Tyranna Resources claims new Jumbuck gold discovery

THE DRILL SERGEANT: Tyranna Resources (TYX: ASX) has claimed a new gold discovery at the company’s Jumbuck project in the Northern Gawler block of South Australia.

The discovery – to be known as the Greenwood prospect – stems from the receipt  of assay results from the first 21 reverse circulation (RC) drill holes carried out at the project’s Mainwood prospect.

These holes (16MWRC001 to 16MWRC21) are the first half of a 42 RC hole program planned at Mainwood.

The remaining 21 holes are currently being drilled.

Tyranna said that when the drilling at Mainwood is completed the rig will be moved to the Camp Fire Bore prospect to complete the overall 6,200 metres planned for this first phase of drilling.

The drilling has encountered three Intercepts over 75 metres strike extent, which remain open ended of:

2 metres at 7.94 grams per tonne gold from 41m down hole, including 1m at 14.1g/t gold from 41m;

3m at 2.45g/t gold from 31m down hole; and

2m at 2.36g/t gold from 30m down hole.

“The discovery of the Greenewood prospect now opens up a new front for the further discovery of near surface gold resources, which will help in achieving Tyranna’s stated goal of attaining over 500,000 ounces of gold, in resource, by the end of 2016,” Tyranna Resources said in its ASX announcement.

“The discovery also opens up the possibility that the new Greenewood prospect may be linked, not only to the Mainwood prospect 800 metres to the South West, but also to the Camp Fire Bore prospect to the North.

“With like rock types, of similar ages in the same geological setting, the increasing geological similarities of the Jumbuck terrain with the linear to curvilinear bodies of the Tropicana deposits in the Albany/ Fraser Ranges of Western Australia are becoming increasingly evident.”

Email: info@tyrannaresources.com

Website: www.tyrannaresources.com