In addition, Tyranna is acquiring the Pacific Express Project in northern New South Wales which has a number of prospects upon which historical exploration air-core drilling had occurred.
These acquisitions are strategic and deliver Tyranna direct exposure to nickel and copper at a time when global dynamics imply further upward price pressure due to ongoing concerns about a widening forward supply deficit.
Transformative move for Tyranna
Tyranna director Joe Graziano said: “Entering into this transaction reflects the Board’s strategic decision to secure direct exposure to nickel at a time when the global demand-supply fundamentals are increasingly favourable.
“Our initial focus will be exploring the 36km strike that traverses the Dragon & Knight projects for nickel massive sulphide mineralisation as this delivers significant exploration upside.
“This is an exciting transformative move for Tyranna and the Board looks forward to keeping shareholders apprised of developments as they materialise.”
Dragon & Knight
The Dragon & Knight projects are in a region in WA that is prospective for massive and semi-massive nickel-copper-cobalt sulphide mineralisation.
The contiguous tenements covering about 352 square kilometres, contain a 36 kilometre strike portion of a regional sheeted dyke originating about 30 kilometres west at St George Mining Ltd’s (ASX:SGQ) Mt Alexander project where significant nickel-copper sulphide mineralisation has been discovered.
The two east-north-east trending structures – interpreted to represent regional dykes – comprise sheeted igneous intrusive rocks hosting nickel-copper-cobalt sulphide mineralisation that cut across the region (yellow lines). These structures are prospective for nickel-copper-cobalt sulphide mineralisation.
Pacific Express Project, NSW
The Pacific Express Project in northern NSW covers about 105 square kilometres, with historical air-core drilling completed by Jervois
Over the years, previous owners of the Pacific Express project have undertaken various drilling campaigns (1996 – 1999) and exploration activity focused on six prospects across the tenure.