www.thundelarra.com
Thundelarra Exploration Ltd (ASX: THX) is an established Australian resources company primarily focused on uranium exploration and development in the Northern Territory.
The Company holds dominant tenement positions in the Pine Creek and the Ngalia Basin uranium provinces with a total area in excess of 6,000 sq kms. Thundelarra has achieved significant exploration success on its Northern Territory properties, particularly in the Pine Creek region where several new uranium occurrences have been identified, including the Thunderball prospect where drilling has delivered a number of very high grade uranium intercepts.
Thundelarra Exploration survey results point to extension of Red Bore copper gold mineralisation
Thundelarra Exploration (ASX: THX) is looking to extend sulphide mineralisation at depth beneath previously reported copper/gold drill intercepts at the Red Bore Project after interpreting down‐hole electromagnetic (DHEM) data.
Thundelarra would be encouraged by the survey results and intends to conduct further evaluation.
Drill holes at three prospect areas were surveyed in April at the company's 60%-owned Red Bore project in Western Australia and the data was interpreted by the company’s consultant geophysicist.
Five drill holes along a 150 metre strike extent were surveyed with all returning DHEM anomalies at the Red Bore prospect.
The company said the DHEM anomalies indicate that sulphide mineralisation extends at depth beneath previously reported copper/gold drill intercepts, which included 17 metres at 11.7% copper and 1.73g/t gold in drill hole TRBC005.
The DHEM anomalies in three holes have been interpreted to relate to stringer and vein sulphide mineralisation. The source of anomalism in remains unclear in the other two holes.
The company said the survey results combined with drill results "indicate zones of sulphide mineralisation occur within a broad envelope which extends at depth and may plunge to the west of the Red Bore prospect surface gossan."
Thundelarra is planning to kick off reverse circulation (RC) and diamond drilling to 600 metres depth shortly, to test below the Red Bore prospect area.
A deep hole will also be drilled in the North West Gossan prospect which lies to the south of the Sandfire Resources (ASX: SFR) Conductor 5 deposit and will be the first diamond/deep drilling to take place within the Red Bore mining lease.
The company will also test extensions to the Red bore prospect favourable horizon and magnetic anomalies along strike.
The IP1 and IP2 prospects, where chargeable induced polarisation targets have been identified by the company, did not return any DHEM anomalies and remain unexplained by the current exploration results.
Thundelarra is also conducting exploration in the Ngalia Basin in the Northern Territory and yesterday announced it had intersected the highest grade and broadest width of uranium mineralisation yet.
With a significant drill intercept of 7.08m at 1,405 ppm eU3O8 including 0.85m at 5,179 ppm eU3O8 in the second hole in Ngalia Basin, the current 155 hole drill program holds promise for further high grade intercepts.
