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Thundelarra Ltd.
Summary
| Project: | Garden Gully | |
|---|---|---|
| Deposit: | Lydia | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 11/3/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 3-11-2016: Thundelarra Ltd. announces an Exploration/Drilling Update report for its Lydia deposit at the Garden Gully project. New drilling results incl. 80m @ 1.9g/t Au from 79m. Thundelarra is very excited by the first assay results received from this d | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Costica Vieru (Internal) | |
| ABSTRACT: | Thundelarra is very excited by the first assay results received from this drilling programme at Garden Gully. Eight deep follow-up Reverse Circulation (“RC”) holes drilled at Lydia for 2,066m advance so far. Assay results for the first six holes are reported here, with four of the six reporting major intersections of gold mineralisation that are highly significant. The results so far describe a mineralised system that is demonstrating strike and depth continuity. Wide zones of gold mineralisation consistently exhibit higher grade “shoots” within the mineralised intervals, supporting a typical model of many Eastern Goldfields gold deposits hosted in Archaean greenstone belts. The drilling currently underway is the first modern exploration programme to test at depth the local geology that was the source of historical gold production of 21,000 ounces at 21 gpt. These records clearly indicate that the Garden Gully area hosted high grade shoots that were targets for the old miners. Our initial scout drilling at Lydia (7m at 24.5 gpt Au) showed that such shoots can still exist, waiting to be discovered, with primary gold mineralisation also present at depth: 37m at 1.8 gpt Au from 71m downhole including 12m at 4.0 gpt Au from 96m (ASX release 13 Sep 2016). These results continue to support our model for the potential existence of a significant body of gold mineralisation in an area and geological terrane with demonstrated potential for commercial gold mineralisation. This announcement reports downhole widths: true widths are not yet known. | |
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