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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.

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