Sign up Australia
Proactive Investors - Run By Investors For Investors

Tyranna Resources shares rise on maiden gold resource at Jumbuck

Tyranna Resources (ASX:TYX) has reported the maiden JORC 2012 inferred resource for its Jumbuck Gold Project of 219,000 ounces gold.
Tyranna Resources shares rise on maiden gold resource at Jumbuck
Tyranna Resources shares rise on maiden gold resource at Jumbuck

The company’s shares were last trading 11% up intra-day, at $0.03.

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

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

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

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

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

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

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

View full TYX profile View Profile

Tyranna Resources Ltd Timeline

Related Articles

silver-city-minerals_Drill-Rig-Razorback-West-Nov-2016-highres-757.jpg
November 04 2016
The company has a zinc and lithium focus in the world-class Broken Hill region.
picture of electric car
June 19 2017
Finncap estimates the shares are worth 11p on a risked basis or more than double the current share price.
Gold-plus-dollars.jpg
April 25 2017
The acquisition of the Hellyer mine looks set to be transformational for NQ Minerals

© Proactive Investors 2017

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use