Australian mineral exploration company, Tyranna Resources Limited has acquired private company US Cobalt Pty Ltd, who owns the Goodsprings Cobalt and Base Metals Project, in Nevada, USA.
US Cobalt’s Goodsprings Cobalt and Base Metals Project consists of 329 mining claims covering 6,580 acres located within the Goodsprings mining district in southern Nevada. In March this year, Tyranna entered into a binding option agreement to acquire US Cobalt, as part of the company’s diversification strategy to capitalise on the battery minerals revolution.
Tyranna’s Managing Director, Bruno Seneque said the acquisition was an ‘outstanding deal’ for Tyranna and their shareholders.
“Historical mining results suggest that this area holds some of the highest-grade cobalt mines that can be found in the district. In the 1920’s the mines in this area produced approximately 20 tonnes of cobalt-rich ore from copper mining and historical grades were reported between 6 per cent and 29 per cent,” Mr Seneque commented.
“No modern mining techniques have been used here and we are confident that good exploration and mining methods will handsomely reward the company here at Goodsprings,” he added.
Rock chip samples were collected earlier in the year by US Cobalt which exhibits a ‘comprehensive range’ of polymetallic minerals throughout the Goodsprings project area.
Presently, the company has commissioned Dr Richard Russell to complete a photogeological structural interpretation on the Goodsprings district to identify target areas for follow up. Plans also include further stream sediment sampling to test the western portion of the district.
More information on this announcement and more, can be found here.