Thundelarra is pleased to report that six holes have been drilled in the inaugural 15 hole program at the Companys Ngalia Basin Project. Results to date have exceeded expectations with two of the six holes intersecting uranium mineralisation.
The initial program is a very broadly spaced traverse designed to aid interpretation of the geology below the Tertiary cover in a previously untested area of the basin. Positive results have been returned from within both the Mt Eclipse Sandstone and the overlying Tertiary sequence. Hole TNG002MD intersected a thick package of carbonaceous sandstone & conglomerates interbedded with red hematitic shales beneath a thin veneer of Tertiary cover.
This sequence is interpreted to be in a similar stratigraphic position to other known uranium occurrences in the basin, including the 30 million pound Bigrlyi deposit (EME/PDN/SXX joint venture).
The rocks have been altered to a reduced state, with the presence of abundant pyrite and carbonaceous material representing an excellent chemical trap with high potential to precipitate uranium from fluids.
Anomalous radioactivity was detected within a 5cm band at approximately 190 metres down hole. Spot readings with a hand-held XRF returned values of 439 ppm U3O8 and 499 ppm U3O8 respectively from this interval.
Hole TNG006MD intersected a broad zone of elevated radioactivity within the Tertiary from 112 to 123 metres. Selective XRF readings from within this zone returned values of 585 ppm U3O8 and 1,208 ppm U3O8 at 113 metres and 257 ppm U3O8 at 120 metres.
These results are highly significant as it is the first indication of Beverley/Four Mile style sandstone-hosted uranium mineralisation in the Ngalia Basin. This style of mineralisation can be amenable to in-situ recovery (ISR) techniques which have significant cost advantages over conventional mining.
Hole TNG006MD is continuing and further zones of elevated radioactivity have been intersected within the underlying Mt Eclipse Sandstone at approximately 200 and 220 metres. Note that the spot XRF readings from TNG002MD and TNG006MD are selective and not representative of the broader interval and that the precision of the XRF in this application requires validation. Samples have been collected from both holes for chemical assay and down-hole gamma logging will be carried out on all holes.
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