It is intended to complete as many holes at Thunderball as possible prior to the onset of the wet season. Down-hole gamma logging has been carried out for drill holes completed at Thunderball in August and September, including diamond drill hole TPCDD026. Assays are yet to be received for TPCDD026, however as previously reported huge uranium mineralization was observed in this hole.

The gamma log results support the visual observations for TPCDD026, but it is not considered appropriate at this stage to estimate intercept grades from the gamma results as there is insufficient data available to reliably calibrate instrument output. However gamma results from a number of holes can be validly compared to provide an indication of relative mineralisation intensity.

The graph over page compares gamma data for TPCDD026 with TPCRC019 which has delivered the highest assay results to date (15 m at 1.5% U3O8 inc. 1 m at 20.3% U3O8). It is anticipated that assay results will be available for TPCDD026 before month end.

At the Corkscrew prospect, around 3km south west of Thunderball, uranium rich boulders assaying up to 2.3% U3O8 were discovered within barren scree cover. Results have now been received for three RC holes drilled to test beneath the cover. One hole, TPCRC024, intersected strongly anomalous uranium with associated indicator minerals within a shear zone.

Corkscrew is situated within a very similar geological setting to Thunderball and has produced the highest uranium grades obtained at surface in the region. Fieldwork at Corkscrew is being accelerated immediately with the aim of locating the source of the high grade boulders.