Thundelarra (ASX:THX) has intersected further massive sulphides at the 90%-owned Red Bore prospect (M52/597) in Western Australia’s Doolgunna region.
The company is well funded after a $7.5 million capital raising last month at $0.19 per share from institutional, professional and sophisticated investors.
Highlights include a new 5 metre massive chalcopyrite intercept close to TRBDD09 intercept, and 27 metres of new supergene copper mineralisation in TRBC070.
The results indicate the possible presence of another “pipe” 20 metres east of TRBDD09, while Hole TRBC073 suggests possible third “pipe” about 20 metres west of TRBDD09.
Previous drilling (TRBDD09) had included an intercept of 15.6 metres at 15.2% copper, 17.7 grams per tonne silver from 24.4 metres.
Drilling covered 14 holes for 1334 metres.
Thundelarra also finished the program earlier than anticipated due to favourable conditions and circumstances.
Analysis
The key for Thundelarra are the occurrences of multiple mineralised zones around the Red Bore Gossan area.
The magnetite and copper mineralisation was intersected 900 metres west of the Red Bore Gossan at one of the other magnetic targets being tested.
This could mean the company has multiple zones, which is why there will be a detailed geophysical survey and possible ground magnetic follow-up.
Near-term share price catalysts include the samples which are being prepared for assay, along with a follow-up program of down-hole geophysical surveys including magnetics, resistivity, and also DHEM using a strong source.
The mineralised intercepts are based on visual observations of the drill chips, with assays expected in coming weeks.
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