Thundelarra Limited (ASX:THX) has released much awaited assays from drilling at its Allamber copper-base metal project in the Northern Territory that has found more copper and high grade uranium mineralisation.
This has demonstrated that there is substantial scope to grow its Cliff South uranium prospect as well as areas for further follow-up.
Highlights from the assays include:
- Further copper mineralisation at the Ox-Eyed Herring area with a notable intersection of 11 metres at 0.62% copper from 96 metres including 4 metres at 1.34% copper in TAL102RC.
- Extension of wide, high grade uranium mineralisation at Cliff South with intercepts of 49 metres at 787ppm U3O8 from 58 metres including 17 metres at 1,286ppm U3O8 in TAL107RC and 17 metres at 974ppm U3O8 from 70 metres at Cliff South at TAL108RC.
These holes extended the mineralisation at Cliff South by 70 metres with the zone remaining open to the north and south while the grade increases at depth.
Thunderlarra added the second phase program testing the northern prospects of the Allamber project area has been finished though the first rains of the wet season prevented access to the Swamp Donkey prospect.
Relevant samples are being prepared for submission to the laboratory for assay and will be reported when received and evaluated.
The first phase drilling program was designed to further test several anomalous intercepts in the southern part of the project identified in previous drilling, with the aim of improving the understanding of the possible models for mineralisation in the area.
The Cliff South results were excellent, showing increased grade and along-strike extent of the known zone of uranium and copper mineralisation. This zone remains open to north and south.
The 17m at 0.15% copper in TAL108RC over the same interval that graded 974ppm shows that is substantial potential for significant mineralisation in this zone.
Further work will be carried out in the 2014 field season to continue evaluating the potential at Cliff South. There is also a need for deeper drilling to improve the understanding of the mineralising systems.
The four holes at the Ox-Eyed Herring, Brumby Gap and North Tarpon prospect area tested:
- Cinc anomalies at the granite-sediment contact;
- The possibility that theoretical conductors modelled from electromagnetic data collected from surface surveys and down-hole surveys of previously drilled holes could represent massive sulphides; and
- For possible repetitions of the previously identified Tarpon-style lode mineralisation (pyrite-pyrrhotite-chalcopyrite-quartz).
While the geophysical interpretation of the electromagnetic data indicating the presence of deep conductors could not be proven, the geological interpretation from the logging demonstrates the possibility of relatively flat-lying stacked quartz-sulphide lodes that do contain chalcopyrite.
Further work is needed to establish the density of such lodes and to assess whether they exist in theoretically commercial quantities and grades.
The three holes at Nipper gave encouragement in confirming anomalous copper-gold-tungsten in an overturned antiform with multiple reverse fault zones representing potential prospectivity. Again, follow-up work is required to assess fully if any commercial potential exists.
Present work programs are maintained at a basic level to ensure that expenditure commitments are met, ensuring the company is well placed to benefit from a potential recovery in 2014 in the price and market interest in the uranium sector.
Thundelarra's drilling results have clearly demonstrated that the Cliff South Prospect is a growing high grade uranium zone.
The widths and the high grade tenor are very promising indeed, including 49 metres at 787ppm (1.7lb/t) uranium from just 58 metres and including 17 metres at 1,286ppm (2.8lb/t) U3O8 and 0.06% copper from 78 metres to 95 metres and 17 metres at 974ppm.
That the zone remains open to north and south, with grade increasing at depth is a bullish point as is the anomalous copper intersected.
The drilling has shown increased grade and along-strike extent of the known zone of uranium and copper mineralisation.
Thundellara's market capitalisation of just under $9 million leaves Thundelarra leveraged to exploration results, more of which are due from the next phase drilling soon.
In addition, the company also holds the Little Mount Isa prospect in Western Australia where it had massive sulphide drill hits, giving it another strong card in its suit.
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