ASX CODE: TYX
DIRECTORS
Joseph S. Pinto
Non-Executive Chairman
Bruno Seneque Managing Director
Nick Revell Technical Director
Frank Lesko
Non-Executive Director
Yugi Gouw CFO/Company Secretary
SHARE REGISTRY
Advanced Share Registry Limited
110 Stirling Highway
Nedlands WA 6009
T: +61 8 9389 8033
F: +61 8 9389 7871 REGISTERED OFFICE
Level 2 679 Murray Street
West Perth WA 6005 P: +61 8 9485 1040
F: +61 8 9485 1050
18 October 2016
Drill Results Confirm Depth Extension at Greenewood Gold Prospect
Highlights
-
34 new holes drilled into Greenewood Discovery
-
Best Intersections at depth include :
-
Hole 016: 4m @ 4.3 g/t gold from 86m
-
Hole 016: 5m @ 2.2 g/t gold from 104m
-
Hole 026: 1m @ 8.6 g/t gold from 77m
-
Assay results received for Holes 16GWRC013 to 16GWRC029 (17 holes). Holes 030 to 041 are pending.
-
Mineralisation has now been established along a continuous structure 60m down dip and remains open at depth.
The Directors of Tyranna Resources Limited (ASX: TYX), as manager of the Western Gawler Craton Joint Venture which includes WPG Resources Ltd (ASX: WPG) and Coombedown Resources Pty. Ltd. are pleased to announce assay results from the first 17 reverse circulation (RC) holes drilled at the Greenewood Gold Prospect, which is approximately 37 km from the Challenger Gold Mine and part of the large Jumbuck Gold Project in the Northern Gawler Block of South Australia.
Holes 16GWRC013 to 16GWRC029 were drilled to test down dip of previously established gold mineralisation as well as a possible northern extension to the prospect.
Hole 16GWRC016 was drilled beneath 16GWRC012 (which intercepted [email protected]/t Au from 53m earlier this year) and proved the down dip continuity with an intercept of [email protected]/t Au from 86m, including [email protected]/t Au (see Figure 2). Mineralisation has now been established along a continuous structure 60m down dip and remains open.
Furthermore, a lower zone of mineralisation was also intersected with a grade of [email protected]/t Au from 106m in the same hole (16GWRC016). There is the possibility that this zone has been missed up-dip in previous drilling and future drilling will test the potential for this second horizon.
Figure 1: Greenewood Drill Hole Location Plan - Showing Line of Section detailed in Figure 2
Table 1: Significant Intersections > 2.0g/t Au
|
Hole ID
|
Northing
|
Easting
|
DIP
|
AZM
|
EOH
|
Depth From (m)
|
Depth To (m)
|
Intercept Width (m)
|
Au g/t
|
|
GWRC013
|
6721537
|
377325
|
-60
|
128
|
54
|
39
|
44
|
4
|
3.19
|
|
GWRC014
|
6721565
|
377383
|
-60
|
128
|
21
|
23
|
2
|
4.58
|
|
GWRC015
|
6721532
|
377324
|
-60
|
128
|
66
|
36
|
42
|
6
|
2.51
|
|
Including
|
39
|
41
|
2
|
5.22
|
|
GWRC016
|
6721671
|
377464
|
-60
|
128
|
126
|
86
|
90
|
4
|
4.30
|
|
Including
|
87
|
88
|
1
|
10.2
|
|
GWRC016
|
6721671
|
377464
|
-60
|
128
|
126
|
104
|
109
|
5
|
2.22
|
|
Including
|
106
|
107
|
1
|
9.30
|
|
GWRC022
|
6721694
|
377588
|
-60
|
128
|
54
|
25
|
27
|
2
|
2.17
|
|
GWRC026
|
6721683
|
377509
|
-60 128
|
78
|
77
|
78
|
1
|
8.60
|
* Holes GWRC013, 015, 019, 023 failed to reach target depth due to ground conditions.
Figure 2: Cross section A-B as shown in Drillhole Location Plan (refer to Figure 1)
The remaining RC drill samples undertaken at Greenewood (16GWRC030 to 16GWRC041) have been delivered to the laboratory in Adelaide and results are expected towards the end of October 2016.
The second drill rig has completed 18 RC holes for 1200m at Campfire Bore, and these have been delivered to the laboratory in Adelaide. Results are expected towards the end of October or early November 2016.
Drilling activities are now focused on 500m of Diamond drilling at both Greenewood and Campfire Bore. Once this Diamond drilling has finished, the area between the Mainwood and Greenewood prospects will be drilled with the RC rig to test this 700m zone where mineralisation between Mainwood and Greenewood may well connect.
Figure 3: Location map of Jumbuck Gold project
Bruno Seneque, Managing Director P: +61 8 9485 1040
About Tyranna
Tyranna is a gold exploration company focused on the large Jumbuck Project in the Northern Gawler Block of South Australia. An 8,300 metre drilling campaign is currently underway.
Jumbuck is a highly prospective and underexplored area, similar in style to the Albany/Fraser belt adjacent to the Yilgarn Craton in Western Australia which is host to the large Tropicana gold deposit. Tyranna controls over 8,000 km2 of ground in this area, which also hosts the Challenger gold mine (owned by WPG Resources Ltd). Challenger has produced in excess of 1 million ounces of gold to date.
The Jumbuck Project has numerous gold occurrences over large areas with strong potential for significant resources of shallow oxide ore and repeat Challenger style deposits.
Tyranna's strategy is to target those more advanced gold prospects which are situated within 50 km's of the Challenger gold processing operations.
Competent person statement:
The information in this announcement that relates to Exploration Results is based on information compiled by Nicholas Revell, who is a Member of The Australian Institute of GeoScience and who has more than five years' experience in the field of activity being reported on. Mr. Revell is the Technical Director of the Company.
Mr. Revell has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr. Revell consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.