Tyranna Resources Ltd (ASX:TYX) is commencing a diamond drilling program 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%).
Circa 1,000 metres of diamond drilling will follow up Tyranna’s grass roots gold discovery at Greenwood, located 37 kilometres north of the Challenger Gold Mine owned and operated by WPG.
Tyranna is targeting high-grade Challenger type structures and shoots at Greenwood.
Recent high grade reverse circulation drilling results from the Greenwood Gold Prospect include:
- 22 metres at 4.03 g/t gold from 50 metres, including 1 metre at 20.4 g/t gold from 51 metres; and
- 10 metres at 5.16 g/t gold from 31 metres, including 1 metre at 29.4 g/t gold from 36 metres.
Tyranna has planned 6 diamond core holes through to March 2018 with a break over the Christmas period.
Meanwhile, the company continues to benefit from investor demand for companies exploring for conglomerate-hosted gold in the Pilbara region of Western Australia.
READ: Tyranna Resources shares surge as conglomerate gold rush continues
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.