Annual report on EL 27363 Pine Creek for the period 12 January 2010 to 11 January 2011

Abstract

EL 27363 is located about 150 km SE of Darwin and about 55 km N of Pine Creek in the Northern Territory. EL 27364 was applied for on 27 May 2009 and was granted on 12 January 2009 to Element 92 Pty Ltd, which is a wholly owned subsidiary of Thundelarra Exploration Ltd. The tenement was granted for a period of 3 years and will expire on 11 January 2013. It has 2 blocks encompassing 6.68 km2. EL 27363 is situated within the Pine Creek Orogen, a tightly folded sequence of Palaeoproterozoic rocks, 10 km to 14 km in thickness, laid down on a rifted granitic Achaean basement during the interval approximately 2.2-1.87 Ma. The sequence is dominated by pelitic and psammitic sediments with minor inter-layered tuff units which has been intruded by granite magma during Top-End Orogeny. Project area is dominated by the rocks of the South Alligator Group and Finniss River Group. The South Alligator Group is represented by the rocks of the Mt Bonnie Formation. It comprises slates, mudstone, phyllite, siltstone and greywacke along with minor beds of chert and tuff. Rare beds of iron formation and dolomite may also be present. The Mt Bonnie Formation hosts a number of gold, base metals and tin deposits. The Burrell Creek Formation (Finniss River Group) is predominant unit and constituent lithologies are interbedded shale, slate, phyllite, siltstone, greywacke and rare volcanolithic pebble conglomerate. It contains a number gold, base metals, uranium and tin deposits/prospects. During the first reporting period, a desktop study of the project area was undertaken. Open file historical reports were obtained from NT Geological Survey, covering previous mapping and exploration programs in the current project area. These reports were reviewed in order to assess mineral potential and exploration activities in the project area. Processing and interpretation of high resolution airborne radiometric and magnetic survey (flown in 2009) was also undertaken. In the next reporting period, open file reports review and data compilation will take place. Ground - truthing of the project area will be conducted in order to examine the radiometric anomalies identified from radiometric survey. Geological mapping of the project area will commence and rock chip/soil samples will be taken.