nice article...especially part about grades..THUNDELARRA...

nice article...especially part about grades..

THUNDELARRA EXPLORATION Thundelarra Exploration (ASX:THX) has been getting plenty of support in the rising resources market of late, on the strength of its appeal as an asset play. Its 40 per cent share of the currently mothballed Copernicus nickel mine and its $19 million stake in iron ore junior UMC ensured that.

So isn't it a nice delight for shareholders that the group's other key focus, uranium exploration in the Northern Territory's Pine Creek region, is adding to the story?

Another super high-grade uranium hit at the Thunderball prospect put a rocket under the group's share price on Friday. By the close of trade, it was 10¢ or 29 per cent stronger at 44¢ a share.

The hits were high-grade all right. Best results included 15 metres grading 1.5 per cent uranium - including one metre at 20.3 per cent uranium - and 4.5 metres at 11 per cent uranium (visual estimate only).

In the uranium exploration game, mineralisation is usually reported in parts per million. Anything more than 500 parts per million (0.05 per cent) is considered interesting, even if it all seems a plot to make loads of low-grade stuff stand out.

Thunderball's high-grade hits are off the scale in parts-per-million measure. No wonder the stock went for a bit of a trot. But it is early days at Thunderball; way too early to say anything more than the results are interesting.

cheers!