A good summary by the Ferret!!! THX really is a screaming BUY!!!
JR
DRILLING RESULTS RETURN SIGNIFICANT URANIUM MINERALISATION
Sydney - Thursday - December 8: (RWE Aust Business News)
********************************************************
OVERVIEW
********
Thundelarra Exploration (ASX:THX) reports that drilling at the
company's Allamber project in the Northern Territory has intersected
significant uranium mineralisation over extensive widths.
A four-hole, 583-metre reverse circulation drilling program was
conducted at the Cliff South prospect to follow up significant uranium
intercepts from holes drilled during the 2010 field season.
Results included:
* Hole TAL053RC V 38 metres at 527 ppm U3O8 including 9 metres at
1,457 ppm U3O8;
* Hole TAL062RC V 42 metres at 611 ppm U3O8 including 8 metres at
1,579 ppm U3O8;
* Hole TAL063RC V 21 metres at 682 ppm U3O8 including 9 metres at
1,055 ppm U3O8;
* Mineralisation remains open along strike and down dip; and
* Extensive zones of highly anomalous copper also present.
Holes TAL053RC and TAL062RC were drilled to test for a down dip
extension of the uranium mineralisation intersected in holes TAL013RC (10
metres at 458 ppm U3O8) and TAL032RC (9 metres at 440 ppm U3O8)
in 2010.
Both of the latest holes intersected significantly broader widths
of uranium mineralisation with higher average grades.
The mineralisation is hosted within a carbonaceous metapelite
(metamorphosed black shale) and appears to be spatially related to
abundant intrusive granitic dykes.
The cross-section at the left shows a 20 to 25-metre true width,
near vertical dipping mineralised body
Holes TAL063RC and TAL064RC drilled 40 metres to the north and
south of Section A-B, also intersected significant uranium
mineralisation, defining a mineralised body that remains open along
strike and down dip.
Two additional holes were also drilled at the Lucas prospect,
located approximately 350 metres southwest of Cliff South.
The holes were designed to test the southern extension of a
mineralised zone intersected in the 2010 holes TAL025RC (12 metres at 328
ppm U3O8) and TAL035RC (11 metres at 405 ppm U3O8 and 12 metres at 353
ppm U3O8).
Both 2011 holes returned significant uranium mineralisation.
Further work is now required to improve understanding of the extent and
attitude of this mineralisation.
All six holes drilled at the Cliff South and Lucas prospects also
intersected zones of highly anomalous copper.
The association between the uranium and copper in this region is
not fully understood, but may be related to nearby granitic plugs
recently interpreted from a detailed ground gravity survey.
Upon receipt of final assays for the second phase of drilling at
the Hatrick prospect, all copper results from the recent drilling
programs at Allamber will be compiled and reported.
Initial assay results from drilling at the Priscilla gold
prospect are also expected to be available in the near term, with assays
from drilling currently underway at the Pyramid base metals project
likely to be received early in the new year.
SHARE PRICE MOVEMENTS
*********************
Shares of Thundelarra yesterday rose 2c to 17c. Rolling high for
the year is 78.5c and low 14.5c The company has 154.8 million shares on
issue with a market cap of $26.32 million.
On September 30, the Thundelarra Exploration Board elected Mal
Randall as chairman of the company.
He has extensive corporate and commercial experience within the
resource sector and has held the position of chairman and director of
several ASX-listed companies.
Mr Randall has been an independent non-executive director of
Thundelarra since 2003 and is currently also on the board of Iron Ore
Holdings Ltd, Matilda Zircon Ltd (chairman), Summit Resources Ltd
and Royal Resources Ltd.
Mr Randall replaced Philip Crabb who had been chairman since
1998.
BACKGROUND
**********
Thundelarra Exploration joined the ASX list on March 22, 2001.
The company is primarily focused on uranium exploration in the
Northern Territory.
It has extensive exploration tenure in the Northern Territory's
Pine Creek and Ngalia Basin regions where the company has made a number
of significant uranium discoveries.
Exceptionally high-grade mineralisation has been identified at
Hayes Creek with drilling returning assays of up to 20.3pc U3O8.
In the Ngalia Basin, Thundelarra has discovered a major
uranium-bearing paleochannel system demonstrating potential to host
significant scale deposits with characteristics favourable for in-situ
recovery.
The company has also discovered significant copper mineralisation
in the Pine Creek region and has a number highly prospective gold
targets.
In Western Australia, Thundelarra controls 11 tenements in the
Doolgunna region totalling 1,500 square kilometres, including ground
immediately along strike from Sandfire Resources's DeGrussa deposit.
Recent drilling by Thundelarra has intersected significant high
grade copper-gold mineralisation.
The company also retains substantial base metals exploration
tenure in the East Kimberly and a 40 per cent interest in the Copernicus
nickel sulphide mine.
Thundelarra is well funded and is aggressively exploring its key
projects with the aim of progressing its discoveries through to
commercial production.
ENDS rx
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