Thundelarra Exploration

Published : July 27th, 2016

VISIBLE GOLD AT GARDEN GULLY

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Keywords :   9/11 | Australia | Commodities | Diamond | Recovery | Standard |

VISIBLE GOLD AT GARDEN GULLY

ASX/Media Announcement

27 July 2016

VISIBLE GOLD AT GARDEN GULLY

Thundelarra is pleased to announce that our geologists have observed visible gold in drill chips from the drilling programme currently underway at Garden Gully.

Figure 1. Visible gold in drill chips from Garden Gully project.

Highlights:

  • Zones of ferruginised quartz veining observed in a number of holes

  • Visible gold observed in drill chips from 11-12m downhole in TGGRC018

  • Visible gold in ferruginised quartz vein material

  • First batch of samples at laboratory with assay results pending

  • Drilling continuing after several halts due to adverse weather conditions

Note: These drill chips from one drill hole are not necessarily representative of the entire hole and may not necessarily be repeated in other holes nearby. Initial logging indicates they occur in quartz veining, orientation and exact geological setting of which cannot be established from RC drill chips. They are visual observations only and no conclusion should be made as to the possible grade and thickness of any gold mineralisation present until formal assays have been completed and results are available.

Thundelarra Limited | ABN: 74 950 465 654 | Level 1, 186 Hampden Rd, Nedlands WA 6009 | PO Box 7363, Cloisters Square, WA, 6850

www.thundelarra.com.au | [email protected] | Tel: +61 8 9389 6927 | Fax: +61 8 9389 5593

The original drill programme was planned for approximately 2,000m in total. Initially it was intended to drill air core holes, but ground conditions quickly indicated a need to change to narrow diameter reverse circulation ("RC") drilling with a maximum depth capability of about 120m. To date most holes were completed at shallower depths than 120m.

Upon completion of the programme and receipt of all relevant assay data, targets will be identified for deeper follow-up RC drilling. Exact drill collar locations and assay results from the holes drilled in the initial programme will be reported when all the relevant data has been received.

Figure 2. Location map of Garden Gully Project showing proximity to local plants and infrastructure. Scale: grid spacing is 25 km.

Hole TGGRC018 was collared at 644341E, 7070924N and was drilled at -600 dip, 1000 azimuth.

Drilling has been interrupted twice by adverse weather conditions following extensive local rainfall in the area on several recent occasions.

The Garden Gully project, wholly-owned by Thundelarra, comprises 14 granted Prospecting Licences, 1 granted Exploration Licence, and one Exploration Licence application covering about

65.5 square kilometres and is located in Western Australia's Doolgunna region (Figure 2) about 20km north-west of the town of Meekatharra.

For Further Information Contact: THUNDELARRA LIMITED Mr Tony Lofthouse - Chief Executive Officer Issued Shares: 373.5M

+61 8 9389 6927 ASX Code: THX

Competent Person Statement

The details contained in this report that pertain to Exploration Results, Mineral Resources or Ore Reserves, are based upon, and fairly represent, information and supporting documentation compiled by Mr Costica Vieru, a Member of the Australian Institute of Geoscientists and a full-time employee of the Company. Mr Vieru has sufficient experience which is relevant to the style(s) of mineralisation and type(s) of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (JORC Code). Mr Vieru consents to the inclusion in this report of the matters based upon the information in the form and context in which it appears.

Appendix 2: JORC Table 1 Checklist of Assessment and Reporting Criteria

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria

JORC Code Explanation

Commentary

Sampling techniques

  • Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down-hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.

  • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.

  • Aspects of the determination of mineralisation that are material to the Public Report. In cases where 'industry standard' work has been done this would be relatively simple (eg 'reverse circulation drilling was used to obtain 1m samples from which 3 kg was pulverised to produce a 30g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.

  • RC sample was collected and split in even metre intervals where sample was dry. Wet sample was speared or on occasion scoop-sampled. RC drill chips from each metre were examined visually and logged by the geologist. Evidence of alteration or the presence of mineralisation was noted on the drill logs. Intervals selected by the site geologist were tested by hand-held XRF and those reporting relevant metal content were bagged and numbered for laboratory analysis.

  • Duplicate samples are submitted at a rate of approximately 10% of total samples taken (ie one duplicate submitted for every 10 samples). The Delta XRF Analyser is calibrated before each session and is serviced according to the manufacturer's (Olympus) recommended schedule.

  • The presence or absence of mineralisation is initially determined visually by the site geologist, based on experience and expertise in evaluating the styles of mineralisation being sought.

Drilling techniques

Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of Diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).

Narrow diameter reverse circulation drilling using a Gemco H-13 multi-purpose scout drill rig. Mounted on an Isuzu 4x4. 600 cpm plus auxiliary booster.

Drill sample recovery

  • Method of recording and assessing core and chip sample recoveries and results assessed.

  • Measures taken to maximise sample recovery and ensure representative nature of the samples.

  • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.

  • Volume of material collected from each metre interval of drilling completed is monitored visually by the site geologist and field assistants. Dry sample recoveries were estimated at ~95%. Wet sample recovery was lower, estimated to average ~40%.

  • Samples were collected and dry sample split using a riffle splitter.

  • Not applicable as assays have not yet been received.

Logging

  • Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.

  • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.

  • The total length and percentage of the relevant intersections logged.

  • RC chips are logged visually by qualified geologists. Lithology, and where possible structures, textures, colours, alteration types and minerals estimates, are recorded.

  • Representative chips are retained in chip trays for each metre interval drilled.

  • The entire length of each drillhole is logged and evaluated.

Sub-sampling techniques and sample preparation

  • If core, whether cut or sawn and whether quarter, half or all core taken.

  • If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.

  • For all sample types, the nature, quality and appropriateness of the sample preparation technique.

  • Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.

  • Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.

  • Whether sample sizes are appropriate to the grain size of the material being sampled.

  • RC samples were collected and dry sample split using a riffle splitter. Material too moist for effective riffle splitting was sampled using a 4cm diameter spear. Sample submitted to the laboratory comprised three spear samples in different directions into the material for each metre interval.

Assay results and associated sample preparation procedures and protocols are still pending from the laboratory.

No valid observation or comment can be made about sample representitivity or relationship between grain size and grade until assay results are received.

Quality of assay data and

  • The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.

Not applicable. Assays not yet received.

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Thundelarra Exploration

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ISIN : AU000000THX0
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Thundelarra is a nickel and copper exploration company based in Australia.

Thundelarra develops nickel, copper and cobalt in Australia, and holds various exploration projects in Australia and in Canada.

Its main asset in development is COPERNICUS JV in Australia and its main exploration properties are FLEUR DE LYS, PINE CREEK REGIONAL, NGALIA, CORKSCREW, KUNDERONG PROJECT, SOPHIE DOWNS, PYRAMID PROJECT, LAMBOO, MABEL HILL, FRANK HILL PROJECT, GREGORY RANGE, KENNEDY RANGE, SPINIFEX, DOOLGUNNA NORTH-EAST, EAST KIMBERLEY, THUNDERBALL, ALLAMBER, WARRIEDAR, KIMBERLEY METALS PROJECT and DAVYHURST ELA 16 / 175 in Australia.

Thundelarra is listed in Australia and in Germany. Its market capitalisation is AU$ 4.3 millions as of today (US$ 3.0 millions, € 2.7 millions).

Its stock quote reached its highest recent level on August 06, 2010 at AU$ 0.95, and its lowest recent point on June 29, 2019 at AU$ 0.01.

Thundelarra has 426 500 000 shares outstanding.

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