Tyranna Resources (ASX:TYX) is planning to restart drilling activities at its Muvero prospect in Namibia in January 2024.
To date, about 6,000m of drilling remains to be completed at the prospect, along with drilling across other prospects, with 17 drillholes for 2,665m having been completed so far.
Tyranna Resources Technical Director Peter Spitalny says the drilling coverage is expanding in next year’s exploration restart to ensure that the entire Muvero prospect is explored ‘effectively’, and work likely to continue through to April 2024.
“Tyranna believes the drilling to be completed in 2024 at Muvero will discover substantial amounts of spodumene-bearing pegmatite, and drilling of other prospects will yield positive results that further enhance the value of the Namibe Lithium Project.”
The $55.86 million market capitalisation company reports that so far, spodumene has been recognised in 13 drillholes and is likely present in 3 other drillholes based on recognised spodumene in extensions of pegmatite intersected in adjacent drillholes.
Spitalny adds: “The fact that more than 75% of the drillholes have intersected spodumene-bearing pegmatite, but drilling has only occurred in about 15% of the Muvero prospect, is exciting.”
Half of the samples from the current drilling program have been received by ALS Namibia for processing into pupils for export to Australia and subsequent analysis. The remaining samples will be delivered before Christmas.
Tyranna expects to receive assay results from the first batch of samples in January 2024 and, after required validation, will be announced as soon as possible.
Tyranna Resources is an ASX-listed explorer primarily focused on lithium exploration in Angola, Africa.
As of 30 September 2023, the company had $12.319 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Tyranna Resources