Tyranna Resources has secured a 75% stake in the Chinguar Gold Project in Angola and is progressing geological appraisals and sampling, while awaiting tenure extension approval for its Namibe Lithium and Caesium Project.
- Acquisition of 75% interest in Chinguar Gold Project
- Geological appraisal and sampling underway targeting alluvial gold sources
- Pending tenure extension for Namibe Lithium and Caesium Project
- Cash reserves of $1.73 million with no debt
- Withdrawal from Maongo Copper-Gold Project negotiations
Strategic Acquisition Bolsters Gold Exposure
Tyranna Resources Limited (ASX – TYX) has made a significant move in Angola’s mineral sector by acquiring a 75% interest in the Chinguar Gold Project, located in Huambo Province. This acquisition comes at a time when global demand for gold remains robust, positioning Tyranna to capitalise on artisanal mining activity already underway in the region.
The Chinguar Project covers a vast 3,342 square kilometre area northeast of Huambo city, featuring terrain conducive to exploration. Tyranna’s initial fieldwork has focused on geological appraisal of garimpo sites, where artisanal miners recover alluvial gold and gold-in-laterite deposits. The company has dispatched 40 pairs of samples to Perth for detailed geochemical analysis, aiming to pinpoint the primary source of the alluvial gold.
Progress on Lithium and Caesium Front
Meanwhile, Tyranna’s Namibe Lithium and Caesium Project, targeting the Giraul pegmatite field, awaits approval for a statutory extension of tenure. This extension could allow for up to three additional years of exploration and potential conversion to an Exploitation Licence. Site visits have confirmed promising mixed spodumene-pollucite mineralisation at the Muvero Prospect and indications at the nearby Loop Prospect.
Exploration activities at Muvero are funded through an agreement with Sinomine Resources (Hainan) Lithium Co., Ltd, underscoring the collaborative approach Tyranna is taking to advance its lithium-caesium assets.
Financial Position and Operational Update
At the close of the December quarter, Tyranna reported cash reserves of $1.73 million and no debt, reflecting a solid financial footing to support ongoing exploration. Operational expenditure for the quarter was $0.779 million, primarily directed towards exploration and corporate costs. Payments to related parties totalled approximately $165,000, covering executive and non-executive director remuneration and consultancy services.
Notably, Tyranna has withdrawn from negotiations to acquire an interest in the Maongo Copper-Gold Project near Namibe, indicating a strategic focus on its core gold and lithium projects.
Looking Ahead
Results from the initial stream sediment sampling at Chinguar are expected in the March 2026 quarter, which will guide further targeted sampling and drilling programs. Similarly, the Namibe project’s tenure extension approval will be pivotal in determining the timeline for resuming fieldwork and advancing lithium-caesium exploration.
With these developments, Tyranna is positioning itself as a notable player in Angola’s emerging mineral exploration landscape, balancing gold and critical battery metals prospects.
Bottom Line?
Tyranna’s next quarter will be critical as assay results and tenure approvals will shape the pace and scale of its Angolan exploration ambitions.
Questions in the middle?
- What will the initial assay results from Chinguar reveal about the primary gold sources?
- When will the tenure extension for the Namibe Lithium and Caesium Project be approved, and how will it impact exploration timelines?
- What were the strategic reasons behind withdrawing from the Maongo Copper-Gold Project acquisition?