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.
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.