Thundelarra hits DSO grade copper at Red Bore

THE DRILL SERGEANT: Thundelarra (ASX: THX) released results of two recently-completed diamond drill holes at the company’s 90 per cent-owned Red Bore prospect (M52/597) in Western Australia’s Doolgunna region and practically doubled its share price.

The company said the holes were designed to help define the geometry and to increase the known extent of brecciated magmatic feeder pipes it had previously discovered with its first stage drill program of six holes, which was announced in May 2014.

The latest drilling encountered massive chalcopyrite at shallow depth of only 28 metres below surface of Direct Shipping Ore (DSO)-Grade copper over 7m (true width as yet undetermined).

Results included:

TRBDD09
15.6m at 15.2 per cent copper, 17.7 grams per tonne silver from 24.4m, including 7.05m at 28.4 per cent copper, 1.3g/t gold, 32.2g/t silver from 29.95m.

TRBDD09 returned a highest intercept of:

1m at 31.3 copper, 2.6g/t gold, 34.2g/t silver from 36m.

Thundelarra claims the results from hole TRBDD09 clearly demonstrate the existence of a breccia / feeder pipe or vent, as it has previously interpreted.

 

Massive chalcopyrite (copper sulphide) at 32m down hole TRBDD09. Source: Company announcement

 

The company said the massive chalcopyrite mineralisation in the core of this pipe is of sufficiently high grade to meet DSO grade criteria, as per the ASX announcements released by Sandfire Resources (ASX: SFR) in regards to the DSO contracts it signed with Yunnan Copper and MRI Trading in 2011, which referred to copper grades of 25.6 per cent copper as constituting DSO grade under the respective contracts.

The company also went to great length to stress it is not inferring the mineralisation it has discovered will be sold.

It is simply noting the grade and composition of its discovery would satisfy notional criteria for the negotiation of DSO contracts if such a contract were negotiated.

Thundelarra has received approval from the WA Department of Mines and Petroleum for its next drilling program, which will test for possible extensions of the newly-discovered mineralised pipe.

It will also test for possible repetitions of such pipes in and around the Red Bore gossan area and to improve the company’s understanding of the geometry of the pipe(s) and the geology of the intrusive-related mineralising system in and around the Red Bore gossan area.

“The possible relevance of the deep hole TRBDD07 in the north-west of the tenement has been supplanted by the importance of the discoveries at the Red Bore gossan,” Thundelarra said in its ASX announcement.

“Work in the immediate future will focus on these new discoveries.

“New drilling programs will begin at Red Bore as soon as is practicable.

“The current target is for preparatory work to be complete by approximately mid-August, with actual drilling to get underway shortly thereafter.”

Email: info@thundelarra.com.au

Website: www.thundelarra.com.au