Proactive Investors - Run By Investors For Investors

Thundelarra to acquire gold project from Doray adjacent to Garden Gully Project

The acquisition will more than quadruple Thundelarra's prospective Murchison tenure.
Thundelarra to acquire gold project from Doray adjacent to Garden Gully Project
WA's Murchison province has produced more than 7 million ounces of gold

Thundelarra Ltd (ASX:THX) has signed a binding sale agreement to acquire the Abbotts gold exploration project from Doray Minerals Ltd (ASX:DRM) for 11 million Thundelarra shares.

Abbotts comprises 13 granted tenements that cover about 450 square kilometres, surrounding and abutting Thundelarra's Garden Gully Project.

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

Thundelarra chairman Phil Crabb said the acquisition of the exploration ground was extremely significant for the junior.

"It means that the company now controls what we believe to be the last large piece of remnant greenstone belt in the Yilgarn craton.

"History shows that these geological settings have the potential to deliver spectacular results.

"Systematic exploration - using the latest geophysical and exploration techniques to explore beneath the surface cover and test for possible repetitions of Crown Prince - means that there are exciting times ahead for our shareholders."


READ: Thundelarra serves up high-grade gold tasters at Garden Gully Project in Western Australia

The acquisition will put Thundelarra's combined project area at about 530 square kilometres, more than quadrupling the aggregate strike extent of the prospective target settings.

Abbotts and Gardeny Gully are about 20 kilometres northwest of Meekatharra in Western Australia's Murchison region and within 30 kilometres' trucking distance of two operational gold pants.

Thundellara will undertake a detailed review of all the Doray exploration data and incorporate the information into the current geological model that is has developed around the Crown Prince and other Garden Gully prospects.

READ: Thundelarra aircore results reveal visible supergene gold

Results from July 2018 at Garden Gully's Crown Prince prospect revealed 3.25 metres at 18.5 g/t gold from 107 metres and 11 metres at 4.9 g/t gold from 42 metres.

Crown Prince has a proven production history with 20,718 ounces grading 21.7 g/t gold mined historically.

Drilling at Crown Prince intersected grades of up to 66.5 g/t gold across multiple holes and showed that gold mineralisation went down to at least 245 vertical metres.

Notably, Thundelarra’s first drill program extended the Main Lode to at least 130 metres below the base of the old workings, with the high grades continuing at depth.

View full OAU profile View Profile

Ora Gold Ltd Timeline

Related Articles

January 31 2019
A maiden JORC resource is expected by June after the company drilled a 18.2-metre wide intersection grading 40.3% zinc.
October 20 2018
Montero Mining already has an attractive lithium portfolio in Namibia
January 22 2019
The company hopes to establish a nickel development on Cathedrals Belt, an exploration area it majority owns.

© 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