Thundelarra Provides Drilling Update On Thunderball Uranium Prospect

Thundelarra has revealed that assays have been received for the final five holes from a diamond drilling program completed at the Thunderball uranium prospect in December 2009.

The company said that the hole TPCDD032 generated the best result from the latest batch of assays with three metres grading 6,592 ppm U3O8 including one metre at 1.3% U3O8. Grades in the upper mineralised zone have continued to strengthen to the north. Hole TPCDD031 returned a one metre interval of 3,646 ppm U3O8 within an upper zone intersection of two metres at 2,151 ppm U3O8.

Overall, seven of the eight holes drilled in the latest program have produced uranium grades in excess of 1,000 ppm U3O8. High grade uranium has now been defined over a strike length exceeding 200 metres and mineralisation remains open to some degree in all directions.

Information from the 23 RC and 15 diamond holes completed within the Thunderball area will be combined with geophysical data captured in recent months to prepare a detailed structural model of the prospect and identify the principle controls on mineralisation. Specialist consultants from SRK Consulting will be working with Thundelarra’s geologists on this project.

The modelling will be used to aid design of the next drilling program, scheduled to commence at the beginning of April. It is Thundelarra’s objective to calculate an inaugural resource for Thunderball in 2010.

The modelling of mineralisation at Thunderball is also expected to contribute to the understanding of other uranium occurrences identified by Thundelarra in the Hayes Creek Project area. A number of these will be drilled as part of a major drilling campaign to be undertaken by the company in the Pine Creek region during 2010.

The drill holes were located on exploration license EL23431. Thundelarra has a 70% interest in the uranium rights on this tenement in joint venture with Crocodile Gold Australia. The company generally reports uranium grades in ppm (parts per million) except where grades exceed 10,000 ppm in which case percentages are used.