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 in highly anticipated drilling next to Sandfire Resources copper discovery
Well-funded Thundelarra Exploration (ASX: THX) is to step up exploration at the Red Bore prospect, which is in close proximity to Sandfire Resources' (ASX: SFR) discoveries in the Doolgunna region of Western Australia.
The drill program will test target horizons beneath the Red Bore gossan where last year Thundelarra intersected high grade copper-gold mineralisation of; 17 metres at 11.7% copper and 1.73g/t gold.
The holes at Red Bore will go to more than twice the depth of any previous drilling at that project.
Four 250 metre pre-collars having been completed and diamond drilling has now started to extend each hole to around 600 metres, with three of these holes targeting depth extensions to the high grade copper hit.
The initial program of four deep holes is anticipated to take six weeks to complete, however the results will be used to aid design of additional holes to be carried out as appropriate.
Highlighting the potential of Red Bore, Sandfire has another three high grade deposits within two kilometres.
These deposits include the:
- 6.1Mt at 4.8% copper and 1.7g/t gold SFR Conductor 1;
- 1.8Mt at 4.1% copper and 1.7g/t gold SFR Conductor 4; and
- 1.7Mt at 9.68% copper and 2.4g/t gold DeGrussa.
The Red Bore Project is situated on granted Mining Lease M52/597, in which Thundelarra is earning a 60% interest.
At the Curara Well, which is wholly owned by Thundelarra, the project is situated on granted exploration license E52/2402, where a heritage survey has been undertaken by members of the Traditional Owners of the area, clearing the way for drilling to commence.
Curara Well is along strike from DeGrussa and hosts 10 kilometres of the prospective sequence, with the imminent drilling at at the project to be the first drilling to test for DeGrussa style mineralisation.
Reverse circulation drilling is anticipated to begin by early July, pending the grant of final statutory approvals.
The Yerrida project consists of four granted exploration licenses, E51/1357, E51/1358, E51/1359, E51/1418 in which Thundelarra is earning an 80% interest and exploration license application E51/1437 in which Thundelarra has an 80% interest.
At Yerrida a 3,000 station gravity survey has just been completed which forms part of a program to identify targets on the company’s earlier stage regional projects for subsequent drill testing, with results anticipated by mid-July.
Thundelarra remains well funded and had A$14.9 million in cash at the end of the March 2011 quarter.
