Tyranna hopes for another Jumbuck in WA gold fields
Link copied to
Tyranna Resources has bought two new gold tenements in Western Australia, in the hope that they’re connected to a major neighbouring deposit.
Tyranna (ASX:TYX) has an option to also buy a third tenement in the same area.
The company says that after a “desktop review” of the Leanora fields, where the two exploration tenements are located, it thinks the area might be connected to the same geological structure that birthed the 2.3 million ounce Thunderbox gold deposit.
Tyranna (ASX:TYX) is resting its case on anomalies in soil samples taken in the 1990s and geological mapping that suggest the fault lines that created the Thunderbox deposit stretch into its newly acquired areas.
The gold explorer’s shares did not immediately respond to the news, remaining flat at 1.5c.
The company made its fortune with the South Australian Jumbuck project in 2015.
Drilling at the area’s most promising site, Typhoon, began in August after an initial program showed high levels of gold at shallow levels.