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Thundelarra enters June quarter with strong cash position to fund drilling

Phase 6 drilling underway is targeting a maiden resource at Crown Prince and Lydia.
australian cash notes
Assays are pending for the recently completed 274-hole aircore program

Thundelarra Ltd (ASX:THX) completed the March quarter and has therefore entered the current June quarter with $3.68 million in cash and $0.2 million in equity investments.

Funds will go towards phase 6 drilling underway focused on the Crown Prince prospect within the 100% owned flagship Garden Gully Gold Project in Western Australia.

One reverse circulation (RC) rig and one diamond rig are testing for extensions of high-grade gold mineralisation at the Main Lode and Northern Lode.

READ: Thundelarra focused on recommencing high-grade gold mining at Garden Gully

The next phases of work are focused on advancing the Crown Prince and Lydia prospects towards a maiden resource.

The high grades intercepted at Crown Prince such as 8 metres at 22.3 g/t gold make it a compelling target.

Aircore drilling to continue testing emerging prospects

Thundelarra will also continue to evaluate untested parts of the extensive Garden Gully project area for further repetitions of the structures and mineralisation settings identified to date.

The approach will be a program of aircore traverses to test below the thin veneer of transported cover.

The evidence so far continues to point towards these individual prospects comprising elements of a much larger mineralising system at depth.

Assays pending for recently completed 274-hole aircore program

Recently, a 274-hole, 14,025-metre aircore drilling program was completed.

The program tested for new near-surface extensions of mineralised structures.

Samples have been submitted for laboratory analysis and results will be reported when available.

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