TYX discovers 10 additional lithium targets - drill program star
Our 2022 Catalyst Hunter Pick Of The Year Tyranna Resources (ASX: TYX) is currently on the ground at its lithium project in Angola.
The key takeaways from the fieldwork so far:
- TYX found ~10 more pegmatite systems with proven lithium content that can be drilled in future drill programs.
- Lithium bearing pegmatite structure found to the east of TYX’s Muvero discovery, structures also found ~5km to the east and ~5km to the south.
After this round of fieldwork TYX has only investigated ~20% of the total number pegmatites at its project, the remaining ~80% will be the focus of future fieldwork programs.
Interestingly, TYX also had its newly announced $8BN project partner Sinomine on site with it while the fieldwork was happening.
Sinomine just committed to up to $31M in funding toward TYX - we covered that news in our TYX note from last week.
Ultimately the purpose for the fieldwork is to identify potential drill targets and to establish a site camp/upgrade access to the project in the lead up to the company’s next round of drilling.
TYX expects to be drilling in August.
What’s next for TYX?
🔄 Rock chip sampling and field work
TYX plans to be back on site running another round of field work in the lead up to drilling.
In the meantime we can expect to see some of the assays come through from the samples taken when the company was last on site - the assays are expected in June.
We covered the planned field work in a previous QuickTake which you can see here: Helicopter secured to test high priority lithium targets
🔄 2nd drill program
TYX expects this program to start ~August.
