viewTyranna Resources Ltd

Tyranna Resources’ due diligence on Dragon and Knights projects confirm high nickel-copper prospectivity

The company has also received the $50,000 option fee relating to its now binding agreement with Syngas Limited to acquire the Jumbuck Gold Project for $950,000.

Tyranna Resources Ltd -  Tyranna Resources Limited’s due diligence on Dragon and Knights Nickel Projects confirm high prospectivity
The board remains optimistic about the outlook for nickel

Tyranna Resources Limited’s (ASX:TYX) due diligence on the Dragon and Knights projects in Western Australia has confirmed that the projects are highly prospective for nickel-copper sulphides.

The company’s geology consultant has spent considerable time reviewing available information on the prospective nickel projects and has verified the following:

  • Both projects are granted and in good standing with the WA Department of Mines and Petroleum;
  • There is an aggregate 44-kilometre strike zone which intersects the Dragon & Knight projects in two locations;
  • These are two parallel east-northeast trending regional dykes that control nickel-copper sulphide mineralisation which contain highly prospective targets for follow-up exploratory work; and
  • The independent geology consultant has already identified priority target areas which have elevated nickel-copper historical assay results near surface.

Priority targets outlined

Director Joe Graziana said: “It is encouraging that our geology consultant has confirmed the 44 kilometres of aggregate strike zones across the Dragon and Knight projects, as the underlying regional dykes potentially host significant nickel-copper mineralisation.

“More importantly, the team has outlined priority targets which will be our focus areas once exploration gets underway.

“The board remains optimistic about the outlook for nickel over the longer-term and is looking forward to completing this transaction.

“Concurrently, we look forward to closing out the share purchase agreement with Syngas Limited (ASX:SYS) for the Jumbuck Gold Project.”

The historical datasets that have been reviewed over the Lightning gossan provide mineral prospectivity results, evaluated as ‘exploration results’ for mineral prospectivity and additional exploratory work would have to be completed to geologically model and then estimate a mineral resource.

Overall, the geology consultant’s final recommendation to the board is the Dragon & Knight projects are highly prospective and deliver significant exploration upside for nickel-copper sulphide mineralisation.

Quick facts: Tyranna Resources Ltd

Price: 0.004 AUD

Market: ASX
Market Cap: $4.47 m

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