Annual Combined Report GR202-11 on EL 23506, EL 23516, EL 23517, EL 23532, EL 24403 and EL 25119 for the period ending 3 April 2012

Abstract

During the year under review, Thundelarra Exploration Limited - Element 92 Pty Ltd commenced exploration activities in the project area with a view to assess mineral potential of the project area. This involved geological mapping, processing and interpretation of geological and geophysical data. At the same time 3186 soil samples, 5 rock chip samples and 41 drill collars were retrieved from historical reports. These data were entered into in-house data base. Interpretation of geological, geochemical and geophysical data reveals that project area has potential for gold, base metals and iron ore mineralisation. This study has identified that there are a number of anomalies in the project area, which have the potential for gold, uranium, base metals and iron ore mineralisation. Magnetic and radiometric anomalies identified from the geophysical and mapping data will be examined in the field. A soil - rock chip sampling program has been prepared for 2012-13 reporting year. If some encouraging results received, then RC drilling will be conducted to test new areas for mineralisation.