Annual report for EL 26024 McKinlay, for the year ending 2 December 2008

Abstract

Thundelarra is exploring the McKinlay EL primarily for uranium mineralisation, base-metal and gold mineralisation are of secondary interest. Thundelarra is assessing the EL as part of a package of contiguous EL's held either by Thundelarra and its associates or under joint-venture with GBS Gold Ltd. Thundelarra's strategy has been to acquire and analyse all historical exploration work, carry out an airborne geophysical surveys (EM) and develop a field exploration program based on the results of the above. Work carried out consisted of a compilation and review of historical reports, and the capture of historical data in the companies GIS system. In particular, historical soil geochemistry and ground radiometric data were recovered and reprocessed. Several targets for future exploration have been defined from this work. In April 2008 Thundelarra entered into an agreement with Geoscience Australia to infill the planned government wide-spaced airborne EM survey of the Pine Creek Orogen to 400m line spacing over the entire area of EL 26024. At the time of the initial negotiations the survey was scheduled for May-July 2008, then September 2008, but has subsequently been delayed to early 2009. Thundelarra's budgeted field work program for the EL was dependent on the airborne survey and has as a consequence been unavoidably delayed. Fieldwork has been further hampered by access difficulties to EL 26024; all access routes to the EL are barred by locked gates. The manager of McKinlay Station, Mr Ian Bradford denied Thundelarra access late in the dry season citing the potential fire hazard of unburnt long grass as his main reason.