Thundelarra Ltd (ASX:THX) has completed its acquisition of the 450-square-kilometre Abbotts Gold Project from Doray Minerals Ltd (ASX:DRM).
The acquisition materially expands Thundelarra’s Garden Gully Project acreage in WA to about 530 square kilometres, more than quadrupling the aggregate strike extent of the target.
It also represents the first recorded time the majority of this remnant Abbotts greenstone belt has been held by a single company, enabling the use of modern exploration techniques across the entire geological setting.
The transaction includes all exploration data Doray has obtained from the project, which will be collated with Thundelarra’s information and interpretations to better understand the mineralised system and its controlling structures.
Thundelarra believes the collated data enhances the potential for discovery at Garden Gully, the only substantial portion of greenstone belt in the immediate Meekatharra region that does not already host a substantially-sized gold mine.
The results of both Thundelarra and Doray drilling indicate the presence of a gold-bearing system, with Thundelarra having identified several targets for immediate follow-up.
Review of Doray’s data will add further targets that will form part of exploration drilling planned for early 2019.
Abbotts surrounds and abuts Thundelarra's Garden Gully Project
While multiple prospects have revealed gold mineralisation at Garden Gully, the company’s focus is on the Crown Prince and Lydia prospects.
A recent 17-hole drilling program comprising 11 reverse circulation (RC) holes and six RC pre-collars with diamond tails at Crown Prince indicated high-grade mineralisation.
The program tested the area north of the main pit where the project’s main lode crops out and gold mineralisation was intersected in 13 of 17 holes drilled.
Results included: 3.25 metres at 18.5 g/t gold from 107 metres; 6 metres at 4 g/t from 37 metres; 11 metres at 4.9 g/t from 42 metres; and 5 metres at 3.6 g/t from 24 metres.
Crown Prince had previously delivered intersections as high as 4 metres at 16.5 g/t from 166 metres and 8 metres at 22.3 g/t from 259.2 metres.
Garden Gully has nearby infrastructure including two operational gold plants: Westgold Resources Ltd’s (ASX:WGX) 3.1-million-tonne per annum Bluebird plant and the 300,000-tonne per annum Andy Well plant, previously owned by Doray but on care and maintenance since November last year.