Perth-based Tyranna Resources has received three competing proposals to buy its Jumbuck gold project in South Australia, with the bidders offering cash payments of $2 million or more.
Tyranna Resources' partner Alliance Resources has identified a new gold target within the Wilcherry JV project in South Australia after re-assaying historic iron ore drill samples. Better results from the re-analysis of drilling carried out by Ironclad Mining between 2008 and 2012 at the Weednanna North prospect included 8m @ 1.06g/t gold from 58m down-hole and 22m @ 0.34g/t gold from 42m.
Tyranna Resources' partner Alliance Resources has returned some impressive high-grade intersections including a long 20m intersection going 12.44g/t gold from the Weednanna gold prospect within the Wilcherry JV project in South Australia. More RC drilling will take place in December to upgrade resources in the eastern optimised pit area from the inferred to indicated confidence level.
Tyranna Resources' partner Alliance Resources has recorded a maiden high grade mineral resource of 1.1 million tonnes grading a very respectable 5.1 grams per tonne gold at the Weednanna gold deposit within the Wilcherry JV project in South Australia. Alliance will carry out extensional drilling to identify additional gold mineralisation and it will infill drill in order to upgrade more of the inferred resource to indicated.
