Thunderbird Resources Acquires Springfield Gold Deposit + $2.2M Placement.
- Noel Ong
- 5 days ago
- 5 min read
Announcement
Thunderbird Resources Limited (ASX: THB) has executed a binding agreement to acquire 100% of the Springfield Gold Deposit in central NSW (Figure 1) — a project with historical shallow drilling, multiple thick, high-grade intercepts, and significant exploration upside. Alongside this acquisition, Thunderbird has secured $2.2M through a placement at $0.014/share, ensuring it is well-funded to accelerate its exploration programs.
Figure 1: Location of the Springfield Gold Deposit and LM2’s other projects in relation to
Thunderbird’s existing (source: THB)
Key Highlights - A Developing Gold and Antimony story.
Springfield Gold Deposit Acquisition – 100% interest in a drill-ready gold project within the Slashers Flat Project (EL 8437), located ~10km south of Gulgong, NSW.
Mineralised Intrusion – Well-defined monzodiorite mapped over >1,700m strike, with drilling to date focused on only 500m (Figure 2).
Figure 2: The mineralised monzodiorite at the Springfield Gold Deposit is mapped to shallow mineralisation focused on just 500m of strike at the Springfield Deposit (source: THB)
Impressive Historical Intercepts – Including:
27m @ 3.65g/t Au from surface (incl. 6m @ 8.29g/t Au)
65m @ 1.16g/t Au from 2m (incl. 13m @ 2.92g/t Au)
86m @ 1.04g/t Au from 104m (incl. 26m @ 1.83g/t Au)
Open in All Directions – Mineralisation remains open along strike and at depth, with Springfield North Prospect showing shallow hits yet to be followed up (Figures 3,4 & 5).
Figures 3,4 & 5: Mineralisation remains open in all directions at the Springfield Gold Deposit. (See Figure 2 for location of cross section) (source: THB)
Complementary Portfolio – Strengthens THB’s position alongside its Rockvale and Kookabookra Gold-Antimony Projects in NSW.
$2.2M Placement – Firm commitments received; directors to subscribe for $235k subject to shareholder approval, funding drilling and exploration programs.
Geology & Exploration Upside.
The Springfield Deposit is hosted in monzodiorite intruding volcaniclastics, with alteration ranging from propylitic to phyllic. Quartz stockwork veining and sulphide mineralisation (arsenopyrite, pyrite, minor chalcopyrite) dominate the system. Historical exploration — just 6,568m of drilling — intersected mineralisation at very shallow depths, yet deep drill holes confirm potential continuity at depth.
Springfield North offers an immediate opportunity with untested mineralised zones over 500m strike. Additional prospects within Slashers Flat (Lady Belmore, Divide 4) have also returned encouraging gold intercepts, presenting a pipeline of targets (Figure 6).
Figure 6: All previous drilling within the Slashers Flat project area. Multiple intrusions have been mapped within the project area, with many of these known to be mineralised (including at Springfield) (source: THB)
Upcoming Exploration & Maiden Drilling Program.
Maiden Drilling: Thunderbird to commence first drilling program soon after acquisition completion.
1.7km Mineralised System: Lightly tested with significant strike length still open.
Discovery Potential:
Infill drilling to define and expand high-grade zones at Springfield.
Step-out drilling to test strike extensions north and south.
Deeper drilling to explore mineralisation continuity at depth.
First follow-up drilling at Springfield North to test untested shallow mineralisation.
Permitting in Progress:
New land access agreement being finalised.
Other permits underway to enable drilling to start in coming months.
Samso Concluding Comments
I like the Springfield acquisition as it is a natural move for Thunderbird — it adds a drill-ready project with proven mineralisation in a premier NSW gold belt. The presence of thick, high-grade gold near the surface and the fact that more than two-thirds of the mineralised strike has never been drill-tested make a compelling story for the market.
What I believe is not mentioned is an older resource that cannot be released. Looking at the about of drilling already completed, it does not take a genius to realise that there will be something like that coming out in time. With Mike Haynes as Executive Chair, I am very happy as a shareholder. The CPS Capital and Mike haynes combination is going to work well for shareholders.
The $2.2M placement ensures that Thunderbird is not just acquiring ground but is positioned to act on it immediately. Investors should watch for the maiden drilling program results, as even modest step-out success could materially scale the known mineralised envelope.
What we are really seeing here more than the creation of a strong gold-antimony portfolio across NSW, with Springfield joining Rockvale and Kookabookra to form a consolidated exploration pipeline. Thunderbird is now purpose driven and I feel that with the right mix of a proven management backed by the largest micro-small cap group in Australia, there are good things to come.
Figure 7: The share price journey of THB (source: commsec).
With a market capitalisation of just over AUD $11M, this is a viable position play based on my comments above. For the technical investors, looking at that chart above, it is primed for some action? As I have mentioned, I am a shareholder and I am encourage with what I am seeing and with the performances of the suite of CPS Capital stocks rocketing to the moon with their share prices, I am going to be applying the art of being patience.
As always, keep an eye on execution: access agreements, permitting, and drilling start dates will be key near-term catalysts. The real excitement will come when those first assay results hit the market.
The Samso Way – Seek the Research
Always track how management converts strategic acquisitions into drilling success. Follow the permitting progress and maiden drill campaign closely, as this is where value creation will accelerate.
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