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Tyranna Resources Ltd.
Summary
| Project: | Jumbuck | |
|---|---|---|
| Deposit: | Greenewood | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 11/3/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 3-11-2016: Tyranna Resources Ltd. announces an Exploration/Drilling Update report for its Greenewood deposit at the Jumbuck project. Drilling results incl. 14m @ 5.79g/t Au from 35m. The Directors of Tyranna Resources Limited (ASX: TYX), as manager of the | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Nicholas Revell (Internal) | |
| ABSTRACT: | 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 a further 11 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 16GWRC030 to 16GWRC041 were drilled to test down dip of previously established gold mineralisation as well as a possible southern extension to the prospect. Total reverse circulation metres completed at Greenewood tally up to 4,078 m and a further 1,000 m will be completed in the Phase 2 drilling in November 2016. Hole 16GWRC038 was drilled beneath 16GWRC012 (which intercepted [email protected]/t Au from Phase 1 drilling) and proved the down dip continuity with an intercept of [email protected]/t Au from 35m, including [email protected]/t Au (see Figure 2). Mineralisation has now been established along a continuous structure 50m down dip and remains open. Furthermore, a lower zone of mineralisation was also intersected with a grade of [email protected]/t Au from 64m in the same hole (16GWRC038). This low grade corridor has matched up with the low grade corridor on section A-B and has been interpreted as a “potential” second horizon at Greenewood (see Figure 1). The total strike length of the Greenewood prospect has now been extended to 340 metres as a result of hole 16GWRC040 which intersected [email protected]/t Au from 20m, including [email protected]/t Au (see Figure 2). It is worth reiterating that the Greenewood prospect is highly significant in that it is the first discovery in 18 years in the area and the first discovery to occur beneath a surface where no calcrete has been developed and, therefore, no geochemical signature exists as a guide to drilling. This is opening up a new prospect generation model which Tyranna is pioneering in the region. Encouragingly, this latest intercept (hole 038) is of the same level of grade and thickness as the discovery intercepts that came from the Challenger discovery resulting in the Challenger Gold mine (owned by WPG Resources Ltd). | |
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