STTCOMP THX, FA LONG
On 21 September 2017, THX raised funds by the Rights Issue and Additional Placement total approximately $5.215 million (before costs). -
Within which its Director chip in $500,000 by himself @ $0.025 per share rights issue. (a 2 for 5 renounceable rights issue)
Funds raised will be used to progress drilling at the flagship Garden Gully Gold Project which is located about 15 kilometres north-northwest of the town of Meekatharra in Western Australia. The drilling will focus on extending the known mineralisation at the Lydia Prospect with a view towards defining an initial resource; on drilling the Crown Prince prospect ； on advancing the other promising prospects within the Project area; and for working capital and the costs of the offer.
On 25th Sep THX ann
The Department of Mines, Industry Regulation and Safety (“DMIRS”) has approved the Programme of Work application for planned exploration at P51/3009, the Crown Prince licence that forms an important part of our Garden Gully project.
A diamond drilling rig is now being organised to mobilise to site to commence drilling. It is anticipated that triple tube coring will be carried out from surface in order to maximise core recovery and thus generate as much structural and geological data as possible. The detailed structural data that can be obtained from diamond drill core is not available from reverse circulation drilling.
A clear understanding of the geology and structures controlling the mineralisation at Crown Prince is of paramount importance in defining the geometry and extent of the mineralisation present.
Thundelarra will advise the market as soon as drilling is underway.
