Annual report EL 24561 Mt Wedge Ngalia Project for the period 22 June 2009 to 21 June 2010

Abstract

EL 24561 Mount Wedge is one eight licenses that currently constitute Thundelarra's Ngalia Project. EL 24561 is located approximately 330km west-northwest of Alice Springs. The Ngalia Basin is an east west trending intracratonic basin which contains a thick succession of Neoproterozoic to Ordovician shallow marine and fluvio-glacial clastic, carbonate and evaporitic rocks, overlain by Devonian and Carboniferous fluvial to continental sandstone, siltstone & shale. Mesoproterozoic post-tectonic granitoids of the Southwark Granitic Suite and older, high grade metamorphic rocks (together representing the Arunta Inlier), form the basement to the Ngalia Basin. In the central and southern portions of the basin the Proterozoic and Paleozoic rocks are covered by a veneer of discrete Cretaceous to Tertiary basins that locally exceed 220m in thickness. Exploration work during the reporting period comprised reconnaissance mapping, helicopter-assisted gravity surveying, an airborne magnetic survey and data compilation. Thundelarra is also participating in the CSIRO-managed Joint Surveys Uranium project, which is examining uranium mineral systems in the Ngalia Basin, and which commenced in January 2010. The new potential-field data has proven especially useful in mapping the overall basin structure and exploration drilling should be directed toward the corridors of coarser sediment that flank the basement highs / gravity anomalies.