Fleur de Lys (Thundelarra 70%)
The Fleur de Lys prospect is one of a number of exciting uranium prospects within the Pine Creek Joint venture project. This joint venture between Thundelarra and GBS Gold International Inc. (“GBS”) covers approximately 2,500 square kilometres of the highly prospective Pine Creek Orogen. Thundelarra holds a 70% interest in the uranium rights and is manager while GBS retains 30% equity free carried to completion of a feasibility study. The Pine Creek Orogen is one of the world’s great uranium provinces and contains the Alligator Rivers and Rum Jungle Uranium Fields.
A rock chip sample returned an assay of 1.58% U3O8 from a shear zone 15 metres north of an existing mine shaft. The secondary uranium mineral torbernite (copper-uranium-phosphate mineral) and the copper minerals malachite, azurite and cuprite occur as veins and coatings on joints and bedding planes within the strongly sheared shale unit. Primary uranium mineralisation encountered in the historical underground mining operation consisted mainly of pitchblende hosted by narrow massive sulphide veins. A six hole RC drilling program was completed by Thundelarra but only one hole, 08PCRC002, intersected significant radioactivity returning an assay of 2,608 ppm U3O8 from 57 - 58 metres.
Exploration is continuing on the GBS Pine Creek Joint venture project involving systematic prospect assessment, detailed geological mapping, ground radiometric surveys and an airborne electromagnetic survey. Results from the recently completed drilling programs and the current ground exploration activities will determine the exploration activities for 2009.
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