THE DRILL SERGEANT: Tyranna Resources (ASX: TYX) announced preparations for the commencement of an extensive Jumbuck gold project exploration campaign in South Australia.
Tyranna Resources is manager of the Western Gawler Craton Joint Venture, which includes WPG Resources (ASX: WPG) and Coombedown Resources.
Tyranna said the Jumbuck gold project second half exploration campaign will commence in early August 2017.
The purpose of the drill programs is to increase the current resource at Jumbuck from 219,000 ounces of gold, to the company’s initial exploration target of 500,000 ounces.
Tyranna is confident this program will provide an upgrade within company’s f group of tenements surrounding the Challenger gold mine operation.
Drill programs carried out by Tyranna over the past 12 months at targets within the Jumbuck gold project have returned encouraging gold intercepts, encouraging the company to continue to progress its strategy to build its gold endowment sufficient for a standalone gold project.
“These drill results to date at our target prospects within Jumbuck clearly indicate that we have high-grade and plentiful gold mineralisation,” Tyranna Resources managing director Bruno Seneque said in the company’s announcement to the Australian Securities Exchange.
“Drilling to date has enhanced our knowledge of the geological settings and assisted us to effectively adjust our drill program to focus on building our gold resource.
“We know we have a good project on our hands and now we are getting down to the business of extracting that value by building the Resource.”