2. THX – Exploring for Uranium in the NT
2
Murphy Inlier
Pine Creek
Orogen
Ngalia Basin Uranium Occurrence

3. Operating & Developing Uranium Mines
3
Sandstone
49%
Vein
9%
Metasomatite
8%
Volcanic
8%
Quartz-pebble
Conglomerate
7%
Unconformity
6%
Surficial
3%
Intrusive
2%
Olympic Dam
1%
Others
7%
Source: IAEA/ UDEPO 2011 Edition in prep.

4. Sandstone hosted - grade vs. tonnes
4
100
1000
10000
100000
1000000
0.010% 0.100% 1.000%
Resource(tonnesU3O8)
Grade
Conventional
ISL
Source: IAEA/ UDEPO 2011 Edition in prep.

5. Operating Costs – Conventional vs ISL!
Mine (ISL) Country Cost / lb
Honeymoon Australia $30.0
Four Mile (?) Australia $25.0
Beverley (?) Australia $25.0
South Inkai Kazakhstan $21.0
North Kharasan Kazakhstan $8.7
South Kharasan Kazakhstan $20.0
Akdala Kazakhstan $7.3
Karatau Kazakhstan $13.5
Lost Ck USA $40.0
Nichols Ranch / Hank USA $24.0
Bison Basin USA $18.0
Reno Ck USA $26.3
Lance USA $21.4
Average ISL: $21.6
Mine (Conventional) Country Cost / lb
Dawson Hinkler Australia $52.0
Lake Way / Centipede Australia $40.0
Jabiluka Australia $41.6
Pele Mtn Elliot Canada $55.5
Cigar Lake Canada $23.1
Midwest / McLean Lake Canada $23.0
Michelin Labrador $28.2
Kayelekera Malawi $33.0
Dornod Mongolia $23.2
Etango Namibia $48.0
Husab Namibia $27.8
Trekkopje Namibia $40.0
Valencia Namibia $53.0
Langer Heinrich Namibia $26.0
Imouraren Niger $41.0
Jahonda/Kuriskova Slovakia $36.2
Dominion South Africa $46.0
Colorado Plateau USA $52.2
Arizona 1 USA $30.5
Lost Soldier USA $35.0
Mutanga Zambia $33.7
Average Conventional: $37.6
Source: Macquarie Research, September 2008 &
public company financial reporting (Uranium
One, Paladin, ERA, Cameco, Denison, Rio Tinto)
5

6. ISL – Proportion of Global U Production
6
16%
36%
2000 2002 2004 2006 2008 2010
Source: world-nuclear.org

7. Sandstone-hosted deposits by Country
7
United States of
America
26%
Kazakhstan
20%
Niger
14%
29 Others w/ <
40,000 t ea.
12%
Uzbekistan
8%
Russian
Federation
5%
Gabon
5%
Czech Republic
4%
Australia
3%
S. Africa
2%
China
1%
World Distribution of Uranium Deposits
(UDEPO), with Uranium Deposit Classification,
2009 Edition IAEA TECDOC Series No. 1629

8. Southern Kazakhstan
8
Jaireth et al 2008 after Yazhikov 1996

9. Powder River Basin (US)
9 Whitehead, R.L. 1996. GROUND WATER ATLAS of the UNITED STATES
Montana, North Dakota, South Dakota, Wyoming USGS Report HA 730-I.

10. Frome Embayment
10
Skirrow, R.G., 2009 (editor). Uranium ore-forming systems of the Lake
Frome region, South Australia: Regional spatial controls and exploration
criteria. Geoscience Australia Record 2009/40, 151 p.

11. Ngalia Basin – Previous gravity
11

12. Ngalia – initial conceptual targets
12
Seismic Line / Model

13. Structure, sedimentation & porosity
13
Thorne, A. M. & Seymour, D. B. & GSWA. 1991 Geology of the Ashburton Basin, Western Australia

14. Ngalia Basin – 1km Gravity Survey (2009)
14

15. Mineralisation! (May 2010)
15
TNG006MD
Looking WNW

16. Step-out Drilling (end 2010)
16
Cross-section
TNG034AC: 1.0m at 1,798 ppm U3O8
TNG006MD: 0.32m at 1547 ppm U3O8
TNG045MD: 0.55m at 1150 ppm eU3O8
TNG021MD: 0.55m at 922 ppm eU3O8
TNG035MD: 4.35m at 209 ppm eU3O8
TNG032MR: 0.2m at 656 ppm eU3O8
Afghan Swan Anomaly

17. Afghan Swan Cross Section (end 2010)
17
Hole collapsed

18. SEM – Lower T Channel sands (299 ppm U3O8)
18

19. SEM - Lower T Mudstone (2580 ppm U3O8)
19

20. Correlation with Nearby Cenozoic Basins
20
Source: Senior et
al, BMR Record
1994/66

21. Context – Tertiary Climatic Record
21
Source: Uriarte 2011 (http://web.me.com/uriarte/Earths_Climate/Earths_Climate_History.html) & Zachos, 2001

22. Afghan Swan - ISL Amenable? Maybe…
22
Hosted in Aquifer
– Drillers report water intersections in running sands
– Samples lifted by Air Core drilling
– Higher grades report to sand/mud contact (e.g. Beverley)
Hydrogeological confinement
– Consistent intersections of the lower T mudstone
– Drillers report pressurized aquifers
Typical Mineralogy
– Anatase, uraninite, pyrite & LREE enriched hydrated phosphates
Evidence of variable disequilibrium
– Up-to 5x in TNG006MD
Low salinities
– TDS ~2000mg/L in air-lifted water samples
Low carbonate
– Average = 0.15% Ca from diamond core of channel & mud facies

23. Drill campaign completed early Nov 2011
23
Afghan Swan Prospect

24. TEMPEST Survey mid Nov 2011
24
Afghan Swan Prospect

25. TEMPEST Survey (Jan 2011) – Channel z9
25
Afghan Swan Prospect

26. Avg(CDI 100-125m) / X Time Constant
26
Afghan Swan Prospect

27. TDR(Avg(CDI 100-125m) / X Time Constant)
27
Afghan Swan Prospect

28. TDR = Shade, EM z9 = Amplitude (Colour)
28
Afghan Swan Prospect

29. TEMPEST 320m data - Afghan Swan – EM z9
29
Drill hole with uranium intercept
Barren drill hole

30. Afghan Swan – TEMPEST CDI “Line A”
30

31. Afghan Swan – TEMPEST CDI “Line B”
31

32. Forward Exploration Program
Focus on Tertiary Hosted Uranium
– Reconnaissance Rotary Mud Program & gamma/resistivity
– 800m & 1600m spacing within interpreted paleo-valleys
– Drill along EM lines
– Map oxidation fronts
– Understand Tertiary facies distribution
32
Yuendumu
Vaughan Springs
Bigrlyi

33. Registered Office
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1060 Hay Street Cloisters Square
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Telephone: +618 9321 9680
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Email: info@thundelarra.com.au
Website: www.thundelarra.com
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For further information contact:
Martin Moloney, Geologist
martin.moloney@thundelarra.com.au
Contact Details