Tyranite extends over 1km along a northerly trending shear and consists of 3 lenses down to a depth of 350 metres. Tyranite is a past producing mine and the property includes a head frame and shaft down to 343 metres, as well as 1,370 metres (4,500 ft) of drifts developed between 1939-1942. During this time, ~232,000 ounces of gold was mined at an average grade of 0.147 ounces/t (5 g/t Au). Significant infrastructure exist on site—recent developments include a field office, sleeping accommodations, core cutting and logging facilities. The project hosts a historical resource of 472,000 tons grading 6.9 g/t Au. Refer to the note on historical resources on this page.
Historical exploration on Tyranite shows that grades are high enough to be economic. The key to the project is to delineate sufficient economic grade mineralization within the mine infrastructure to justify rehabilitation of the shaft and renewed underground exploration.
The proposed work program will validate previous drilling and seek to expand the mineralization to the south at depth, beneath the shaft, and to establish resources within the mine infrastructure. The program will also drill newly acquired Burda Claims (Tyranite Extension), which are untested and appear to be an extension of the Tyranite mineralization. These claims were not owned by the operator when Tyranite was in production, and Orefinders has now consolidated them with the Tyranite property. Between 1987-1991, 9 holes were drilled down to a depth of 100m, and the property remains open below this depth. Orefinders’ drill program will lead to a maiden resource estimate and to a possible PEA.
3D Interpretation of Tyranite Orebody – Looking West