ASX Junior Miner - Excellent Drilling Results - Gold - WA - Thundelarra (ASX: THX)

GARDEN GULLY CONTINUES TO BLOOM Ongoing work by Thundelarra Limited (ASX: THX, “Thundelarra” or “the Company”) has continued to return excellent results from their Garden Gully Gold Project (“Garden Gully” or “the Project”), located 20km from Meekatharra in the Eastern Goldfields of Western Australia. The Project, which was picked up in late 2015, has seen little historical work, and only limited follow up from completed reconnaissance activities, however is located in a prolific gold producing region and near operating mills and infrastructure. The results achieved by Thundelarra carry on from the excellent results (including 7m @ 24.5g/t Au) from the initial drilling programme as reported in our October 2016 Initiation Report, and have confirmed the potential for the Project to host a major deposit. The third programme of drilling over a number of the prospects has recently been completed, with interpretations and assaying currently under way. KEY POINTS Excellent drilling results: Since our October 2016 Initiation Report, the Garden Gully gold project, located near Meekatharra in Western Australia has continued to deliver very positive results, including an intersection of 80m @ 1.9g/t Au at the Lydia prospect. Multiple prospects: The work has identified multiple prospects, with mineralisation at all being open, and with work only in early stages. Analogies to known deposits: The results of work to date and interpretations of the geology have highlighted the analogies and similarities to defined resources in the Archaean of Western Australia, including Gold Road’s (ASX: GOR) Gruyere deposit and Gascoyne Resources’ (ASX: GCY) Gilbeys deposit. Also prospective for VMS mineralisation: Historic work at Garden Gully, along with recent interpretations, indicates the potential for volcanogenic massive sulphide (“VMS”) mineralisation, with results of this work including anomalous base metal geochemistry in shallow drilling, conductive horizons (potentially reflecting sulphide-rich units) and the postulated presence of a buried internal granite (a driver for a VMS system). Early days yet: Exploration is at a relatively early stage – the Project has seen little historical drilling, and thus there is significant potential to define yet more prospects and to delineate significant mineralisation at the known prospects. Scientific approach: Thundelarra take a rigorous scientific approach to exploration, and do not just drill for the sake of drilling – programmes are planned based on a thorough interpretation of exploration data. Strong management and technical team with skin in the game: The Company’s personnel, including board, management and technical team have extensive technical and financial experience in the junior resources sector; in addition they have significant shareholdings in the Company, thus aligning their interests with those of other shareholders. News flow: With results from the recent drilling at Garden Gully and updates expected from Red Bore there will be steady news flow over coming months. Leveraged to exploration success – With an EV of $20 million, Thundelarra is well leveraged to exploration success – notable examples over the past few years include Sandfire’s 2008 Doolgunna VMS discovery, which took the price from $0.05 to $4.08 on the initial run, with subsequent movements to over $8.00/share, Sandfire’s/Talisman’s (ASX: TLM) Monty VMS discovery, which took Talisman from A$0.15 to A$0.785 in May-July 2015, and Breaker Resources (ASX: BRB) making the recent Lake Roe gold discovery that has moved its share price from A$0.06 to a high of $0.76 over the twelve months to September 2016.