Tyranna Resources Limited has conducted geochemical sampling for potential nickel and copper/cobalt element mineralisation ‘Southern Dyke’ located at the company’s Dragon tenement in Western Australia’s Wheatbelt region.
The news comes amid nickel prices are close to breaking $US20,000 per tonne since climbing more than 70 per cent on the London Metals Exchange from a COVID-driven low of $US11,055 in March last year.
In April, the company collected a total of 495 samples consisting of 33 specimens of rock chip, 433 soil, 26 (trial) biogeochemical, eight mine spoils and two floats collected from the company’s Dragon tenement.
The sampling program tested for nickel, copper, cobalt, chromium and gold in the most accessible Southern Dyke zone revealing 22.02 parts per million of nickel, 53.78 copper, 17.31 cobalt, 167.5 chromium along with three parts per billion of platinum and 18 palladium.
“The company’s exploration strategy is to narrow in on suitable targets at the Dragon project,” director Joe Graziano said.
“The soil sampling program undertaken has assisted in this strategy and the company will now consider the advantages of an MLEM survey to further define the potential drilling targets.”
Next steps for the company will be investigating the potential to use surface moving loop electromagnetic survey to define potential deeper drilling targets, which has been a successful strategy followed by St George Mining Limited.