http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Sat, 22 Sep 2018 01:44:03 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Tyranna Resources commences drilling at gold project ]]> http://www.proactiveinvestors.com.au/companies/news/205272/tyranna-resources-commences-drilling-at-gold-project-205272.html Tyranna Resources Ltd (ASX:TYX) has commenced reverse circulation (RC) drilling at its Campfire Bore Gold Prospect within its Jumbuck Gold Project in South Australia.

Notably, Campfire Bore is 40 kilometres north of the Challenger Gold Mine, which is owned by 20% joint venture partner in the Jumbuck project, WPG Resources Ltd (ASX:WPG).

The Campfire Bore drilling program will proceed with 2,000 metres of infill RC drilling.

The focus of this drilling campaign will be to complete infill drilling to upgrade the JORC status of Campfire Bore from the inferred to indicated category.

READ: Tyranna Resources JV partner Alliance Resources debuts 181,000-ounce Wilcherry maiden in South Australia

Recently, WPG Resources appointed administrators and receivers, presenting a potential opportunity for Tyranna.

Tyranna has revealed that it has been in consultation with relevant stakeholders including the appointed receivers and managers and the administrator of WPG.

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Thu, 20 Sep 2018 10:44:00 +1000 http://www.proactiveinvestors.com.au/companies/news/205272/tyranna-resources-commences-drilling-at-gold-project-205272.html
<![CDATA[News - Tyranna Resources JV partner Alliance Resources debuts 181,000-ounce Wilcherry maiden in South Australia ]]> http://www.proactiveinvestors.com.au/companies/news/204298/tyranna-resources-jv-partner-alliance-resources-debuts-181000-ounce-wilcherry-maiden-in-south-australia-204298.html Tyranna Resources Ltd’s (ASX:TYX) (FRA:IRN) Wilcherry Project Joint Venture partner Alliance Resources Limited (ASX:AGS) (FRA:A5P) has defined a high-grade maiden resource for the project 40km from Kimba township in South Australia.

The 1.097 million tonne resource at 5.1 g/t gold contains 181,000 ounces and consists of indicated and inferred resources at the 1,200 square kilometre project.

READ: Tyranna Resources acquires US cobalt project in Nevada

Indicated resources make up 590,000 grading 4.6 gold for 88,000 while the inferred resources are 507,000 tonnes grading 5.7 g/t gold for 93,000 ounces.

The resources come from $2,000 pit shells grading more than 0.5 g/t gold and potential underground resources grading more than 2 g/t gold.

‘Readily accessible’ resource

Alliance, which holds 75.01% of the joint venture to Tyranna’s 24.99%, said 83% of the resource occurs within 120 metres of surface.

The partner reported the resource was “readily accessible using open pit or underground mining techniques”.

READ: Tyranna Resources set to begin resource definition drilling at Eureka Gold Project

Alliance managing director Steve Johnston said “the delivery of a maiden mineral resource is a significant milestone for the company and confirms Weednanna as a quality gold deposit with outstanding economic potential”.

“This is the first step towards establishing the Wilcherry project area as an emerging gold-producing district in South Australia.”

Interlocking investments

Alliance holds an 8.92% voting stake in Tyranna, with 71,393,843 voting shares, a stake reduced from the 17.91% voting power the company held before August 3.

The reduction in Alliance’s Tyranna voting stake came about after the company acquired the Eureka Gold Project 50 kilometres north of Kalgoorlie in Western Australia’s Goldfields.

READ: Tyranna Resources has new substantial shareholder​

West Perth-based Tyranna paid for the project with 93.2 million shares, giving seller Central Iron Ore Ltd (CVE:CIO) an 11.6% stake in the company.

Tyranna hopes to bring the contract-mined Eureka project into production from existing workings in the near term.

The Eureka pit was extended by 20 metres earlier this year.

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Thu, 06 Sep 2018 01:35:00 +1000 http://www.proactiveinvestors.com.au/companies/news/204298/tyranna-resources-jv-partner-alliance-resources-debuts-181000-ounce-wilcherry-maiden-in-south-australia-204298.html
<![CDATA[News - Tyranna Resources acquires US cobalt project in Nevada ]]> http://www.proactiveinvestors.com.au/companies/news/203260/tyranna-resources-acquires-us-cobalt-project-in-nevada-203260.html Tyranna Resources Ltd (ASX:TYX) has executed the agreement for the 100% acquisition of private company US Cobalt Pty Ltd, the owner of the Goodsprings Cobalt and Base Metals Project.

The acquisition follows Tyranna completing due diligence after entering an option agreement in March 2018 and is part of the company’s diversification strategy into battery minerals.

READ: Tyranna Resources set to begin resource definition drilling at Eureka Gold Project

Tyranna’s managing director Bruno Seneque said “This is an outstanding deal for Tyranna and our shareholders which we have secured via a scrip issue.

“Historical mining results suggest that this area holds some of the highest grade cobalt mines that can be found in the district.

“In the 1920’s the mines in this area produced approximately 20 tonnes of cobalt rich ore from copper mining and historical grades were reported between 6% and 29%.”

No modern mining techniques used

Seneque added: “No modern mining techniques have been used here and we are confident that good exploration and mining methods will handsomely reward the Company here at Goodsprings.

“The acquisition of US Cobalt adds Goodsprings Cobalt and Base Metals Project as another high value asset to Tyranna’s project portfolio and enhances our value as a diversified resources exploration and development company.”

READ: Tyranna Resources identifies extensive cobalt, copper anomalies in Nevada

The acquisition involved the issue of 141.1 million Tyranna shares at a deemed price of 1.7 cents and is subject to shareholder approval.

Approval will also be required for the issue of 30 million options, which also forms part of the consideration outstanding.

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Tue, 21 Aug 2018 11:55:00 +1000 http://www.proactiveinvestors.com.au/companies/news/203260/tyranna-resources-acquires-us-cobalt-project-in-nevada-203260.html
<![CDATA[News - Tyranna Resources set to begin resource definition drilling at Eureka Gold Project ]]> http://www.proactiveinvestors.com.au/companies/news/202904/tyranna-resources-set-to-begin-resource-definition-drilling-at-eureka-gold-project-202904.html Tyranna Resources Ltd (ASX:TYX) has engaged a drilling contractor to complete a resource/reserve definition drilling campaign at its Eureka Gold Project in Western Australia.

Drilling is planned to commence in mid-September and is aimed to bring the historical resource in compliance with JORC 2012.

It is expected the program will take about three to four weeks to complete and will comprise 20 holes for about 3,200 metres of drilling.

The drilling program is designed to intersect an interpreted high-grade ore shoot beneath the pit to enable the re-estimation of a mineral resource.

Eureka open pit mine – Interpreted high-grade ore shoot

Tyranna managing director Bruno Seneque said: “We are delighted we have full control by owning the Eureka Gold Project 100%.

“The company plans to systematically unlock the gold production potential of this exciting gold asset. The drilling program will be the first step forward.

“We are located in one of the world’s premier mining districts and surrounded by toll processing facilities and first-class infrastructure.”

READ: Tyranna Resources lifts stake in Jumbuck and plans next gold exploration

Following an updated resource estimate, a decision will be made to commence a feasibility study to evaluate the opportunity of mining and toll treating to nearby processing mills.

This drilling campaign was initially planned for March/April 2018 but has been delayed due to bad weather experienced during tribute mining which restricted drill access from within the pit.

Tribute mining is now completed.

READ: Tyranna Resources JV partner surveying Wilcherry for gold potential

Previous miners at Eureka only took the near-surface material, however, potential high-grade shoots beneath have been identified that may have the potential to expand the resource.

History has demonstrated that often the best place to find more gold is where gold has been found and mined before.

Tyranna remains confident that modern techniques and deeper drilling may bring about further success at Eureka.

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Wed, 15 Aug 2018 11:26:00 +1000 http://www.proactiveinvestors.com.au/companies/news/202904/tyranna-resources-set-to-begin-resource-definition-drilling-at-eureka-gold-project-202904.html
<![CDATA[News - Tyranna Resources JV partner surveying Wilcherry for gold potential ]]> http://www.proactiveinvestors.com.au/companies/news/202702/tyranna-resources-jv-partner-surveying-wilcherry-for-gold-potential-202702.html Tyranna Resources Ltd’s (ASX:TYX) joint venture partner Alliance Resources Ltd (ASX:AGS) has commenced an airborne survey over the Wilcherry Project in South Australia.

The high-resolution airborne magnetic and radiometric survey will be targeting gold potential.

Survey data will be used to better define the regional structures and magnetic iron formations with the potential to host gold similar to Weednanna, the most advanced gold prospect at Wilcherry.

READ: Tyranna Resources has new substantial shareholder

Tyranna has a 24.99% interest in the 1,200 square kilometre Wilcherry joint venture alongside 75.01% operator Alliance.

The Weednanna prospect hosts high-grade gold shoots that are associated with a calc-silicate and magnetite skarn system.

Planned work includes establishing a maiden mineral resource estimate in the December half of 2018, together with a staged program of metallurgical work.

The outcomes of both work streams, if positive, will feed into a scoping study.

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Mon, 13 Aug 2018 11:15:00 +1000 http://www.proactiveinvestors.com.au/companies/news/202702/tyranna-resources-jv-partner-surveying-wilcherry-for-gold-potential-202702.html
<![CDATA[News - Tyranna Resources has new substantial shareholder ]]> http://www.proactiveinvestors.com.au/companies/news/202697/tyranna-resources-has-new-substantial-shareholder-202697.html Tyranna Resources Ltd (ASX:TYX) has a new substantial shareholder in Central Iron Ore Ltd (CVE:CIO) which has an 11.6% stake from its 93.2 million shareholding.

The shareholding comes as a result of Tyranna’s acquisition of the Eureka Gold Project located 50 kilometres north of Kalgoorlie, Western Australia.

Shares were issued to Central Iron Ore in consideration for the project’s sale.

READ: Tyranna Resources completes acquisition of Eureka gold mine

Tyranna is confident that the Eureka open cut gold mine can be brought into production from existing workings in the near term.

Eureka is currently being mined by a local contractor and ongoing work, scheduled to extend the depth of the current open pit by about 20 meters, was completed on the 25th April 2018.

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Mon, 13 Aug 2018 08:22:00 +1000 http://www.proactiveinvestors.com.au/companies/news/202697/tyranna-resources-has-new-substantial-shareholder-202697.html
<![CDATA[News - Tyranna Resources completes acquisition of Eureka gold mine ]]> http://www.proactiveinvestors.com.au/companies/news/202241/tyranna-resources-completes-acquisition-of-eureka-gold-mine-202241.html Tyranna Resoruces Ltd (ASX:TYX) has completed the acquisition of the Eureka Gold Project located 50 kilometres north of Kalgoorlie, Western Australia from Central Iron Ore Ltd (CVE:CIO).

The two companies first entered the acquisition agreement for the open cut gold mine in December 2017.

READ: Tyranna Resources transitioning from gold explorer to producer through acquisition

Consideration for the acquisition consisted of around $1.6 million in cash and around 100 million Tyranna shares.

Tyranna is confident that the Eureka open cut gold mine can be brought into production from existing workings in the near term.

Eureka is currently being mined by a local contractor and ongoing work, scheduled to extend the depth of the current open pit by about 20 meters, was completed on the 25th April 2018.

Resource and reserve drilling to commence

A program of work has been granted for drilling to commence focused on resource and reserve definition.

Drilling will also provide further parameters for planned mining study which will include analysis for economic potential of both open pit and underground operations. 

READ: Tyranna Resources lifts stake in Jumbuck and plans next gold exploration

Existing ore held in stockpiles on site will be transported to the Lakewood toll milling facility.

Tyranna will receive a 4% net smelter royalty generated from the sale of any gold from this tribute mining campaign and will be used to offset the acquisition price.

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Mon, 06 Aug 2018 08:47:00 +1000 http://www.proactiveinvestors.com.au/companies/news/202241/tyranna-resources-completes-acquisition-of-eureka-gold-mine-202241.html
<![CDATA[News - Tyranna Resources lifts stake in Jumbuck and plans next gold exploration ]]> http://www.proactiveinvestors.com.au/companies/news/201192/tyranna-resources-lifts-stake-in-jumbuck-and-plans-next-gold-exploration-201192.html Tyranna Resources Ltd (ASX:TYX) will next month begin a new exploration program with the aim of adding to its gold bounty at the Jumbuck Gold Project in South Australia.

This comes as the company has increased its ownership of the Western Gawler Craton Joint Venture (WGCJV) which includes the 319,000-ounce Jumbuck project.

READ: Tyranna Resources’ Bruno Seneque to outline gold and cobalt strategy at Proactive's CEO Sessions

Sole funding exploration in the first half of 2018 enabled Tyranna to lift its interest in the two components of the WGCJV with WPG Resources Ltd (ASX:WPG) and Coombedown Resources Pty Ltd.

Tyranna now has 70.2% of the Northern Jumbuck tenements and 78.01% of the Southern Jumbuck holdings.

New program to start in mid-August

The second half exploration, which is expected to start in mid-August, will focus on an infill reverse circulation (RC) and diamond drilling campaign at the Campfire Bore prospect.

Tyranna and WPG agree this has demonstrated the best potential economic viability of all the Northern Jumbuck gold prospects and is on a path towards a feasibility study.

The infill drilling is aimed at upgrading Campfire Bore’s JORC-compliant inferred resources to the indicated category.

Dependent on the outcomes, additional drilling may also be planned to upgrade resources at the other Northern Jumbuck deposits of Mainwood, Greenewood and Golf Bore.

The intention would be to also complete mining feasibility studies on these.

READ: Tyranna Resources increases Jumbuck gold resource to 319,000 ounces

The Jumbuck project comprises 9,762 square kilometres surrounding WPG’s Challenger Gold Mine, which has produced more than 1.2 million ounces at 6 g/t gold.

Following the drilling and new resource estimates, a decision will be made to progress towards feasibility study at Campfire Bore, which will also involve converting the tenement to a Mining Claim.

Ore processing discussions

Tyranna and WPG have therefore agreed to move forward to establish ore processing terms in accordance with the WGCJV.

The company will also carry out maiden RC drilling at the South Hilga prospect of the Southern Jumbuck tenements and has returned some impressive historical RAB drilling results.

First South Hilga exploration

South Hilga was drilled by Dominion Mining Ltd in 1995 and 1996, and this primarily focused on a northwest trend, which includes a patchy calcrete anomaly of 5.8 by 3 kilometres with a high of 229ppb gold.

It will be the first time that Tyranna has explored the South Hilga prospect.

This is in line with the company’s strategy to follow-up on previous exploration to build on existing Jumbuck resources.

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Fri, 20 Jul 2018 11:56:00 +1000 http://www.proactiveinvestors.com.au/companies/news/201192/tyranna-resources-lifts-stake-in-jumbuck-and-plans-next-gold-exploration-201192.html
<![CDATA[News - Tyranna Resources’ Bruno Seneque to outline gold and cobalt strategy at Proactive's CEO Sessions ]]> http://www.proactiveinvestors.com.au/companies/news/201104/tyranna-resources-bruno-seneque-to-outline-gold-and-cobalt-strategy-at-proactive-s-ceo-sessions-201104.html Tyranna Resources Ltd’s (ASX:TYX) managing director Bruno Seneque will present at next week’s Proactive CEO Sessions.

The company has recently added battery metals in North America to its suite of precious and base metals interests in Australia.

There have been encouraging results from joint venture projects in Australia with more news flow expected to provide impetus to the share price.

Gold resources at the Jumbuck JV with WPG Resources Ltd (ASX:WPG) in South Australia were recently increased by 100,000 ounces.

Another gold resource estimate is expected later this year from the Weednanna prospect of the Wilcherry project JV with Alliance Resources Limited (ASX:AGS), also in South Australia.

This is expected to be boosted by the modelling of nine additional zones of mineralisation based on historical gold results which included 9 metres at 25.1 g/t from 10 metres.

An additional quartz vein up to 20 metres thick was also recently identified.

Tyranna is also now leveraged to cobalt and the company has received encouraging results from initial stream sediment sampling and follow-up soil sampling at the Goodsprings project in Nevada, USA.

Register today to find out more.

Sydney details, Monday, July 23, 2018

Melbourne details, Tuesday, July 24, 2018

Or call John Phillips on (02) 9280 0700

The Proactive CEO Sessions will feature five presenting companies in total.

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Thu, 19 Jul 2018 15:19:00 +1000 http://www.proactiveinvestors.com.au/companies/news/201104/tyranna-resources-bruno-seneque-to-outline-gold-and-cobalt-strategy-at-proactive-s-ceo-sessions-201104.html
<![CDATA[News - Tyranna Resources increases Jumbuck gold resource to 319,000 ounces ]]> http://www.proactiveinvestors.com.au/companies/news/197877/tyranna-resources-increases-jumbuck-gold-resource-to-319000-ounces-197877.html Tyranna Resources Ltd (ASX:TYX) has increased the gold resource at its Jumbuck Gold Joint Venture in South Australia to 319,000 ounces, an increase of 100,000 ounces or 46% from the previous estimate.

Additional drilling into Typhoon and Monsoon enabled maiden resources to be estimated for these deposits.

Also, drilling into Golf Bore and Greenewood increased confidence in the continuity of mineralisation resulting in maiden Indicated resources for these deposits.

Jumbuck Project surrounds operating Challenger Gold Mine

Tyranna holds 77% in the Jumbuck Joint Venture with WPG Resources Ltd (ASX:WPG) 23%.

All the deposits at Jumbuck are located within trucking distance of the Challenger Gold Mine operated by WPG.

The close proximity to the 1.2 million ounce Challenger Gold Mine is a key driver for Tyranna which aims to identify a similar analogue deposit.

Tyranna is targeting a 500,000-ounce gold resource for the project where all deposits are presently interpreted to be open at depth and have excellent potential for resource increases with further drilling.

READ: Tyranna Resources receives assays from Jumbuck, first visible gold witnessed

Tyranna managing director Bruno Seneque said: “This 100,000 ounces increase is a very pleasing result for the Western Gawler Craton Joint Venture.

“This new resource strengthens our understanding of the deposits and it is to be noted that these are shallow ounces, sitting only 100 metres from surface.”

First-pass scoping studies to commence

Seneque added “We will now start to plan first pass scoping studies to evaluate the potential to advance toward feasibility studies.

“Of course this will entail discussions with our joint venture partner – WPG Resources, who operate the Challenger Gold Operations and have been supportive of Tyranna’s exploration efforts.”

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Wed, 30 May 2018 12:04:00 +1000 http://www.proactiveinvestors.com.au/companies/news/197877/tyranna-resources-increases-jumbuck-gold-resource-to-319000-ounces-197877.html
<![CDATA[News - Tyranna Resources to receive shares as Kairos defines 500,000-ounce gold resource ]]> http://www.proactiveinvestors.com.au/companies/news/197675/tyranna-resources-to-receive-shares-as-kairos-defines-500000-ounce-gold-resource-197675.html Tyranna Resources Ltd (ASX:TYX) is set to be issued 7.2 million shares in Kairos Minerals Ltd (ASX:KAI) as part of the 2016 sale of the Pilbara Gold Project in Western Australia.

Kairos is the 100% owner of the project and has recently more than doubled the JORC resource to 643,000 ounces of gold.

As a result of this resource increase, a milestone that was part of the 2016 sale agreement has been triggered which will see 7.2 million shares issued to Tyranna priced at 4 cents.

Tyranna is the second largest shareholder of Kairos with 31.3 million shares, soon to increase to 38.5 million shares. 

Milestones related to lithium and gold

The 2016 sale agreement outlined two potential milestones, the first being 5 million tonnes grading 1.2% lithium oxide or at least 500,000 ounces of gold, which has now been met.

A second, and final share issue will take place if Kairos defines at least 15 million tonnes grading 1.2% lithium oxide or at least 1 million ounces of gold.

READ: Tyranna Resources identifies extensive cobalt, copper anomalies in Nevada

Earlier this month, Tyranna received encouraging cobalt results from the initial stream sediment sampling and follow up soil sampling programs at the Goodsprings project in Nevada, US.

Significantly, a grab sample of dump material from the Whale Mine area returned 7.64% cobalt.

Other samples taken from the Whale Mine area returned up to 22.5% copper, 1.37% lead and >30% zinc, reflecting the polymetallic nature of the mineralisation.

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Fri, 25 May 2018 08:28:00 +1000 http://www.proactiveinvestors.com.au/companies/news/197675/tyranna-resources-to-receive-shares-as-kairos-defines-500000-ounce-gold-resource-197675.html
<![CDATA[News - Tyranna Resources identifies extensive cobalt, copper anomalies in Nevada ]]> http://www.proactiveinvestors.com.au/companies/news/196504/tyranna-resources-identifies-extensive-cobalt-copper-anomalies-in-nevada-196504.html Tyranna Resources Ltd (ASX:TYX) has received encouraging cobalt results from the initial stream sediment sampling and follow up soil sampling programs at the Goodsprings project in Nevada, USA.

Significantly, a grab sample of dump material from the Whale Mine area returned 7.64% cobalt.

Other samples taken from the Whale Mine area returned up to 22.5% copper, 1.37% lead and >30% zinc, reflecting the polymetallic nature of the mineralisation.

In March 2018, Tyranna entered into a binding option agreement to acquire US Cobalt Pty Ltd, the owner of the Goodsprings cobalt and base metals project.

READ: Tyranna Resources adds another string to its bow with acquisition of Nevada cobalt asset

With the company already having exposure to precious and base metals, the obvious area to invest in was the battery minerals space.

The US cobalt acquisition is aimed at capitalising on the battery minerals revolution which has seen the rapid rise in the cobalt price from US$23,000/tonne in March 2016 to above US$88,000/tonne currently.

READ: Tyranna Resources completes due diligence for cobalt acquisition

Tyranna’s latest stream sediment sampling at Goodsprings has successfully defined two main cobalt targets.

Furthermore, soil sampling has defined two strong coincident sub-parallel copper-zinc-lead anomalies at the Whale Mine area over a 4-kilometre strike.

Ground consolidation negotiations underway

Tyranna has commissioned a photogeological structural interpretation on the Goodsprings claim block to identify structural controls on the mineralisation and identify target areas for follow up.

Further stream sediment sampling is planned to test the western portion of the claim block.

Tyranna will also complete soil sampling to extend the multi-element anomalous zones to the north.

Negotiations are underway with the owner of the patented mining claims and are expected to be completed in the next quarter.

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Tue, 08 May 2018 12:45:00 +1000 http://www.proactiveinvestors.com.au/companies/news/196504/tyranna-resources-identifies-extensive-cobalt-copper-anomalies-in-nevada-196504.html
<![CDATA[News - Tyranna Resources expecting maiden gold resource this half at Weednanna ]]> http://www.proactiveinvestors.com.au/companies/news/196460/tyranna-resources-expecting-maiden-gold-resource-this-half-at-weednanna-196460.html Tyranna Resources Ltd (ASX:TYX) and its joint venture partner Alliance Resources Ltd (ASX:AGS) are expecting a maiden gold resource this half at the Weednanna prospect.

Weednanna is a part of the Wilcherry Project in South Australia which Tyranna has a 28.9% share in with Alliance (71.1%).

READ: Tyranna Resources’ entire board buys company shares

The primary focus at Wilcherry has been to assess the potential of the high-grade Weednanna gold prospect for economic development.

Alliance is well advanced and plans to establish a maiden mineral resource estimate in the current June half.

A review has also commenced of the regional gold prospectivity to identify prospects with potential for gold mineralisation within five kilometres of Weednanna.

The nearby Mawson, Ultima Dam South and Weednanna North prospects all have historical records of over 1 g/t gold mineralisation.

Alliance plans to complete a review of exploration data so an aircore drilling campaign can be carried out at the highest ranked targets.

Any aircore gold anomalies will be followed up with reverse circulation drilling.

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Mon, 07 May 2018 11:33:00 +1000 http://www.proactiveinvestors.com.au/companies/news/196460/tyranna-resources-expecting-maiden-gold-resource-this-half-at-weednanna-196460.html
<![CDATA[News - Tyranna Resources confident of near-term gold production from Eureka mine ]]> http://www.proactiveinvestors.com.au/companies/news/196096/tyranna-resources-confident-of-near-term-gold-production-from-eureka-mine-196096.html Tyranna Resources Ltd (ASX:TYX) remains confident the Eureka Gold Mine in Western Australia can be brought into production from existing workings in the near term.

In December 2017, the company entered a binding agreement to acquire the open cut gold mine which is currently being mined by a local contractor.

Approvals have been received for resource and reserve definition drilling which will commence once the sale and purchase transaction is completed.

READ: Tyranna Resources set to explore Eureka Gold Project after oversubscribed placement

The project vendor, Central Iron Ore Ltd (CVE:CIO) has received shareholder approval for the project sale and is now waiting for authorisation from the Canadian exchange.

1,500-2,000 metres of drilling has been planned and upon receipt of the drill results, Tyranna plans to commence a mining feasibility study.

The study will evaluate the possibility of open cut or underground mining and toll treating to nearby processing mills.

The Eureka Mine orebody consists of a plunging zone of quartz veining up to 15 metres wide and with a strike length of about 70 metres.

Stockpiled ore to be sent to a local mill

Existing ore held in stockpiles at Eureka will be transported to the Lakewood toll milling facility.

Tyranna will receive a 4% net smelter royalty generated from the sale of any gold from this tribute mining campaign.

Notably, royalties will be used to offset the acquisition price of the Eureka Gold Project from Central Iron Ore.

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Tue, 01 May 2018 10:36:00 +1000 http://www.proactiveinvestors.com.au/companies/news/196096/tyranna-resources-confident-of-near-term-gold-production-from-eureka-mine-196096.html
<![CDATA[News - Tyranna Resources’ entire board buys company shares ]]> http://www.proactiveinvestors.com.au/companies/news/195998/tyranna-resources-entire-board-buys-company-shares-195998.html Tyranna Resources Ltd (ASX:TYX) has received the required shareholder approval for four of its board members to participate in the February share placement.

The entire board each paid $10,000 each to acquire 588,235 shares each as part of the $2.55 million capital raising.

READ: Tyranna Resources raises $2.55 million in heavily oversubscribed placement

Tyranna’s recent exploration focus has been at the Jumbuck Gold Project in South Australia.

The company’s joint venture partner Alliance Resources Ltd (ASX:AGS) has also been active at its Wilcherry joint venture in South Australia.

Tyranna owns 28.91% of the Wilcherry Project and final assays from a 22-hole drill program were just received targeting the Weednanna gold prospect.

Highlights from the latest reverse circulation (RC) drilling assays at Weednanna Target 4 featured 4 metres at 11.6 g/t gold from 76 metres.

READ: Tyranna Resources gets further confirmation of Weednanna’s high-grade gold potential

At the Jumbuck Gold Project, Tyranna recently witnessed gold mineralisation and assays received featured intersections of 6 metres at 6.2 g/t gold.

It was diamond drilling at the Campfire Bore prospect discovered visible gold in the mineralised primary zone which is the first ever occurrence of coarse gold that is visible to the naked eye.

READ: Tyranna Resources receives assays from Jumbuck, first visible gold witnessed

Tyranna holds 77% in the Jumbuck Project joint venture with WPG Resources Ltd (ASX:WPG) 23%.

The 9,762 square kilometre project surrounds the operating Challenger Gold Mine owned by WPG Resources.

Tyranna is targeting a 500,000-ounce gold resource for the project, building upon its current 219,000-ounce gold Inferred resource in place.

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Mon, 30 Apr 2018 08:37:00 +1000 http://www.proactiveinvestors.com.au/companies/news/195998/tyranna-resources-entire-board-buys-company-shares-195998.html
<![CDATA[News - Tyranna Resources’ Wilcherry partner identifies gold targets in aerial survey ]]> http://www.proactiveinvestors.com.au/companies/news/195811/tyranna-resources-wilcherry-partner-identifies-gold-targets-in-aerial-survey-195811.html Tyranna Resources Ltd (ASX:TYX) joint venture partner Alliance Resources Limited (ASX:AGS) has completed a high-resolution gravity survey covering the Weednanna gold prospect in South Australia.

Preliminary imaging has revealed several NW-SE trending structures, including a prominent structure on which Target 1 is situated.

READ: Tyranna Resources gets further confirmation of Weednanna’s high-grade gold potential

Alliance managing director Steve Johnston said: “The results of the close-spaced gravity survey have exceeded our expectations.

“Combined with the existing detailed magnetic data, it will be a powerful targeting tool to help unlock the further potential of the high-grade Weednanna gold system.”

The prospect forms part of the Wilcherry Project Joint Venture of which Tyranna holds 28.91% and Alliance the remainder.

READ: Tyranna Resources receives assays from Jumbuck, first visible gold witnessed

Wilcherry is in the southern part of the Gawler Craton in the northern Eyre Peninsula and comprises seven exploration licences covering 1,400 square kilometres.

It is prospective for gold and base metals.

There were 2,548 stations surveyed, comprising 1,915 stations using a 25-metre grid over the central Weednanna area and 633 stations using a 50-metre grid elsewhere.

Target 1 most prominent

Target 1 gold shoot is along the most prominent of the structures, which continues to the south of Target 4.

This structure has a strike length of at least 1,000 metres and apart from Target 1, is poorly drill tested over the majority of its length.

Gravity data will assist with mapping the sub-surface geology, particularly the target corridors of calc-silicate and magnetite skarn that host high-grade gold shoots.

This data will complement the existing geophysical datasets at Weednanna and will be utilised for constrained 3D inversion modelling to assist with targeting new gold lodes.

Planned work program

The joint venture plans to estimate a maiden mineral resource estimate before June 30, 2018.

Other planned work includes a staged program of metallurgical work with the aim of optimising gold recovery.

This will culminate in process design criteria and capital and operating costs for the processing base case.

If positive, the outcomes of both work streams will feed into a scoping study in the second half of this year.

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Thu, 26 Apr 2018 15:37:00 +1000 http://www.proactiveinvestors.com.au/companies/news/195811/tyranna-resources-wilcherry-partner-identifies-gold-targets-in-aerial-survey-195811.html
<![CDATA[News - Tyranna Resources gets further confirmation of Weednanna’s high-grade gold potential ]]> http://www.proactiveinvestors.com.au/companies/news/195514/tyranna-resources-gets-further-confirmation-of-weednannas-high-grade-gold-potential-195514.html Tyranna Resources Ltd (ASX:TYX) has received the final batch of results from its fourth round drilling at the Weednanna gold prospect within the Wilcherry joint venture in South Australia.

Highlights from the latest reverse circulation (RC) drilling assays at Weednanna Target 4 featured 4 metres at 11.6 g/t gold from 76 metres.

These results reinforce Weednanna as a high-grade gold system, following up other recent results including 16 metres at 3.2 g/t from 84 metres and 12 metres at 10.2 g/t gold from 92 metres.

Tyranna holds 28.91% of the project with the remainder held by Alliance Resources Limited (ASX:AGS).

READ: Tyranna Resources and partner eyes high-grade gold shoots at Weednanna

Alliance managing director Steve Johnston said: “The results from the latest round of drilling at Target 4 strengthens our view that Weednanna is a high-grade gold system with potential for economic development.

“With this in mind, we are working towards a maiden mineral resource estimate in the current quarter and leading to a scoping study in 2H 2018.”

15 of the 22-hole program intersected over 1 g/t gold

The 22-hole RC program completed in March comprised of 19 holes at Target 4 and 3 holes to initially test Target 5.

Of the 22 holes drilled, 15 holes intersected over 1 g/t gold including 3 holes that intersected over 50 g/t gold.

The recent drilling confirmed a new Target 5 lode with a best intercept of 8 metres at 2.2 g/t gold from 164 metres.

Further RC drilling planned in 2018

Further RC drilling is planned in 2018 to define the limits of gold mineralisation at Targets 4 and 5 and to test new target areas.

Importantly, drilling will work towards establishing a maiden mineral resource estimate in the first half of 2018.

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Mon, 23 Apr 2018 10:35:00 +1000 http://www.proactiveinvestors.com.au/companies/news/195514/tyranna-resources-gets-further-confirmation-of-weednannas-high-grade-gold-potential-195514.html
<![CDATA[News - Tyranna Resources receives assays from Jumbuck, first visible gold witnessed ]]> http://www.proactiveinvestors.com.au/companies/news/195203/tyranna-resources-receives-assays-from-jumbuck-first-visible-gold-witnessed-195203.html Tyranna Resources Ltd (ASX:TYX) has visually witnessed gold mineralisation in its recently drilled core at the Jumbuck Gold Project in South Australia.

Diamond drilling at the Campfire Bore prospect discovered visible gold in the mineralised primary zone which is the first ever occurrence of coarse gold that is visible to the naked eye.

3 holes at the Greenewood prospect and, 2 holes at Campfire Bore prospect have been completed with assay results received for two holes.

Assays feature 6 metres at 6.2 g/t gold

Assay results from two holes feature:

• 6 metres at 6.2 g/t gold from 47 metres including 1 metre at 30.6 g/t gold;
• 1.0 metre at 4.68 g/t gold from 75 metres;
• 25 metres at 1.0 g/t gold from 75 metres;
• 1.3 metres at 8.3 g/t gold from 128 metres; and
• 1.0 metre at 4.68 g/t gold from 75 metres.

Drill results will be used to update the current geological and resource block models.

Jumbuck Project surrounds operating Challenger Gold Mine

Tyranna holds 77% in the Jumbuck Project joint venture with WPG Resources Ltd (ASX:WPG) 23%.

The 9,762 square kilometre project surrounds the operating Challenger Gold Mine owned by WPG Resources.

Tyranna is targeting a 500,000-ounce gold resource for the project, building upon its current 219,000-ounce gold Inferred resource in place.

Expanding Jumbuck’s JORC resource

Results from the most recent round of diamond drilling will be incorporated into upgrading the current resource at the Campfire Bore and Greenewood gold deposits.

The latest drilling results have proven there is high-grade mineralisation within the primary zone at Campfire Bore.

Exploration in the future will target extensions to these zones and the delineation of additional high-grade zones.

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Wed, 18 Apr 2018 10:18:00 +1000 http://www.proactiveinvestors.com.au/companies/news/195203/tyranna-resources-receives-assays-from-jumbuck-first-visible-gold-witnessed-195203.html
<![CDATA[News - Tyranna Resources metallurgy results progress gold project toward scoping study ]]> http://www.proactiveinvestors.com.au/companies/news/194803/tyranna-resources-metallurgy-results-progress-gold-project-toward-scoping-study-194803.html Tyranna Resources Ltd (ASX:TYX) has achieved an 86.73% gold recovery from test work conducted on Weednanna within the Wilcherry Project Joint Venture in South Australia.

The result, which was a sample taken from Target 4 at Weednanna, used a conventional grind size combined with cyanide leaching of the gravity concentrate.

Metallurgical test work indicates that gold mineralisation from Weednanna Targets 1, 2, 3 and 4 is amenable to conventional grinding and cyanide recovery techniques.

More test work now planned

Tyranna’s joint venture partner Alliance Resources (ASX:AGS) has now engaged consultants to undertake a staged program of metallurgical work.

The aim of this more advanced work is optimising gold recovery and culminating in process design criteria and capital and operating costs for the processing base case.

Subject to the delivery of a maiden mineral resource estimate for Weednanna in June, this metallurgical work will feed into a scoping study in the December half of 2018.

READ: Tyranna Resources adds another string to its bow with acquisition of Nevada cobalt asset

During March 2018, Tyranna entered into a binding option agreement to acquire 100% of the Goodsprings Cobalt and Base Metals Project in the US state of Nevada.

The acquisition is part of Tyranna’s diversification strategy aimed at capitalising on the battery minerals revolution.

The project has a history of cobalt mining in the early 1920s when around 20 tons of cobalt-rich ore was shipped from four separate copper mines to processing facilities.

Significantly, these shipments assayed between 6% and 29% cobalt.

Furthermore, due to the lack of any modern exploration, the project area presents attractive opportunities to deploy modern exploration techniques.

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Thu, 12 Apr 2018 10:47:00 +1000 http://www.proactiveinvestors.com.au/companies/news/194803/tyranna-resources-metallurgy-results-progress-gold-project-toward-scoping-study-194803.html
<![CDATA[News - Tyranna Resources reveals high-grade cobalt from rock chip assays in Nevada ]]> http://www.proactiveinvestors.com.au/companies/news/194689/tyranna-resources-reveals-high-grade-cobalt-from-rock-chip-assays-in-nevada-194689.html Tyranna Resources Ltd (ASX:TYX) has received high-grade polymetallic results from the Goodsprings Cobalt and Base Metals Project in the State of Nevada, USA.

The new US cobalt acquisition is part of Tyranna’s diversification strategy aimed at capitalising on the battery minerals revolution which has seen the rapid rise in the price of cobalt.

The LME (London Metal Exchange) cobalt price has increased from US$23,000/tonne in March 2016 to US$91,000/tonne in April 2018.

READ: Tyranna Resources adds another string to its bow with acquisition of Nevada cobalt asset

Tyranna’s recent rock chip results from the Goodsprings area have confirmed a polymetallic suite of minerals hosted in vein, bedded, and replacement deposits throughout the project area, including:

• Cobalt assay highlights : >1% , 0.855% , 0.115%;
• Copper assay highlights : 22.50% , 15.20% , 5.07%;
• Zinc assay highlights : > 30.0% , 24.90% , 4.27%; and
• Lead assay highlights : >20.0% , 6.07%.

Assay results have confirmed the high-grade nature of the project

Tyranna managing director Bruno Seneque said: “These first phase exploration results add considerably to the upside potential of the Goodsprings project and have provided the impetus to accelerate the exploration effort.

“Tyranna exploration team are aggressively exploring the area around the Whale mine because it reported significant mineralisation from previous production records and the recent assays, is easily accessible and has not been subjected to any modern exploration techniques.

“We understood from the due diligence that the Goodsprings area is a well-endowed mineralised district for Cobalt and base metals with these assay results confirming the high-grade nature of the project”

Opportunity to define cobalt oxide targets

The earliest reported mining production in the Goodsprings Mining District was conducted in 1856 and the district contains numerous copper, zinc, lead, gold and cobalt mines.

Cobalt oxide is found in the wall rock of nearly every copper deposit in the district.

Due to the lack of any modern exploration, Tyranna’s project area presents a very attractive opportunity to deploy modern exploration techniques.

The company has commissioned photogeological interpretation to define structural controls, which will help in generating targets.

Meanwhile, exploration work is ongoing at the highly prospective Whale Mine within the project area.

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Wed, 11 Apr 2018 11:31:00 +1000 http://www.proactiveinvestors.com.au/companies/news/194689/tyranna-resources-reveals-high-grade-cobalt-from-rock-chip-assays-in-nevada-194689.html
<![CDATA[News - Tyranna Resources completes due diligence for cobalt acquisition ]]> http://www.proactiveinvestors.com.au/companies/news/194459/tyranna-resources-completes-due-diligence-for-cobalt-acquisition-194459.html Tyranna Resources Ltd (ASX:TYX) has completed its due diligence on the Goodsprings Cobalt and Base Metals Project in the US state of Nevada.

On 22 March, 2018, Tyranna entered into a binding option agreement to acquire 100% of the Goodsprings Cobalt and Base Metals Project.

The company purchased the option for $100,000 and had 14 days to complete due diligence and make a decision to purchase.

READ: Tyranna Resources to acquire high-grade cobalt and base metals project, shares jump 30%

Both parties will now work together to satisfy all of the conditions precedent, which include the drafting of the sale and purchase agreement. 

The acquisition would move Tyranna into the cobalt space

The Goodsprings Cobalt and Base Metals Project comprises 329 mining claims covering 26.6 square kilometres.

In the early 1920s around 20 tons of cobalt-rich ore was shipped from four separate copper mines to processing facilities.

Significantly, these shipments assayed between 6% and 29% cobalt.

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Mon, 09 Apr 2018 08:20:00 +1000 http://www.proactiveinvestors.com.au/companies/news/194459/tyranna-resources-completes-due-diligence-for-cobalt-acquisition-194459.html
<![CDATA[News - Tyranna Resources and partner eyes high-grade gold shoots at Weednanna ]]> http://www.proactiveinvestors.com.au/companies/news/194297/tyranna-resources-and-partner-eyes-high-grade-gold-shoots-at-weednanna-194297.html Tyranna Resources Ltd (ASX:TYX) and joint venture partner Alliance Resources (ASX:AGS) is commencing a high-resolution gravity survey at the Weednanna gold prospect in South Australia.

The Weednanna prospect forms part of the Wilcherry Project Joint Venture between Tyranna (32.65%) and Alliance (67.35%).

READ: Tyranna Resources leveraged to partner’s high-grade gold hits at Wilcherry project

Earlier this week, the companies received high-grade gold results from Weednanna, including 4 metres at 28.1 g/t gold from 96 metres.

Alliance managing director Steve Johnston said: “Successful drill results have shown us that this deposit has high potential for economic development with what we’ve discovered so far.

“This close-spaced gravity survey will provide a powerful targeting tool to help unlock the further potential of the high-grade Weednanna gold system.”

Targeting new gold lodes within the prospect

The high-resolution gravity survey at Weednanna and surrounds will assist with mapping the sub-surface geology, particularly the target corridors that host high-grade gold shoots.

The data will complement the existing airborne magnetic, induced polarisation and drilling datasets at Weednanna and will be used for 3D inversion modelling to assist with targeting new gold lodes.

The survey is scheduled to take two weeks to complete.

READ: Tyranna Resources adds another string to its bow with acquisition of Nevada cobalt asset

Tyranna recently improved its asset spread with the proposed acquisition of a cobalt project in Nevada.

With the company already having exposure to precious and base metals, the obvious area to invest in was the battery minerals space.

Tyranna managing director Bruno Seneque explains why and how the company is establishing the new battery minerals division to complement its Australian gold portfolio:

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Thu, 05 Apr 2018 15:22:00 +1000 http://www.proactiveinvestors.com.au/companies/news/194297/tyranna-resources-and-partner-eyes-high-grade-gold-shoots-at-weednanna-194297.html
<![CDATA[News - Tyranna Resources leveraged to partner’s high-grade gold hits at Wilcherry project ]]> http://www.proactiveinvestors.com.au/companies/news/194211/tyranna-resources-leveraged-to-partners-high-grade-gold-hits-at-wilcherry-project-194211.html Tyranna Resources Ltd (ASX:TYX) joint venture partner Alliance Resources Limited (ASX:AGS) has received high-grade gold results from the Wilcherry project in South Australia.

Reverse circulation (RC) drilling at Target 4 of the Weednanna prospect has returned up to 4 metres at 28.1 g/t gold from 96 metres within a broader 12-metre intersection from 92 metres at 10.2 g/t.

READ: Tyranna Resources advances drilling at high-grade Weednanna gold prospect

The drilling program was designed to define the geometry of Target 4 with 19 holes testing Target 4 and three initial holes testing the new Target 5.

Alliance managing director Steve Johnston said: “These latest results from drilling at Targets 4 and 5 indicate very robust gold intercepts.

“They reinforce our view of Weednanna as a growing high-grade gold system that we are continuing to progress successfully with each round of drilling.”

WATCH NOW: Tyranna Resources develops new battery minerals division

A total of 22 RC holes were drilled for 3,138 metres and the program was completed in March.

Weednanna is part of the Wilcherry joint venture in South Australia.

Also among the best results from the first 17 holes are 16 metres at 3.2 g/t from 84 metres and 4 metres at 12.4 g/t from 52 metres.

Best Target 5 result is 8 metres at 2.2 g/t from 164 metres.

Of the 17 holes, 14 reported intersections of greater than 1 g/t, with three holes returning greater than 50 g/t per metre.

READ: Tyranna Resources adds another string to its bow with acquisition of Nevada cobalt asset

The mineralisation is open down dip in the east on most sections and/or down plunge to the south.

Further RC drilling is planned in 2018 to define the limits of gold mineralisation at Targets 4 and 5 and to test new target areas.

Tyranna has a 32.65% interest in the joint venture with Alliance holding the remainder.

Weednanna is the most advanced gold prospect at the Wilcherry joint venture and close-spaced drilling is required for more accurate definition.

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Wed, 04 Apr 2018 16:20:00 +1000 http://www.proactiveinvestors.com.au/companies/news/194211/tyranna-resources-leveraged-to-partners-high-grade-gold-hits-at-wilcherry-project-194211.html
<![CDATA[News - Tyranna Resources adds another string to its bow with acquisition of Nevada cobalt asset ]]> http://www.proactiveinvestors.com.au/companies/news/193924/tyranna-resources-adds-another-string-to-its-bow-with-acquisition-of-nevada-cobalt-asset-193924.html Tyranna Resources Ltd (ASX:TYX) should suit investors who place a substantial emphasis on diversification.

The company and its asset spread improved even further this week with the proposed acquisition of a cobalt project in Nevada.

Not only does Tyranna now have multiple projects in Australia and overseas, but it is leveraged to a wide range of commodities.

Importantly, the company also offers its shareholders exposure to producing assets and exploration prospects.

Entry into cobalt

Tyranna entered into a binding option agreement to acquire private company, US Cobalt Pty Ltd (US Cobalt), the owner of Goodsprings Cobalt and Base Metals Project.

Tyranna managing director Bruno Seneque said: “Tyranna Resources has grown as a diversified minerals exploration business which, for a junior resources company, now has an extensive portfolio of assets that we can develop for the benefit of shareholders.

“The company is well funded and nimble enough to take advantage of good opportunities when they arise and the board identified US Cobalt, its management and its assets as an excellent opportunity to bring further value to the company.” 

WATCH: Tyranna Resources develops new battery minerals division

Given Tyranna’s mandate as an active explorer, and one with considerable success, Seneque’s justification for entering the battery minerals space was hard to fault.

With the company already having exposure to precious and base metals, the obvious area to invest in was the battery minerals space.

The location also appealed with Nevada being a mining friendly jurisdiction.

Production history at Goodsprings

The Goodsprings project comprises 329 mining claims covering 6,580 acres in southern Nevada, 48 kilometres from Las Vegas.

Earliest reported mining production was conducted in 1856 and the district contains numerous copper, zinc, lead, gold and cobalt mines.

Goodsprings cobalt and base metals project claims in blue shading.

The diverse range of minerals extracted within the district is hosted in vein, bedded and replacement deposits.

Zinc and lead were recovered from carbonate-hosted MVT (Mississippi Valley Type) replacement occurrences.

Cobalt oxide present in copper deposits

Cobalt oxide is found in the wall rock of nearly every copper deposit in the district and historic reports note that locally, cobalt is abundant.

In the early 1920’s, about 20 tonnes of cobalt-rich ore was shipped from four separate copper mines to processing facilities.

These shipments assayed between 6% and 29% cobalt.

Records indicate that mining in the district ceased in 1921-1922 and it appears that little work has been undertaken in the Goodsprings district since this time. 

Investors embrace Tyranna’s adventurous approach

Tyranna's thirst for exploration and diversification has been welcomed.

Seneque said: “Australians have a reputation for being good explorers.

“We’re not scared of taking risks and so we’ve been welcomed with open arms by the Americans and I think that bodes very well for our strategy going forward.”

It is this proactive approach that appears to have attracted high profile investors to the company but it also suggests that Tyranna has a good feel for the risk-reward equation.

Given the strong increase in the cobalt price which is now around US$93,000 per tonne, representing a near 200% increase since the start of 2017, the Goodsprings deal makes sense.

Shares post intra-day gain of 50%

The acquisition received a vote of confidence from shareholders with Tyranna’s shares surging about 50% to an intraday high of 3.1 cents on the day the news was released.

The timing of the Goodsprings purchase was also right as the company’s balance sheet had been strengthened by capital raisings.

Tyranna completed an oversubscribed share placement in February, raising $2.5 million at 1.7 cents per share.

READ: Tyranna Resources raises $2.55 million in heavily oversubscribed placement

At the time of the placement, management highlighted the fact that this capital would be used to advance the Eureka Gold Project in Western Australia.

Though this remains the case, it also gave the company the financial flexibility to consider options such as Goodsprings.

Tyranna remains well-funded for other growth initiatives

Seneque noted that the company had $8 million in cash and investments, providing ample near-term cash flow to fund exploration and development across its portfolio.

Realisation for the acquisition was predominantly in the way of shares, leaving sufficient working capital to quickly progress exploration at Goodsprings.

Near-term share price catalysts

Seneque pointed to key announcements to monitor in the coming weeks relating to the battery minerals expansion as well as the Eureka, Wilcherry Hill and Jumbuck gold and base metals projects.

With regards to Goodsprings, it is likely to be deal completion and early stage rock chip sampling data that provides the most interest.

Tyranna has completed drilling at the Greenwood Gold/Campfire Bore prospects in the Gawler area of South Australia, a highly prospective gold region.

The area being explored is close to the Jumbuck Gold Project with similar style mineralisation to that being mined at the 6.3 million-ounce Tropicana gold project.

Prospects at the Jumbuck Gold Project.

The company established a maiden inferred gold resource of 219,000 ounces at Jumbuck in 2017.

Seneque said an upgrade of this resource was a near-term priority, and indeed this would be a potential share price catalyst.

Tyranna transitioning to producer at Eureka

An agreement to acquire the Eureka Project was signed 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 a historical non-JORC mineral resource of 451,000 tonnes at 4.4 g/t gold for 64,200 ounces of contained gold.

The project is 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.

Cash generation adds a whole new dimension

As Tyranna receives maiden revenues from production, the diversification will be complete with the company having a cash-generating project in its portfolio.

This is no mean feat for a company with a market capitalisation of less than $20 million, suggesting it is punching well above its weight.

Furthermore, it should provide the company with internal funding to drive exploration and development of other projects rather than relying solely on capital raisings.

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Wed, 28 Mar 2018 14:07:00 +1100 http://www.proactiveinvestors.com.au/companies/news/193924/tyranna-resources-adds-another-string-to-its-bow-with-acquisition-of-nevada-cobalt-asset-193924.html
<![CDATA[Media files - Tyranna Resources develops new battery minerals division ]]> http://www.proactiveinvestors.com.au/companies/stocktube/8959/tyranna-resources-develops-new-battery-minerals-division-8959.html Tue, 27 Mar 2018 23:44:00 +1100 http://www.proactiveinvestors.com.au/companies/stocktube/8959/tyranna-resources-develops-new-battery-minerals-division-8959.html <![CDATA[News - Tyranna Resources to acquire high-grade cobalt and base metals project, shares jump 30% ]]> http://www.proactiveinvestors.com.au/companies/news/193592/tyranna-resources-to-acquire-high-grade-cobalt-and-base-metals-project-shares-jump-30-193592.html Tyranna Resources Ltd (ASX:TYX) has entered into a binding option agreement to acquire 100% of the Goodsprings Cobalt and Base Metals Project in the US state of Nevada.

The company has purchased the option for $100,000 which gives it 14 days to complete due diligence and make a decision to purchase.

If Tyranna chooses to acquire the project, it will issue 141.1 million shares valued at 1.7 cents and 50 million options.

Shares in the company were up 30% intra-day to 2.6 cents after spiking at 3.1 cents earlier.

The acquisition would move Tyranna into the cobalt space

The acquisition is part of Tyranna’s diversification strategy aimed at capitalising on the battery minerals revolution.

Anticipated growth in electric vehicles (EVs) has supported a recent surge in the cobalt price to US$88,000 per tonne, a 280% increase over the past two years.

Notably, the project is located in stable mining friendly state of Nevada and 700 kilometres from Tesla Inc’s (NASDAQ:TSLA) Gigafactory.

Tyranna’s managing director Bruno Seneque said: “The company is well-funded and nimble enough to take advantage of good opportunities when they arise and the board of Tyranna identified US cobalt, its management and its assets as an excellent opportunity to bring further value to the company.”

Project has a history of mining

The Goodsprings Cobalt and Base Metals Project comprises 329 mining claims covering 26.6 square kilometres.

Cobalt oxide is found in the wall rock of nearly every copper deposit in the district and historical reports note that locally, cobalt is abundant.

In the early 1920s around 20 tons of cobalt-rich ore was shipped from four separate copper mines to processing facilities.

Significantly, these shipments assayed between 6% and 29% cobalt.

Results are pending from a stream sediment and rock chip sampling program recently completed.

Lack of modern exploration presents an opportunity

Due to the lack of any modern exploration, the project area presents attractive opportunities to deploy modern exploration techniques.

Tyranna is well funded with $8 million in cash and investments to progress high impact exploration program to commence immediately on settlement of acquisition.

Klaus Eckhof and Greg Smith to lead the project

Mining identity Klaus Eckhof will be appointed as a strategic advisor and Greg Smith as an exploration consultant.

Eckhof is the executive chairman of AVZ Minerals Ltd (ASX:AVZ) which is developing one of the world’s largest lithium pegmatite deposits and has a market cap of $530 million.

Eckhof also founded Moto Goldmines which acquired the Moto Gold Project, which was sold to Randgold Resources (LON:RRS) for about US$500 million.

Smith has over 40 years experience as an exploration and mining geologist and was previously exploration manager for Moto Goldmines.

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Thu, 22 Mar 2018 12:13:00 +1100 http://www.proactiveinvestors.com.au/companies/news/193592/tyranna-resources-to-acquire-high-grade-cobalt-and-base-metals-project-shares-jump-30-193592.html
<![CDATA[News - Tyranna Resources in trading halt ahead of project acquisition ]]> http://www.proactiveinvestors.com.au/companies/news/193414/tyranna-resources-in-trading-halt-ahead-of-project-acquisition-193414.html Tyranna Resources Ltd (ASX:TYX) was granted a trading halt yesterday by the Australian Securities Exchange (ASX).

The trading halt was requested pending the release of information regarding a project acquisition.

Last month the company raised $2.55 million in an oversubscribed share placement priced at 1.7 cents.

READ: Tyranna Resources set to explore Eureka Gold Project after oversubscribed placement

The company has exploration programs across multiple fronts.

Most recently, Tyranna completed drilling at the Greenwood Gold/Campfire Bore prospects in the Gawler area of South Australia, a highly prospective gold region.

Five holes were drilled for a combined total of 780 metres and assays are pending.

READ: Tyranna Resources completes drilling program at Gawler Craton as it prepares for scoping study

Tyranna also recently provided an update on the ongoing drilling program at the Weednanna gold prospect within the Wilcherry Project located on the Eyre Peninsula in South Australia.

Reverse circulation drilling commenced at the Weednanna gold prospect on February 21 to test the limits of the new Target 4 gold zone.

READ: Tyranna Resources advances drilling at high-grade Weednanna gold prospect

Joint venture partner, Alliance Resources Limited (ASX:AGS) drilled out high-grade gold in the third phase of drilling at the Weednanna Target 4 zone in January 2018.

Results included 15 metres at 18.21 g/t gold from 107 metres and 7 metres at 35.94 g/t gold from 109 metres.

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Tue, 20 Mar 2018 08:14:00 +1100 http://www.proactiveinvestors.com.au/companies/news/193414/tyranna-resources-in-trading-halt-ahead-of-project-acquisition-193414.html
<![CDATA[News - Tyranna Resources completes drilling program at Gawler Craton as it prepares for scoping study ]]> http://www.proactiveinvestors.com.au/companies/news/193335/tyranna-resources-completes-drilling-program-at-gawler-craton-as-it-prepares-for-scoping-study-193335.html Tyranna Resources Ltd (ASX:TYX) has completed drilling at the Greenwood Gold/Campfire Bore prospects in the Gawler area of South Australia, a highly prospective gold region.

The area being explored is close to the Jumbuck Gold Project with similar style mineralisation to that being mined at the 6.3 million ounce Tropicana gold project.

Tyranna is manager of the Western Gawler Craton Joint Venture which includes WPG Resources Ltd (ASX:WPG) who owns 23% alongside Tyranna's 77%.

READ: WPG Resources to grow gold resources with JV partner

Five holes were drilled for a combined total of 780 metres.

Updating of resource model

The drilling was aimed at gaining accurate structural information and geotechnical data in the zone below 100 metres to update the current resource model.

The diamond core is still being processed, sampled and assayed.

Once all data has been received the next step is to review and update the resource block models.

Data to feed into scoping study

Once this has been done, a scoping study will be conducted to assess the economic viability of open cut mining on the Jumbuck deposits.

 It is expected that a resource update will be completed during the June 2018 quarter and the scoping study during the September 2018 quarter. 

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Mon, 19 Mar 2018 09:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/193335/tyranna-resources-completes-drilling-program-at-gawler-craton-as-it-prepares-for-scoping-study-193335.html
<![CDATA[News - Tyranna Resources advances drilling at high-grade Weednanna gold prospect ]]> http://www.proactiveinvestors.com.au/companies/news/192314/tyranna-resources-advances-drilling-at-high-grade-weednanna-gold-prospect-192314.html Tyranna Resources Ltd (ASX:TYX) has provided an update of the ongoing drilling program at the Weednanna gold prospect located on the Eyre Peninsula in South Australia.

The company is well-placed to progress its aggressive exploration program across a range of assets in 2018, having raised circa $2.5 million through a recent placement.

READ: Tyranna Resources set to explore Eureka Gold Project after oversubscribed placement

This is part of the Wilcherry Project, a joint venture between Alliance Resources Limited (ASX:AGS) (67.35%) and Tyranna (32.65%).

Reverse circulation drilling commenced at the Weednanna gold prospect on February 21 to test the limits of the new Target 4 gold zone.

Testing a new zone

Ten holes have been completed to date spanning 1,434 metres.

Following completion of the Target 4 drilling, three holes will be drilled at Target 5, a new gold target area.

The group will then return to the regional targets to drill test the remainder of the shallow anomalies for base metals.

Third phase drilling delivered high-grade results

In January, Alliance announced high-grade gold results from the third phase of drilling at the Weednanna Target 4 zone.

These included 15 metres at 18.21 g/t gold from 107 metres and 7 metres at 35.94 g/t gold from 109 metres.

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Wed, 28 Feb 2018 14:19:00 +1100 http://www.proactiveinvestors.com.au/companies/news/192314/tyranna-resources-advances-drilling-at-high-grade-weednanna-gold-prospect-192314.html
<![CDATA[News - Tyranna Resources set to explore Eureka Gold Project after oversubscribed placement ]]> http://www.proactiveinvestors.com.au/companies/news/192225/tyranna-resources-set-to-explore-eureka-gold-project-after-oversubscribed-placement-192225.html Tyranna Resources Ltd (ASX:TYX) has concluded a heavily oversubscribed $2.55 million share placement at $0.017 each to advance the newly acquired Eureka Gold Project in Western Australia.

READ: Tyranna Resources raises $2.55 million in heavily oversubscribed placement

The company received strong market and shareholder support for the capital raising with four company directors intending to subscribe for $10,000 worth of shares each.

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

Drilling program to follow-up historical bonanza gold hits

Tyranna is planning a drilling program at Eureka to 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 identified

Tyranna has identified several high priority targets after a comprehensive review of available geological and geophysical data.

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

READ: Tyranna Resources leveraged to exploration upside through more drilling ]]>
Tue, 27 Feb 2018 14:01:00 +1100 http://www.proactiveinvestors.com.au/companies/news/192225/tyranna-resources-set-to-explore-eureka-gold-project-after-oversubscribed-placement-192225.html
<![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