greatly as it develops the Wilcherry Hill iron ore project on South Australia’s Eyre Peninsula.

He was most recently project director for Worley Parsons at Hancock Prospecting’s Roy Hill iron ore project in Western Australia, where he was responsible for the greenfield development of the mine’s processing plant and associated infrastructure.

Burvill was also project director at OZ Minerals’ Prominent Hill copper-gold project in South Australia, where he was responsible for the management of the mine’s design, procurement, construction and commissioning.

He has also held a similar position with Ertech, which was awarded the construction contract for the Chevron-Exxon Mobil Gorgon LNG plant on Barrow Island, off Western Australia.

Burvill has also worked for BHP Billiton (ASX: BHP), WMC Limited and Anaconda Nickel.

Wayne Richards, managing director of IronClad Mining, commented on the appointment: “David has the exact knowledge, experience and skill set required by the company to progress our Wilcherry Hill and Hercules iron ore projects.

“He will primarily focus on the project development and construction execution plan for the Gravity Separation (wet beneficiation) Circuit at Wilcherry Hill.

“This processing facility has recently progressed to a stage of ‘expressions of interest’ for detailed Front-end Engineering and Design and construction.”

IronClad Mining is moving closer to cash flow generation from the Wilcherry Hill mine with the South Australian Government’s recent approval of the development application for port facilities designed for iron ore shipments from the project.

A major plus for Wilcherry Hill is that the first two years of production from the project has been contracted for sale to international steel mills under comprehensive sales and marketing agreements.

Additionally, 50% of year three and four’s forecast production has been contracted for sale through an offtake agreement with Hong Kong-based company New Page Investments.

Stage one at the project includes the production of 1 million tonnes per annum of direct shipping ore magnetite, which will double in the second year of operation.


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Mon, 04 Jun 2012 12:50:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146784/ironclad-mining-wilcherry-hill-set-to-benefit-from-former-worley-parsons-project-directors-skills--29677.html