Thundelarra Exploration (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 km. 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.
The Company has a number of assets in addition to its Northern Territory interests, including; three highly prospective uranium projects in Western Australia and one in Queensland.
Thundelarra Exploration identifies high priority uranium targets at Hayes Creek Project
Australian resources company Thundelarra Exploration (ASX: THX) has generated fourteen high priority uranium Target Areas from a detailed low level airborne radiometric and magnetic survey completed at the Hayes Creek Project in the Northern Territory.
During the afternoon trade, shares in the company increased 1.5c, or 3.8%, to 41.5c.
Only six of these targets, including the Thunderball prospect, had been previously identified and inspected.
Preliminary reconnaissance carried out in 2009 identified uranium mineralisation at all six areas including uranium rich boulders at the Corkscrew prospect that assayed up to 2.3% U3O8.
To date only Thunderball has been subject to significant drilling, resulting in numerous high grade intercepts with assays of up to 20.3% U3O8.
Field assessment of the first of the new radiometric anomalies, 500 metres north-east of the original Corkscrew discovery, has identified significant uranium mineralisation. Four shallow trenches on a scree covered slope exposed a number of strongly radioactive boulders with abundant visible secondary uranium minerals.
The 5,235 line kilometre airborne survey was conducted by Thompson Aviation using Airtractor 502B fix wing aircraft, with 25 metre spaced flight lines and 20 metre mean terrain clearance.
Managing Director Brett Lambert said the survey was the most detailed radiometric and magnetic survey ever completed in this part of the Pine Creek Orogen.
"It has defined new and significant radiometric anomalies and improved definition of previously identified targets," Mr Lambert said.
Importantly, the magnetic data has defined controlling structures associated with the known uranium occurrences, including Thunderball. A detailed structural mapping and 3D modelling program is currently underway on the project area utilising all available datasets.
Thundelarra is now preparing for a major drilling campaign scheduled to commence on 2 April 2010.
A program of 25,000 metres of reverse circulation and diamond drilling is planned for the Pine Creek area including resource definition and extensional drilling at the exciting Thunderball discovery.
Earlier this month, seven of the eight holes drilled in the latest drill program at the Thunderball uranium prospect in the Northern Territory were reported to have produced uranium grades in excess of 1,000 ppm U3O8.
High grade uranium has now been defined over a strike length exceeding 200 metres and mineralisation remains open to some degree in all directions.
In November, Thundelarra announced its best intercept in this field season, when hole TPDD26 hit 11 metres at 3.4% U308, including 4.6m @ 8% U308.
