(MENAFN- ProactiveInvestors)
Thundelarra () has completed follow-up reverse circulation drilling at its Red Bore Copper-Gold Project in Western Australia’s Doolgunna region.
This has provided further geological data consistent with the company’s current model for Red Bore mineralisation. Assay results are pending.
Red Bore is located just 1500 metres from the processing plant at ’ () operating DeGrussa copper-gold mine.
Assay results are also pending for follow-up drilling at the Allamber Project in Pine Creek Northern Territory.
Thundelarra has also carried out an airborne magnetic survey over Curara Well and Red Bore.
Red Bore
The 11 hole program totalling 1424 metres was designed to test inferred vertical extensions of “pipes” identified at Red Bore Gossan as well as test down-dip extensions of the main magnetic anomaly.
It was intended to improve understanding of the copper-gold-silver-magnetite mineralisation identified at Impaler Prospect about 900 metres of west of Red Bore Gossan and explain the magnetite veins with chalcopyrite 300 metres to the east.
Red Bore covers 2 square kilometres and is situated close to Sandfire’s operating DeGrussa copper-gold mine.
Work at Red Bore since April 2014 has clearly demonstrated the project’s potential.
Shallow DSO-grade copper mineralisation has been intersected in two drill holes returning 1 metre at 31.3% copper 2.6 grams per tonne gold and 34.2g/t silver from 36 metres and 1 metre at 30% copper 2.9g/t gold and 32.4g/t gold from 30 metres.
In addition 11 separate intercepts of more than 5% copper were made including:
- 15.6 metres at 15.2% copper 17.7g/t silver from 24 metres (TRBDD09);
- 29 metres at 6% copper 1.1g/t gold 3.3g/t silver from 6 metres (TRBC070);
- 16 metres at 9% copper 2.3g/t gold 10.5g/t silver from 25 metres (TRBC075);
- 15 metres at 5.3% copper 1.4g/t gold 6.2g/t silver from 19 metres (TRBC072); and
- 5 metres at 13.1% copper 1.5g/t gold 18.7g/t silver from 50 metres (TRBC072).
Allamber Project
Allamber is approximately 180 kilometres southeast of Darwin and is part of the Pine Creek Orogen.
The project is very well served by regional infrastructure with sealed road rail and a gas pipeline running within 25 kilometres of the project area.
During the December Quarter 2014 a reverse circulation drilling program of 21 holes totalling 3482 metres was completed.
Seven prospects were tested: Swamp Donkey Hatrick Nipper Ox-Eyed Herring North Brumby (also known as Brumby Gap) Sulphur Hill (just to the east of Brumby Gap) and Cliff South (ESE of Brumby Gap).
Geological logging of the drill chips has not revealed any significant upgrades at zones of known mineralisation but a clearer picture of the next follow-up exploration steps at Allamber will be clearer when full assay data has been received and evaluated.
Other Projects
Thundelarra is review possible methods for generating new data to assist in the effective identification of targets for testing at the Curara Well project in Western Australia.
This process will progress into the first quarter of calendar 2015 and targets identified will then be the subject of relevant Heritage surveys.
At the Sophie Downs project in the East Kimberly region the company will also prepare a work program for the 2015 field season to evaluate possible targets identified from information collected to date.
The principal target continues to be the possibility that the known zinc mineralisation may extend deeper within the Halls Creek Fault Zone as part of a system of replacement skarn-style mineralisation.
Analysis
Thundelarra has news flow ahead with assays pending from drilling at its Red Bore and Allamber projects.
To highlight the prospectivity recent results have included 1 metre at 31.3% copper 2.6 grams per tonne gold and 34.2g/t silver from 36 metres and 1 metre at 30% copper 2.9g/t gold and 32.4g/t gold from 30 metres.
The company is also fully funded for its planned 2015 exploration at Red Bore and Curara Well.
Discussions are continuing on a number of fronts to deliver value for shareholders from a few remaining non-core exploration assets.
This has already reduced annual overheads associated with work expenditure commitments tenement rents and rates.
Thundelarra had $6.45 million in cash as at 31st December 2014.
Proactive Investors Australia is the market leader in producing news articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia UK North America and Hong Kong / China.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.