Thundelarra investors were all smiles today after a new gold discovery in Western Australia pushed shares up more than 90 per cent.

The stock (ASX:THX) shot up 91 per cent to an intraday high of 4.2c before cooling to 3.6c in lunchtime trade — still up 64 per cent.

Thundelarra reported six occurrences of visible gold across a 5.5 metre interval from a depth of 259.3 metres at the “Crown Prince” prospect within its Garden Gully project near the town of Meekatharra in central WA.

Thundelarra’s share price over the past week. Source:

The news reinforces the potential of Crown Prince after gold was seen at 128.8 metres depth in a separate drill hole earlier this month.

Crown Prince was previously mined to 120 metres, producing some 21,000 ounces at around 21 grams per tonne.

The result was “further evidence primary gold mineralisation persists to depths well below the level of historical workings at Crown Prince”, the company told investors.

“The presence of visible free gold will generally indicate high gold grades,” Thundelarra chief executive officer Tony Lofthouse said.

The drill core has been submitted for testing.

Exploration began at Garden Gully mid last year with a program of up to 87 drill holes.

Garden Gully includes 15 prospecting licences and two exploration licences covering around 78 sq km in Western Australia’s Murchison region.