Join our daily newsletter At The Bell to receive exclusive market insights
- Tyranna Resources (TYX) has labelled the Lightning Gossan prospect as a key target for an upcoming drilling program
- The company’s geologists have completed an 11-day field trip to the Knight and Dragon Projects in Western Australia
- Lightning Gossan stood out due to the gold, nickel, copper and cobalt mineralisation found at the surface
- Tyranna has now informed the geology team to work on necessary logistics, approvals and secure a drilling contractor
- Despite this positive news, Tyranna is down 33.3 per cent on market close and is trading for 0.7 cents
Tyranna Resources (TYX) has labelled the Lightning Gossan prospect as a key target for drilling.
Following an 11-day field trip to the Knight and Dragon Projects in Western Australia, the company’s geology team identified Lightning as the core target due to the gold, nickel, copper and cobalt mineralisation found at the surface.
There were several significant data points from the prospect that showed the need for further exploration work.
Geologists took 160 samples and found up to 330 parts per million (ppm) of nickel, which is anomalous, 84 ppm of copper and 28 ppm of cobalt. Additionally, the soil samples also returned a result of 0.535ppm of gold.
“The board is delighted with these findings as we now have a priority target to potentially test-drill for nickel sulphide mineralisation,” Director Joe Graziano said.
Tyranna has now informed the geology team to work on necessary logistics, approvals and secure a drilling contractor.
“Our geology team are now working through the various steps necessary to formulate a drilling campaign and secure a drilling contractor. Overall, it is pleasing to report that we are on track with our previously stated goal to accelerate developing the Knight and Dragon Projects,” Hoe added.
Despite this positive news, Tyranna is down 33.3 per cent on market close and is trading for 0.7 cents.
