Proactiveinvestors Australia Ora Gold Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Ora Gold Ltd RSS feed en Wed, 24 Jul 2019 08:17:25 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Ora Gold shares surge on sampling high-grade copper and silver at Government Well ]]> https://www.proactiveinvestors.com.au/companies/news/222896/ora-gold-shares-surge-on-sampling-high-grade-copper-and-silver-at-government-well-222896.html Ora Gold Ltd (ASX:OAU) has confirmed high-grade assay results from a new copper-silver-gold prospect five kilometres north of the Abbotts gold deposit in Western Australia.

The company’s initial rock sampling program over the Government Well area has returned high-grade copper and silver assays along with moderate gold results.

Location plan of the Government Well copper-silver-gold prospect

Notably, copper assays of up to 19.5% were associated with silver assays up to 275.5 g/t and over 1 g/t gold.

The rock sampling was over a number of small pits which have oxidised base metal material that has been identified as milled breccia. Results include:
• 14.0% copper, 52.1g/t silver and 1.1g/t gold;
• 14.0% copper, 62.5g/t silver and 1.2g/t gold; and
• 19.5% copper, 275.5g/t silver and 1.2g/t gold.

The 1.5-2 kilogram rock samples were picked up from the spoil heaps of the old pits

An additional tenement has been applied for north of the Government Well prospect and further work is planned including a local ground electromagnetic survey and follow up drilling.

Government Well Prospect

The prospect is located at the northern extremity of the Abbotts greenstone belt on the wholly-owned E51/1609 tenement.

Local geology includes typical greenstone belt lithology with black shale horizons and felsic and mafic/ultramafic rocks.

A late-stage Archaean porphyry has intruded the package about 800 metres from the prospect.

READ: Ora Gold confident of extending gold mineralisation at Abbotts project ]]>
Thu, 27 Jun 2019 13:05:00 +1000 https://www.proactiveinvestors.com.au/companies/news/222896/ora-gold-shares-surge-on-sampling-high-grade-copper-and-silver-at-government-well-222896.html
<![CDATA[News - Ora Gold enters into agreement for $1-million debt facility with private company Ioma ]]> https://www.proactiveinvestors.com.au/companies/news/220471/ora-gold-enters-into-agreement-for-1-million-debt-facility-with-private-company-ioma-220471.html Ora Gold Limited (ASX:OAU) has agreed to the terms of an unsecured loan facility from Ioma Pty Ltd, an entity associated with Ora Gold director Ian Philip Crabb.

The loan facility will assist Ora Gold with its working capital requirements.

 

 

Ioma will provide the company with funding of up to $1 million, which is repayable on the later of:

The date that is two years from the date of the first drawdown; or

The date that is two years from the date of the loan facility agreement (May 17, 2020) if not paid before.

The amount drawn will accrue interest at 7% per annum calculated on the daily balance of the amount drawn.

READ: Ora Gold confident of extending gold mineralisation at Abbotts project

The accrued interest is payable on the earlier of: the date on which any outstanding financial accommodation provided under the facility is repaid in full; and the maturity date.

The company has arranged this loan facility as a measure to provide working capital while implementing the board’s decision to change the near-term focus of Ora Gold’s growth strategy.

The company is working towards a growth strategy of a low-cost development and cash flow from its recently expanded tenements on the Garden Gully and Abbotts greenstone belt.

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Fri, 17 May 2019 13:47:00 +1000 https://www.proactiveinvestors.com.au/companies/news/220471/ora-gold-enters-into-agreement-for-1-million-debt-facility-with-private-company-ioma-220471.html
<![CDATA[News - Ora Gold confident of extending gold mineralisation at Abbotts project ]]> https://www.proactiveinvestors.com.au/companies/news/220269/ora-gold-confident-of-extending-gold-mineralisation-at-abbotts-project-220269.html Ora Gold Ltd (ASX:OAU) expects that the first round of reverse circulation (RC) drilling completed at Abbotts Gold Project in WA will extend mineralisation and guide a new  round of RC and diamond drilling.

The drilling program of 27 RC holes totalling 1,500 metres at New Murchison King area was also aimed at validating the mineralisation model in the upper part of the mineralised system.

There were 1,388 composite samples delivered to the laboratory for fire assay gold analyses with results expected in the coming weeks.

Additional drilling and other pre-development activities will begin soon in preparation for potential open pit mining along the 1.7-kilometre strike length of gold mineralised lineament at the project.

All drilling to date has been shallow with the deposit untested below the base of weathering.

The company's second phase of drilling will test the down-dip extensions of the gold mineralisation and the structural setting of the mineralised system.

Historical and recent drill holes and potential pit outlines

Following the next drilling program, Cube Consulting will update the mineralisation model and the initial pit design and the potential pits may change in shape and dimension.

Garden Gully and Abbotts area projects and prospects.

READ: Ora Gold obtains significant historical drilling data for Abbotts ground

Since beginning exploration at Garden Gully and Abbotts in mid-2016 the company has drilled 176 RC holes for 31,031 metres, 16 diamond holes for 3,675.6 metres and 254 aircore holes for 14,025 metres.

The company’s Garden Gully and Abbotts tenements cover the majority of the Abbotts Greenstone Belt and comprise two granted mining leases, 21 granted prospecting licences and seven granted exploration licences.

These tenements cover about 393 square kilometres in WA’s Murchison region, about 20 kilometres northwest of Meekatharra.

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Wed, 15 May 2019 13:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/220269/ora-gold-confident-of-extending-gold-mineralisation-at-abbotts-project-220269.html
<![CDATA[Media files - Thundelarra changes name to Ora Gold to reflect new focus ]]> https://www.proactiveinvestors.com.au/companies/stocktube/12691/thundelarra-changes-name-to-ora-gold-to-reflect-new-focus-12691.html Thu, 21 Mar 2019 20:54:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/12691/thundelarra-changes-name-to-ora-gold-to-reflect-new-focus-12691.html <![CDATA[News - Ora Gold obtains significant historical drilling data for Abbotts ground ]]> https://www.proactiveinvestors.com.au/companies/news/216246/ora-gold-obtains-significant-historical-drilling-data-for-abbotts-ground-216246.html Ora Gold Ltd (ASX:OAU) completed the acquisition of the Abbotts ground on December 21 2018, significantly expanding the size and prospectivity of its Garden Gully gold project in Western Australia.

As part of the purchase, Ora Gold obtained all the previous owner’s exploration data.

A detailed desktop review of these data, together with all the information available in the public domain in the form of reports lodged by previous explorers, shows a number of locations where historical drilling returned significant gold intersections.

Garden Gully Project: areas of potential interest

Further exploration in and around the areas that returned these high-grade results will form part of the next stages of exploration at Garden Gully as Ora seeks to identify and define mineralisation suitable for small scale mining and treatment, in accordance with the company’s change in development strategy.

READ: Thundelarra likes Ora of gold as it takes developer path with ex-Doray Minerals project

Significant gold intersections from historical drilling include:

Mount Vranizan / New Murchison King area
• 4 metres at 48.9 g/t gold from 123 metres; and
• 7 metres at 11.5 g/t gold from 66 metres.

Kingswood area
• 8 metres at 13.5 g/t gold from 16 metres; and
• 8 metres at 15.5 g/t gold from 52 metres.

Abernethy South
• 10 metres at 41.8 g/t gold from 30 metres; and
• 6 metres at 13.6 g/t gold from 46 metres.

READ: Thundelarra changes name to Ora Gold Limited today

Ora recently changed its name from Thundelarra and shifted its attention from gold and copper exploration to development of a project housing a former Doray Minerals Ltd (ASX:DRM) asset.

The key asset is the Garden Gully Gold Project on the Garden Gully and Abbotts greenstone belt near Meekatharra.

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Tue, 12 Mar 2019 16:48:00 +1100 https://www.proactiveinvestors.com.au/companies/news/216246/ora-gold-obtains-significant-historical-drilling-data-for-abbotts-ground-216246.html
<![CDATA[News - Thundelarra changes name to Ora Gold Limited today ]]> https://www.proactiveinvestors.com.au/companies/news/215949/thundelarra-changes-name-to-ora-gold-limited-today-215949.html Thundelarra Ltd (ASX:THX) has received shareholder approval to changes its name and stock ticker to Ora Gold Ltd (ASX:OAU).

The name change follows the commencement of recently appointed non-executive director Philip Bruce on 1 March 2019.

READ: Thundelarra likes Ora of gold as it takes developer path with ex-Doray Minerals project

Ora Gold recently acquired the Abbotts Project which abuts its Garden Gully Gold Project in the Murchison region of Western Australia.

The acquisition increases the landholding of the project area from 78 square kilometres to 530 square kilometres.

The expanded project area captures about 80% of the Abbotts greenstone belt, the only belt of this style in the region yet to deliver a significant deposit of gold mineralisation.

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Thu, 07 Mar 2019 08:41:00 +1100 https://www.proactiveinvestors.com.au/companies/news/215949/thundelarra-changes-name-to-ora-gold-limited-today-215949.html
<![CDATA[News - Thundelarra likes Ora of gold as it takes developer path with ex-Doray Minerals project ]]> https://www.proactiveinvestors.com.au/companies/news/215166/thundelarra-likes-ora-of-gold-as-it-takes-developer-path-with-ex-doray-minerals-project-215166.html Thundelarra Ltd (ASX:THX) (FRA:TJ3) has shifted its attention from gold and copper exploration to development of a project housing a former Doray Minerals Limited (ASX:DRM) (FRA:DO3) asset.

The company is undergoing a period of change and is run by outgoing chief executive officer of seven years, geologist Tony Lofthouse.

Non-executive chairman Phil Crabb will depart this Thursday after the company’s AGM with shareholder and independent non-executive director Rick Crabb to step up to the chairman role while Lofthouse will say goodbye on April 30.

Consultant Philip Bruce, whose achievements at Plutonic Resources Limited dramatically increased its value before takeover, will become a director on March 1.

The company is progressing a growth strategy and will consider appointing a new CEO down the track as it hopes to change its name to Ora Gold Limited with a shareholder vote later this week.

What does Thundelarra own?

The key asset is the Garden Gully Gold Project on the Garden Gully and Abbotts greenstone belt near Meekatharra in WA.

Eighty-five per cent, or 450 square kilometres, of Garden Gully project is drawn from the Abbotts Gold Project the company acquired from Doray Minerals Limited (ASX:DRM) (FRA:DO3).

Doray took 11 million ordinary shares in Thundelarra priced at 1.6 cents a share, in a $176,000 all-scrip transaction last December.

Thundelarra investor and chairman Phil Crabb called the ground acquisition significant, noting the junior company believed it had acquired the “last large piece of remnant greenstone belt in the Yilgarn craton”.

The Abbotts project buy firmed up acreage at Garden Gully project to near-on 530 square kilometres.

Two operational gold plants came with the deal, only 30 kilometres trucking distance from the tenement package.

Thundelarra plans to use the latest geophysical and exploration techniques to look beneath the surface cover and test for potential repetitions of its Crown Prince deposit.

Garden Gully was a historic mine, with the majority of the 21,000 or so ounces of gold mined between 1909 and 1915 coming from Crown Prince.

Grades were about 21 g/t while the maximum reported depth was 120 metres.

The project is in a gold region that has already delivered more than seven million ounces.

Significant intersections from mid-2018 drilling at Crown Prince deposits’ Northern Lode featured 3.25 metres grading 18.5 g/t from 107 metres and 11 metres grading 4.9 g/t from 42 metres.

Thundelarra is combining drill data to prepare for a drilling program this year.

It expects to spend $150,000 on exploration and evaluation this quarter.

In late January the company embarked upon a strategy change, shifting focus from a gold and copper exploration company looking for a big asset to a developer set on cash flow and low-cost development from its tenements on Garden Gully greenstone belt.

Who is on the Thundelarra team?

Thundelarra is undergoing a number of people changes, including the agreed departure of its exploration-era CEO Lofthouse.

Lofthouse had led the company as it rationalised a portfolio of 40 exploration prospects and had orchestrated the acquisition of its 90%-owned former flagship project, the Red Bore copper-gold joint venture project.

Red Bore is in the Doolgunna region of the Murchison mineral field, about 900 kilometres north-northeast of Perth.

Neighbour Sandfire Resources NL’s (ASX:SFR) (FRA:S2Z) (OTCMKTS:SFRRF) DeGrussa copper-gold mine is less than 1 kilometre from the Red Bore licence.

Mining engineer Philip Bruce has been recruited as a non-executive to join the company board from March 1 to bring extensive experience in the growth of small and large resource companies.

Bruce has been an up to three days a week consultant at Thundelarra for the past few months.

The incoming director is guiding a technical team that is identifying Garden Gully belt resources to JORC 2012 standard and assessing the feasibility of low-cost mining efforts.

Bruce helped Plutonic Resources transition from a company worth $30 million to one with a market capitalisation of more than $1 billion when it was bought by Homestake Mining Company in April 1998.

Homestake was, in turn, swallowed up by Barrick Gold Corp (NYSE:GOLD) in late 2001, with Plutonic gold mine being on-sold to Northern Star Resources Ltd (ASX:NST) in December 2013.

Company secretary and chief financial officer Frank DeMarte will continue on Thundelarra’s board as an executive director while non-executive independent director Malcolm Randall remains at the table, taking a reduced fee.

Non-executive chairman Phil Crabb will step back from the boardroom table this Thursday after the company’s AGM while shareholder and independent non-executive director Rick Crabb will take on the chairman role.

Inflection points

Upcoming AGM voting, including for a name change and rebrand to Ora Gold

People changes, including chairman-level change and changes to executive and non-executive director roles

Upcoming departure of CEO and leadership transitions

Cashflow requirements during period of transition

Good outcomes from resource definition work at Garden Gully Gold Project

Ongoing exploration success at the project

Cash injections from any project, deposit or prospect divestments

Chairman Phil Crabb pleased with potential of Doray ground

“The acquisition of this ground … means that the company now controls what we believe to be the last large piece of remnant greenstone belt in the Yilgarn Craton,” Thundelarra chairman Phil Crabb said.

“History shows that these geological settings have the potential to deliver spectacular results.

“Systematic exploration, using the latest geophysical and exploration techniques to explore beneath the surface cover and test for possible repetitions of Crown Prince, means that there are exciting times ahead for our shareholders.”

Thundelarra’s Thursday AGM will be held at the Celtic Club on Ord Street in West Perth at 10.30am West Australian time (1.30pm EST).

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Sun, 24 Feb 2019 20:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/215166/thundelarra-likes-ora-of-gold-as-it-takes-developer-path-with-ex-doray-minerals-project-215166.html
<![CDATA[News - Thundelarra director Rick Crabb buys 1 million shares on-market ]]> https://www.proactiveinvestors.com.au/companies/news/214137/thundelarra-director-rick-crabb-buys-1-million-shares-on-market-214137.html Thundelarra Ltd (ASX:THX) director Rick Crabb has indirectly purchased 1 million ordinary shares through on-market trades for a total consideration of $13,143.

READ: Thundelarra changes focus from exploration to development; outlines management changes

Following the acquisition of the Abbotts Gold project and the completion of an independent review of its assets, Thundelarra has decided to change the near-term focus of its growth strategy from exploration for a large resource to one of low-cost development and cash flow from its recently expanded tenements on the Garden Gully and Abbotts greenstone belt.

New chairman

Philip G Crabb will step down as chairman of Thundelarra at the close of its upcoming annual general meeting to be held on February 28, 2019 but will remain as a non-executive director.

Rick Crabb will be appointed as the new chairman of the company.

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Thu, 07 Feb 2019 14:45:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214137/thundelarra-director-rick-crabb-buys-1-million-shares-on-market-214137.html
<![CDATA[News - Thundelarra changes focus from exploration to development; outlines management changes ]]> https://www.proactiveinvestors.com.au/companies/news/213466/thundelarra-changes-focus-from-exploration-to-development-outlines-management-changes-213466.html Thundelarra Ltd (ASX:THX) has revealed its new growth strategy and changes to the company’s board and management.

Following the acquisition of the Abbotts Gold project and the completion of an independent review of its assets, Thundelarra has decided to change the near-term focus of its growth strategy from exploration for a large resource to one of low-cost development and cash flow from its recently expanded tenements on the Garden Gully and Abbotts greenstone belt.

READ: Thundelarra completes Abbotts acquisition, more than quadruples gold-prospective strike

The board has further unanimously agreed that the implementation of this strategy will be best achieved under new leadership with the appropriate mine development skill sets.

Accordingly, Thundelarra has agreed with its chief executive officer, Tony Lofthouse that his executive services agreement with the company will come to an end on April 30, 2019.

This period prior to his departure will enable orderly transition as the work on focusing on the new strategy progresses.

Thundelarra in its statement said that it would like to take this opportunity to thank Lofthouse for not only for his dedicated service over the past almost 7 years which have seen very challenging times for the junior exploration sector but also for his support and co-operation during this period of refocus by the company.

Lofthouse coordinated the acquisition of 90% of Red Bore, the company’s flagship project for several years and recently the acquisition of the Abbotts Project, which constitutes 85% of Thundelarra’s current flagship Garden Gully Gold Project.

Changes to the board

Philip Bruce has been appointed as an additional non-executive director with effect from March 1, 2019.

Bruce has a successful track record in the global minerals industry in exploration, evaluation, development, acquisitions, operations and senior corporate management.

He is a mining engineer with extensive experience in Australia and overseas and has been instrumental in the growth of small and large resource companies including Plutonic Resources Limited in its growth from $30 million to over $1 billion market capitalisation.

New chairman

Philip G Crabb will step down as chairman of the company at the close of Thundelarra’s upcoming annual general meeting but will remain as a non-executive director.

Existing non-executive independent director Rick Crabb will be appointed as chairman of the company.

Phil Crabb, as chairman, was instrumental in Thundelarra’s acquisition of the Garden Gully Gold Project, which will be central to the company’s strategy to identify low-cost mining opportunities.

He remains as the largest shareholder and will continue to apply his experience to assist in the new strategy.

Thundelarra will consider the appointment of a new chief executive officer at the appropriate time whilst progressing its growth strategy as outlined above.

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Tue, 29 Jan 2019 14:49:00 +1100 https://www.proactiveinvestors.com.au/companies/news/213466/thundelarra-changes-focus-from-exploration-to-development-outlines-management-changes-213466.html
<![CDATA[News - Thundelarra completes Abbotts acquisition, more than quadruples gold-prospective strike ]]> https://www.proactiveinvestors.com.au/companies/news/211636/thundelarra-completes-abbotts-acquisition-more-than-quadruples-gold-prospective-strike-211636.html Thundelarra Ltd (ASX:THX) has completed its acquisition of the 450-square-kilometre Abbotts Gold Project from Doray Minerals Ltd (ASX:DRM).

The acquisition materially expands Thundelarra’s Garden Gully Project acreage in WA to about 530 square kilometres, more than quadrupling the aggregate strike extent of the target.

It also represents the first recorded time the majority of this remnant Abbotts greenstone belt has been held by a single company, enabling the use of modern exploration techniques across the entire geological setting.

READ: Thundelarra consolidates Murchison gold assets with aim to drill

The transaction includes all exploration data Doray has obtained from the project, which will be collated with Thundelarra’s information and interpretations to better understand the mineralised system and its controlling structures.

Thundelarra believes the collated data enhances the potential for discovery at Garden Gully, the only substantial portion of greenstone belt in the immediate Meekatharra region that does not already host a substantially-sized gold mine.

The results of both Thundelarra and Doray drilling indicate the presence of a gold-bearing system, with Thundelarra having identified several targets for immediate follow-up.

Review of Doray’s data will add further targets that will form part of exploration drilling planned for early 2019.

Abbotts surrounds and abuts Thundelarra's Garden Gully Project

  READ: Thundelarra to acquire gold project from Doray adjacent to Garden Gully project

While multiple prospects have revealed gold mineralisation at Garden Gully, the company’s focus is on the Crown Prince and Lydia prospects.

A recent 17-hole drilling program comprising 11 reverse circulation (RC) holes and six RC pre-collars with diamond tails at Crown Prince indicated high-grade mineralisation.

The program tested the area north of the main pit where the project’s main lode crops out and gold mineralisation was intersected in 13 of 17 holes drilled.

Results included: 3.25 metres at 18.5 g/t gold from 107 metres; 6 metres at 4 g/t from 37 metres; 11 metres at 4.9 g/t from 42 metres; and 5 metres at 3.6 g/t from 24 metres.

Crown Prince had previously delivered intersections as high as 4 metres at 16.5 g/t from 166 metres and 8 metres at 22.3 g/t from 259.2 metres.

Garden Gully has nearby infrastructure including two operational gold plants: Westgold Resources Ltd’s (ASX:WGX) 3.1-million-tonne per annum Bluebird plant and the 300,000-tonne per annum Andy Well plant, previously owned by Doray but on care and maintenance since November last year.

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Fri, 21 Dec 2018 02:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211636/thundelarra-completes-abbotts-acquisition-more-than-quadruples-gold-prospective-strike-211636.html
<![CDATA[News - Thundelarra chairman Phil Crabb acquires more shares on-market ]]> https://www.proactiveinvestors.com.au/companies/news/208191/thundelarra-chairman-phil-crabb-acquires-more-shares-on-market-208191.html Thundelarra Ltd (ASX:THX) director and non-executive chairman Philip G Crabb continues to demonstrate his confidence in the company’s Murchison gold assets through on-market trades.

Crabb has acquired a further 1,169,421 shares at about 1.61 cents each for $18,876. This takes his total shareholding in Thundelarra to about 78 million shares (both direct and indirect interest).

READ: Thundelarra consolidates Murchison gold assets with aim to drill

The company has shored up its Garden Gully Project this quarter and will now focus its exploration efforts exclusively on the prospective gold project.

The junior explorer acquired the 450-square-kilometre Abbotts gold exploration project from Doray Minerals Ltd (ASX:DRM) earlier this month, which surrounds and abuts Garden Gully.

READ: Thundelarra to acquire gold project from Doray adjacent to Garden Gully Project

The acquisition grew Thundelarra’s project area at Garden Gully to about 530 square kilometres, more than quadrupling the aggregate strike extent of the target.

Thundelarra aims to drill test Garden Gully’s prospective targets using its own information as well as Doray exploration data collected with the Abbotts acquisition, with $150,000 earmarked for exploration and evaluation next quarter.

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Wed, 31 Oct 2018 17:22:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208191/thundelarra-chairman-phil-crabb-acquires-more-shares-on-market-208191.html
<![CDATA[News - Thundelarra consolidates Murchison gold assets with aim to drill ]]> https://www.proactiveinvestors.com.au/companies/news/207994/thundelarra-consolidates-murchison-gold-assets-with-aim-to-drill-207994.html Thundelarra Ltd (ASX:THX) has shored up its Garden Gully Project this quarter and will now focus its exploration efforts exclusively on the prospective gold project.

The junior explorer acquired the 450-square-kilometre Abbotts gold exploration project from Doray Minerals Ltd (ASX:DRM) earlier this month, which surrounds and abuts Garden Gully.

The acquisition grew Thundelarra’s project area at Garden Gully to about 530 square kilometres, more than quadrupling the aggregate strike extent of the target.

Thundelarra aims to drill test Garden Gully’s prospective targets using its own information as well as Doray exploration data collected with the Abbotts acquisition, with $150,000 earmarked for exploration and evaluation next quarter.

READ: Thundelarra focused on recommencing high-grade gold mining at Garden Gully

While multiple prospects have revealed gold mineralisation at Garden Gully, the company’s focus is on the Crown Prince and Lydia prospects.

A recent 17-hole drilling program comprising 11 reverse circulation (RC) holes and six RC pre-collars with diamond tails at Crown Prince indicated high-grade mineralisation.
The program tested the area north of the main pit where the project’s main lode crops out and gold mineralisation was intersected in 13 of 17 holes drilled.

Results included: 3.25 metres at 18.5 g/t gold from 107 metres; 6 metres at 4 g/t from 37 metres; 11 metres at 4.9 g/t from 42 metres; and 5 metres at 3.6 g/t from 24 metres.

Crown Prince had previously delivered intersections as high as 4 metres at 16.5 g/t from 166 metres and 8 metres at 22.3 g/t from 259.2 metres.

Garden Gully has nearby infrastructure including two operational gold plants: Westgold Resources Ltd’s (ASX:WGX) 3.1-million-tonne per annum Bluebird plant and the 300,000-tonne per annum Andy Well plant, previously owned by Doray but on care and maintenance since November last year.

Garden Gully's prospects

  READ: Thundelarra to acquire gold project from Doray adjacent to Garden Gully Project

The company is continuing exploration at its 90%-owned Doolgunna Projects near Sandfire in northern Western Australia, with joint venture partner W Richmond conducting various geophysical and geotechnical exploration activities through the quarter.

Doolgunna consists of the Red Bore and Curara Well prospects and is less than 600 metres from Sandfire Resources NL’s (ASX:SFR) operating DeGrussa copper-gold processing plant.

Thundelarra anticipates work carried out to date, together with follow-up RC and diamond drilling, will satisfy Richmond’s sole-fund exploration commitments and reveal a possible source for the identified Gossian mineralisation.

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Mon, 29 Oct 2018 03:24:00 +1100 https://www.proactiveinvestors.com.au/companies/news/207994/thundelarra-consolidates-murchison-gold-assets-with-aim-to-drill-207994.html
<![CDATA[News - Thundelarra to acquire gold project from Doray adjacent to Garden Gully Project ]]> https://www.proactiveinvestors.com.au/companies/news/207247/thundelarra-to-acquire-gold-project-from-doray-adjacent-to-garden-gully-project-207247.html Thundelarra Ltd (ASX:THX) has signed a binding sale agreement to acquire the Abbotts gold exploration project from Doray Minerals Ltd (ASX:DRM) for 11 million Thundelarra shares.

Abbotts comprises 13 granted tenements that cover about 450 square kilometres, surrounding and abutting Thundelarra's Garden Gully Project.

READ: Thundelarra focused on recommencing high-grade gold mining at Garden Gully

Thundelarra chairman Phil Crabb said the acquisition of the exploration ground was extremely significant for the junior.

"It means that the company now controls what we believe to be the last large piece of remnant greenstone belt in the Yilgarn craton.

"History shows that these geological settings have the potential to deliver spectacular results.

"Systematic exploration - using the latest geophysical and exploration techniques to explore beneath the surface cover and test for possible repetitions of Crown Prince - means that there are exciting times ahead for our shareholders."

  READ: Thundelarra serves up high-grade gold tasters at Garden Gully Project in Western Australia

The acquisition will put Thundelarra's combined project area at about 530 square kilometres, more than quadrupling the aggregate strike extent of the prospective target settings.

Abbotts and Gardeny Gully are about 20 kilometres northwest of Meekatharra in Western Australia's Murchison region and within 30 kilometres' trucking distance of two operational gold pants.

Thundellara will undertake a detailed review of all the Doray exploration data and incorporate the information into the current geological model that is has developed around the Crown Prince and other Garden Gully prospects.

READ: Thundelarra aircore results reveal visible supergene gold

Results from July 2018 at Garden Gully's Crown Prince prospect revealed 3.25 metres at 18.5 g/t gold from 107 metres and 11 metres at 4.9 g/t gold from 42 metres.

Crown Prince has a proven production history with 20,718 ounces grading 21.7 g/t gold mined historically.

Drilling at Crown Prince intersected grades of up to 66.5 g/t gold across multiple holes and showed that gold mineralisation went down to at least 245 vertical metres.

Notably, Thundelarra’s first drill program extended the Main Lode to at least 130 metres below the base of the old workings, with the high grades continuing at depth.

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Wed, 17 Oct 2018 01:19:00 +1100 https://www.proactiveinvestors.com.au/companies/news/207247/thundelarra-to-acquire-gold-project-from-doray-adjacent-to-garden-gully-project-207247.html
<![CDATA[News - Thundelarra serves up high-grade gold tasters at Garden Gully project in Western Australia ]]> https://www.proactiveinvestors.com.au/companies/news/201388/thundelarra-serves-up-high-grade-gold-tasters-at-garden-gully-project-in-western-australia-201388.html Thundelarra Ltd (ASX:THX) (FRA:TJ3) has received results from drilling at the Crown Prince Prospect that forms part of its Garden Gully Gold Project in Western Australia, finding up to 18.5 g/t gold.

The company reported a number of significant intersections from the prospect in the Murchison Gold Province, including the 3.25 metres at 18.5 g/t standout that was returned from 107 metres.

READ: Thundelarra aircore results reveal visible supergene gold

Other highlights from the campaign included: 5 metres at 3.6 g/t from 24 metres, 6 metres at 4.0 g/t from 37 metres; and 11 metres at 4.9 g/t from 42 metres.

Thundelarra has previously announced a number of other intersections and these include a highlight 2.4 metres at 66.5 g/t from 263.4 metres.

READ: Thundelarra chairman buys one million shares on-market

Western Australia-based Thundelarra drilled 3,713 metres over 17 holes in its latest Crown Prince campaign to produce the best gradings it has seen at the WA project.

Thundelarra said gold mineralisation was encountered in 13 of the holes.

Six holes or 1,153 metres were diamond drill tails while 11 were reverse circulation (RC) holes, with an extra six RC collars, for another 2,560 metres.

READ: Thundelarra’s geophysical survey methods detect gold prospects at Garden Gully

Results augur well for future exploration at the prospect.

The company said: “This program at Crown Prince continued to deliver outstanding results, further confirming the presence of high-grade mineralisation in the known lodes.

“It has also established the new geological theory that the mineralisation extends into the oxide zone to the northeast of the Crown Prince in areas never previously tested.”

Thundelarra's Garden Gully Gold Project's prospects

Thundelarra will focus its next exploration efforts on the northeast structural corridor that has not been drilled previously.

It stated: “Multiple high-grade zones appear to be present within the weathering profile in this confined structural corridor.

“This area offers significant potential for previously undiscovered near-surface high-grade oxide gold mineralisation.”

READ: Thundelarra focused on recommencing high-grade gold mining at Garden Gully

Crown Prince is found at of one of 15 prospecting licences that comprise the wholly-owned 78 square metre Garden Gully project, about 20 kilometres northwest of the town of Meekatharra.

Garden Gully is a former mine where about 21,000 ounces grading about 21 g/t was produced historically over the five years to 1915, primarily from Crown Prince, to maximum depths of 120 metres.

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Mon, 23 Jul 2018 22:14:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201388/thundelarra-serves-up-high-grade-gold-tasters-at-garden-gully-project-in-western-australia-201388.html
<![CDATA[News - Thundelarra aircore results reveal visible supergene gold ]]> https://www.proactiveinvestors.com.au/companies/news/199731/thundelarra-aircore-results-reveal-visible-supergene-gold-199731.html Thundelarra Ltd (ASX:THX) has received the results from its 274-hole, 14,025-metre aircore drilling program at the Garden Gully gold project in Western Australia.

Drilling was testing the potential for new zones of mineralisation at the Young, Lydia, Leanne, Ardeal and Transylvania prospects.

Highlights from the program include 5 metres at 6.9 g/t gold, 5 metres at 7.1 g/t gold and 5 metres at 4.0 g/t gold.

The drilling program was successful, identifying multiple follow-up gold targets associated with complex structural controls, as at Crown Prince.

Geophysical surveys support potential to grow gold resources

Four sub audio magnetic (SAM) geophysical surveys were recently carried out over the drilled target areas.

These new targets are interpreted to represent potential repetitions of the mineralised shoots identified to date at the Garden Gully Project.

Significant intersections from the aircore program

A hole drilled at Ardeal returned high gold grades between 14-19 metres and native gold was panned from the 3-kilogram sample from 16-17 metres.

Further drilling will be planned to further investigate the significant potential for additional gold mineralisation that this aircore program has identified.

READ: Thundelarra chairman buys one million shares on-market

Thundelarra is focused on its 100% owned Garden Gully Gold Project where it has been aggressively exploring since mid-2016.

The Meekatharra area has produced over 7 million ounces of gold including high-grade historical mining within the Garden Gully project.

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Thu, 28 Jun 2018 10:43:00 +1000 https://www.proactiveinvestors.com.au/companies/news/199731/thundelarra-aircore-results-reveal-visible-supergene-gold-199731.html
<![CDATA[News - Thundelarra chairman buys one million shares on-market ]]> https://www.proactiveinvestors.com.au/companies/news/196506/thundelarra-chairman-buys-one-million-shares-on-market-196506.html Thundelarra Ltd (ASX:THX) has received a vote of confidence from its chairman Philip Crabb who has purchased another one million shares through on-market trades.

The $22,024 worth of trades increases Crabb’s overall shareholding in the company to 76.6 million shares.

READ: Thundelarra focused on recommencing high-grade gold mining at Garden Gully

Thundelarra is focused on exploration at its 100% owned Garden Gully Gold Project located in the Meekatharra area of Western Australia.

The Meekatharra area has produced over 7 million ounces of gold including high-grade historical mining within the Garden Gully project.

By April 2018, 18 months of aggressive exploration had resulted in Thundelarra drilling 40,000 metres in 415 holes at the project.

 

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Tue, 08 May 2018 13:47:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196506/thundelarra-chairman-buys-one-million-shares-on-market-196506.html
<![CDATA[News - Thundelarra’s geophysical survey methods detect gold prospects at Garden Gully ]]> https://www.proactiveinvestors.com.au/companies/news/196195/thundelarras-geophysical-survey-methods-detect-gold-prospects-at-garden-gully-196195.html Thundelarra Ltd (ASX:THX) has demonstrated that Sub-Audio Magnetics (SAM) geophysical surveys are effective in detecting prospective structures at its Garden Gully Gold Project in Western Australia.

Preliminary results from a SAM survey underway at the Crown Prince and Lydia prospects are encouraging.

They are already showing that this method will be of value for future exploration to identify further targets over areas with extensive cover.

READ: Thundelarra focused on recommencing high-grade gold mining at Garden Gully

At Crown Prince, the survey has defined several bedrock conductive units which have been disrupted by cross-cutting structures.

These have a clear correlation with the known gold mineralisation.

It is a similar story at Lydia prospect where the NE/SW dipole SAM surveying shows good correlation with gold intersections from previous drilling.

 

 

The Garden Gully project area is characterised by a layer of transported cover of variable thickness, underlain in places by a sub-surface layer of duricrust.

Thundelarra believes these factors have contributed to past geochemistry surveys failing to identify and locate accurately the underlying primary mineralised structures.

This was the rationale for a recent program of aircore drilling.

Surveys at Transylvania and Young

The company’s exploration methods have found these structures and SAM surveys are being undertaken over the Transylvania and Young prospects.

Other selected areas with complete cover will follow soon after.

Samples collected

There have been 1,250 samples collected from recent aircore, reverse circulation and diamond drilling.

These have been submitted to Nagrom laboratory in Perth for multiple elements analysis.

After receiving and collating assay results the company will also consider the detailed interpretation of survey findings to determine the next exploration steps, including drilling.

Garden Gully prospects.

Garden Gully comprises 15 granted prospecting licences and two granted exploration licences covering about 78 square kilometres.

It is in the Murchison region about 20 kilometres northwest of the town of Meekatharra.

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Wed, 02 May 2018 09:18:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196195/thundelarras-geophysical-survey-methods-detect-gold-prospects-at-garden-gully-196195.html
<![CDATA[News - Thundelarra enters June quarter with strong cash position to fund drilling ]]> https://www.proactiveinvestors.com.au/companies/news/195618/thundelarra-enters-june-quarter-with-strong-cash-position-to-fund-drilling-195618.html Thundelarra Ltd (ASX:THX) completed the March quarter and has therefore entered the current June quarter with $3.68 million in cash and $0.2 million in equity investments.

Funds will go towards phase 6 drilling underway focused on the Crown Prince prospect within the 100% owned flagship Garden Gully Gold Project in Western Australia.

One reverse circulation (RC) rig and one diamond rig are testing for extensions of high-grade gold mineralisation at the Main Lode and Northern Lode.

READ: Thundelarra focused on recommencing high-grade gold mining at Garden Gully

The next phases of work are focused on advancing the Crown Prince and Lydia prospects towards a maiden resource.

The high grades intercepted at Crown Prince such as 8 metres at 22.3 g/t gold make it a compelling target.

Aircore drilling to continue testing emerging prospects

Thundelarra will also continue to evaluate untested parts of the extensive Garden Gully project area for further repetitions of the structures and mineralisation settings identified to date.

The approach will be a program of aircore traverses to test below the thin veneer of transported cover.

The evidence so far continues to point towards these individual prospects comprising elements of a much larger mineralising system at depth.

Assays pending for recently completed 274-hole aircore program

Recently, a 274-hole, 14,025-metre aircore drilling program was completed.

The program tested for new near-surface extensions of mineralised structures.

Samples have been submitted for laboratory analysis and results will be reported when available.

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Tue, 24 Apr 2018 14:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195618/thundelarra-enters-june-quarter-with-strong-cash-position-to-fund-drilling-195618.html
<![CDATA[News - Thundelarra focused on recommencing high-grade gold mining at Garden Gully ]]> https://www.proactiveinvestors.com.au/companies/news/195321/thundelarra-focused-on-recommencing-high-grade-gold-mining-at-garden-gully-195321.html Thundelarra Ltd (ASX:THX) is focused on exploration at its 100% owned Garden Gully Gold Project located in the Meekatharra area of Western Australia.

The Meekatharra area has produced over 7 million ounces of gold including high-grade historical mining within the Garden Gully project.

By April 2018, 18 months of aggressive exploration had resulted in Thundelarra drilling 40,000 metres in 415 holes at the project.

READ: Thundelarra aircore results reveal visible supergene gold

The Garden Gully Gold Project comprises 15 granted prospecting licences and 2 granted exploration licences covering about 78 square kilometres in the Eastern Goldfields.

Exploration commenced in May 2016 and to date has revealed 14 prospects.

While multiple prospects have revealed gold mineralisation, the company’s focus is on the Crown Prince and Lydia prospects.

Visible gold has been observed in drilling at both of these prospects and drilling has intersected 7 metres at 24.5 g/t gold at Lydia and 8 metres at 22.3 g/t gold at Crown Prince.

READ: Thundelarra serves up high-grade gold tasters at Garden Gully project in Western Australia

Results from July 2018 at Crown Prince revealed 3.25 metres at 18.5 g/t gold from 107 metres and 11 metres at 4.9 g/t gold from 42 metres.

High-grade gold at Crown Prince drilled below historical workings

Importantly, Crown Prince has a proven production history as it produced 20,718 ounces grading 21.7 g/t gold historically.

Drilling at Crown Prince intersected grades of up to 66.5 g/t gold across multiple holes and showed that gold mineralisation went down to at least 245 vertical metres.

Notably, Thundelarra’s first drill program extended the Main Lode to at least 130 metres below the base of the old workings, with the high grades continuing at depth.

READ: Thundelarra commences follow-up drill program testing for gold extensions

In mid-April 2018, Thundelarra commenced follow-up reverse circulation (RC) and diamond drilling at Crown Prince and Lydia.

The new program comprised 10 RC holes for 2,500 metres and 7 diamond holes for 2,000 metres.

The objective was to test along strike and down dip for extensions and repetitions of the North and Main Lodes at Crown Prince.

Some holes will also be aimed at verifying data from previous explorers, which can then potentially be used to upgrade the resource to JORC 2012 standards.

Lydia shows gold mineralisation along 500 metres of strike

The Lydia prospect hosts gold mineralisation to at least 240 metres vertical depth and over about 500 metres of strike length.

The mineralisation remains open at depth and along strike.

Highlights from drilling at Lydia includes 7 metres at 24.5 g/t gold from 11 metres, 80 metres at 1.9 g/t gold from 79 metres, 38 metres at 2.9 g/t gold from 97 metres and 45 metres at 1.3 g/t gold from 215 metres.

The recently commenced drilling program targeting Crown Prince will also target Lydia and aim to deliver maiden resources at both prospects.

Good infrastructure and near to gold plants in need of feed

Importantly, local infrastructure to Garden Gully includes two operational gold treatment plants nearby.

These are the 3.1 million tonnes per annum Bluebird plant operated by Westgold Resources Ltd (ASX:WGX) and the 300,000 tonnes per annum Andy Well plant operated by Doray Minerals Ltd (ASX:DRM).

Westgold and Doray both have active exploration programs in the region in the search for more mineralisation to generate feed for their plants which have spare capacity.

Both companies hold tenements that abut the Garden Gully project.

Joint venture partner funding Red Bore exploration

Although Thundelarra’s focus is on Garden Gully, in July 2017, one of its joint venture partners made a move at the Red Bore Copper-Gold Project.

Red Bore is a granted mining licence two square kilometres in area located in the Doolgunna region of Western Australia.

Its western boundary is less than 600 metres from Sandfire Resources NL’s (ASX:SFR) operating DeGrussa copper-gold mine’s processing plant.

READ: Thundelarra Ltd outlines pre-emptive right exercised for Red Bore

Joint venture partner, W Richmond, owns 10% of Red Bore with the remaining 90% held be Thundelarra.

Richmond can sole fund at least $1.5 million on exploration at Red Bore by late January 2019 to earn up top 85%.

To increase his equity interest in the licence W Richmond must also define at least 30,000 tonnes of copper or copper equivalent.

During July 2018, W Richmond lodged a program of works for follow-up drill testing at Red Bore.

The deal keeps the Red Bore project in play for Thundelarra shareholders while not being a drag on cash, which can be utilised on Garden Gully exploration.

At the end of the June quarter 2018, Thundelarra had an estimated $2.4 million cash and investments to continue funding Garden Gully exploration and working capital expenses.

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Thu, 19 Apr 2018 14:49:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195321/thundelarra-focused-on-recommencing-high-grade-gold-mining-at-garden-gully-195321.html
<![CDATA[Media files - Thundelarra's gold exploration "on the cusp of something great" ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9102/thundelarra-s-gold-exploration-on-the-cusp-of-something-great--9102.html Thu, 19 Apr 2018 13:24:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9102/thundelarra-s-gold-exploration-on-the-cusp-of-something-great--9102.html <![CDATA[News - Thundelarra completes 14,000-metre aircore drill program at Garden Gully ]]> https://www.proactiveinvestors.com.au/companies/news/195215/thundelarra-completes-14000-metre-aircore-drill-program-at-garden-gully-195215.html Thundelarra Ltd (ASX:THX) has completed its 274-hole, 14,025-metre aircore drill program at its flagship Garden Gully Gold Project in Western Australia.

The objective of the program was to test for near-surface extensions of known mineralised structures and test new targets.

Drill samples have been submitted for assay.

Deeper drilling now underway

Earlier this week, Thundelarra commenced follow-up drilling at the Crown Prince prospect within Garden Gully.

The reverse circulation (RC) and diamond drilling program is following up positive results from the inaugural drilling program in late 2017.

Results featured intersections such as 8 metres at 22.3 g/t gold.

Aircore drilling is a cost-effective strategy

Shallower aircore drilling is a cost-effective strategy Thundelarra is using to better identify the potential of Garden Gully’s 14 prospects.

READ: Thundelarra commences follow-up drill program testing for gold extensions

The Garden Gully Gold Project is located in the Meekatharra area which has produced over 7 million ounces of gold.

It has established infrastructure and is close to two gold plants in Andy Well 300,000 tonnes per annum (tpa) owned by Doray Minearls Ltd (ASX:DRM) and Bluebird 3.1 million tpa owned by Westgold Resources Ltd (ASX:WGX).

Westgold and Doray both have very active exploration programmes in the region in the search for more mineralisation to generate feed for their plants which have spare capacity.

Both companies hold tenements that abut the Garden Gully project.

Notably the project has a proven production history having produced 20,718 ounces grading 21.7 g/t gold previously.

Thundelarra’s drilling is working towards a maiden resource at the project.

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Wed, 18 Apr 2018 14:54:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195215/thundelarra-completes-14000-metre-aircore-drill-program-at-garden-gully-195215.html
<![CDATA[News - Thundelarra commences follow-up drill program testing for gold extensions ]]> https://www.proactiveinvestors.com.au/companies/news/195007/thundelarra-commences-follow-up-drill-program-testing-for-gold-extensions-195007.html Thundelarra Ltd (ASX:THX) has commenced follow-up drilling at the Crown Prince prospect within its flagship 100% owned Garden Gully Gold Project in Western Australia.

The reverse circulation (RC) and diamond drilling program is following up positive results from the inaugural drilling program in late 2017.

Results featured intersections such as 8 metres at 22.3 g/t gold.

READ: Thundelarra strikes golden jewels in drilling at Crown Prince prospect

Historical gold production at Crown Prince totalled about 21,000 ounces at an average grade of about 22 g/t gold.

Thundelarra’s objective is to gain a clear understanding of the geology and structures controlling the mineralisation at Crown Prince.

Initial results confirmed these high gold grades down dip and 130 metres below the old workings.

New program to test along strike and down dip for extensions

The new program will comprise 10 RC holes for 2,500 metres and 7 diamond holes for 2,000 metres.

The objective is to test along strike and down dip for extensions and repetitions of the North and Main Lodes.

Some holes will also be aimed at verifying data from previous explorers, which can then potentially be used to upgrade the resource to JORC 2012 standards.

READ: Thundelarra’s drilling unveils further gold potential at the Garden Gully project

Garden Gully is host to other prospects outside of Crown Prince and exploration has highlighted the overall project’s potential to host a large gold resource.

While a maiden resource at Crown Prince and Lydia is a priority, exploration results from other prospects have not disappointed.

READ: Thundelarra uses aircore drilling to generate further gold targets at Garden Gully ]]>
Mon, 16 Apr 2018 15:32:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195007/thundelarra-commences-follow-up-drill-program-testing-for-gold-extensions-195007.html
<![CDATA[News - Thundelarra uses aircore drilling to generate further gold targets at Garden Gully ]]> https://www.proactiveinvestors.com.au/companies/news/193837/thundelarra-uses-aircore-drilling-to-generate-further-gold-targets-at-garden-gully-193837.html Thundelarra Ltd (ASX:THX) is undertaking aircore drilling at the Garden Gully Gold Project in Western Australia to test for near-surface extensions of mineralised targets.

The aircore program, which includes narrow diameter hammer drilling, is designed to penetrate the surface cover to generate more meaningful geochemical profiles.

These can then be used by Thundelarra to establish targets for follow-up deeper reverse circulation drilling.

READ: Thundelarra strikes golden jewels in drilling at Crown Prince prospect

This process has been successful in the past, including identification of the Lydia and Crown Prince prospects.

The company is awaiting a reverse circulation (RC) rig to test the Crown Prince follow-up targets with a diamond rig to then drill diamond tails as warranted.

Garden Gully prospects on a magnetic image showing proposed aircore drill traverses.

Discovery of new prospects at Garden Gully resulted from an initial shallow scout drilling program in 2016.

There were 11 prospects identified for follow-up, a number of which were unknown.

Structural trends delineated

Subsequent testing has delineated structural trends along which the gold-bearing zones are located.

The possibility that repetitions of these zones may be present in areas previously untested is the reason for the aircore program.

It is believed that the varying thickness of the cover underlain by some areas of hard sub-surface, has contributed to the failure of soil geochemistry surveys to locate underlying primary mineralised structures.

READ: Thundelarra’s drilling unveils further gold potential at the Garden Gully project

First drilling at Crown Prince in late 2017 demonstrated that high-grade mineralisation is present at least 130 metres down plunge below the base of known mineralisation.

Results from more than 26,000 metres drilled in 141 RC and diamond drill holes since mid-2016 continue to support the possible existence of a large mineralised system at depth.

Thundelarra believes this may act as a single source for mineralisation identified so far at the various prospects.

Understanding of mineralisation is growing

Understanding of the controls on mineralisation is growing and improving with each work program.

The company considers that Garden Gully results to date are an unqualified success.

They continue to demonstrate that the project holds the potential for a significant new body of gold mineralisation in a proven gold province around Meekatharra.

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Tue, 27 Mar 2018 15:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193837/thundelarra-uses-aircore-drilling-to-generate-further-gold-targets-at-garden-gully-193837.html
<![CDATA[News - Thundelarra’s drilling unveils further gold potential at the Garden Gully project ]]> https://www.proactiveinvestors.com.au/companies/news/191866/thundelarras-drilling-unveils-further-gold-potential-at-the-garden-gully-project-191866.html Thundelarra Ltd (ASX:THX) has received new assay results continuing to support the possible existence of a large mineralised system at the Garden Gully gold project near Meekatharra in Western Australia.

Evaluation of new data from drilling at the Transylvania, Battery, South Crown and Granite Well prospects continues to support the possibility of a single source of mineralisation at these prospects and at Lydia and Crown Prince.

Further promise at Transylvania

Notably, a new significant intersection at Transylvania includes 3 metres at 8.3 g/t gold from 68 metres, within 8 metres at 3.3 g/t gold from 67 metres.

Transylvania is giving indications of possible repetitions of the mineralisation styles and structural settings identified at Crown Prince and at Lydia.

New significant intersections at Battery include 4 metres at 2.6 g/t gold from 52 metres, within 6 metres at 1.9 g/t gold from 52 metres.

Thundelarra began exploration at Garden Gully in mid-2016 and continues to explore the project aggressively. To date over 26,000 metres of drilling has been completed.

READ: Thundelarra strikes golden jewels in drilling at Crown Prince prospect

Earlier this month, the company received high-grade gold hits from drilling at the Crown Prince prospect within the Garden Gully Gold Project.

Gold mineralisation was intersected in 11 of the 18 holes drilled for 4,535 metres with the best result being 4 metres at 16.5 g/t gold from 166 metres.

The drilling program supports the potential that commercial mineralisation exists at Garden Gully.

Strong results of up to 9 metres at 4.8 g/t gold from 213 metres were also received from recent drilling at the Lydia prospect.

Aiming to define a maiden resource at Lydia and Crown Prince

The Garden Gully results to date continue to demonstrate that the project holds the potential for a significant new body of gold mineralisation in this proven gold province around Meekatharra.

Thundelarra’s next phases of work will focus on advancing the Lydia and Crown Prince prospects towards the definition of maiden resources.

The company will also continue to evaluate the untested parts of the extensive Garden Gully project area for further repetitions of the structures and mineralisation settings identified to date.

The evidence so far continues to point towards these individual prospects comprising elements of a much larger mineralising system at depth.

READ: Thundelarra enhances gold bounty at Garden Gully ]]>
Tue, 20 Feb 2018 11:29:00 +1100 https://www.proactiveinvestors.com.au/companies/news/191866/thundelarras-drilling-unveils-further-gold-potential-at-the-garden-gully-project-191866.html
<![CDATA[News - Thundelarra strikes golden jewels in drilling at Crown Prince prospect ]]> https://www.proactiveinvestors.com.au/companies/news/191347/thundelarra-strikes-golden-jewels-in-drilling-at-crown-prince-prospect-191347.html Thundelarra Ltd (ASX: THX) has received high-grade gold hits from first drilling at the Crown Prince prospect within its Garden Gully Gold Project in Western Australia.

Gold mineralisation was intersected in 11 of the 18 holes drilled for 4,535 metres with the best result being 4.0 metres at 16.5 g/t gold from 166 metres.

The drilling program supports the potential that commercial mineralisation exists at Garden Gully.

READ: Thundelarra enhances gold bounty at Garden Gully

Strong results of up to 9 metres at 4.8 g/t gold from 213 metres were also received from recent drilling at the Lydia prospect.

Garden Gully covers 78 square kilometres and is near Meekatharra, a well-established and proven gold production centre in Murchison province.

Other new results from Crown Prince are 3.5 metres at 7.6 g/t from 109 metres, 2.6 metres at 7.5 g/t from 130 metres and 3.8 metres at 3.5 g/t from 220 metres.

The inaugural drilling program at the prospect comprised 10 reverse circulation holes for 2,943 metres and eight diamond holes for 1,592 metres.

READ: Thundelarra’s shares rise on confirming Crown Prince gold discovery

Thundelarra began exploring Crown Prince about four months ago and drilling has shown the down dip/plunge extension of the Main Lode extends at least 130 metres below the lowest level of previous workings.

It has also demonstrated the presence of free gold within high grade sections at depth.

The results have validated Thundelarra’s aggressive exploration approach and justify pursuit of the Crown Prince tenement.

Thundelarra will continue to test for down-dip/plunge extensions, and possible repetitions, to the Main and the Northern lodes at the prospect, which remains open.

Aim for maiden resource estimates

It aims to compile sufficient drilling data to allow the calculation of maiden resources at Crown Prince and Lydia.

The company has completed more than 26,000 metres of drilling in 141 holes at Garden Gully since it began exploration in mid-2016.

This comprises 23,556 metres of reverse circulation and 2,522.6 metres of diamond drilling.

A number of prospects

As well as Crown Prince and Lydia, other prospects targeted in recent drilling are Crown, Battery and Transylvania.

Other prospects within Garden Gully include Ascuns, Young, Granite Well and NW Granite Well.

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Thu, 08 Feb 2018 15:32:00 +1100 https://www.proactiveinvestors.com.au/companies/news/191347/thundelarra-strikes-golden-jewels-in-drilling-at-crown-prince-prospect-191347.html
<![CDATA[News - Thundelarra enhances gold bounty at Garden Gully ]]> https://www.proactiveinvestors.com.au/companies/news/190144/thundelarra-enhances-gold-bounty-at-garden-gully-190144.html Thundelarra Ltd (ASX:THX) continues to extend gold mineralisation at the Lydia prospect within the Garden Gully Gold Project in Western Australia.

Results of up to 9 metres at 4.8 g/t gold from 213 metres have been received from recent drilling.

There were 16 reverse circulation holes drilled for 2,924.3 metres and two diamond holes for 168.3 metres.

READ: Thundelarra awaits golden assays as drill rigs continue at Garden Gully

All holes intersected gold mineralisation confirming the presence of an extensive mineralisation system.

This extends for a strike length of more than 500 metres, which remains open to the north and south, and at depth.

Other results include 8 metres at 2.6 g/t gold from 81 metres, 11 metres at 2.9 g/t from 120 metres, 10 metres at 2.6 g/t from 115 metres and 5 metres at 3.1 g/t from 137 metres.

Potential for major Garden Gully discovery

Results continue to support the potential for a major new discovery at Garden Gully.

Thundelarra began exploring Garden Gully in mid-2016 and to date almost 26,000 metres of drilling has been completed in 141 holes.

The project covers 78 square kilometres in the Doolgunna region, 20 kilometres from the town of Meekatharra in the state’s Murchison province.

READ: Thundelarra’s shares rise on confirming Crown Prince gold discovery

Prospects targeted in recent drilling are Crown Prince, Crown, Lydia, Battery and Transylvania.

Other prospects within the project include Ascuns, Young, Granite Well and NW Granite Well.

Infill drilling program

The infill drilling on the most recent campaign was within the north-western part of the main Lydia shear zone.

The program of work submitted and approved was designed to test a possible extension of mineralisation towards the northwest.

Structural data from one of the holes indicates a plunge and down-dip extension of the mineralisation towards the southwest.

Deep drilling is planned

As the approved program did not contemplate this revised geological understanding, no deep drilling could be undertaken.

A new works program must be submitted and approved before these newly interpreted extensions can be tested.

The next phase of work will involve stepping collars back to the southwest along the extent of the shear zone.

Holes will be drilled deeper to test for extensions and continuity beneath the mineralisation discovered to date.

Initial resource in the pipeline

Infill holes will also be drilled, potentially at 25 metre spacing, as a basis for an initial resource calculation.

Garden Gully is a proven source of high-grade gold with 21,000 ounces produced historically at a grade of 21 g/t.

Gold was only sourced from maximum depths of 120 metres, which provides Thundelarra with potential for deposits at depth.

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Wed, 17 Jan 2018 15:48:00 +1100 https://www.proactiveinvestors.com.au/companies/news/190144/thundelarra-enhances-gold-bounty-at-garden-gully-190144.html
<![CDATA[News - Thundelarra’s shares rise on confirming Crown Prince gold discovery ]]> https://www.proactiveinvestors.com.au/companies/news/188619/thundelarras-shares-rise-on-confirming-crown-prince-gold-discovery-188619.html Thundelarra Ltd’s (ASX:THX) shares were trading 12.5% higher intra-day after receiving high-grade assays from drilling at its Crown Prince gold discovery within the Garden Gully Gold Project in Western Australia.

The results, including up to 2.4 metres at 66.5 g/t gold from 263 metres, confirm that the free visible gold revealed last month represents significant mineralisation.

READ: Thundelarra drills second hole with visible gold at Crown Prince

Tony Lofthouse, chief executive officer, said: “We anticipated high gold grades and are very gratified to have the laboratory proof.

“When we have all pending assays from the other holes, we will then be able to generate preliminary interpretations of the high grade Crown Prince Main Lode geometry.

“There is every indication that the lode extends for at least 130 metres below the old workings and is still open”.

Stellar assays from a diamond drill hole

Thundelarra has intersected stellar assay results from the diamond drill hole:

2.40 metres at 66.5 g/t gold from 263.40 metres; within 5.65 metres at 29.2 g/t gold from 260.80 metres; within 8.00 metres at 22.3 g/t gold from 259.20 metres.

Significantly, high grade free gold mineralisation is now confirmed to be present at 130 vertical metres below the deepest recorded historical workings.

This augurs well for the potential existence of commercial quantities of gold mineralisation.

Moreover, the results for multiple drill holes are still awaited, which will give a clearer picture about the gold potential of Crown Prince. 

READ: Thundelarra awaits golden assays as drill rigs continue at Garden Gully

As at the end of November, nine diamond holes for 1,244 metres and 30 reverse circulation holes for 7,150 metres have been drilled at multiple prospects across the project.

Garden Gully project background

Garden Gully is comprised of 15 granted prospecting licences and 2 granted exploration licences covering 78 square kilometres in the Doolgunna region, 20 kilometres from the town of Meekatharra.

Historical gold production totalled about 21,000 ounces at circa 21 g/t gold and was sourced from a maximum reported depth of 120 metres.

The current drilling will help Thundelarra gain a clearer understanding of the geology and structures controlling the mineralisation, to allow it to target extensions to that mineralisation.

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Tue, 12 Dec 2017 11:41:00 +1100 https://www.proactiveinvestors.com.au/companies/news/188619/thundelarras-shares-rise-on-confirming-crown-prince-gold-discovery-188619.html
<![CDATA[News - Thundelarra awaits golden assays as drill rigs continue at Garden Gully ]]> https://www.proactiveinvestors.com.au/companies/news/187929/thundelarra-awaits-golden-assays-as-drill-rigs-continue-at-garden-gully-187929.html Thundelarra Ltd (ASX:THX) is expecting its first batch of assay results from its ongoing aggressive drill program at the Garden Gully Gold Project located in Western Australia.

Nine diamond holes for 1,244 metres and 30 reverse circulation holes for 7,150 metres have been drilled so far at multiple prospects across the project.

Notably, Thundelarra has intersected visible gold in two holes at the Crown Prince prospect making the pending assays highly anticipated by investors.

READ: Thundelarra drills second hole with visible gold at Crown Prince

The visible gold at Crown Prince demonstrates that primary gold mineralisation extends at least 130 metres below the level of the historical workings.

Since mid-2016, 20,871 metres of reverse circulation drilling and 2,032 metres diamond drilling has been completed at Garden Gully.

The aggressive drilling program remains in progress with both diamond and reverse circulation rigs operating.

Garden Gully is the company’s flagship project

The Garden Gully project is a proven source of high-grade gold with 21,000 ounces of gold produced historically at a grade of 21 g/t gold.

Significantly, historical gold was only sourced from maximum depths of 120 metres.

Of the 39 holes completed in the current program at Garden Gully, prospects targeted include Crown Prince, Crown, Lydia, Battery and Transylvania.

Other prospects within the project include Ascuns, Young, Granite Well and NW Granite Well.

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Wed, 29 Nov 2017 08:07:00 +1100 https://www.proactiveinvestors.com.au/companies/news/187929/thundelarra-awaits-golden-assays-as-drill-rigs-continue-at-garden-gully-187929.html
<![CDATA[News - Thundelarra strengthens board with new director ]]> https://www.proactiveinvestors.com.au/companies/news/187502/thundelarra-strengthens-board-with-new-director-187502.html Thundelarra (ASX:THX) has appointed Rick Crabb as an additional independent non-executive director to its board.

Crabb practised as a solicitor from 1980 to 2004 specialising in mining, corporate and commercial law.

He has advised on all legal aspects including financing, marketing, government agreements and construction contracts for many resource development projects in Australia and Africa.

Crabb is currently a director of Paladin Energy Ltd (ASX:PDN) and Golden Rim Resources Ltd (ASX:GMR) and was previously a non-executive director of Thundelarra from 2003 to 2006.

Frank DeMarte, director, commented: “We welcome Rick back to the Thundelarra board and we are all looking forward to working with Rick again.

“He brings extensive and relevant skills, experience and knowledge of the mining industry to the role.”

READ NOW: Thundelarra drills second hole with visible gold at Crown Prince ]]>
Mon, 20 Nov 2017 20:43:00 +1100 https://www.proactiveinvestors.com.au/companies/news/187502/thundelarra-strengthens-board-with-new-director-187502.html
<![CDATA[News - Thundelarra drills second hole with visible gold at Crown Prince ]]> https://www.proactiveinvestors.com.au/companies/news/187270/thundelarra-drills-second-hole-with-visible-gold-at-crown-prince-187270.html Thundelarra (ASX:THX) has intersected multiple occurrences of visible free gold in another diamond hole at the Crown Prince Prospect within the Garden Gully Gold Project in Western Australia.

This visible gold occurs across a 5.5-metre interval from 259.3 metres depth in diamond hole TGGRCDD110 and follows the recent visible gold witnessed in hole TGGDD090.

READ NOW: Thundelarra drills out visible gold at Crown Prince

The discovery of free gold in two of the holes drilled to date at Crown Prince is significant and bodes well for the rest of the drilling campaign currently underway.

Tony Lofthouse, CEO, commented: “Finding visible free gold in fresh drill core from within the primary zone is uncommon and so this is highly significant for the potential of the Crown Prince prospect.

“The presence of visible free gold will generally indicate high gold grades, so the core will be cut, sampled and submitted for laboratory assays as soon as possible”.

Six occurrences of free gold observed

Visible free gold has been observed six times in the core from drill hole TGGRCDD110 and clearly shows that the gold is separate from the sulphides.

The possibility that commercial mineralisation is present at Crown Prince is significantly enhanced by the presence of free gold in multiple locations below the historical workings.

The recent hole showed that free gold occurred at 110 metres vertical depth and this new hole now also shows free gold occurs at 245 metres.

The current drilling aims to better understand the geology and structures controlling the mineralisation, which in turn will allow Thundelarra to target effectively for extensions to that mineralisation.

Drilling continues and assays remain pending.

Garden Gully Gold Project

Garden Gully is comprised of 15 granted prospecting licences and 2 granted exploration licences covering 78 square kilometres in the Doolgunna region, 20 kilometres from the town of Meekatharra.

Since commencing exploration in mid-2016, Thundelarra has drilled 85 reverse circulation holes for 13,721 metres and 2 diamond holes for 788 metres.

Two drill programs are currently underway, the first is the 3,000-metre diamond program at Crown Prince.

The second is a 3,500-metre reverse circulation drilling program at the Lydia Prospect within the Garden Gully Project which aims to define a maiden JORC resource by early 2018.

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Wed, 15 Nov 2017 16:05:00 +1100 https://www.proactiveinvestors.com.au/companies/news/187270/thundelarra-drills-second-hole-with-visible-gold-at-crown-prince-187270.html
<![CDATA[News - Thundelarra has assays on the table, Crown Prince recently yielded visible gold ]]> https://www.proactiveinvestors.com.au/companies/news/187110/thundelarra-has-assays-on-the-table-crown-prince-recently-yielded-visible-gold-187110.html Thundelarra Ltd (ASX:THX) is currently in the process of collating exploration drilling results, and the ASX has granted the company a trading halt to prepare.

Thundelarra recently identified visible gold while drilling at the Crown Prince prospect at the Garden Gully Gold Project.

READ NOW: Thundelarra drills out visible gold at Crown Prince

The halt will remain in place until the opening of trade on Wednesday 15th November 2017, or earlier if an announcement is made to the market.

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Mon, 13 Nov 2017 10:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/187110/thundelarra-has-assays-on-the-table-crown-prince-recently-yielded-visible-gold-187110.html
<![CDATA[News - Thundelarra drills out visible gold at Crown Prince ]]> https://www.proactiveinvestors.com.au/companies/news/186540/thundelarra-drills-out-visible-gold-at-crown-prince-186540.html Thundelarra (ASX:THX) has identified visible gold while drilling at the Crown Prince prospect within the Garden Gully Gold Project located in the Murchison region of Western Australia.

Drilling is a part of the aggressive exploration program underway at Garden Gully which consists of 3,500-metre reverse circulation and 3,000-metre diamond drilling programs.

The visible gold was intersected in fresh rock at 110 metres vertical depth meaning it is primary gold mineralisation.

This occurrence of visible gold in the primary zone well below the level of historical workings augurs well for the rest of the drilling campaign currently underway.

Drilling at Crown Prince aims to generate quality structural and geological information that will provide a reliable technical basis for subsequent drilling to define a maiden resource.

Garden Gully

Garden Gully is comprised of 15 granted prospecting licences and 2 granted exploration licences covering 78 square kilometres in the Doolgunna region, 20 kilometres from the town of Meekatharra.

Since commencing exploration in mid-2016, Thundelarra has drilled 85 reverse circulation holes for 13,721 metres and 2 diamond holes for 788 metres.

The recent addition of Crown Prince to the Garden Gully project is significant as it brings all the historical prospecting and production areas at Garden Gully into a single exploration project under one owner.

Records show the area produced 20,718 ounces of gold at an average grade of 21.7 g/t, mainly from the Crown Prince lease.

READ NOW: Thundelarra advances drilling with second rig at Garden Gully Gold Project Lydia Prospect

A 13-hole reverse circulation drilling program is also underway at the Lydia Prospect within the Garden Gully Project.

Drilling aims to define a maiden JORC resource by early 2018.

An additional 1,000 metres of diamond tails is also earmarked for the reverse circulation holes where results warrant extension.

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Wed, 01 Nov 2017 15:32:00 +1100 https://www.proactiveinvestors.com.au/companies/news/186540/thundelarra-drills-out-visible-gold-at-crown-prince-186540.html
<![CDATA[News - Thundelarra advances drilling with second rig at Garden Gully Gold Project ]]> https://www.proactiveinvestors.com.au/companies/news/185303/thundelarra-advances-drilling-with-second-rig-at-garden-gully-gold-project-185303.html Thundelarra Ltd (ASX:THX) is set to increase exploration news flow over the next couple of months, with a second rig arriving at the Garden Gully Gold Project in Western Australia.

Historical gold production at Garden Gully totalled circa 21,000 gold ounces at an average grade of 21 g/t.

The reverse circulation drill rig collared the first hole of the follow-up program at Lydia and drilling is now well underway.

Drilling is designed to cover 13 holes for a total advance of about 3000 metres to 3500 metres.

It is expected that as the holes are drilled and logged, several will warrant completion or continuation by diamond tails.

Around 1000 metres of diamond tails are contemplated over a number of holes as the company's understanding of the geology and controlling structures grows at Lydia.

Garden Gully exploration

Since commencing exploration at Garden Gully in mid-2016, Thundelarra has drilled 85 reverse circulation holes for 13,721 metres, and two diamond holes covering 788 metres.

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Tue, 10 Oct 2017 11:04:00 +1100 https://www.proactiveinvestors.com.au/companies/news/185303/thundelarra-advances-drilling-with-second-rig-at-garden-gully-gold-project-185303.html
<![CDATA[News - Thundelarra begins drilling for gold at the Crown Prince prospect ]]> https://www.proactiveinvestors.com.au/companies/news/185012/thundelarra-begins-drilling-for-gold-at-the-crown-prince-prospect-185012.html Thundelarra Ltd (ASX:THX) has commenced diamond drilling at the Crown Prince prospect within its Garden Gully Gold Project located near Meekatharra in Western Australia.

The program is using triple tube coring from surface to maximise core recovery and to generate as much geological and structural information as possible to help locate mineralisation.

This first program is designed to comprise 12 holes for a total of circa 2,000 metres.

Thundelarra’s objective is to gain a clear understanding of the geology and structures controlling the mineralisation at Crown Prince in order to define the geometry and extent of the mineralisation present.

Importantly, the evaluation of the previous work at Crown Prince indicates a potential to host further gold mineralisation.

The recent addition of Crown Prince to the Garden Gully project is significant as it brings all the historical prospecting and production areas at Garden Gully into a single exploration project under one owner.

It is worth noting that the historical gold production at Garden Gully totalled circa 21,000 gold ounces at an average grade of 21 g/t.

READ NEXT: Thundelarra expands capital raising due to demand

The company has raised $2.54 million from its recently closed rights issue representing an impressive 60% take-up under the issue.

This brings funds raised by the rights issue, shortfall and additional placement to circa $5.22 million.

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Wed, 04 Oct 2017 13:37:00 +1100 https://www.proactiveinvestors.com.au/companies/news/185012/thundelarra-begins-drilling-for-gold-at-the-crown-prince-prospect-185012.html
<![CDATA[News - Thundelarra expands capital raising due to demand ]]> https://www.proactiveinvestors.com.au/companies/news/184633/thundelarra-expands-capital-raising-due-to-demand-184633.html Thundelarra (ASX:THX) has raised $2.54 million in its recently closed rights issue representing an impressive 60% take-up under the issue.

The maximum number of shares that were available to be issued was 170.6 million leaving a shortfall of 68.9 million shares.

Demand for these shortfall securities far exceeded the 68.9 million available and as such Thundelarra has agreed to undertake a private placement to accommodate for some of this demand.

The additional placement to unrelated sophisticated investors is for 38 million shares and 19 million options to be issued on the same terms as the rights issue raising an additional $950,000.

This brings funds raised by the rights issue, shortfall and additional placement to circa $5.215 million before costs.

Philip Crabb, chairman, commented: “On behalf of the board I want to thank shareholders for their tremendous support for the offer – it is a great endorsement by shareholders of the company’s gold focus strategy.”

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Wed, 27 Sep 2017 12:48:00 +1000 https://www.proactiveinvestors.com.au/companies/news/184633/thundelarra-expands-capital-raising-due-to-demand-184633.html
<![CDATA[News - Thundelarra mobilising diamond drill rig at Crown Prince ]]> https://www.proactiveinvestors.com.au/companies/news/184473/thundelarra-mobilising-diamond-drill-rig-at-crown-prince-184473.html Thundelarra (ASX:THX) is organising a diamond drill rig to be mobilised to site at its Crown Prince prospect within the 100% owned Garden Gully Gold Project located in Western Australia.

This comes after the state government recently approved the programme of work application for planned exploration at the licence.

By using a diamond drill rig, Thundelarra is able to maximise the amount of structural and geological data collected in the program.

A clear understanding of the geology and structures controlling the mineralisation at Crown Prince is of paramount importance in defining the mineralisation present.

Thundelarra will advise the market as soon as drilling is underway.

Garden Gully

Garden Gully is comprised of 15 granted prospecting licences and 2 granted exploration licences covering 78 square kilometres in the Doolgunna region, 20 kilometres from the town of Meekatharra.

Since commencing exploration in mid-2016, Thundelarra has drilled 85 reverse circulation holes for 13,721 metres and 2 diamond holes for 788 metres.

The recent addition of Crown Prince to the Garden Gully project is significant as it brings all the historical prospecting and production areas at Garden Gully into a single exploration project under one owner.

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Mon, 25 Sep 2017 13:37:00 +1000 https://www.proactiveinvestors.com.au/companies/news/184473/thundelarra-mobilising-diamond-drill-rig-at-crown-prince-184473.html
<![CDATA[News - Thundelarra closes in on drilling at Crown Prince ]]> https://www.proactiveinvestors.com.au/companies/news/184413/thundelarra-closes-in-on-drilling-at-crown-prince-184413.html Thundelarra (ASX:THX) is one step closer to drilling its recently granted Crown Prince tenement, which lies within the 100% owned Garden Gully gold project located in Western Australia.

The heritage survey has now been completed, which means once the programme of work is granted, a suitable drilling rig can be commissioned and mobilised to commence drilling.

Thundelarra plans to commence drilling with a diamond rig in order to maximise the amount of structural and geological data that can be generated from the work programme.

Drilling at Garden Gully is working towards defining a maiden resource.

Garden Gully

Garden Gully is comprised of 15 granted prospecting licences and 2 granted exploration licences covering 78 square kilometres in the Doolgunna region, 20 kilometres from the town of Meekatharra.

Since commencing exploration in mid-2016, Thundelarra has drilled 85 reverse circulation holes for 13,721 metres and 2 diamond holes for 788 metres.

The recent addition of Crown Prince to the Garden Gully project is significant as it brings all the historical prospecting and production areas at Garden Gully into a single exploration project under one owner.

Rights issue underway

Thundelarra is currently in the process of raising up to $4.23 million before costs through a 2 for 5 renounceable pro-rata rights issue.

The issue is attractively priced at $0.025 and includes a 1 for 2 free listed option exercisable at $0.05 and expiring on the 30th September 2019.

Funds raised will be used to progress drilling at the flagship Garden Gully Gold Project with a focus on extending the known mineralisation at the Lydia Prospect and drilling the Crown Prince prospect.

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Fri, 22 Sep 2017 14:38:00 +1000 https://www.proactiveinvestors.com.au/companies/news/184413/thundelarra-closes-in-on-drilling-at-crown-prince-184413.html
<![CDATA[News - Thundelarra registers the historically gold producing Crown Prince tenement ]]> https://www.proactiveinvestors.com.au/companies/news/183415/thundelarra-registers-the-historically-gold-producing-crown-prince-tenement-183415.html Thundelarra Ltd (ASX:THX) has now registered the Crown Prince tenement, known as Prospecting Licence P51/3009, in the name of Zeus Mining Pty Ltd, a wholly-owned subsidiary.

Crown Prince is located within the company's Garden Gully Project.

Historical records show the area produced 20,718 ounces at 21.7g/t gold, mainly from the Crown Prince lease, with Thundelarra recently acquiring the rights.

Next steps will be the response from the Native Title Claimant Group to add P51/3009 to the existing Heritage Agreement over the Garden Gully area.

READ NOW: Thundelarra raising funds to explore Garden Gully gold project

The recent addition of Crown Prince to the Garden Gully project is significant as it brings all the historical prospecting and production areas at Garden Gully into a single exploration project under one owner.

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Tue, 05 Sep 2017 13:06:00 +1000 https://www.proactiveinvestors.com.au/companies/news/183415/thundelarra-registers-the-historically-gold-producing-crown-prince-tenement-183415.html
<![CDATA[News - Thundelarra granted historically gold producing Crown Prince tenement ]]> https://www.proactiveinvestors.com.au/companies/news/183209/thundelarra-granted-historically-gold-producing-crown-prince-tenement-183209.html Thundelarra Ltd (ASX:THX) has now been granted the Crown Prince tenement, located within the company's Garden Gully Project.

Historical records show the area produced 20,718 ounces of gold at an average grade of 21.7 g/t, mainly from the Crown Prince lease, with Thundelarra recently acquiring the rights.

The addition of Crown Prince to the Garden Gully project is significant as it brings all the historical prospecting and production areas at Garden Gully into a single exploration project under one owner.

READ NOW: Thundelarra raising funds to explore Garden Gully gold project

In the meantime relevant documentation has been provided to the Native Title Claimant Group to add Crown Prince to the existing Heritage Agreement over the Garden Gully project area so that drilling can be started as soon as possible.

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Thu, 31 Aug 2017 13:46:00 +1000 https://www.proactiveinvestors.com.au/companies/news/183209/thundelarra-granted-historically-gold-producing-crown-prince-tenement-183209.html
<![CDATA[News - Thundelarra raising funds to explore Garden Gully gold project ]]> https://www.proactiveinvestors.com.au/companies/news/183064/thundelarra-raising-funds-to-explore-garden-gully-gold-project-183064.html Thundelarra Ltd (ASX:THX) is raising up to $4.23 million before costs through a 2 for 5 renounceable pro-rata rights issue.

The issue is attractively priced at $0.025, which is a 39% discount to the 30-day VWAP, and includes a 1 for 2 free listed option exercisable at $0.05 and expiring on the 30th September 2019.

The new funds will be used for drilling the wholly-owned Garden Gully Project in Western Australia.

This project covers circa 78 square kilometres in the Doolgunna region, located 20 kilometres north-west of the town of Meekatharra.

Phil Crabb, chairman, commented: "As your chairman and the major shareholder I intend to participate in this very attractively priced issue, and so do my fellow directors.

"We encourage all shareholders to take this opportunity to purchase new shares at a very attractive price at a time when we are about to move to the next stage at the exciting Garden Gully gold project.

"We see the potential for a lot of good news from exploration in coming months and this issue will give us the funds to ensure that we can carry out the drilling needed to hopefully deliver a maiden resource at Garden Gully."

Garden Gully

Records show the area produced 20,718 ounces of gold at an average grade of 21.7 g/t.

The project has supporting infrastructure including two operating gold treatment plants nearby.

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Tue, 29 Aug 2017 13:47:00 +1000 https://www.proactiveinvestors.com.au/companies/news/183064/thundelarra-raising-funds-to-explore-garden-gully-gold-project-183064.html
<![CDATA[News - Thundelarra to reveal capital raising details ]]> https://www.proactiveinvestors.com.au/companies/news/182952/thundelarra-to-reveal-capital-raising-details-182952.html Thundelarra Ltd (ASX:THX) is heading to market with a capital raising, and the ASX has granted the company a trading halt to prepare.

Thundelarra has an extensive portfolio which includes its Red Bore, which neighbours the DeGrussa deposit, and the Garden Gully Gold Project which has historical production at 21.7g/t gold.

The halt will remain in place until the opening of trade on Tuesday 29th August 2017, or earlier if an announcement is made to the market.

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Fri, 25 Aug 2017 09:24:00 +1000 https://www.proactiveinvestors.com.au/companies/news/182952/thundelarra-to-reveal-capital-raising-details-182952.html
<![CDATA[News - Thundelarra extracts value from Red Bore ]]> https://www.proactiveinvestors.com.au/companies/news/181170/thundelarra-extracts-value-from-red-bore-181170.html Thundelarra (ASX:THX) has successfully found a way to both extract value and advance its 90% owned Red Bore Copper-Gold Project located in Western Australia.

Looking back, after deep drilling diamond holes in mid-2016, the company demonstrated that Red Bore had potential to host VMS mineralisation but concluded that it was probably very deep.

This made cost-effective targeting and drill testing very challenging for a small exploration company that needs to manage its cash carefully.

What investors may not recall is that Thundelarra made it clear that the best next step was for it to wait to be approached by neighbouring Sandfire Resources (ASX:SFR).

During this waiting phase, the small 1,740-tonne copper and 650-ounce gold resource at Red Bore was considered to be worth little to no value by the market - Thundelarra had 90% of nothing.

Then the Sandfire approach came as expected…

While Thundelarra turned its focus to its emerging Garden Gully Project, the approach from Sandifre for the Red Bore Project came, as expected.

The deal done with Sandfire was subject to a pre-emptive right associated with the 10% owner of Red Bore, Mr W Richmond.

READ: Richmond exercises pre-emptive right

The approach by Sandfire has essentially forced an event to transpire that results in two key outcomes for Thundelarra.

Two key outcomes for Thundelarra…

Ultimately, Thundelarra previously owned 90% of an asset, being Red Bore, that the market valued at close to zero.

The difference today is:

1) Thundelarra has $1.65 million in cash in its bank account it didn’t have before; and
2) Is free-carried for at least $1.5 million worth of exploration over the next 18 months.

Red Bore is suddenly back in play…

The overall outcome is that the Red Bore project is back in play for Thundelarra and it retains a 90% interest in the project until at least 30,000 tonnes of copper has been identified.

Furthermore, if the neighbouring DeGrussa deposit is anything to go by, if 30,000 tonnes of copper is discovered at Red Bore, there is good potential for that number to grow significantly.

Not only does Thundelarra have $1.65 million cash in its bank account and committed expenditure to Red Bore, it may end up owning 15% of a 30,000+ tonne copper deposit.

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Thu, 20 Jul 2017 10:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/181170/thundelarra-extracts-value-from-red-bore-181170.html
<![CDATA[News - Thundelarra Ltd outlines pre-emptive right exercised for Red Bore ]]> https://www.proactiveinvestors.com.au/companies/news/181092/thundelarra-ltd-outlines-pre-emptive-right-exercised-for-red-bore-181092.html Thundelarra Ltd (ASX:THX) recently outlined that a farm-in agreement with Sandfire Resources NL (ASX:SFR) to explore at the Red Bore Project, subject to Thundelarra’s JV partner, Mr W Richmond, not exercising his pre-emptive right.

Thundelarra has received an executed acceptance of the Pre-Emptive Offer Notice, together with payment of $1,650,000, which constitutes exercise of Richmond’s pre-emptive right.

Red Bore (M52/597) is located adjacent to Sandfire’s operating DeGrussa copper-gold mine.

It is a granted Mining Licence with expiry on 05 November 2030, and is currently held 90% by Thundelarra and 10% by Mr W Richmond and is operated under a Joint Venture Agreement.

The effect of Richmond exercising his pre-emptive right is:

- Thundelarra has received $1,650,000 in cash (GST included);
- Richmond sole funds at least $1,500,000 on exploration over the next 18 months;
- Richmond can earn a further 75% interest by defining a JORC 2012 Resource of at least 30,000t of contained copper / copper equivalent;
- Richmond to sole fund all exploration through to definition of the resource described above and, while sole funding, to keep the tenement in good standing; and
- Thundelarra to be completely free-carried until production starts.

Thundelarra said that it will be advising all relevant parties, including the relevant Traditional Owners, of these events to ensure that all involved parties are aware of current developments.

Potential future steps

If Richmond satisfies the earn-in conditions, Thundelarra, if it chooses, may offer its remaining interest to Richmond at an independent valuation.

If that does not occur, Thundelarra will be free carried to production (in terms of cash outlay) with expenditures to be repaid from Thundelarra’s share of cash flow.

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Wed, 19 Jul 2017 09:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/181092/thundelarra-ltd-outlines-pre-emptive-right-exercised-for-red-bore-181092.html
<![CDATA[News - Thundelarra Ltd drills more evidence of a new gold discovery ]]> https://www.proactiveinvestors.com.au/companies/news/180645/thundelarra-ltd-drills-more-evidence-of-a-new-gold-discovery-180645.html Thundelarra Ltd (ASX:THX) has received assay results from the Battery Prospect within the 100%-owned Garden Gully Project located in Western Australia.

Results continue to show the Battery trend’s potential to host significant additional mineralisation to complement the gold mineralisation already identified at the neighbouring Lydia Prospect.
Results from the six reverse circulation holes and one diamond tail include 6 metres at 1.6 g/t gold from 125 metres depth.

Mineralisation is present along an 800-metre strike length at Battery, which is open along strike and at depth.

Each new phase of exploration results at Garden Gully is adding to the real possibility that the project can develop into a significant new gold discovery.


Drill result details

The holes drilled at Battery during this program comprised six reverse circulation (RC) holes for
1,030 metres and a diamond tail of 254 metres, which extended one of the RC holes.

Results include:

- 6 metres at 1.6 g/t gold from 125 metres;
- 5 metres at 1.0 g/t gold from 168 metres;
- 4 metres at 1.3 g/t gold from 178 metres; and
- 5.5 metres at 1.1 g/t gold from 276.6 metres.

The next program of work at Battery will be designed to evaluate the potential of this 800+ metre mineralised trend to add to the 500+ metre mineralised trend already identified at Lydia.

Garden Gully

The 100% owned Garden Gully project comprises 14 granted prospecting licences and 2 granted exploration licences.

This covers circa 78 square kilometres, located in Western Australia’s Doolgunna region located 20 kilometres north-west of the town of Meekatharra.

With the recent move to farm the Red Bore project out to Sandfire Resources NL (ASX:SFR), Thundelarra’s primary exploration focus moves to Garden Gully.

Prospects at Garden Gully include: Lydia, Battery, Crown, Crown Prince, Transylvania, Granite Well, NW Granite Well, Young and Ascuns.


Analysis

Battery’s emergence as a potential prospect to host gold mineralisation is significant given its proximity to the Lydia prospect, where gold has already been identified.

Furthermore, one of the more interesting takeaways from these results was that the mineralisation intersected in the deeper diamond tail hole was intersected 100 metres vertically below previous assays of 8 metres at 1.6 g/t gold.

This suggests that the gold mineralisation continues to depth.

Garden Gully continues to grow into a promising project for Thundelarra and is expected to be a source for further explored-based news flow moving forward.

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Tue, 11 Jul 2017 11:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/180645/thundelarra-ltd-drills-more-evidence-of-a-new-gold-discovery-180645.html
<![CDATA[News - Thundelarra extends gold mineralisation at Garden Gully ]]> https://www.proactiveinvestors.com.au/companies/news/179502/thundelarra-extends-gold-mineralisation-at-garden-gully-179502.html Thundelarra (ASX:THX) has received assays from drilling at the Lydia Prospect within the 100% owned Garden Gully Project located in Western Australia.

Recent drilling at Lydia has extended the known mineralisation and set the prospect up for the next stage of follow-up drilling to target an initial resource.

New intersections include 30 metres at 3.0 g/t gold from 105 metres depth.

Gold mineralisation has now been confirmed over a 500-metre strike length at Lydia, which is open to the north, the south and at depth.

Mineralisation has been found from near surface to over 240 metres vertical depth, indicating a theoretically open-pittable target.


Drill result details

This program at Lydia comprised 12 reverse circulation holes for 2,046 metres and one diamond tail of 329 metres.

Highlights include:

- 5 metres at 3.8 g/t gold from 97 metres;
- 30 metres at 3.0 g/t gold from 105 metres; and
- 8 metres at 2.9 g/t gold from 104 metres.

A total of 85 reverse circulation holes for 13,721 metres and 2 diamond holes for 788 metres have been drilled at Garden Gully to date.

When the assay results that are still pending have been received, the final evaluation of the data generated by this program can be collated.

The next aim is to delineate a zone of mineralisation at Lydia with sufficient rigour to allow an initial resource to be defined.


Garden Gully

The 100% owned Garden Gully project comprises 14 granted prospecting licences and 2 granted exploration licences.

This covers circa 78 square kilometres, located in Western Australia’s Doolgunna region located 20 kilometres north-west of the town of Meekatharra.

With the recent move to farm the Red Bore project out to Sandfire Resources NL (ASX:SFR), Thundelarra’s primary exploration focus moves to Garden Gully.


Analysis

Numerous gold-mineralised intervals from the drilling carried out to date at the Lydia prospect clearly demonstrate the potential that this area offers.

With the recent Sandfire deal at Red Bore set to allow Thundelarra to be free-carried through to a potential mining operation, Thundelarra is able to focus its resources on Garden Gully.

The Garden Gully gold project continues to shape up as a major new gold play.

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Tue, 20 Jun 2017 14:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/179502/thundelarra-extends-gold-mineralisation-at-garden-gully-179502.html
<![CDATA[News - Thundelarra agrees with Sandfire to advance Red Bore ]]> https://www.proactiveinvestors.com.au/companies/news/179424/thundelarra-agrees-with-sandfire-to-advance-red-bore-179424.html Thundelarra (ASX:THX) has reached an agreement with Sandfire Resources NL (ASX:SFR) to accelerate exploration at the Red Bore Copper-Gold Project located in Western Australia.

The parties have signed a letter agreement that will see Sandfire spend at least $1.5 million on exploration over 18 months.

Thundelarra will be free-carried through to mining while Sandfire can earn 75% by defining a JORC resource of at least 30,000 tonnes of contained copper or copper equivalent.

Phil Crabb, chairman, commented: “This transaction makes a great deal of sense for all parties.

“It allows Thundelarra to focus all its efforts and cash on continuing exploration at the exciting, wholly-owned Garden Gully gold discovery, while at the same time there will be significant exploration underway at Red Bore at no cost to Thundelarra.”


Red Bore

Red Bore is located on a granted mining licence adjacent to Sandfire’s operating DeGrussa copper-gold mine in the Doolgunna region of Western Australia.

Currently it is held 90% by Thundelarra and 10% by Mr W Richmond and is operated under a joint venture agreement.

It has JORC 2004 indicated and inferred resources totalling 1,740 tonnes copper and 650,000 ounces gold to ~140 metres from surface.


Key agreement terms

The agreement is subject to Thundelarra’s current joint venture partner who holds 10% of Red Bore not exercising his pre-emptive right.

Once this has been agreed, the earn-in agreement will start, which is estimated to be no more than 40 days away.

Key terms of the pending agreement include:

- Sandfire to issue $1.5 million shares to Thundelarra at an issue price equal to Sandfire’s 5-day VWAP;
- Thundelarra to provide all its Red Bore exploration data to Sandfire;
- Sandfire to incur a minimum of $1.5 million in exploration expenditure at Red Bore within 18 months;
- Sandfire may sole fund continued exploration indefinitely;
- Upon the definition of a JORC 2012  resource of at least 30,000 tonnes of contained copper metal and/or copper metal equivalent, Sandfire will have earned 75% equity in Red Bore; and
- Equity interests will then be Sandfire 75%; Thundelarra 15%; W Richmond 10% at which point a joint venture will be formed and Thundelarra will be free carried to mining in terms of cash outlay, with expenditure contributions funded by Sandfire on a non-recourse basis and to be repaid from Thundelarra’s share of cash flow.


Analysis

This agreement with Sandfire allows for accelerated exploration at Red Bore to advance the project to the next level.

Importantly, Thundelarra has the potential to be free-carried through to mining at Red Bore, allowing it to conserve cash and focus expenditure on Garden Gully.

Sandfire is a well-known ASX company that is responsible for one of Australia’s greatest discoveries and mine developments in DeGrussa.

Thundelarra remains convinced that Red Bore has hidden riches yet to be uncovered, and that Sandfire is the logical party to accelerate exploration.

Sandfire has a unique understanding of the local geology and pathfinders, based on their own development at DeGrussa.

Their Conductor 5 orebody, at circa 600 metres below surface, lies less than 200 metres from the north-west corner of Red Bore.

This could be the key to unlocking Red Bore and delivering value to Thundelarra’s longstanding and loyal shareholders.

Shares are currently trading 17% higher intra-day, currently priced at $0.053.

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Mon, 19 Jun 2017 13:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/179424/thundelarra-agrees-with-sandfire-to-advance-red-bore-179424.html
<![CDATA[News - Thundelarra to reveal joint venture agreement ]]> https://www.proactiveinvestors.com.au/companies/news/179347/thundelarra-to-reveal-joint-venture-agreement-179347.html Thundelarra (ASX:THX) has been granted a trading halt by the ASX, with its shares placed in pre-open.

Thundelarra requested the halt pending a joint venture agreement.

The halt will remain in place until the opening of trade on Tuesday 20th June 2017, or earlier if an announcement is made to the market.

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Fri, 16 Jun 2017 08:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/179347/thundelarra-to-reveal-joint-venture-agreement-179347.html
<![CDATA[News - Thundelarra expands Garden Gully with acquisition ]]> https://www.proactiveinvestors.com.au/companies/news/174167/thundelarra-expands-garden-gully-with-acquisition-174167.html Thundelarra (ASX:THX) has acquired prospecting licence 51/3009, currently under application, that was the main location of historical gold mining activities in the Garden Gully area in Western Australia.

The licence hosts significant gold mineralisation reported by previous explorers and will be a significant part of future Garden Gully exploration plans.

Historical diamond drilling data from 1986-87 includes 10.6 metres grading 13.69 g/t gold from 43 metres and 7.1 metres grading 23.47 g/t gold from 72.5 metres.

Phil Crabb, chairman, commented: “This acquisition completes my five-year long mission to aggregate all the significant landholdings in this under-explored and very exciting area.

“I believe it heralds the start of a great period for Thundelarra and Thundelarra shareholders.

“Once the tenement is granted, we will be able to start to unlock the riches we believe are hidden at the Crown Prince and at the other nearby tenements now under our control.”


Prospecting licence 51/3009

The licence, which will be known as the Crown Prince prospect, contains the historical Kyarra gold mine.

The consideration for the purchase is 3 million shares in Thundelarra for a value of $157,500 and a 2% net smelter return royalty on any gold produced from commercial mining operations on the tenement.

Upon granting of the licence, Thundelarra has also agreed to reimburse the seller for legal costs incurred in acquiring the tenement, up to a maximum amount of $125,000.

Historical diamond drilling results include:

- 4.10 metres at 3.83 g/t gold;
- 10.60 metres at 13.69 g/t gold;
- 4.25 metres at 5.72 g/t gold;
- 6.00 metres at 3.19 g/t gold;
- 7.10 metres at 23.47 g/t gold;
- 5.50 metres at 6.23 g/t gold; and
- 5.00 metres at 4.38 g/t gold.


Garden Gully background

Prior to this acquisition, the Garden Gully project, wholly-owned by Thundelarra, comprised 14 granted prospecting licences, 1 granted exploration licence and 1 exploration licence application.

This covers circa 65.5 square kilometres, located in Western Australia’s Doolgunna region located 20 kilometres north-west of the town of Meekatharra.

Since commencing exploration there in mid-2016, Thundelarra has drilled 57 holes for 8,710 metres in the first two phases of drilling.

Phase 3, a further 2,400 metres or more of reverse circulation drilling with the probability of up to 600 metres of diamond tails, is now underway, having started this week.

The results from the two completed drill program at Garden Gully continue to expand the potential for discovery at the project and support the company’s model for the potential existence of a significant body of gold mineralisation in the area.

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Fri, 03 Mar 2017 09:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/174167/thundelarra-expands-garden-gully-with-acquisition-174167.html
<![CDATA[News - Thundelarra sees golden opportunity at Garden Gully ]]> https://www.proactiveinvestors.com.au/companies/news/173651/thundelarra-sees-golden-opportunity-at-garden-gully-173651.html Thundelarra (ASX:THX) has now completed two drilling programs identifying high grade gold mineralisation at the emerging Garden Gully project located in Western Australia.

Drilling has intersected mineralisation including 7 metres at 24.5 g/t gold and identified four key prospects – Lydia, Transylvania, Battery and Granite Well.

Exploration to date has significantly grown the potential for a discovery to be made at Garden Gully, which has become Thundelarra’s exploration focus.

Preparation for the third phase of drilling is well advanced with commencement expected imminently.

The area that hosts the Garden Gully project has hosted several major gold mines over the years.


Garden Gully

The 100% owned Garden Gully project covers 65.5 square kilometres and is located in Western Australia’s Doolgunna region 20 kilometres northwest of the town of Meekatharra.

The initial scout program in mid-2016 focused on four prospects: Lydia, North Granite Well, Battery and Transylvania.

Significant drill intercepts from that program include:

- Lydia: 7 metres at 17.8 g/t gold from 11 metres;
- Lydia: 37 metres at 1.8 g/t gold from 71 metres including 12 metres at 4.0 g/t gold;
- Transylvania: 6 metres at 2.9 g/t gold from 103 metres including 2 metres at 6.1 g/t gold;
- Transylvania: 36 metres at 0.7 g/t gold from 49 meters including 8 metres at 1.7 g/t gold;
- Battery: 5 metres at 0.7 g/t gold from 60 metres; and
- North Granite Well: 31 metres at 0.32 g/t gold from 71 metres.

During the December quarter, 29 reverse circulation holes for 6,432 metres were completed as part of a Phase 2 program.

The first results from Lydia exceeded all expectations yielding:

- 80 metres at 1.9 g/t gold from 79 metres including 16 metres at 3.8 g/t gold; and
- 45 metres at 1.3 g/t gold from 215 metres including 14 metres at 2.2 g/t gold.

Furthermore, geological data gained from Phase 2 indicates that the Transylvania , NE Transylvania, Booty and Sabbath prospects appear to be associated and are now known collectively as Transylvania.


Analysis

The results from the two completed drill program at Garden Gully continue to expand the potential for discovery at the project and support the company’s model for the potential existence of a significant body of gold mineralisation in the area.

Drilling shows similarities to the geological setting hosting the Mount Magnet, Meekatharra and Andy Well gold deposits.

Exploration to date at Garden Gully is still early-stage and with the success so far demonstrating the project’s prospectivity, the third drilling program will be highly anticipated by the market.

Down-hole electromagnetic surveys have identified a strong, deep, potentially mineralised, off-hole conductor that represents a high priority target for follow-up drill testing.

Garden Gully is close to Meekatharra and nearby gold treatment infrastructure and for many years has only been lightly explored.

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Fri, 24 Feb 2017 09:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/173651/thundelarra-sees-golden-opportunity-at-garden-gully-173651.html
<![CDATA[News - Thundelarra results expand discovery potential at Garden Gully ]]> https://www.proactiveinvestors.com.au/companies/news/173089/thundelarra-results-expand-discovery-potential-at-garden-gully-173089.html Thundelarra (ASX:THX) has both intersected gold mineralisation and identified conductors through down-hole electromagnetic surveys at the Granite Well and NW Granite Well prospects within the Garden Gully gold project located in Western Australia.

Assays from the four holes drilled included highlights of 20 metres at 1.12 g/t gold from 40 metres depth.

Down-hole electromagnetic surveys have identified a strong, deep, potentially mineralised, off-hole conductor that represents a high priority target for follow-up drill testing.

These results continue to expand the potential for discovery at the Garden Gully project, where drilling at the Lydia prospect has intersected 80 metres at 1.9 g/t gold.

Thundelarra is focusing all its exploration efforts on this promising new discovery and project.


Garden Gully

The 100% owned Garden Gully project covers 65.5 square kilometres and is located in Western Australia’s Doolgunna region 20 kilometres northwest of the town of Meekatharra.

The initial scout program in mid-2016 focused on four prospects: Lydia, North Granite Well, Battery and Transylvania.

Significant drill intercepts from that program include:

- Lydia: 7 metres at 17.8 g/t gold from 11 metres;
- Lydia: 37 metres at 1.8 g/t gold from 71 metres including 12 metres at 4.0 g/t gold;
- Transylvania: 6 metres at 2.9 g/t gold from 103 metres including 2 metres at 6.1 g/t gold;
- Transylvania: 36 metres at 0.7 g/t gold from 49 meters including 8 metres at 1.7 g/t gold;
- Battery: 5 metres at 0.7 g/t gold from 60 metres; and
- North Granite Well: 31 metres at 0.32 g/t gold from 71 metres.

During the December quarter, 29 reverse circulation holes for 6,432 metres were completed as part of a follow-up program.

The first results from Lydia exceeded all expectations yielding:

- 80 metres at 1.9 g/t gold from 79 metres including 16 metres at 3.8 g/t gold; and
- 45 metres at 1.3 g/t gold from 215 metres including 14 metres at 2.2 g/t gold.


Latest drill results

The four reverse circulation holes drilled at the NW Granite Well and Granite Well prospects for 950 metres were designed to follow up supergene gold mineralisation intersected in the initial scout drilling program.

Gold mineralisation intersected includes:

- 20 metres at 1.12 g/t  gold from 40 metres including 4 metres at 2.66 g/t gold; and
- 4 metres at 2.57 g/t gold from 56 metres.

Down-hole electromagnetic surveys on three holes picked up a deep and strong sub-vertical off-hole conductor which has never been tested by earlier explorers.


Analysis

These results continue to expand the potential for discovery at the Garden Gully project and support the company’s model for the potential existence of a significant body of gold mineralisation in the area.

Drilling shows similarities to the geological setting hosting the Mount Magnet, Meekatharra and Andy Well gold deposits.

Thundelarra remains leveraged to near-term exploration news flow at Garden Gully with results from the remaining holes that tested the Sabbath and Ascuns prospects pending.

Significantly, exploration to date at Garden Gully is still early-stage and with the success so far demonstrating the project’s prospectivity, future drilling will be highly anticipated by the market. 

Garden Gully is close to Meekatharra and nearby gold treatment infrastructure and for many years has only been lightly explored.

Thundelarra finished the December quarter with $3 million cash and $357,000 of equity investments.

Outside of Garden Gully’s 11 prospects, the company has multiple prospective projects in its portfolio based in Western Australia.

The company also has the Allamber project located 180 kilometres from Darwin, Northern Territory, where a recent five hole diamond drilling program intersected massive sulphides featuring 9.25 metres at 1.21% copper.

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Tue, 14 Feb 2017 10:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/173089/thundelarra-results-expand-discovery-potential-at-garden-gully-173089.html