Thunderbird Minerals Corp. Options the Apache Copper-Gold Property in Kern County, CA, USA
Thunderbird Minerals Corp. Options the Apache Copper-Gold Property in Kern County, CA, USA
Vancouver, August 8th, 2023 – Thunderbird Minerals Corp. ( TSXV: BIRD) (“Thunderbird” or the
“Company”) is pleased to announce that the Company has signed a mineral lease and option agreement
dated July 24, 2023 with Bull Mountain Resources, LLC (“BMR”), for the Apache property, California (the
“Apache Project”), whereby Thunderbird has been granted the exploration and development rights for
the Apache Proje ct for a minimum of 50 years as long as preproduction payments are maintained and
then for an indefinite period of time thereafter as long as mining operations are continued.
California ranks as one of the premier gold districts, with historic production of approximately 140 million
ounces of gold from lode and placer sources (Knopf 1929; Clark 1992, Bohlke 1999, Walker 2001). The
Apache Project is located in the mineral-rich Mojave Desert region of Southern California (Figure 1). The
southern California desert is host to multiple active mines, including: Equinox Gold’s Castle Mountain and
Mesquite mines, Rio Tinto’s Boron Mine complex, and Golden Queen Mining’s Soledad Mountain Project.
In addition, Apollo Gold and Silver owns th e Calico silver-barite project, which hosts one of the largest
undeveloped silver deposits in the western US (Figure 2) . Kern County , where the Apache Project is
located, has a long history of supporting responsible resource development.
The Apache Projec t consists of 152 unpatented lode mining claims ( approximately 1,200 hectares)
surrounded by numerous historic and active small placer gold mining pits and digs. The Apache property
shows no evidence of historic drilling and overlies only a few hardrock prospect pits, shafts, and tunnels.
Mineralization within the Apache property is primarily hosted in Paleozoic calcareous sediments and
meta-sediments within a structural corridor that has strong similarities to other districts in the Sierra
Foothills Metamorphic (California) and Walker Lane (Nevada) mineral belts.
The claims overla y a 3. 0 km x 1.2 km alteration footprint with significant quartz -sericite-pyrite (QSP),
silicification and argillization of the meta-sediments and intrusive host rocks. Rock chip sampling revealed
widespread gold (Au) and copper (Cu) anomalies with grades up to 7.46 g/t Au and 4.34% Cu (see Figure
3, 4 and 5). Sulfide minerals, however, have typically been leached from surface exposures. This target is
interpreted to be the high -level exposure of an extensive Cu -Au porphyry system further defined by
geophysical magnetic and electro -magnetic (EM) anomalies consistent with porphyry systems .
Additionally, there are several outlying target zones also marked by magnetic, gravity and EM anomalies
with similar characteristics to other oxide-gold and Cu-Au porphyry systems in the region.
TSX-V: BIRD
THUNDERBIRD MINERALS CORP.
#2110 -650 West Georgia Street
Vancouver, British Columbia
Canada, V6B 4N9
Telephone: 604 568 8807
Facsimile: 604 681 1864
www.thunderbirdminerals.ca
John Newell, President and CEO of Thunderbird, states:
The management of Thunderbird Minerals is thrilled to have the opportunity to advance the year -round
Apache Project in Kern County, California. “The Apache Project was discovered by Mr. Perry Durning and
Mr. Bud Hillemeyer, the principals of BMR, both having a wealth of experience in mineral exploration. They
are excellent grassroots explora�onists renowned for mineral discoveries, and mine and project
development. The geological team at Thunderbird looks forward to the prospect of adding another
potential deposit to the pair’s impressive list of discoveries.”
About Bull Mountain Resources
Bull Mountain Resources, whose principals are Perry Durning , Frank (Bud) Hillemeyer, and Nick
Hillemeyer, was formed in 2020. Durning and Hillemeyer, who originally operated under La Cuesta
International, Inc. (LCI), received the PDAC Thayer Lindsley International Mineral Discoveries Award in
2010 jointly, in recognition of their outstanding record of grassroots discoveries in Mexico. The coveted
Thayer Lindsley International Mineral Discoveries Award is presented annually by the PDAC in memory of
Thayer Lindsley, one of the Canada’s greatest mine -finders. Additionally, Perry Durning and Frank
Hillemeyer discovered the Los Gatos silver-base-metal deposit after receiving the Thayer Lindsley Award.
In total, Durning and Hillemeyer have discovered over 820 million ounces of silver, 14.3 million ounces of
gold and nearly 9 billion pounds of copper, lead, and zinc (Total past production and all resource categories
for deposits attributed to their discoveries).
Apache Proj ect Highlights
• The Apache Project is located at the intersection of major northwest and northeast trending fault
systems that have likely concentrated magmatic activity in the area. These structures typically act as
conduits for mineralized fluids. The property has strong potential to hos t economic low- and high-
sulphidation gold systems and Cu-Au porphyry systems.
• Two targets have been delineated on the property to date. The Apache target is a high-level porphyry
target with multiple intrusive stocks with a strong gold-copper association. The Garlock target is an
exposed porphyry copper stock with significant skarn alteration within host meta-sedimentary rocks.
Over 500 rock chip samples have been collected on the property to help define specific target areas.
• Anomalous gold and copper assays in the Apache target vicinity occur within a 3.0 x 1.2 km area with
grades up to 7.46 g/t Au and 4.63% Cu (Figure 3).
• Anomalous gold and copper assays in the Garlock target area extend over a 1.2 x 0.75 km area with
grades up to 4.63 g/t Au and 7.82% Cu (Figures 6 and 7).
• Multiple drainages were tested by stream silt sampling. Of 45 drainages sampled, 28 returned values
of 20 ppb Au or higher , and 8 returned values greater than 100 ppb Au with a high of 1 ,085 ppb Au
(1.085 g/t Au). Not all anomalies have been followed-up by ground-based exploration.
• No verified historical drilling has been recorded; therefore, geochemical and geophysical anomalies
remain untested.
Transaction Details
Under the terms of the mineral lease and option agreement, Thunderbird has the rights to the Apache
Project for exploration and mining for a minimum of 50 years provided it continues to make the following
preproduction payments:
• US$28,000 upon signing of the agreement (the “Effective Date”).
• US$10,000 6-months after the Effective Date;
• US$10,000 12-months after the Effective Date;
• US$15,000 18-months after the Effective Date;
• US$15,000 24-months after the Effective Date;
• US$20,000 30-months after the Effective Date and every 6 months thereafter.
Thunderbird is also obligated to fulfill the following minimum work commitments (comprised of
exploration, development or mining expenditures) on the Apache Project as follows:
• $50,000 in Year 1;
• $50,000 in Year 2;
• $50,000 in Year 3;
• $100,000 in Year 4 and every year thereafter.
On achievement of production on the Apache Project , a production royalty of 2% of net smelter returns
is payable on claims owned by BMR and newly located claims by Thunderbird within the area of interest.
Also, 0.5% of net smelter returns is payable on third party claims and claims acquired from third parties
within the area of influence, provided that a minimum production royalty of US$20,000 is payable
quarterly. On paym ent to BMR of US$10,000,000 in any combination of pre -production payments,
production royalties and minimum royalties, the production royalty on claims owned by BMR reduces to
1%, and on third -party claims and claims acquired from third parties within the area of influence , the
royalty reduces to 0.25%.
Figure 1: Location of the Apache Project with regard to regional geology. Sierra Nevada Metamorphic Belt rocks, which underlie
the project area, were intruded by the younger Sierra Nevada Batholith. Figure is modified after Irwin, 1999.
Figure 2: The Apache Project location is within the mineral-rich Mojave Desert region of Southern California.
Figure 3: Several exposure levels of the porphyry system are interpreted across the ~3 km trend of alteration and mineralization at the Apache Target.
Figure 4: Photo of the NW zone of elevated Cu-Au values in close proximity to mapped altered dikes.
Figure 5: Photo of the southeast zone of elevated Au values that are potentially outlining a higher-level exposure of a porphyry system.