Tyranna Resources Ltd (ASX:TYX) (FRA:IRN) non-executive director Joseph S Pinto has demonstrated his confidence in the company through an on-market purchase of shares valued at more than $27,000.
On March 19, Pinto acquired more than 3.866 million shares in an indirect interest.
This increased his holding in this interest to 78 million ordinary shares.
In January this year, Pinto also made two on-market purchases with a combined value of $28,935.
On January 7 and 11, he acquired 605,444 shares and 3.528 million shares respectively.
Field trip
Last month the company completed an 11-day field trip to the Knight & Dragon Projects in WA’s nickel belt during which the geology team refined a core target for inaugural drilling at Lightning Gossan prospect.
There was demonstrable gold-nickel-copper-cobalt mineralisation at surface and the team identified several data points from Lightning Gossan that highlight the need for further exploration:
Soil assays from 160 samples returned up to 308 parts per million (ppm) nickel, 84 ppm copper and encouragingly 0.54 ppm gold;
Rock chip assays from 35 samples exceeded expectations with results up to 980 ppm nickel, 234 ppm copper and 70 ppm cobalt; and
Anomalous nickel mineralisation appears to be associated with a magnetic high structure that is 1.6 kilometres long x 0.8 kilometres wide.
Priority target
At the time non-executive director Joe Graziano said: “The board is delighted with these findings as we now have a priority target to potentially test-drill for nickel sulphide mineralisation.
“Our geology team is now working through the various steps necessary to formulate a drilling campaign and secure a drilling contractor.
“Overall, it is pleasing to report that we are on track with our previously stated goal to accelerate developing the Knight & Dragon Projects.”