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Tyranna Resources Ltd

Tyranna Resources results suggest larger cobalt base metals system in Nevada

IP targets have been generated in same stratigraphic position as the historical Whale Mine.

nevada highway sign
The next stage involves planning for a drill program

Tyranna Resources Ltd (ASX:TYX) has received results from its latest induced polarisation (IP) survey completed at its Goodsprings Project in Nevada, US.

The decision to advance exploration coincides with New World Cobalt Ltd’s (ASX:NWC) recent exploration activity, and the lack of any modern exploration around the historical underground workings near the Whale Mine.

READ: Tyranna Resources turns its focus to its gold projects

Tyranna Resources’ managing director Bruno Seneque said: “Given the nature of historical cobalt mining at Whale, we are highly encouraged by the results from this survey which indicates a much larger system than the old miners tapped.

“They pulled out very high grade cobalt from near surface, visible rock.

“We have modern techniques to look deeper and broader to find the bulk system origin of their successful mining.

Potential for larger cobalt and base metals system

“These results indicate the potential for a much larger cobalt and base metals mineralised system across the immediate ground around the Whale Mine.

“We will now use the IP results to target drill sites to test the extent of the mineralisation for its grade and scale as we advance our schedule for the Goodsprings Project which we believe has significant upside for Tyranna.”

Planning for 2019 drill program

The Goodsprings Project is now considered to have good potential for the discovery of new mineralisation in the district.

The next stage of the exploration program is to site the drill locations and plan for a drill program in 2019.

Quick facts: Tyranna Resources Ltd

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Market: ASX
Market Cap: $4.71 m
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