Thunderbird Raises $2.2M, Acquires Drill-Ready Springfield Gold Project with High-Grade Intercepts
Thunderbird Resources has executed a binding agreement to acquire 100% of the Springfield Gold Deposit in NSW, an advanced project with significant high-grade gold mineralisation. The company also raised $2.2 million to fund exploration and appointed new senior executives to drive growth.
- Binding agreement to acquire 100% of Springfield Gold Deposit in central NSW
- Significant high-grade gold intercepts from limited historical drilling
- Systematic exploration programs to start November 2025, including soil sampling and drilling
- Raised $2.2 million via placement to fund exploration activities
- New executive appointments and proposed company name change to Xpedra Resources
Strategic Acquisition of Springfield Gold Deposit
Thunderbird Resources Limited (ASX, THB) has taken a decisive step forward by entering into a binding agreement to acquire a 100% interest in the Springfield Gold Deposit, located near Gulgong in central New South Wales. This advanced, drill-ready project is notable for its multiple wide and high-grade gold intercepts from limited historical drilling, which to date totals just over 6,500 metres. The mineralisation is hosted within a monzodiorite intrusion extending over 1,700 metres of strike, with assays including 27 metres at 3.65 grams per tonne gold from surface and deeper intervals such as 86 metres at 1.04 grams per tonne from 104 metres down.
Exploration Upside and Upcoming Work Programs
Despite the promising historical results, exploration at Springfield has been relatively shallow and limited in strike extent, leaving significant potential for expansion. Thunderbird plans to commence systematic exploration activities starting with a comprehensive soil sampling program in mid-November 2025, followed by a maiden drilling campaign in early 2026. The company’s geological team is optimistic that the known mineralisation is part of a much larger system, supported by broad arsenic anomalies that correlate closely with gold mineralisation.
Complementary NSW Projects and Canadian Uranium-Copper JV
Alongside Springfield, Thunderbird continues to advance its Rockvale and Kookabookra Gold-Antimony Projects in northern NSW. Rockvale, adjacent to Larvotto Resources’ Hillgrove Mine, is poised for systematic soil geochemistry work targeting high-grade gold and antimony mineralisation. Meanwhile, Kookabookra has yielded impressive rock sample assays up to 23 grams per tonne gold, with further soil sampling results pending. Internationally, Thunderbird’s joint venture partner Mustang Energy Corporation has initiated a 2,000-metre diamond drilling program at the Surprise Creek Uranium-Copper Project in Canada’s Athabasca Basin, following up on previous high-grade uranium intercepts.
Capital Raising and Leadership Refresh
To underpin these exploration initiatives, Thunderbird secured firm commitments for a $2.2 million placement, priced at 1.4 cents per share, ensuring the company is well-funded for the near term. Notably, members of the board have committed to participate in the placement, signaling confidence in the company’s strategy. The company also appointed Michael Haynes as Executive Chairman and Ian Cunningham as Joint Company Secretary, bringing experienced leadership to drive shareholder value. Reflecting this strategic pivot, Thunderbird proposes to change its name to Xpedra Resources Limited, subject to shareholder approval at the upcoming Annual General Meeting scheduled for 19 November 2025.
Outlook and Market Positioning
Thunderbird’s acquisition of the Springfield Gold Deposit and its bolstered exploration pipeline position the company to capitalize on the rich mineral endowment of NSW’s Lachlan and New England Orogens. With systematic exploration programs imminent and a strengthened balance sheet, the company is poised to deliver significant news flow in the coming months. Investors will be watching closely for assay results from the upcoming drilling campaigns and the outcome of the LM2 acquisition, which will expand Thunderbird’s footprint across multiple prospective gold and antimony projects.
Bottom Line?
Thunderbird’s strategic acquisition and capital raise set the stage for a pivotal exploration phase that could redefine its growth trajectory.
Questions in the middle?
- Will the upcoming drilling at Springfield confirm a large, economically viable gold resource?
- How will the market respond to the proposed company name change to Xpedra Resources?
- What impact will Mustang Energy’s drilling results at Surprise Creek have on Thunderbird’s uranium exposure?
