Tyranna Resources Ltd (ASX:TYX) is continuing to receive high-grade gold results from drilling at the Greenwood Gold Prospect, part of the larger Jumbuck Gold Project in South Australia.
Jumbuck is part of the Western Gawler Craton Joint Venture which includes Tyranna (75%) and WPG Resources (ASX:WPG) (25%).
The reverse circulation drill holes were completed at Greenwood, located circa 37 kilometres north of the Challenger Gold Mine, which is owned and operated by WPG.
Tyranna has now completed the drilling at Greenewood which comprised of 39 holes for 2,340 metres.
Of note is the outstanding new result of 10 metres at 5.16 g/t gold from 31 metres in the primary zone.
This hole was drilled to intersect the lithological structure similar to a previous hole which intersected 8 metres at 3.35 g/t gold from 55 metres in the primary zone.
Tyranna is now planning diamond drilling to test the area around the new intersection to confirm the existence of a repeat high grade pipe like structure similar to the previous discovery.
This work will be planned for the first half of 2018 following a diamond drilling program in mid-November 2017.
Meanwhile, Tyranna continues to benefit from investor demand for companies exploring for conglomerate-hosted gold in the Pilbara region of Western Australia.
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The company has exposure to the conglomerate gold rush as it is the largest shareholder in Kairos Minerals (ASX:KAI).
Interestingly, Tyranna is also a major shareholder in Orinoco Gold (ASX:OGX) which recently confirmed significant conglomerate-hosted gold potential over 16 kilometres of strike at its Eliseo Project in Brazil.