logo-loader

Thundelarra Ltd has drilling underway for large deep system at Red Bore

Published: 04:00 18 Jul 2016 BST

au_thundelarra_drilling_at_tepes_target_red_bore_358

Thundelarra Ltd (ASX:THX) has commenced reverse circulation drilling targeting a large deep volcanogenic massive sulphide (VMS) system at the 90% owned Red Bore project in Western Australia.

Red Bore is located less than 1 kilometre from Sandfire Resources Ltd's (ASX:SFR) operating DeGrussa copper-gold mine.

It is also proximate to and showing similarities to the recent Monty massive sulphide joint discovery by Talisman Mining Ltd (ASX:TLM) and Sandfire.

The drilling program will test up to 9 targets at Red Bore.

The first hole underway is targeting an untested shallow gravity anomaly named Tepes - potentially a VMS occurrence. 


Drill targets

A brief summary of the 9 targets is as follows:
 
-Target 1 (Tepes): An untested shallow gravity target identified in 1H16. Potentially a VMS occurrence.

-Targets 2, 3 and 4: These holes will help identify the most effective location for follow-up diamond holes to test a deeper gravity anomaly. Target 3 will also provide information on IP anomaly.

-Target 5 (Spike): A magnetic anomaly that has not been previously tested.

-Target 6 (Jaspilite): Previous drill testing of this magnetic anomaly has not provided a comprehensive explanation of the anomaly.  This will be revisited.

-Target 7 (Scythe): Previous drill testing of this target had revealed a conductor that warranted further follow-up testing when a suitable rig became available.

- Targets 8 and 9 (Impaler). Previous drill testing of the Impaler prospect had encountered difficult ground conditions. Interpretation of the deep diamond hole completed in early 2016 identified the theoretical potential for down-dip and easterly extensions of the geological setting that may be prospective for VHMS occurrences.

The project geologist may amend the programme as warranted, based on the geological data obtained hole by hole.


Targets 2, 3 and 4

This 2,400 metre reverse circulation drill program is the first stage of testing a deep gravity anomaly.

Deep diamond drill-testing will follow as soon as practicable after this program drills targets 2, 3 and 4 and data has been evaluated.

These holes will help identify the most effective collar location for the first follow-up diamond hole to test the gravity anomaly identified in 1H 2016 at 600 metres depth.

Target 3 will also provide further information on a previously identified anomaly in that location that has not been completely explained.

Drilling the RC and follow-up diamond holes will continue through July and August, possibly extending into September, depending on findings.


Red Bore copper gold project


The Red Bore project is 90%-owned by Thundelarra and is a two square kilometre granted mining licence located in Western Australia’s Doolgunna region.

Primary copper sulphide has been drilled at Red Bore including 7.05 metres at 28.4% copper, 1.3 g/t gold, 32.2 g/t silver, which has been followed up by intercepts including 15.6 metres at 15.2% copper and 16 metres at 9.0% copper.

Red Bore's key prospects are Impaler, Gossan and Jaspilite and the project is the company's prime exploration project.


Gold assays pending from Garden Gully

Adding extra exploration news flow interest, Thundelarra has drilling assays pending from the Garden Gully gold project, expected in around one week.

It is a proven gold bearing area with historic production of 21,000 ounces at 21g/t gold.

There is also active exploration in the area from Doray Minerals Ltd (ASX:DRM) and Metals X Ltd (ASX:MLX).

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

FTSE rises ahead of Easter weekend, JD Sport gains on upbeat outlook -...

The FTSE 100 gained on the final morning of this shortened Easter trading week. Festive cheer was limited though, as Thames Water confirmed shareholders would not provide it with a £500 million rescue package, prompting speculation over the London supplier’s future. On a more positive...

1 hour, 41 minutes ago