Thundelarra (ASX:THX) will follow up the promise received from earlier drilling at the Sophie Downs near Halls Creek prospect that intersected significant zinc mineralisation.
In August 2013 and early 2014, drilling hits at the East Kimberley prospect included: 13 metres grading 4.6% zinc including 6 metres at 8.4% zinc.
A multipurpose rig, capable of both diamond and reverse circulation drilling, is being used for the drill program of nine holes totalling approximately 1,500 metres.
This follows re-evaluation of historical work conducted by both Thundelarra and a number of other previous explorers resulted in new theoretical models that complement the known geology, adding to the potential of the Ilmars and Little Mount Isa prospects.
Drilling will have three objectives:
- To test at Little Mount Isa for down-plunge extensions of the massive zinc sulphide mineralisation discovered and reported by Thundelarra in 2013 and 2014.
- To test the graphite mineralisation known to occur both locally at Little Mount Isa and regionally in the vicinity of the Halls Creek Fault Zone;
- To test new theoretical models at Ilmars. The Ilmars prospects have yielded numerous mineralised occurrences and drill intercepts for previous explorers, none of which could be translated to a commercial occurrence.
Drilling will also satisfy statutory expenditure commitments needed to keep the projects in good standing.
Sophie Downs (Exploration Licence E80/3673) covers an area of about 27 square kilometres and contains two principal prospects - Ilmars and Little Mount Isa.
Ilmars has been the subject of a substantial amount of historical work by a number of companies.
Drilling has delivered plenty of "smoke" but to date no intercepts have been reported with potentially economic widths and grades.
Thundelarra's best intercept was 24 metres at 2.05% zinc, 0.38% copper, 0.25% lead and 11 grams per tonne silver from 75 metres in hole TAXR6094.
By comparison, Little Mount Isa has been poorly explored.
Thundelarra's best results have been 13 metres at 4.6% zinc from 52 metres in hole TSDRC06; and 12 metres at 4% zinc from 54 metres in hole TSDRC05.
These were reported on 20 August 2013 and were subsequently followed up by 8 metres at 4.76% zinc from 41 metres in hole TSDRC07 reported on 19 February 2014.
Drilling at Sophie Downs will follow up on previous drilling that intersected 13 metres at .6% zinc including 6 metres at 8.4% zinc at the Little Mount Isa prospect.
Thundelarra will also test its new theoretical models at Ilmars as well as potential for graphite mineralisation known to occur both locally at Little Mount Isa and regionally.
The company had $5 million in cash as at 30th June 2015. This excludes equity investments worth about $117,000 as well as settlement of the final $900,000 tranche from the sale of the Hayes Creek Uranium assets that is due by 30th October 2015.
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