What the Analysts Say
WHAT THE ANALYSTS SAY: This week our team of experts run their eyes over Thundelarra limited and Doray Minerals.
Website: www.breakawayresearch.com
Thundelarra Limited (ASX: THX)
Ongoing work by Thundelarra continues to confirm the prospectivity of its key projects, with recent drilling returning positive results at several projects.
In addition to copper intersections in drilling at Red Bore and Allamber, the company has intersected what could be significant graphite at its Sophie Downs project near Hall’s Creek – this is currently being assayed.
The company has made a strategic move in its planned acquisition of Red Dragon Mines NL, which holds a number of prospective gold properties in Western Australia.
The projects have a number of walk up drill targets that will be tested, conditional upon shareholder approval of the acquisition.
Another potentially significant development is the possibility of Panoramic’s Savannah North nickel mineralisation extending into the Keller Creek JV tenement, in which Thundelarra has a 20 per cent free carried interest.
Thundelarra Limited (ASX: THX) is an active explorer with a diverse portfolio of advanced exploration properties, with the flagship being the Doolgunna project, located adjacent to Sandfire’s DeGrussa volcanic-hosted massive sulphide (VHMS) copper-gold operation, which had a pre-mining resource of 13.4 million tonnes at 4.7 per cent copper and 1.9 grams per tonne gold.
Work by the company at Doolgunna has outlined high-grade copper in structurally controlled pipes down to 94 metres depth (and still open), which are interpreted as being offshoots from a larger body at depth; the main exploration target.
The company is also actively exploring its Allamber project, with this area, located over the Pine Creek Orogen in the Northern Territory, being prospective for a range of skarn-hosted base and precious metals, as well as uranium, for which a resource of 1.4 million tonnes at 304ppm uranium has been defined, and which is still open.
Other prospective holdings include the uranium prospective Ngalia Basin project and a number of tenements in the East Kimberley region of Western Australia.
Website: www.gmpsecutirties.com
Doray Minerals (ASX: DRM)
Recent high-grade drilling results show potential to extend the known resource by up to 100 metres.
100m is a significant distance in a high-grade underground mine.
Importantly however, the drilling confirms mineralisation north of the dolerite Dyke, an area previously thought to be barren of mineralisation.
So potential for additional ore in this consequently relatively under explored area is greater than previously thought.
The results also support the determination of a northerly plunge to the Wilber mineralisation.
This should aid targeting additional exploration.
Doray is well set with a strong exploration budget and technical knowhow for additional positive exploration news flow this year.
DRM is maintaining its sustained drill program at Andy Well.
A third underground rig is being mobilised to site to facilitate concurrent resource-extension drilling at Wilbur, Judy and Suzie.
DRM is also conducting aircore drilling to the south of the Andy Well deposit with another program in the New Year to the north.
RC programs farther afield but within the Andy Well mining lease are due to commence in late-November and continue into the New Year.
Latest results come from underground drilling to the north of the Wilber Lode Ore Reserve boundary.
High-grade gold mineralisation intersected at Wilber North;
Results of 3.7m at 13.4g/t gold (estimated true width 1.2m) and 1.0m at 10.8g/t gold (estimated true width 0.2m) extend Wilber Lode 50-100m north of previous drilling;
Intersections extend the northern high-grade gold pod at Wilber Deeps;
Follow-up drilling underway.
Disclaimer: The above is intended as a guide only. The Roadhouse accepts no responsibility for investments made from this advice, successful or otherwise.
The views, opinions or recommendations of this article do not in any way reflect the views, opinions, recommendations, of The Resources Roadhouse.
The Roadhouse makes no representation or warranty with respect to the accuracy, completeness or currency of the content. The content is for educational purposes only and does not constitute financial advice. Independent advice should be obtained from an Australian financial services licensee before making investment decisions.