THE CONFERENCE CALLER: Thundelarra (ASX: THX) CEO Tony Lofthouse gave delegates at the RIU Explorers Conference in Fremantle something to think about. By Jack Baker
“We’re a gold explorer,” Lofthouse informed the crowd.
“We’re finding native, visible, fresh, free gold in fresh rock at 200-odd metres vertical extending below the existing operations…it’s not little stuff that’s coming out the near surface.
“This is real rock, real gold in the rock and it means there’s a primary deposit there and that’s what’s significant for us.
“We have money in the game and it’s not freebies that have been handed out…it’s hard earned cash in the company which is why we’re convinced that what we have is worth pursuing.”
The crux of the presentation was what the company believes to be a major discovery in the Garden Gully site.
Lofthouse said results of drilling of the Lydia and Crown Prince sites at Garden Gully show near-surface material he thinks they can get to.
He said that while some deposits may be deep; they are showing that below the existing workings they are still seeing a high grade perpetuated below the historical work.
He also noted that Garden Gully was situated close to the established Andy Well and Bluebird gold plants, with the ability to arrange toll treatment operations for quick monetisation.
“If we can do that we can start self-funding further exploration to establish the potential that exists unquestionably at depth at this deposit,” he said.
One thing that Lofthouse found interesting was observation of gold within arsenopyrite.
While its presence complicates mineralisation, he noted that it was rare you get any deposit of size without some structural complexity.
“We own our interests and our destiny 100 per cent and the bits that we don’t own are freebies for us,” he said.
“They don’t have any drain on any of our capital, either intellectual or financial.”