Proactive Investors - Run By Investors For Investors

Tyranna Resources encounters 5.13 g/t gold near Challenger mine in South Australia

The drilling program is designed to upgrade resources from an inferred to indicated category.
South Australia map
South Australia is among Tyranna's focus

Tyranna Resources Ltd (ASX:TYX) has intersected 15 metres at 3.02 g/t gold from 36 metres during drilling into shallow supergene mineralisation at Campfire Bore gold prospect in South Australia.

The prospect’s mineralisation is found within the wider Jumbuck Gold Project area and starts 12 metres from surface, Western Gawler Craton Joint Venture manager Tyranna reported today.

The JV is owned by a number of parties, including Tyranna, WPG Resources Ltd (ASX:WPG) and Coombedown Resources Pty Ltd.

READ: Tyranna Resources dilutes joint venture interest as focus shifts to own projects

The infill drilling program was aimed at upgrading Campfire Bore’s JORC-compliant inferred resource to the indicated category.

Tyranna’s best intersection from the campaign at Campfire Bore also included 6 metres at 5.13 g/t gold.

Thirty-five reverse circulation (RC) holes for 1,989 metres were drilled at Campfire Boreand the results will be incorporated into the resource model when it is updated.

READ: WPG Resources eyes mill feed for Challenger after Jumbuck resource upgrade

Tyranna managing director Bruno Seneque said: “Finding good grades so close to surface was a welcome surprise and interfacing the supergene at these levels underscores our confidence in this project.

“This infill program just completed is a major step forwards for Campfire Bore and will allow the company to upgrade and increase the confidence of the current resource.

“The closer-spaced drilling will also allow the Tyranna team to shore up internal structural and mineralisation models which will have a positive impact for exploration, not only at Campfire Bore, but over the whole Jumbuck project area.”

READ: Tyranna Resources increases Jumbuck gold resource to 319,000 ounces

Jumbuck is within trucking distance of JV investor WPG’s wholly-owned 1.2-million-ounce Challenger gold mine.

Earlier this year, the JV increased the gold resource at Jumbuck by 46% or 100,000 ounces to 319,000 ounces at an average grade of 1.1 g/t gold.

The project includes five other deposits besides Campfire Bore —Golf Bore, Greenewood, Monsoon, Typhoon and Mainwood.

WPG Resources went into administration at the end of the financial year, with RSM Australia Partners taking over the junior miner's operations and controlling its assets.

View full TYX profile View Profile

Tyranna Resources Ltd Timeline

Related Articles

Lithium on table of elements
April 05 2019
The McDermitt Lithium Project features a high-grade ETR of 20-80 million tonnes at 2100-2600 ppm.
Inspection at Cangai property
April 29 2019
The company has the Cangai Copper Project in northern NSW as its flagship asset.
May 09 2019
Gold explorer's next move is to carry out geophysical surveys at its main prospect

© Proactive Investors 2019

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