Tyranna Secures 75% of Chinguar Gold Project, Holds $2.55M Cash
Tyranna Resources has advanced its exploration and acquisition efforts in Angola, securing a major stake in the Chinguar Gold Project and extending its lithium-caesium project tenure, supported by a solid cash position.
- Acquired 75% interest in Chinguar Gold Project
- Progressed 70% acquisition steps for Maongo Copper-Gold Project
- Applied for 12-month extension on Namibe Lithium and Caesium Project
- Maintains strong cash reserves of AUD 2.55 million with no debt
- Ongoing fieldwork and sampling targeting gold and lithium-caesium mineralisation
Strategic Expansion in Angola
Tyranna Resources Limited (ASX, TYX) has reported significant progress in its Angolan exploration portfolio for the quarter ending 30 September 2025. The company has notably secured a 75% shareholding in the Chinguar Gold Project, a large and historically artisanal mining area located northeast of Huambo, Angola’s second-largest city. This acquisition marks a key milestone as Tyranna positions itself amid rising global demand for gold.
In addition to the Chinguar acquisition, Tyranna has advanced initial steps to acquire a 70% interest in the Maongo Copper-Gold Project, further diversifying its base and precious metals exposure in the region. These moves underscore Tyranna’s commitment to expanding its footprint in Angola’s mineral-rich landscape.
Ongoing Exploration and Project Development
The company continues to focus on its Namibe Lithium and Caesium Project, where it has lodged an application for a 12-month extension of tenure to October 2026. Exploration activities at the Muvero Prospect have identified promising deposits of pollucite, a caesium mineral, occurring alongside spodumene, a lithium-bearing mineral. Site visits and drilling campaigns have been conducted, with future work planned to further appraise these mixed mineralisation zones.
Field crews are actively sampling artisanal mining sites (garimpos) within the Chinguar Gold Project area, which range from rudimentary hand-shovel operations to more mechanised excavations. These efforts aim to delineate primary gold sources by analysing sediment and laterite mineralisation, guided by geological mapping that highlights structural targets along major fault zones.
Financial Health and Operational Outlook
Financially, Tyranna maintains a robust position with cash reserves of AUD 2.55 million and no debt, providing a solid foundation for ongoing exploration and project development. The company’s exploration activities at Muvero are funded through an agreement with Sinomine Resources (Hainan) Lithium Co., Ltd, reflecting strategic partnerships that support its growth ambitions.
Operational expenditures for the quarter included AUD 0.509 million on exploration and evaluation, alongside administrative and corporate costs. The company’s Managing Director, David Crook, highlighted the extensive review of over 30 Angolan projects this year and expressed confidence in the company’s ability to generate new targets using geochemical and geophysical techniques.
Looking Ahead
Tyranna plans to initiate regional stream sediment sampling and further assessment of artisanal workings at Chinguar to refine drill targets. At Namibe, exploration will continue to focus on spodumene-pollucite mineralisation, with additional appraisal of the Loop Prospect. These methodical steps aim to convert early-stage discoveries into drill-ready targets, setting the stage for potential resource delineation.
As Tyranna deepens its engagement in Angola’s mineral sector, the company’s strategic acquisitions and exploration programs position it well to capitalize on demand for both precious and battery metals. However, the success of these ventures will depend on forthcoming drilling results and the evolving geopolitical and operational landscape in Angola.
Bottom Line?
Tyranna’s expanding Angolan portfolio and strong cash position set the stage for critical exploration milestones in the coming quarters.
Questions in the middle?
- What initial assay results will emerge from the Chinguar Gold Project sampling and drilling?
- How will Tyranna’s acquisition of Maongo Copper-Gold Project progress and impact its portfolio?
- What are the timelines and expected outcomes for the extended Namibe Lithium and Caesium Project exploration?
