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 intercepts high grade uranium in Ngalia Basin, growing uranium footprint
Thundelarra Exploration (ASX: THX) has released latest results from drilling of 31 holes in the current program in the Ngalia Basin in the Northern Territory and the results indicate significant scope for further significant uranium discoveries as nearly all holes drilled to date have struck uranium.
Significant uranium mineralisation (greater than 100 ppm eU3O8) has now been identified over a 15 kilometre extent within the one paleovalley tested to date.
The best of the latest intercepts identified more high grade uranium in the Ngalia Basin, including 7.1 metres at 1,408 ppm eU3O8 and 1.6 metres grading 1,174 ppm eU3O8.
Just how significant this greenfields discovery is by Thundelarra, has perhaps has been missed by the market given the contining strong successful results of drilling from Thundelarra. However, this is likely to change as the company tests further ground in Ngalia Basin.
Current drilling is reconnaissance in nature and very widely spaced. Defining higher grade zones within the broader mineralised paleovalleys might take longer although there has been some very solid intersections.
This will likely be achieved with closer spaced drilling further into the program.
The company has completed 31 drill holes, with results to date from drilling correlating well with Electromagnetic Data and the high incidence of significant intercepts indicating that uranium mineralisation within the paleovalley system is extensive.
In early May, Thundelarra intersected high grade uranium early in the 155 hole drill program covering 20,06 metres.
The holes in the drill program have intersected uranium of more substantial widths and grade considered to be indicative of high grade channels.
The current drilling is designed to carry out initial reconnaissance on sections of the paleovalley system and average hole spacing is around 580 metres.
Step – out drilling from the high grade intercepts on a 50 metre to 100 metre spacing will be required to test for continuity and extent of the interpreted high grade channels that will commence later in the season.
Recent drilling has intersected fine to coarse tertiary sands up to 45 metres thick, providing scope to identify paleochannel uranium deposits of substantial scale.
The Tempest electromagnetic data, after interpretation, delineated a paleovalley system of over 400 linear kilometres within the company’s Ngalia Basin tenure.
Equivalent uranium grades are being measured using a Mt Sopris down – hole gamma logger that has been independently calibrated.
Drilling by Thundelarra in the Ngalia Basin is still in very early days. The company has only carried out first pass testing of 15 kilometres of paleovalleys out of more than 400 kilometres that have been defined on the company's tenure, the rest remains completely untested.
