Sign up Australia
Proactive Investors - Run By Investors For Investors

Tyranna Resources shares surge as conglomerate gold rush continues

Several high-profile discoveries reported recently in the Pilbara region.
rising share price chart
The company’s shares closed 50% higher

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.

View full TYX profile View Profile

Tyranna Resources Ltd Timeline

Related Articles

map of project area
March 26 2018
The prospect of an IOCG deposit, similar to Olympic Dam, has ignited interest in the stock.
barseele_master.png
September 30 2017
The firm owns 45% of the property, while joint venture partner Agnico Eagle has the rest (55%).
coal price rise sign
June 12 2018
City firm Peel Hunt has moved its recommendation to 'buy' from 'add'

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

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