Thundelarra Limited (ASX: THX) has provided an update on the strategically positioned Curara Well project, which is located 15 kilometres east-north-east of Sandfire Resources' (ASX: SFR) producing DeGrussa copper and gold mine in the Doolgunna region of Western Australia.
Curara Well is located on Thundelarra’s 100%-owned Exploration License E52/2402, with the company now having an improved understanding of the local geology and structural controls following three diamond holes - which covered 394 metres.
Thundelarra said that core analysis confirms possible existence of a hydrothermal vent, with a prospective target at the intersection of cross-structure with the Jenkins Fault - with this potential feeder vent requiring testing, with discussions underway to obtain a Heritage Clearance survey.
Red Hill drilling to test near 4m at 229g/t gold
In other Thundelarra news, the company will commence drilling programs in the Northern Territory at both its Red Hill Gold Prospect in the Hayes Creek Project area, and at its Allamber Project in the Pine Creek Area.
At Red Hill the program will start in around a week, and there will be initially three holes drilled to follow-up the bonanza 4 metres at 229g/t gold (7.4 ounces of gold per tonne) drilled by Thundelarra in 2011. There may be follow-up drilling depending on results.
Over at Allamber, up to ten drillholes is planned to be carried out later this month testing the skarn replacement style base metal targets, and the Tarpon-style sheeted quartz-sulphide veining - which was identified in 2012.
Thundelarra had $1.8 million in cash at the end of March 2013.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.