Tyranna Resources : Campfire Bore Drilling Confirms Supergene Blanket Overlay

11 January 2017 Campfire Bore Phase 2 Drilling Confirms Supergene Gold Blanket Overlay

Highlights

• Primary gold hits increase exploration potential at Campfire Bore

• Delineates consistent high grade supergene gold 'blanket' in structure

• Diamond Hole 16CBDH001 drilled to gather structural information.

• Strike Extension increased to 1.4 km

• Best Intersections include :

  • 16CBDH001: 7m @ 1.90/t gold from 37m

  • 16CBRC054: 4m @ 2.80 g/t gold from 49m Inc: 2m @ 4.74 g/t gold from 50m

  • 16CBRC067: 1m @ 3.51 g/t gold from 35m

• Technical team to plan further program for March commencement

The Directors of Tyranna Resources Limited (ASX: TYX), as manager of the Western Gawler Craton Joint Venture which includes WPG Resources Ltd (ASX: WPG) and Coombedown Resources Pty Ltd are pleased to announce the final batch of assay results from reverse circulation (RC) holes and diamond drilling (DH) drilled at the Campfire Bore Gold Prospect, which is located approximately 42 km from the Challenger Gold Mine and part of the large Jumbuck Gold Project in the Northern Gawler Block of South Australia.

Phase 2 drilling for 2016 at the Campfire Bore prospect has now been completed and all assays have been received. A total of 37 RC holes were drilled for 2,658 metres, and one Diamond Hole completed for 100 metres. The Joint Venture partners are pleased that the drilling to date at Campfire Bore has delineated a consistent supergene gold blanket at the transition zone between the oxidised and fresh rock boundary. This is evident from multiple drill intercepts with grades greater than 30 g/t Au that have been attributed to supergene enrichment (refer figure 1):

• 16CBRC022 1 m @ 37.8 g/t Au from 47m

• 16CBRC015 1 m @ 36.8 g/t Au from 42m

• 16CBRC038 1 m @ 30.8 g/t Au from 56m

• 16CBRC029 1 m @ 30.5 g/t Au from 41m

Most encouragingly, the results of this program of drilling proves the mineralised structure extends below the supergene blanket and into a primary zone. The implication is that deeper drilling is required to extend the gold zone and thus increase resource potential. Refer to Figure 2 which shows diamond drill hole 16CBDH001 and 16CBRC035 which both intersected primary style gold mineralisation.

Diamond hole 16CBDH001intersected 19m @ 1.01 g/t Au from 37m, including 7m @ 1.9 g/t Au from 37m. In the mineralised zone, evident from this diamond hole, sampling was taken at 1 metre intervals however the intervals sampled did not replicate the mineralised structures known as the "blue quartz vein" (refer Figure 3) which ranges from 10cm to 60cm in length. A new sampling programme will be undertaken to sample only the blue quartz veins in the mineralised structures to show a true reflection of the irregular distribution of the nuggety gold which is similar to the gold mineralisation at the Challenger Gold mine - refer WPG Resources Ltd September 2016 Quarterly Activities Report which reported the following significant intercepts from Challenger South South West (CSSW):

 15CUD1616: 0.88m @ 55.35g/t Au from 132.16m

 15CUD1616: 1.03m @ 17.53g/t Au from 275.97m

 15CUD1617: 1.00m @ 12.00g/t Au from 251.00m

 15CUD1725: 0.39m @ 28.49g/t Au from 105.00m

 15CUD1760: 0.30m @ 55.19g/t Au from 194.71m

Tyranna Resources MD Bruno Seneque commented, "The sampling of the DD core at 1m sections, while showing the consistency of the structure, did dilute some of the high grade gold hits that are visible in the core and at Figure 3. Notwithstanding that, the JV is very encouraged that the drill program continues to enhance this gold prospect and we are very keen to extend this discovery in 2017."

Figure 1: Drillhole location Plan at Campfire Bore Figure 2: Cross Section at Campfire Bore Figure 3: Diamond Drill Hole 16CBDH001 showing blue quartz veins indicated by yellow arrows

Table 1: Significant Intersections > 1.0g/t Au

Hole ID	Northing	Easting	DIP	AZM	EOH	Depth From (m)	Depth To (m)	Intercept Width (m)	Au g/t
16CBDH001	6722881	382229	-60	305	99.91	37	56	19	1.01
Including	37	44	7	1.90
16CBRC053	6722858	382004	-60	125	66	47	51	4	1.56
Including	49	50	1	3.57
16CBRC054	6722690	382157	-60	305	84	49	53	4	2.80
Including	50	52	2	4.74
16CBRC063	6723190	382495	-60	305	96	74	76	2	1.19
16CBRC067	6723253	382581	-60	305	72	35	36	1	3.51
16CBRC070	6723299	382701	-60	305	66	39	41	2	1.24

Figure 4: Location map of Jumbuck Gold project Figure 5: Jumbuck Gold Project Tenement Map

Bruno Seneque, Peter Taylor

Managing Director Investor Relations

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