Proactive Investors - Run By Investors For Investors

Thundelarra begins drilling for gold at the Crown Prince prospect

The company's objective is to gain a clear understanding of the geology.
Thundelarra West Australian Project Portfolio Map
Historical gold production at Garden Gully totalled 21,000 ounces

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.

View full THX profile View Profile

Thundelarra Ltd Timeline

Related Articles

Map of McDermitt Lithium Project in the US
November 20 2018
An exploration target range has been established for the McDermitt project in the US.
First ore is loaded at Edna Beryl mine
January 21 2019
Emmerson sold Edna Beryl to Territory but will get 12% of gold ore produced.
November 24 2018
Freeport can earn into the two licences, which are within the southern portion of the Timok Magmatic complex

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use