Maongo Acquisition Poses Regulatory and Exploration Challenges for Tyranna

• Acquisition of 70% interest in Maongo Copper-Gold Project near Namibe, Angola
• Prospecting concession of 269 km² expected to be granted in September 2025 quarter
• Project features historical underground mines and ore treatment sites
• Good infrastructure access including highway, railway, and solar power adjacency
• Exploration plans include geological mapping, geochemistry, geophysics, and drilling

Strategic Entry into Angola’s Copper-Gold Sector

Tyranna Resources Limited (ASX – TYX) has taken a significant step in its African expansion strategy by securing a 70% stake in the Maongo Copper-Gold Project, located just 25 kilometres northeast of the Angolan port city of Namibe. This acquisition aligns with Tyranna’s focus on demand-driven metals, particularly copper and gold, which are critical to the global clean energy transition.

The Maongo Project covers a substantial 269 square kilometre prospecting concession, anticipated to be formally granted in the September 2025 quarter. The area is notable for its historical mining activity dating back to the early 20th century, with remnants of underground mines and ore treatment infrastructure still evident. These legacy workings provide a tangible foundation for modern exploration efforts.

Favourable Location and Infrastructure

One of the project’s key advantages is its excellent accessibility. The flat, arid terrain is traversed by a sealed highway connecting Namibe to Lubango, alongside a railway and electricity transmission lines. Additionally, the project lies adjacent to the Caraculo solar power station, offering potential for sustainable energy integration. This infrastructure corridor facilitates year-round access and supports efficient logistics for exploration and eventual development.

During due diligence, Tyranna’s field teams confirmed the presence of mining relics and treatment sites, underscoring the area’s mineral potential. The project’s three main underground mine groups, Vimpongos, Maongo, and Cacimba, show evidence of past production, although historical records remain incomplete and sometimes contradictory, highlighting the need for thorough modern exploration.

Next Steps and Exploration Outlook

Following the finalisation of the mining investment contract with Angola’s Agência Nacional dos Recursos Minerais (ANRM), Tyranna plans to initiate a comprehensive exploration program. This will include geological mapping, soil geochemistry, and geophysical surveys aimed at expanding known targets across the project’s key prospects. Drilling campaigns will be deployed as new targets are identified, with the goal of delineating economically viable mineralisation.

The acquisition terms include staged payments to the vendor OCJAF - Exploração Mineira and the issuance of Tyranna shares contingent on positive exploration results, reflecting a performance-linked approach to the deal. The project will be held through an Angolan subsidiary, Maongo LDA, with Tyranna holding 70% and OCJAF 30%.

Positioning for Growth in Emerging Jurisdiction

Tyranna’s Managing Director David Crook emphasised the project’s fit within the company’s broader strategy to secure metals essential for clean energy technologies. As an early mover in Angola, Tyranna is positioning itself to capitalise on the country’s mineral potential and improving operating environment. The Maongo Project complements Tyranna’s existing Namibe Lithium Project, reinforcing its diversified portfolio in a resource-rich but underexplored region.

While the concession grant and exploration results remain pending, the acquisition marks a pivotal moment for Tyranna’s growth trajectory. Investors will be watching closely as the company advances its exploration programs and navigates regulatory milestones in Angola.

Bottom Line?

Tyranna’s Maongo acquisition sets the stage for a potentially transformative copper-gold play in Angola’s emerging mining landscape.

Questions in the middle?

• When exactly will the Maongo prospecting concession be officially granted by ANRM?
• What initial assay results will Tyranna’s upcoming drilling campaigns yield?
• How will Tyranna manage operational risks in Angola’s evolving regulatory environment?