Final and Annual report on EL 25868 Allamber 1 Pine Creek NT for the period 27 September 2017 to 15 June 2018

Abstract

EL 25868 (1 block) is located about 180 km SE of Darwin and 30-40 km NE of Pine Creek, Northern Territory. Granted on 27 September 2007 to Element 92 Pty Ltd ('E92', a wholly own subsidiary of ASX-listed Thundelarra Ltd), it was expected to expire date is 26/09/2018, but was surrendered on 15/06/2018 due to downgraded mineral potential. The licence covers approximately 3.35 km2 and lies within pastoral lease PPL1134 (Mary River Station). EL 25868 and EL 27365 together formed amalgamated annual reporting group GR204-11 until E92 relinquished EL 27365. The project area is located within central part of the Pine Creek Orogen. The project area has rocks of the Namoona Group, Mt Partridge Group and the members of the Cullen Batholith. Main lithologies are tightly folded dolomites, sandstones, ferruginous shales and quartz- andalusite schists which are intruded by the Allamber Springs and Minglo Granites. Exploration has focused on the potential for base and precious metals and uranium mineralisation. During the term of the Licence, exploration activities included collection and interpretation of historical data which identified mineral potential of the project area for uranium, base metals and gold mineralisation. Thundelarra Limited/Element 92 Pty Ltd embarked on exploration EL 25868 and conducted dedicated exploration programs to test the mineral potential of the project area. It included geological mapping, geochemical survey, on-ground magnetic survey, airborne magnetic survey, on-ground gravity survey and drilling of 3 RC holes in the project area. Processing and interpretation of all data identify some anomalies. However, due to land access issues those targets could not be tested. After a thorough review of geological data and land access issues, company decided to surrender the tenement on 15 June 2018.