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3D view of IP model with proposed drill holes

Tyranna maps out cobalt/base metal targets in Nevada

Tyranna Resources has identified a number of cobalt and base metal targets at its Goodsprings project near Las Vegas, Nevada, which indicate the potential for a much larger mineralised system around the historic Whale mine.

Results from the 3D induced polarisation survey, which is amongst the first use of modern exploration techniques around the historical workings, identified chargeable zones that could represent mineralised extensions of the mine.

Management said the targets range in depth from 50m to 300m below surface and that some of the chargeable zones have coincident geochemical responses and are hence considered high priority targets.

Tyranna now plans to site the drill locations and plan for a drilling campaign later this year.

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

“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.”

Goodsprings comprises 329 mining claims covering 6,580 acres about 48km southwest of Las Vegas.

It is located in the historic Goodsprings Mining District that contains numerous copper, zinc, lead, gold and cobalt mines.

Cobalt oxide is found in the wall rock of nearly every copper deposit in the district and about 20 tons of cobalt rich ore assaying between 6% and 29% cobalt was shipped from four separate copper mines to processing facilities in the region during the early 1920s.

 

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Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/01/19

1 year TSR5 year TSR
89thRedbank Copper33%32%
384thEncounter Resources-20%-22%
432ndBass Metals-29%35%
628thGolden Rim Resources-52%-33%
742ndTyranna Resources-68%-44%
726 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
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26/04/18
$10k Bought
26/04/18
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26/04/18
$10k Bought
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137th↓Tyranna Resources$674k
142nd↑Redbank Copper$658k
143rd↑Encounter Resources$646k
145th↓Bass Metals$631k
146th↓Golden Rim Resources$629k
509 listed resources companies ranked by revenue.
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