Thundelarra has secured the right to acquire 60% interest in Mining Lease M52/597 known as Red Bore located 500m east of Sandfire Resources NL’s DeGrussa discovery (initial resource 7.13 million tonnes at 5.2% copper and 1.9 g/t gold).
Red Bore hosts a base metals gossan within Narracoota Volcanics where shallow drilling has intersected significant DeGrussa style copper and gold mineralisation, untested at depth.
The Red Bore prospect was explored by WMC (1969-1971) and Great Australian Resources NL (1987) with significant mineralisation intersected in 5 of the 9 reported holes. These include
· Hole RB3 – 7m at 7.25% copper and 1.09g/t gold from 20m to end of hole.
· Hole PT1003 – 7.6m at 6.28% copper from 7.6m to end of hole
· Hole PT1002 – 16.7m at 1.84% copper from surface
Red Bore Prospect Historic Drill Results
|
Hole
|
Location
(MGA z50 GDA94)
|
Azimuth/Dip
|
Final Depth
|
Intercept
|
|
PT1001
|
735942E 7172509N
|
vertical
|
12.1m
|
4.5m @ 1.08% Cu from surface
|
|
PT1002
|
735942E 7172504N
|
vertical
|
22.8m
|
16.7m @ 1.84% Cu from surface
|
|
PT1003
|
735939E 7172504N
|
vertical
|
15.2m
|
7.6m @ 6.28% Cu from 7.6m to EOH
|
|
MTP1
|
735966E 7172529N
|
205°/ -60°
|
59.4m
|
NSR
|
|
MTP2
|
735947E 7172489N
|
205°/ -60°
|
27.4m
|
NSR
|
|
MTP3
|
735944E 7172517N
|
025°/ -70°
|
16.7m
|
NSR
|
|
RB1
|
735952E 7172508N
|
202°/ -60°
|
30m
|
2m @ 0.57% Cu, 0.5g/t Au from surface
|
|
RB2
|
735940E 7172515N
|
193°/ -60°
|
28m
|
10m @ 1.93% Cu, 1.05g/t Au from 16m to EOH
|
|
RB3
|
735928E 7172520N
|
199°/ -60°
|
27m
|
7m @ 7.25% Cu, 1.09g/t Au from 20m
|
Recent rock chip samples collected by Thundelarra at Red Bore prospect have been assayed confirming the presence of strong copper–gold mineralisation together with other elements typical of a primary hydrothermal mineralising system.
· Rock sample (TK650469) returned 28.7% copper, 1.95g/t gold and 19g/t silver
· Re-sampling of historic drill hole RB3 returned 11.3% copper, 4.72g/t gold and 6g/t silver
Rock sample TK650469 was taken from the Narracoota Volcanics 80 metres west of the discovery gossan. The favourable horizon within the Narracoota Volcanics can be observed on surface over a strike length of 300 metres before being obscured by recent cover.
Red Bore Prospect Tenement Acquisition Terms are presented in the ASX Announcement released by Thundelarra dated 15 April 2010, titled, Project Acquisition and Base Metals Demerger.
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