Tyranna Resources Ltd. has executed an agreement for the 100% acquisition of U.S. Cobalt Pty Ltd., the owner of the Goodsprings cobalt and base metals project, located in Nevada, USA. The acquisition is subject to shareholder approval at a general meeting on September 21.

“Historical mining results suggest that this area holds some of the highest-grade Cobalt mines that can be found in the district,” Tyranna Managing Director Bruno Seneque said. “In the 1920s, the mines in this area produced approximately 20 metric tons (mt) of Cobalt-rich ore from copper mining and historical grades were reported between 6% and 29%.”

Seneque said modern mining techniques haven’t been used at Goodsprings and he is confident “good exploration and mining methods will handsomely reward the company.”

The Goodsprings project comprises 329 mining claims covering 6,580 acres located within the Goodsprings mining district in southern Nevada, 48 kilometers (km) southwest of Las Vegas and approximately 8 km west of the town of Jean.