Thundelarra (ASX:THX) has confirmed previously identified anomalies and highlighted a number of other potential drill targets for follow-up at its Curara Well and Red Bore Project tenements in Western Australia's, Doolgunna District.
The company has also completed a number of Audio-Magneto Telluric lines that could materially alter the regional exploration focus at Curara Well.
Apart from Sandfire's DeGrussa discovery, Thundelarra is the only company to have made new, high-grade, consistent copper mineralisation intercepts in the district.
Aeromagnetic and radiometric survey
The low level aeromagnetic and radiometric survey confirmed the main targets at Red Bore.
Further follow-up investigation of these anomalies, and of the associated copper-gold-silver mineralisation already identified at Gossan and Impaler, will be the objective of the next phase of reverse circulation drilling currently being organised.
Thundelarra's conceptual mineralisation model at Red Bore remains geologically valid and continues to deliver the only new, high grade, consistent copper mineralisation intercepts in the Doolgunna local region since Sandfire's discovery of the nearby DeGrussa mine.
The company is seeking a significant deep-seated source of the copper, gold and silver mineralisation found in the "pipes" at Gossan.
Such a source could conceivably be related to the nearby DeGrussa deposits, the source of which is as yet unknown.
The survey results at Curara Well identified numerous anomalies, a number of which may represent rock types similar to those hosting the Degrussa and Gossan mineralisation.
Subsequent "ground truthing" (geological mapping, surface sampling, and hand-held XRF analyses of material at the anomalies) has helped to establish which are targets for follow-up drill testing.
Ground access through the statutory process is being progressed vigorously and these targets are being prioritised and prepared for drill testing.
Thundelarra plans to start drilling in late April / early May, initially with a program of aircore drilling, which will be followed up where appropriate by deeper reverse circulation drilling.
The ground truthing identified a number of areas where brecciation was observed, which support's the company's conceptual model for the Curara Well project.
The results of the drilling will allow it to refine the model further.
A number of Audio-Magneto Telluric lines were also completed over our ground. The results and their significance will be reported in more detail in a subsequent announcement.
The initial conclusions are that the results support Thundelarra's previously announced concept that the granite exposures mapped at surface over much of Curara Well may in fact be "over thrust" sheets of granite.
If this is indeed the case, then the company's theory is that packages of the rocks that host the DeGrussa and Red Bore mineralisation may exist beneath this surface veneer of granite in the areas near the Jenkins Fault Zone.
This is a very exciting concept that, if proven, could materially alter the regional exploration focus. Thundelarra's Curara Well tenement covers a significant area that would then be a major target.
In February, drilling delivered high grade, broad widths of copper mineralisation from Red Bore.
- 21 metres at 5.3% copper, 1.2g/t gold, 7.0g/t silver from 50 metres in hole TRBC077;
- 68 metres at 1.9% copper, 1.0g/t gold, 3.8g/t silver from 26 metres in hole TRBC080, including 7 metres at 5.0% copper, 0.5g/t gold and 10.8g/t silver from 87 metres; and
- 5 metres at 10.4% copper, 0.50g/t gold, 11.0g/t silver from 59 metres in hole TRBC081.
Mineralisation is still open at depth below 94 metres vertical from surface.
Thundelarra's work program at Red Bore and Curara Well is unpeeling more targets for exploration.
Thundelarra is searching for that major deposit, a significant deep-seated source of the copper, gold and silver mineralisation found in the "pipes" at Gossan, which may be related to the nearby DeGrussa deposit.
At any rate, on current plans drilling could commence at Doolgunna in late April / early May which would be the start of an exciting and closely watched program.
Not least of which Thundelarra is the only company to have intersected new, high-grade, consistent copper mineralisation in the same district as the DeGrussa discovery.
Thundelarra is also fully funded for 2015 exploration program at Red Bore and Curara Well with $6.45 million in cash as at 31st December 2014 providing fuel for the exploration program ahead.
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