Annual technical report for EL 28857 Second Chance Allamber Project for the period 24 February 2015 to 23 February 2016

Abstract

Exploration Licence (EL) 28857 is located about 180 km SSE of Darwin and approximately 50 km NE of Pine Creek. It consists in one block and is part of the Allamber Project and is being explored for copper, gold and uranium mineralisation. The Licence was granted to Element 92 Pty Ltd, a wholly owned subsidiary of Thundelarra Limited on 24 February 2012, it was renewed in 2015 for two years and then will expire on 23 February 2018. The project area is located in the central part of the Pine Creek Orogen which is a folded sequence of Palaeoproterozoic pelitic and psammitic sediments, with interlayered cherty tuff units. These rocks have been intruded by the late-orogenic Palaeoproterozoic granites, causing wide-spread contact/thermal aureole which contains much of the gold and other mineralisation in the Orogen. The geology of the project area is dominated by the Palaeoproterozoic rocks of the Namoona Group, Mount Partridge Group and the members of the Cullen Batholith. Main lithologies are tightly folded dolomites, sandstones, ferruginous shales and quartz-andalusite schists which have intruded by the Allamber Springs Granite. This geological sequence has potential for gold, base metals and uranium mineralisation. During the reporting period, three RC hole were drilled (TAL142RC, TAL143RC and TAL144RC, 510 m deep) and High Powered Downhole Magnetic (HP DHTEM) was conducted on previously drilled TAL126RC. The best interval was intersected in TAL142RC from 165-172 m returning 7 m at 0.22% Cu. The HP DHTEM on TAL126RC identified two off-hole zones of interest and two drill holes are planned for next reporting period (2016) targeting these two zones. EL 28857 continues to offer significant exploration potential which will be the subject of further work programs in 2016.