Join our daily newsletter At The Bell to receive exclusive market insights
- Tyranna’s initial stream sediment geochemistry program has identified gold anomalies for further appraisal at Chinguar.
- New sampling will test domains upstream from anomalous geochemistry sites.
- Investigating artisanal workings, other geology-based targets.
Tyranna Resources (ASX:TYX) is waiting on improved ground conditions to follow up targets unveiled with the definition of the first round of geochemistry sampling at the 75% owned Chinguar gold project in Angola.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
Initial assessments of geological mapping and airborne geophysical data imagery suggest that artisanal workings at Chinguar often occur near or along major faults in greenstones and granites.
Chinguar consists of a single, very large, granted title with an area of 3,342 sq. km located 50km northeast of Angola’s second largest city, Huambo.
Tyranna’s MD, David Crook, said with summer rains in the Huambo area abating and water levels dropping, the company can return to stream sediment and soil sampling in the domains indicated by shuttle radar topography mission (SRTM) models, upstream of targets generated from last year’s fieldwork.
“Access throughout the Chinguar project is generally good when ground conditions are dry, and Tyranna’s geologists are very excited to be getting onto the ground from next week. We look forward to keeping investors up to date as the field program advances and results are returned from this highly prospective project,” he explained.
The sampling was completed, and various assaying techniques used are an orientation study, which will streamline future geochemical surveys.
The company identified the Chinguar project as having potential for the discovery of a significant gold deposit based on the widespread and numerous occurrences of garimpo (artisanal gold mining) workings apparently targeting gold, the age and nature of potential host rocks and the structural complexity.
That potential is further supported by several gold anomalies generated throughout the Chinguar project by recent stream sediment geochemistry program.
Other than garimpo-scale mining, there is no record of recent exploration activities within the project area, meaning that Tyranna will be the first company to operate with the benefit of modern remote sensing data and available low-level geochemical analysis techniques.
Tyranna is planning to mobilise geologists and field crew to Chinguar next week, with many tracks across the SRTM domains and dry access to be identified before geochemical sampling, including both targeted stream sediment sampling and soil sampling, will resume.
TYX is steady at 0.3¢. Mkt cap $10.09M.
Join the discussion: See what HotCopper users are saying about Tyranna Resources Ltd and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
-1200x645-380x200.jpg)
