Ann: Garden Gully Exploration Status Update, page-2

GG update

9 December 2016
Thundelarra Limited
Thundelarra recently completed follow-up drilling at Garden Gully to test further the exploration prospects identified in the initial 28-hole scout drilling programme carried out mid-year. This follow-up programme comprised 29 holes for a total advance of 6,432m, testing nine new prospect targets. Over 1,000 samples were submitted to the laboratory for assay. Results are pending and, once received, will be reported as soon as practicable in the New Year.
Figure 1. Garden Gully Prospects hosting follow-up drill targets. Young and Crown not tested in this follow-up programme. An enforced suspension of drilling due to mechanical issues after the first six holes were drilled at Lydia allowed samples from those holes to be brought to Perth and submitted for assay. The exceptional results from those first holes (80m @ 1.9g/t Au including 16m @ 3.8g/t Au) were reported to the market on 03 November 2016.
Follow-up drilling at Lydia will be carried out in the first quarter of 2017.
GARDEN GULLY : EXPLORATION STATUS UPDATE
THUNDELARRA LIMITED ASX RELEASE 19 December 2016
Page | 2
A brief summary of the targets tested in this programme follows (see Figure 1 for prospect locations and Figure 2 for the regional setting of the Garden Gully Project).  Lydia: inferred target zone in excess of 700m long. Extensive gold mineralisation including high grade intervals. Refer ASX announcements 13, 14 September and 03 November 2016.  Booty: multiple old workings over an inferred strike length of about 300m north-south extent. Shear-hosted gold anomalies within mafics.  Transylvania: shear-hosted gold within metabasalts over a strike length of about 120m identified to date. Open down dip and along strike to both north and south.  Sabbath: interpreted to be a possible extension to the Transylvania structure, about 1,500m to the south-southwest.  NE Transylvania: strong chargeable and magnetic feature warrants testing.  Battery: two parallel strong chargeable features about 200m apart over a strike extent of about 800m identified to date. Strong gold and arsenic anomalism. Gold noted at contact of black shales to the east and felsic volcaniclastics to the west.  North Granite Well: demagnetised shear zone about 800m long located beneath mafic schists. Warrants more detailed investigation.  NW North Granite Well: strong chargeable feature anomalous in gold (31m @ 0.32g/t) with a strike extent of about 800m identified to date.  Ascuns: anomalous base metals (copper and zinc) in black shales. Several MLTEM and IP anomalies along a north-northeast trend of more than 4 kilometres strike extent. Main target is the lower black shale package. Garden Gully, wholly-owned by Thundelarra, comprises 14 granted Prospecting Licences, 1 granted Exploration Licence, and 1 Exploration Licence Application covering about 65.5km2 located in Western Australia’s Doolgunna region (Figure 2), about 20km north-west of Meekatharra.