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Tyranna Resources Gears Up for Muvero Expansion

15 August 2023 13:22
ASX: TYX
Screenshot 2023 08 15 At 1.11.52 Pm

Tyranna Resources Ltd (ASX: TYX) is set to embark on an extensive 30-hole RC drilling campaign to expand its Muvero Prospect, facilitated by a substantial A$14.5 million investment from Sinomine Resource Group Ltd.

A Leap Towards Mineral Resource Estimation

Under the expert guidance of Tyranna’s Technical Director, Peter Spitalny, the upcoming campaign takes a significant step beyond the preliminary efforts. Recognising the presence of high-grade lithium mineralisation and “tantalising pollucite” at the Muvero Prospect, the 30-hole Reverse Circulation (RC) drilling program aims to provide in-depth coverage both laterally and at depth.

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Figure 1: Planned drill-holes at Muvero and Muvero East.

The significance of this approach lies not only in expanding the geographical scope of exploration but also in the accelerated pace of drilling offered by the RC method. As a result, a down-hole depth of 200 metres across 30 drill-holes totalling 6,000 metres is set to significantly surpass the coverage achieved by the previous Maiden drilling campaign, with this broader reach expected to pave the way for a more accurate Mineral Resource Estimate for the Muvero Prospect by early 2024.

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Figure 2: Schematic 3-D view of planned drilling. This view is from the southwest looking towards the northeast.

Exploration Insights

While finalising investment and offtake agreements with Sinomine, Tyranna has been actively engaged in exploration work, particularly mapping the Muvero East Prospect and the “link zone.”

The discovery of pegmatites in this zone supports the theory that there may be lithium mineralisation stretching from Muvero’s northwest to Muvero East’s southeast, a distance spanning 700 metres.

Additionally, the orientation of the Muvero East pegmatite has been carefully studied. The observation that its orientation varies similarly to the Muvero pegmatite highlights the potential for intersecting these formations through strategic drilling positions.

Looking Forward

As Tyranna advances preparations for the Q4 2023 drilling campaign, its focus extends to conducting helicopter-assisted reconnaissance of remote pegmatite areas within the Project, aiming to build-upon the growing inventory of lithium pegmatites and to define additional drill-targets.

Tyranna Technical Director, Peter Spitalny, commented, “The Muvero Prospect contains proven high-grade, high quality lithium mineralisation and the tantalising presence of pollucite, and we are looking forward to probing its depths with this 30-hole program. The drilling will provide good coverage laterally and at depth and is intended to support a Mineral Resource Estimate in 2024.”

“Drilling coverage extends eastwards to include the “link zone” to Muvero East. Recent mapping has revealed this “link zone” is very prospective and additional mineralisation may be discovered, adding to Muvero. We will use an RC drill-rig for the upcoming campaign as this drilling method will enable more drilling to be completed in a shorter timeframe than diamond drilling.”

TYX’s Australian Stock Exchange-listed share price has risen 5% today and is currently trading at 2.1 cents (1:10pm UTC+ 8 hours).

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