Tyranna’s Angola Lithium Ambitions Hinge on Pending Assay Results

Drilling Milestone at Namibe Lithium Project

Tyranna Resources Limited (ASX: TYX) has reported significant progress in its December 2024 quarter activities at the Namibe Lithium Project in Angola. The company completed 11 diamond core drill holes totaling 817 meters across the Muvero, Calicatas, and Loop Prospects. Notably, visible spodumene, a key lithium-bearing mineral, was intersected in holes at both Muvero and Loop, marking an important step in confirming the project's lithium potential.

These drill holes were designed not only to sample mineralisation but also to provide structural and metallurgical data critical for advancing the project. Samples have been sent to Perth for assay, with results expected in February 2025, which will provide quantitative confirmation of lithium grades and help guide future drilling plans.

Expanding Exploration and Strategic Licensing

Beyond drilling, Tyranna has intensified its exploration efforts with ongoing geochemical sampling and mapping away from the initial Muvero Prospect. This work has already identified lithium mineralisation at seven additional locations, broadening the potential resource base. The company’s strategy is clearly focused on building a pipeline of demand-driven metals projects in Angola, a jurisdiction gaining attention for its underexplored mineral potential.

In line with this strategy, Tyranna lodged its first license application during the quarter, signaling intent to expand its footprint and capitalize on Angola’s emerging mining sector. The company is leveraging government and commercial datasets to target acquisitions that complement its existing lithium focus, including other critical metals.

Financial Position and Funding

Financially, Tyranna remains well-positioned with cash reserves of $4.735 million and no debt at quarter-end. Exploration activities at Muvero are funded through an agreement with Sinomine Resources (Hainan) Lithium Co., Ltd., providing a solid financial foundation for ongoing work. Operational cash outflows totaled $1.36 million for the quarter, primarily driven by exploration and corporate costs.

Management’s prudent cash management and strategic partnerships underpin the company’s ability to sustain its exploration momentum while preparing for the next phase of project development.

Outlook and Market Context

Tyranna’s progress comes amid a global push for lithium and other critical minerals essential to clean energy technologies. The visible spodumene intersections and expanding lithium targets at Namibe position the company as an early mover in Angola’s nascent lithium sector. However, the pending assay results will be pivotal in validating the economic potential of these discoveries.

Looking ahead, Tyranna plans to continue drilling new targets identified through its mapping and sampling programs, while advancing its project acquisition strategy. The company’s ability to secure additional licenses and define high-grade mineralisation will be key to attracting further investment and unlocking shareholder value.