Tyranna Resources declares Jumbuck exploration target

THE DRILL SERGEANT: Tyranna Resources (ASX: TYX) has declared an exploration target over the company’s Jumbuck project in South Australia.

Tyranna Resources is manager of the Western Gawler Craton Joint Venture, which encapsulates the Jumbuck project, with WPG Resources (ASX: WPG) and Coombedown Resources Pty. Ltd.

Tyranna released an exploration target of 500,000 ounces of gold with a range of 157,000 ounces of gold to 771,000 ounces of gold (at 1.5 grams per tonne to 3g/t).

The company explained the exploration target has been defined over seven prospect areas within the Jumbuck project, including Golf Bore, Golf Bore North, Mainwood, the recently-discovered Greenwood, Campfire Bore, Monsoon, and Typhoon.

“The exploration target represents potential gold endowment identified by previous exploration activities,” Tyranna Resources said in its ASX announcement.

“The potential quantity and grade of the Exploration Targets are conceptual in nature.

“There has been insufficient exploration to estimate a Mineral Resource, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.”

Tyranna explained the Exploration Target has been determined using a range of parameters including, the strike and extent of existing drilling, a review of know mineralised structures, exploration results to date, and the nature of mineralisation at the Challenger gold mine and Golf Bore, which the JV considers to be analogous to the mineralisation within the larger Jumbuck project.

“Geological interpretations of all prospects are continuing with a view of defining further drill targets to test extensions of known mineralisation,” Tyranna said.

Email: info@tyrannaresources.com

Website: www.tyrannaresources.com