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Tyranna to sell controlling stake in Jumbuck gold project for A$950,000

Tyranna Resources Ltd. granted an option to sell its controlling joint venture interest in the Jumbuck gold project in South Australia to Syngas Ltd. for A$950,000 cash.

The company entered into a term sheet to sell its 100% stake in Half Moon Pty. Ltd., which owns a majority interest in the Western Gawler Craton joint venture and all adjacent tenements held by Trafford Resources Pty. Ltd.

Bruno Seneque will join Syngas' board on completion of the deal, according to an Oct. 17 statement.

Tyranna holds a 71% interest in the tenements held under the joint venture with WPG Resources Ltd., according to the company's website.