Annual report MLN 1028 for the period 24 February 2011 to 23 February 2012

Abstract

MLN 1028 is situated about 150 km SW of Darwin, Northern Territory on the north-western side of the Golden Dyke Dome (GDD). It was granted to Derek Dixon on 24 February 1984, and is expected to expire on 2 May 2014. Thundelarra Exploration Limited secured the exploration rights from the tenement holder in March 2010, and took over the control of the project area. The project area is located within central part of the Pine Creek Orogen (PCO) which is a folded sequence of Palaeoproterozoic pelitic and psammitic sediments, with interlayered cherty tuff units. MLN 1028 underlies the Mt Bonnie Formation and Gerowie Tuff. Both of these are part of the South Alligator Group which is host to gold, uranium and base metals mineralisation in the PCO. The lithological sequence is interlayered by the Zamu Dolerite. The Cenozoic unconsidered gravel hosts the Sandy Creek alluvial gold mine in the Northern Territory. During the reporting period, a technical review of available geological data was undertaken, along with detailed geological mapping, conducted by consultant geologists. The main aim of detailed geological and structural mapping was to understand geological and structural setting of gold, uranium and base metals mineralisation in the area. This involved incorporation of remote sensing imagery, high resolution geophysical data, photo-geological interpretation and mapping of the structural setting of the project area. Geological, structural and geophysical data interpretation of the project area has highlighted mineral potential for gold, uranium and base metals mineralisation. It is highly likely that Thunderball uranium mineralisation trend may extend into the project area, in addition to gold potential. In the next reporting period, a program of soil/rock chip sampling will be undertaken along with ground radiometric survey. If encouraging results received then a program of RC drilling will be conducted to test exploration targets in the project area.