Resource Wrap: 18 June 2010 – PNA, AUT, THX
June 18, 2010
PanAust Limited (PNA) said exploration has discovered a continuous zone of high-grade gold skarn mineralisation at the Tharkhek gold prospect, which is in close proximity to the Tharkhek copper-gold deposit near Phonsavan, Laos. The company said the first four discovery holes have all intersected high-grade gold mineralisation over significant widths including 22 metres at 12.78g/t gold from 141 metres and 17 metres at 10.96g/t gold from 135 metres. PanAust said the high-grade gold mineralisation has been intersected over an area of approximately 100 x 100 metres and has an estimated true thickness of between 15 metres and 20 metres.
Aurora Oil & Gas Limited (AUT) announced it would tap the market for $35 million through the placement of over 46 million shares at 75c each. The company said the placement would be made in two tranches, including the placement of 33 million shares to raise $24.75 million and a placement of 13.67 million shares to raise $10.25 million. Aurora said the proceeds raised would primarily be used to fully fund its shares of the drilling program at the Sugarkane Field located in the Eagle Ford shale trend in Texas, and provide financial flexibility for the potential acquisition of additional acreage. The company said a fully underwritten Share Purchase Plan to raise $6 million would be offered to shareholders.
Thundelarra Exploration Limited (THX) said its Curara Well Exploration License, E52/2402, has been granted. The company said the tenement covers 83 square kilometers encompassing over 10 kilometres in strike length of the Jenkins Fault, a major crustal feature which bounds a prospective corridor of Proterozoic rocks. In follow up to a historic copper soil anomaly, Thundelarra said geologists collected 17 further soil samples on lines spaced 200 metres either side of an original sample line. The company said these new samples returned assays up to 226ppm copper, confirming and extending the soil anomaly to some 400 metres in width, with a strike extent of more than one kilometre indicated. The well is situated immediately adjacent to Sandfire Resources NL’s (SFR) tenure and along strike from the DeGrussa deposit.
Aurora Oil & Gas Limited (AUT) announced it would tap the market for $35 million through the placement of over 46 million shares at 75c each. The company said the placement would be made in two tranches, including the placement of 33 million shares to raise $24.75 million and a placement of 13.67 million shares to raise $10.25 million. Aurora said the proceeds raised would primarily be used to fully fund its shares of the drilling program at the Sugarkane Field located in the Eagle Ford shale trend in Texas, and provide financial flexibility for the potential acquisition of additional acreage. The company said a fully underwritten Share Purchase Plan to raise $6 million would be offered to shareholders.
Thundelarra Exploration Limited (THX) said its Curara Well Exploration License, E52/2402, has been granted. The company said the tenement covers 83 square kilometers encompassing over 10 kilometres in strike length of the Jenkins Fault, a major crustal feature which bounds a prospective corridor of Proterozoic rocks. In follow up to a historic copper soil anomaly, Thundelarra said geologists collected 17 further soil samples on lines spaced 200 metres either side of an original sample line. The company said these new samples returned assays up to 226ppm copper, confirming and extending the soil anomaly to some 400 metres in width, with a strike extent of more than one kilometre indicated. The well is situated immediately adjacent to Sandfire Resources NL’s (SFR) tenure and along strike from the DeGrussa deposit.
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