Proactive Investors - Run By Investors For Investors

Thundelarra drills second hole with visible gold at Crown Prince

Shares increased 45% intra-day to close the day priced at $0.032.
visible gold in drill core
Two drilling programs are in progress at Lydia and Crown Prince

Thundelarra (ASX:THX) has intersected multiple occurrences of visible free gold in another diamond hole at the Crown Prince Prospect within the Garden Gully Gold Project in Western Australia.

This visible gold occurs across a 5.5-metre interval from 259.3 metres depth in diamond hole TGGRCDD110 and follows the recent visible gold witnessed in hole TGGDD090.

READ NOW: Thundelarra drills out visible gold at Crown Prince

The discovery of free gold in two of the holes drilled to date at Crown Prince is significant and bodes well for the rest of the drilling campaign currently underway.

Tony Lofthouse, CEO, commented: “Finding visible free gold in fresh drill core from within the primary zone is uncommon and so this is highly significant for the potential of the Crown Prince prospect.

“The presence of visible free gold will generally indicate high gold grades, so the core will be cut, sampled and submitted for laboratory assays as soon as possible”.

Six occurrences of free gold observed

Visible free gold has been observed six times in the core from drill hole TGGRCDD110 and clearly shows that the gold is separate from the sulphides.

The possibility that commercial mineralisation is present at Crown Prince is significantly enhanced by the presence of free gold in multiple locations below the historical workings.

The recent hole showed that free gold occurred at 110 metres vertical depth and this new hole now also shows free gold occurs at 245 metres.

The current drilling aims to better understand the geology and structures controlling the mineralisation, which in turn will allow Thundelarra to target effectively for extensions to that mineralisation.

Drilling continues and assays remain pending.

Garden Gully Gold Project

Garden Gully is comprised of 15 granted prospecting licences and 2 granted exploration licences covering 78 square kilometres in the Doolgunna region, 20 kilometres from the town of Meekatharra.

Since commencing exploration in mid-2016, Thundelarra has drilled 85 reverse circulation holes for 13,721 metres and 2 diamond holes for 788 metres.

Two drill programs are currently underway, the first is the 3,000-metre diamond program at Crown Prince.

The second is a 3,500-metre reverse circulation drilling program at the Lydia Prospect within the Garden Gully Project which aims to define a maiden JORC resource by early 2018.

View full THX profile View Profile

Thundelarra Ltd Timeline

Related Articles

Boardroom photo
September 27 2018
Ian Hobson has more than 30 years professional accounting experience with commercial roles in Australia, the UK and Canada.
mine
August 01 2018
Tungsten prices are on the rise and construction is proceeding apace at Barruecopardo
electric car
July 20 2018
Commissioning at Sonora is intended for the first-quarter of 2020
Copyright © Proactiveinvestors.com, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use