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Tyranna onto cobalt-copper-zinc in Nevada

ASX listed Tyranna Resources has hit the ground running at its newly acquired Goodsprings cobalt and base metals play in Nevada USA with two encouraging anomalies already identified.

Stream sampling has identified the Whale trend near a previously producing zinc mine and the Anchor Trend, a 2km long copper anomaly extending parallel to the Keystone Fault that will be followed up with a geophysics program later this month.

These areas have also been mapped by consulting structural geologist Dr Richard Russell whilst fellow Australian company, New World Cobalt has recently identified three targets that sit on the Whale trend.

Tyranna’s geophysics program will map chargeability and resistivity across the survey areas to a depth of between 300 and 400 metres and characterise potential targets for cobalt-copper mineralization.

Once this is complete, the company plans to drill up to five holes at the Whale trend to test the geologist’s structural interpretation.

This drill program will look to confirm the Whale oreshoot and surrounding stratigraphy, intersect the potential mineralisation in the old diggings to the north of the historic mine and drill through the hypothesized east-west fault interpreted by the geologist.

In late August, Tyranna executed an agreement to acquire the Goodsprings project, which comprises 329 mining claims covering 6,580 acres about 48km southwest of Las Vegas in southern Nevada.

Rock chip samples collected earlier this year returned a range of polymetallic minerals with grades of up to 1% cobalt, 22.5% copper and 30% zinc, hosted in vein, bedded and replacement deposits throughout the project area.

Notably, a grab sample of dump material from the Whale trend returned an eye watering 7.64% cobalt.

Goodsprings 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 that assayed between 6% and 29% cobalt was shipped from four separate copper mines to processing facilities in the region in the early 1920s.

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Source: Morningstar

Total Shareholder Return as at 31/10/18

1 year TSR5 year TSR
312thGold Road Resources1%54%
435thChalice Gold Mines-14%0%
440thTyranna Resources-15%-43%
568thImpact Minerals-33%-21%
744 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
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Share Transactions

26/04/18
$10k Bought
26/04/18
$10k Bought
26/04/18
$10k Bought
Total value as at the date of the transaction
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Revenue

135th↑Cleveland Mining Company$699k
136th↓Chalice Gold Mines$693k
137th↓Tyranna Resources$674k
138th↓Impact Minerals$670k
139th↑Gold Road Resources$665k
512 listed resources companies ranked by revenue.
Source: Morningstar

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