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Tyranna chip into Namibe lithium

22 August 2022 11:29
ASX: TYX

Tyranna Resources have brought in more high grade results from its Angolan Namibe project, confirming the site’s lithium potential with rock chips revealing up to 9.74 per cent lithium oxide at an average of 3.23 per cent with the large majority showing visible mineralisation.

Potential for economic mineralisation was confirmed from numerous samples containing high-grade spodumene at a 7.49 per cent lithium oxide average, lying undegraded with very low levels of contaminants.

Having only acquired Namibe in June, the company said results justified the decision to purchase what is proving to be a valuable project.

“We have defined a larger drill-target area at the site known as 21n, and these results in particular provide further confidence in designing our maiden drilling program,” executive director Paul Williams said.

“We look forward to the next phase of exploration to test these areas in depth.”

Tyranna expect the maiden drilling campaign to boot up as soon as next quarter.

TYX’s Australian Stock Exchange-listed share price is trading at 3.9c (11:08 am UTC+ 8 hours).

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