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Tyranna Resources drills for gold at Typhoon

Tyranna's joint venture partner, WPG Resources has a mill within trucking distance.

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Drilling is working towards a maiden resource estimate

Tyranna Resources (ASX:TYX) has commenced follow-up drilling at the Typhoon gold prospect within the Western Gawlor Craton Joint Venture located in South Australia.

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

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

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

Follow-up drilling plan

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

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

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

Western Gawler Craton Joint Venture

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

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

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

Quick facts: Tyranna Resources Ltd

Price: 0.003 AUD

ASX:TYX
Market: ASX
Market Cap: $3.17 m
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