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Tyranna Resources to lift cash position for gold hunt in South Australia

The halt will remain in place until Thursday 26th August 2017.
Tyranna Resources to lift cash position for gold hunt in South Australia
WPG Resources has a mill within trucking distance of Typhoon

Tyranna Resources Ltd (ASX:TYX) is heading to market with a capital raising, and the ASX has granted the company a trading halt to prepare.

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

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

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

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

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

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Tyranna Resources Ltd Timeline

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