Tyranna’s Angola Expansion Faces Timing and Exploration Execution Risks

Strategic Acquisition in Angola’s Copper-Gold Belt

Tyranna Resources Limited (ASX – TYX) has taken a significant step in its African expansion strategy by completing the initial acquisition phase of a 70% interest in the Maongo Copper-Gold Project, located just 25 kilometres northeast of the Angolan port city of Namibe. This move marks Tyranna’s first major foothold in copper-gold exploration within Angola, a country with a rich but underexplored mining history.

The Maongo Project area is notable for its extensive historical mining activity, with underground workings and ore processing infrastructure dating back to the early 1900s and last active in the 1960s. The project covers 269 square kilometres of flat, arid terrain with excellent access to infrastructure including sealed highways, rail, electricity, and nearby solar power facilities; factors that could facilitate efficient exploration and future development.

Complementary Lithium-Caesium Exploration at Namibe

Alongside the Maongo acquisition, Tyranna continues to advance its Namibe Lithium-Caesium Project, where a comprehensive geochemical review has refined exploration targets within the Giraul pegmatite field. The company has lodged tenure applications to extend and partially relinquish areas, reflecting a focused approach to prioritising high-potential zones. Previous drilling at the Muvero Prospect has intersected spodumene and pollucite mineralisation, underscoring the project's multi-element potential.

Financial Position and Operational Outlook

At the close of the June quarter, Tyranna reported a healthy cash balance of $3.36 million with no debt, supporting ongoing exploration activities. Operational expenditure for the quarter was $631,000, primarily allocated to exploration and corporate administration. The company’s exploration work at Muvero is partly funded through an agreement with Sinomine Resources (Hainan) Lithium Co., Ltd, providing additional financial flexibility.

Managing Director David Crook emphasised the strategic fit of the Maongo Project within Tyranna’s broader goal of targeting demand-driven metals in Angola. With statutory and corporate documentation nearing completion, the company anticipates commencing fieldwork; the first since the 1960s; potentially unlocking significant value from this historically productive region.

Looking Ahead

Following the acquisition, Tyranna plans to initiate geological mapping, soil geochemistry, and geophysical surveys across the Maongo prospects, including Vimpongos, Maongo, Conango Canpungo, and Cacimba. Drilling programs will be deployed as targets are generated, while exploration at Namibe will continue to focus on expanding known lithium-caesium mineralisation and assessing new prospects such as Loop.