The company recently completed a reverse circulation (RC) drilling program at the Campfire Bore Gold Prospect within its Jumbuck Gold Project.
Campfire Bore is 40 kilometres north of the Challenger Gold Mine, which is owned by Tyranna’s 20% joint venture partner in the Jumbuck project, WPG Resources Ltd (ASX:WPG).
It is worth noting that Challenger has produced 1 million ounces of gold at 6 g/t gold since 2002 (from surface to 1-kilometre depth vertically).
Interestingly, Tyranna’s gold prospects have the potential to be the next Challenger mine (limited deep drilling in primary zone).
Thirty-five reverse circulation (RC) holes for 1,989 metres were drilled at Campfire Bore and the results will be incorporated into the resource model when it is updated.
Results confirmed high-grade shallow intercept from 12 metres below surface including:
• 15 metres at 3.02 g/t gold from 36 metres including 6 metres at 5.13 g/t gold;
• 12 metres at 1.58 g/t gold from 39 metres; and
• 7 metres at 2.19 g/t gold from 12 metres including 1 metre at 11.6 g/t gold.
Earlier this year, the gold resource at Jumbuck was increased 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.