153.5g/t rock chip helps Thunderbird zero in on NSW gold targets

Thunderbird Resources is zeroing in on high-grade gold mineralisation at its Kookabookra gold project near Armidale in northern New South Wales, with rock chip assays returning up to a spectacular 153.5 grams per tonne (g/t) gold at the company’s Mt Secret prospect. 

Thunderbird says the results, coupled with robust soil sampling and an ongoing induced polarisation (IP) survey, will direct a maiden drilling program at the recently acquired project later this quarter. 

As gold and antimony momentum holds strong, the latest round of rock chip and grab sampling at Kookabookra has confirmed the presence of high-grade gold mineralisation, just up the road from Australia’s largest gold-antimony deposit at Larvotto Resources’ Hillgrove project.

Assays returned up to 153.5g/t gold, alongside 16.35g/t silver and solid pathfinder results for bismuth and molybdenum, pointing to what management believes is an intrusion-related gold system (IRGS). 

IRGSs hold the key to some of Australia’s largest recent gold discoveries, with parallels to multi-million-ounce giants such as De Grey’s recent Hemi gold project, acquired for a massive $5 billion by Northern Star Resources, and the five-million-ounce Kidston deposit in Queensland. 

Thunderbird says the high-grade mineralisation is tied to quartz veins and altered granite. One to two per cent sulphides are accompanied by a strong pathfinder signature typical of IRGS deposits.

Soil sampling results have unveiled two substantial gold-in-soil anomalies at Mt Secret and the Mannix prospects to the south. 

At Mannix, an irregular 600m by 600m anomaly returned assays up to 926 parts per billion (ppb) gold, while Mt Secret revealed a 200m-long north-south trending anomaly with a peak of 282ppb gold. The results are centred around historical workings, which the company says confirm a significant mineralised system that remains untested at depth.

Thunderbird’s IP survey will kick off shortly over Mt Secret and Mannix to pinpoint drill targets where soil geochemistry may fall short. The survey is expected to wrap up by mid-July, with results expected by the end of the month.

The company’s recent LiDAR survey has uncovered a considerable, mostly undocumented, 428 historical mine workings, including 40 adits, 40 shafts and 348 prospecting pits. 

On-ground verification of these workings began in late June and assays are due back in mid-July.

At Thunderbird’s nearby Rockvale project, a detailed geological mapping and soil sampling program is in the works at its priority Achill prospect to define drill targets. 

Thunderbird Resources executive chairman George Ventouras said: “The Kookabookra gold project is a lightly explored area with limited drilling, an abundance of historical workings and significant geological prospectivity. Our confidence is growing that the Kookabookra project has the potential to be a significant gold project.”

Thunderbird says its drill permit applications are set for submission in late July, keeping the company on track for its drilling campaign this quarter.

With gold prices soaring past $5000 an ounce, Thunderbird’s recent gold pick-ups in the booming New England Orogen are riding a wave of market enthusiasm. 

The company’s systematic approach ahead of drilling continues to position Kookabookra for an exciting maiden program. As the drill rigs prepare to roll, Thunderbird’s projects are shaping up as prime targets in a region known for delivering serious value.

With a district-scale land package and a pipeline of targets, all eyes will be watching closely as the company looks to uncork Kookabookra’s untapped potential with the drill bit later this quarter.

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au