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Tyranna increases gold resources at Jumbuck JV by 100,000 ounces

Tyranna Resources Ltd. on May 30 posted an updated resource estimate for the Jumbuck gold project in South Australia, increasing contained gold by 100,000 ounces.

The project forms part of the Western Gawler Craton joint venture, which is managed by Tyranna and includes WPG Resources Ltd. and Coombedown Resources Pty. Ltd.

Jumbuck now hosts indicated and inferred resources totaling 8.7 million tonnes grading 1.1 g/t of gold for 319,000 ounces.

The estimate uses a cutoff grade of 0.5 g/t of gold and covers the Golf Bore, Campfire Bore, Greenewood, Monsoon, Typhoon and Mainwood deposits.

The previous resource estimate, completed in early 2017, defined inferred resources of 6.9 million tonnes grading 1.0 g/t of gold for 219,000 ounces, using the same 0.5 g/t cutoff.

"We will now start to plan first pass scoping studies to evaluate the potential to advance toward feasibility studies," Tyranna Managing Director Bruno Seneque said.