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  • Thundelarra To Progress Highly Prospective Red Bore Prospect  0 comments
    Nov 20, 2013 12:52 AM

    Thundelarra (ASX:THX) is in talks on the best way to progress the Red Bore prospect (M52/597), located 500 metres southeast of Sandfire Resources' (ASX:SFR) operating DeGrussa copper-gold mine in Western Australia.

    This comes after it was advised that no appeal has been lodged in relation to the Supreme Court's recent decision in favour of its earn-in of a 60% interest in the project.

    It will now continue with its endeavours to reach agreement with Bill Richmond as to the best way to progress Red Bore and to resolve the issue of costs awarded to Thundelarra.

    Thundelarra has spent in excess of $3 million exploring the tenement in the search for possible extensions to or repetitions of the DeGrussa style of mineralisation.

    Red Bore is also 200 metres from the Conductor 5 ore body. The Mining Lease on which the Red Bore prospect is located covers 2 square kilometres.

    Previous drilling included 17 metres at 11.7% copper & 1.73g/t gold from 29 metres in TBRC005.

    In May 2012, Thundelarra announced a maiden JORC resource for the mineralisation that it had defined between 30 metres and 140 metres vertical depth on the tenement.

    The resource represents the mineralisation that exists at Red Bore from surface to a vertical depth in the order of 300 metres, leaving potential for mineralisation at greater depths.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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