Proactive Investors - Run By Investors For Investors

Thundelarra drills out visible gold at Crown Prince

Two drilling programs are in progress at Lydia and Crown Prince.
speck of visible gold in the drill core from Crown Prince
The company's cash position in early October was $7.3 million

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.

View full THX profile View Profile

Thundelarra Ltd Timeline

Related Articles

Colluli on a map is about 75 kilometres from Eritrea’s eastern Red Sea coast
January 18 2019
The company’s share price gained on the London exchange this week.
Drilling activity at Kharmagtai Copper-Gold Project in Mongolia
January 14 2019
The now validated data and mineral resource update will be used in an upcoming scoping study.
A drill rig
January 18 2019
The Finniss lease also hosts the Grants deposit, which will host the project's first mine.

© 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