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Tyranna Uncover New Pegmatite Prospect

29 May 2023 13:32
ASX: TYX
Tyranna Uncover New Pegmatite Prospect

Tyranna Resources show further evidence for widespread lithium mineralisation at its Namibe Project in Angola’s emerging Giraul pegmatite field, with new rock chip samples showing grades up to 4.24% Li2O and the identification of an entirely new prospect.

The news comes just under a week after the explorer fulfilled a key condition to complete the first phase of a $31 million dollar investment by Sinomine Resource Group and Sinomine International Exploration to accelerate the exploration and development of the Angolan project.

Sampling Spodumene

The new assays come from an 18-sample program collected from four lithium discoveries uncovered earlier this month, with one of these targets, Muvero East, now elevated to drill-ready status following the identification of spodumene in its sample and a lithium grade of 4.24% Li2O.

Tyranna’s belief stems from the discovery of spodumene, which suggests that Muvero East could potentially be connected to a significantly larger mineralised system. The pegmatite found at Muvero East closely resembles the one found at Muvero, strongly indicating a relationship between the two. This connection significantly enhances the likelihood of lithium mineralisation extending not only from Muvero to Muvero East but also potentially reaching further southeast.

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Figure 1: Map indicating Muvero and the newly unveiled Muvero East alongside possible areas of lithium mineralisation

A connection between the two prospects could be massive for future development, with Muvero already showing the potential to become a source of high-grade direct shipping ore by producing concentrates at grades 6% Li2O at recovery rates of 80-82 per cent Li2O.

Looking Forward

Tyranna is now planning to follow up on this discovery with an in-depth investigation into potential pegmatite-hosted lithium south-east of Muvero set for later this year, with the Company looking to take steps to prepare Muvero East for drilling.

The Company also intends to complete a helicopter-based recognisance of Namibe’s remote pegmatite to build on the Project’s ever-growing inventory of lithium pegmatites as well as define new targets for drilling.

The Company said that with the new results, the potential to uncover further lithium mineralisation southeast of Muvero is high.

“These assay results demonstrate that lithium mineralisation is widespread within the Namibe Lithium Project, and we are confident of discovering many more lithium pegmatites in the project area,” Technical Director Peter Spitalny said.

“Also, if Muvero East is anything to go by, it seems likely that additional, perhaps partly hidden, mineralisation may be discovered near other known lithium prospects. Identifying spodumene at Muvero East points to it and Muvero being part of a larger mineralised system, implying a substantially larger scale of mineralisation. Drilling will be extended to include the Muvero East Prospect.”

TYX’s Australian Stock Exchange-listed share price has risen 4.17 per cent today, currently selling at 2.5c (12:30 pm UTC+ 8 hours).

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