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Tyranna Resources Limited (ASX:TYX)

ALERT: Price-sensitive ASX Announcement for TYX
Current share price for TYX : $0.003 -0.001 (-25%)+
Announcement
Release
14 Jul 2025 8:17AM
Price at Release
$0.004
Full Release
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Summary
Tyranna Resources Limited (TYX) announced its intention to acquire a 70% interest in the Maongo Copper-Gold (Cu-Au) Project located in Angola. The acquisition is structured through an option agreement with private Angolan company Dinuva Investment Limitada and will be executed via Tyranna’s wholly-owned subsidiary, Tyranna Angola Holdings Pty Ltd. The Maongo Project is situated within the Lufico Cu-Au District, which is noted for significant mineralisation and has historical artisanal production. The project area covers approximately 228km² and is considered prospective for both copper and gold, supported by multiple identified mineralised zones and extensive geophysical and geochemical anomalies. Tyranna's acquisition is conditional upon completion of due diligence, regulatory approvals, and other customary conditions. The company’s strategy involves systematic exploration including mapping, soil sampling, geophysics, and drilling, aiming to delineate a JORC-compliant resource. Tyranna emphasizes the project's strategic location, the supportive regulatory environment in Angola, and the potential for further discoveries within the region.
Key Points
  • Tyranna Resources Limited to acquire 70% of the Maongo Cu-Au Project in Angola.
  • Acquisition to be completed via an option agreement with Dinuva Investment Limitada.
  • The Maongo Project is located in the Lufico Cu-Au District and covers 228km².
  • Area is noted for copper and gold mineralisation with historical artisanal mining activity.
  • Several mineralised zones and significant geophysical and geochemical anomalies identified.
  • Acquisition remains subject to due diligence, regulatory, and shareholder approvals.
  • Tyranna plans a systematic exploration program aimed at developing a JORC-compliant resource.
  • Project benefits from supportive Angolan mining regulations and strategic regional location.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.