How Tyranna Resources Plans to Unlock Angola’s Hidden Gold Potential

• 75% interest acquired in 3,342 km² Chinguar Gold Project
• Project hosts multiple artisanal gold mining sites (garimpos)
• Recent government geological data aids targeted exploration
• Initial work includes regional sampling and progressive drilling
• Acquisition involves modest upfront payments and potential share issuance

A Strategic Entry into Angola's Gold Belt

Tyranna Resources Limited (ASX – TYX) has taken a significant step in its African exploration strategy by securing a 75% stake in the Chinguar Gold Project, a sprawling 3,342 square kilometre landholding in central Angola. Located just 50 kilometres northeast of Huambo, the country's second largest city, this acquisition places Tyranna at the forefront of gold exploration in a region historically dominated by artisanal miners.

The Chinguar Project area is notable for its extensive artisanal gold workings, known locally as garimpos, which have been active since Angola's independence in the 1960s. Tyranna's geologists have identified eight key garimpo sites within the project boundaries, many stretching over 1.5 kilometres, providing valuable initial targets for systematic exploration using modern techniques.

Leveraging New Geological Insights

Recent geological mapping conducted by Angolan government agencies MIREMPET and IGEO has been instrumental in guiding Tyranna’s approach. These datasets reveal that artisanal workings cluster along major faults within Neoarchean and Paleoproterozoic greenstone belts and granitic terrains, classic hosts for gold mineralisation. The presence of gold in both sedimentary and lateritic deposits suggests multiple vectors for discovering deeper, primary gold sources.

Access to the project is facilitated by the Lobito Corridor, a major infrastructure initiative supported by European and American partners, ensuring reliable logistics through sealed roads and agricultural tracks. This infrastructure advantage could prove pivotal in advancing exploration and, eventually, development.

Exploration Plans and Acquisition Terms

Tyranna plans to commence regional stream sediment sampling alongside detailed assessments of garimpo workings to pinpoint gold anomalies. This iterative process will be supported by geochemical and geophysical studies, culminating in targeted drilling campaigns. The company’s Mauritian subsidiary, Luvulu, has acquired the majority stake from local shareholders for a relatively modest upfront payment covering surface taxes and prior costs, with a potential milestone share issuance capped at 27.5 million shares contingent on exploration success.

Managing Director David Crook emphasised the strategic importance of the acquisition, highlighting the global demand for gold and the untapped potential of Angola’s emerging mining sector. Tyranna’s approach combines respect for artisanal mining heritage with modern exploration rigor, aiming to unlock significant value for shareholders and local communities alike.

Looking Ahead

While the Chinguar Gold Project remains at an early stage, the combination of a large land position, artisanal gold evidence, and supportive government data sets a promising foundation. Tyranna’s next steps will be closely watched by investors eager for assay results and further clarity on resource potential. This move also underscores the growing interest in Angola as a frontier for mineral exploration, buoyed by improving infrastructure and political support.

Bottom Line?

Tyranna’s bold entry into Angola’s gold sector could redefine its growth trajectory, but early exploration results will be critical to validate this promising opportunity.

Questions in the middle?

• What initial assay results will confirm the presence of economically viable gold deposits?
• How will Tyranna manage operational risks in an emerging jurisdiction like Angola?
• What timeline and capital requirements will be needed to advance from exploration to resource definition?