Thundelarra Ltd (ASX:THX) has completed its diamond drill program at the 90% owned Red Bore project located in Western Australia.
This follows a recently completed reverse circulation drill program at Red Bore and a separate drill program at the nearby Garden Gully gold project.
Assays from all three programs are now pending.
Results from the Garden Gully drilling are expected shortly. The campaign was following up a recent 7 metres at 24.5 g/t gold intersection.
The drilling at Red Bore was targeting volcanogenic massive sulphide (VMS) systems, similar to the nearby recent Monty massive sulphide joint discovery by Talisman Mining Ltd (ASX:TLM) and Sandfire Resources Ltd (ASX:SFR).
Follow-up programs will be designed as necessary to continue testing any new targets identified.
Red Bore copper gold project
The Red Bore project is 90%-owned by Thundelarra and is a two square kilometre granted mining licence located in Western Australia’s Doolgunna region.
Primary copper sulphide has been drilled at Red Bore including 7.05 metres at 28.4% copper, 1.3 g/t gold, 32.2 g/t silver, which has been followed up by intercepts including 15.6 metres at 15.2% copper and 16 metres at 9.0% copper.
Red Bore's key prospects are Impaler, Gossan and Jaspilite and the project is the company's prime exploration project.
Red Bore drilling
This diamond drilling program consisted of two holes for 1,361 metres.
One hole was drilled 907 metres deep below the Gossan prospect to test a deep gravity anomaly and a second hole of 454 metres was drilled below the Impaler prospect.
Down-hole electromagnetic surveys were carried out on both holes after drilling.
A separate seven hole reverse circulation program was completed yesterday, also at Red Bore.
Garden Gully drill results expected
Garden Gully gold prospect drilling results are being collated.
Results will provide further context for the excellent result of 7 metres at 24.5 g/t gold reported in late July.
Plans are also progress to commence investigation of the White Well prospect where historical rock chips recorded gold grades of up to 1,281 g/t gold.
Analysis
With three drill programs now complete, Thundelarra is leveraged to near term exploration news that could potentially act as share price catalysts.
The Garden Gully results are expected first, providing commodity exposure to gold, then to be followed by news flow from the drilling at Red Bore targeting VMS style mineralisation.
Red Bore is located less than 1 kilometre from Sandfire’s operating DeGrussa copper-gold mine.
The area is currently a centre of exploration activity, with Thundelarra’s drilling at Red Bore; Sandfire drilling to the north and east; and RNI NL (ASX:RNI) drilling to the south.
At the Garden Gully project, visible gold in drill chips was reported and previous assays had delivered high grade gold mineralisation.
Garden Gully is a proven gold bearing area with historic production of 21,000 ounces at 21 g/t gold.
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