Tyranna/Alliance produce maiden gold resource
Tyranna Resources has added more gold to its armoury after partner Alliance Resources posted a maiden high grade resource for the Weednanna Gold Deposit at the Wilcherry JV project in South Australia.
Alliance, who holds 75.01% of the project, said the deposit has a Mineral Resource of 1.1 million tonnes grading 5.1 grams per tonne gold, or 181,000 ounces.
About 45% of this is in the higher confidence “indicated” category.
The resource covers an area of about 1,100m by 500m down to a maximum depth of 200m with about 83% of the resource occurring within 120 metres of surface.
The company says there is still potential to increase the resource too with a further drilling program as all 13 modelled gold shoots remain open in at least one direction.
In addition, there are zones within the top 100m of the resource area that lack drilling and could host new gold shoots based on historical activity.
Alliance plans to carry out extensional drilling to identify additional gold mineralisation, infill the resource and upgrade it from inferred to the indicated.
Weednanna is located 105km west northwest of Whyalla and 40km north northeast of Kimba in the southern part of the Gawler Craton in South Australia.
It will be interesting to see how much bigger Weednanna can get as Alliance/Tyranna continue to turn the drill bit.
Tyranna Resources (TYX)
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