Thunder Gold Extends Mineralized Footprint at Tower Mountain; Results Include 0.59 g/t Au over 36.3 Metres
Thunder Gold Extends Mineralized Footprint at
Tower Mountain; Results Include 0.59 g/t Au
over 36.3 Metres
Thunder Bay, Ontario--(Newsfile Corp. - May 15, 2023) - Thunder Gold Corp. (TSXV: TGOL) (FSE: Z25)
(OTCQB: TGOLF) (formerly White Metal Resources Corp) ("Thunder Gold" or the "Company") is
pleased to announce final results from the 4,000 metre Phase One drilling program at the Tower
Mountain Gold Property, 50-km west of Thunder Bay, Ontario, which confirm the expected outline of a
large-tonnage, low-grade gold mineral resource.
Highlights:
TM23-139 intersected
0.56 g/t Au over 10.5 metres
within a broader interval that assayed
0.17
g/t Au over 250.4 metres
.
TM23-140 intersected
0.53 g/t Au over 24.5 metres
and
0.46 g/t Au over 16.3 metres
.
TM23-143 intersected
0.59 g/t over 36.3 metres
and
1.12 g/t over 13.4 metres
.
TM23-136, 137, 138 and 139 define an approximately 300 x 300-metre block of mineralization
suggesting continuity between the Ellen and A targets, a 500-metre strike length open along strike.
Phase One drilling was completed on time and on budget, all-in exploration costs of approximately
$260 per metre.
Wes Hanson (P.Geo.), CEO of Thunder Gold notes
: "We are encouraged with the results of this drilling
program. First and foremost, we established continuity between the A and Ellen targets with holes
TM23-137 and 138, adding close to 100,000 square metres of prospective mineralization, to depths of
approximately 200 metres from surface. We also reported the highest grade ever reported at Tower
Mountain in hole TM23-137 which assayed 941.0 g/t Au over 1.5 metres, in the same prospective
mineralized block between the A and Ellen targets and which had previously been untested."
Table 1 summarizes all of the Phase One drilling results, including those holes previously reported March
20, 2023 (grey shading). Results are provided at cut-off grades of 0.00 (entire hole), 0.10 and 0.30 g/t
Au, respectively. The Company considers 0.30 g/t Au to be an appropriate cut-off grade for a large-
tonnage, low-grade mineral resource. In addition, a minimum horizontal width of 6.0 metres,
(approximately 9.0 metres down-hole) was used to filter reported intervals. A minimum 50% of the
horizontal interval must exceed the cut-off grade and the average grade of the interval reported must be
greater than the cut-off grade. Individual sample results greater than 15.0 g/t Au have been capped to
15.0 g/t Au.
According to Mr. Hanson: "
Eleven (11) of twelve (12) holes intersected broad intervals of low-grade
gold mineralization with 48% of the total metres drilled assaying greater than 0.10 g/t Au. Nine (9) of
twelve (12) holes intersected sustained intervals (+9.0 metres down-hole) above a cut-off grade of 0.30
g/t Au. Over 40% of the sampled intervals within the A-Ellen target gap returned grades in excess of
0.30 g/t Au. The decreased gold grades associated with holes TM23-139 to 142 were disappointing,
especially considering the significant increase in pyrite content, however, this area did return long
intervals with greater than 0.10 g/t Au, supporting our exploration model.
"Most encouraging of all, exploration elsewhere in the Shebandowan Greenstone Belt is reporting
similar results to the historical drill holes completed at Tower Mountain. Over twenty-five (25) historical
drill holes at Tower Mountain intersected gold grades and intervals greater than the best results from
the Phase One drilling program, including:
TM04-09 (1.95 g/t Au over 78 metres) UV target;
TM04-03 (1.90 g/t Au over 52.5 metres) UV target;
TM21-108 (3.95 g/t Au over 23.9 metres) A target, and
TM22-135 (0.78 g/t Au over 150.0 metres) Bench target.
"These historical results compare very favourably to results being reported at Delta Resources
Limited's' Delta 1 property, over ten (10) kilometres to the northwest of Tower Mountain, along the
predominant, northwesterly trending regional fabric. I find this development very exciting especially as
we have over 10,000 metres of highly prospective IP chargeable anomalies to test within our claim
block. Our short term plan is to complete a thorough review/analysis of Phase One, prioritize our most
prospective IP targets, conduct surface mapping/prospecting of the selected targets and work towards
a follow-up drilling campaign in Q3 or Q4-2023."
Phase One drilling focused on the strongest, N-S trending, IP chargeable anomaly identified in the 2020
IP survey (Ref. Figure 1.0). The drilling program was designed to test the observed direct correlation
between elevated gold grades and IP chargeability identified from analysis of historical data.
Holes TM23-136 through 143 were drilled due east and spaced on 100-metre sections perpendicular to
the longitudinal axis of the strongest, undrilled, IP chargeable anomaly identified to-date. The IP anomaly
is oriented in a N-S direction, parallel to the inferred lithological contact between dominantly volcanic
rocks to the west with the alkalic intrusive rocks of the Tower Mountain Intrusive Complex ("TMIC") to the
east. Drilling indicates that the volcanic rocks suffered intense brittle deformation. Approximately 25% of
the contact area consists of variable intrusive rocks ranging from feldspar porphyries to fine grained
syenites. Approximately 50% of the intrusive suite is gold bearing and appears to upgrade the baseline
gold contained in the volcanic rocks. The contact (and associated IP chargeable anomaly) extends over
1,000 metres to the north and scant historical drilling tested the chargeable anomaly.
Holes TM23-144 to 147 were all drilled due south, checking an inferred E-W response identified in
historical literature and demonstrated in some of the IP 3D-inversions. Hole TM23-144, on the fringe of
the A-Ellen gap returned low-tenor gold grades. Holes TM23-145 and 146, the most distal holes to the
TMIC,
did not return any significant mineralized intercepts of note. Hole TM23-147, the final hole
completed, was drilled at the northern limit of the interpreted chargeable anomaly probing for the
Crayfish Fault, a regional scale E-W trending fault near the northern limit of the Property.
Figure 1.0 presents the final Phase One drill hole plan at Tower Mountain. Gold grade histograms are
plotted for the 2023 Phase One holes only. Only gold intercepts greater than the 0.30 g/t Au cut-off grade
are shown. All assay intervals greater than 15.0 g/t Au are capped to 15.0 g/t Au to calculate weighted
average gold intercepts. A minimum horizontal width of 6.0 metres was used to limit interval reporting.
Table 1 - Summary of Phase One Drilling Results
Cut-off 0.00 g/t Au
Cut-off 0.10 g/t AU
Cut-off 0.30 g/t Au
Hole ID
From
To
Interval
Au
From
To
Interval
Au
From
To
Interval
Au
(m)
(m)
(m)
(g/t)
(m)
(m)
(m)
(g/t)
(m)
(m)
(m)
(g/t)
TM23-136
7
402
395
0.19
64.5
109.0
44.5
0.324
64.5
88.5
24.0
0.408
126.5
153.5
27.0
0.124
172.0
188.5
16.5
0.328
172.0
184.0
12.0
0.398
209.5
233.6
24.1
0.336
250.0
288.0
38.0
0.187
312.5
373.0
60.5
0.455
344.3
373.0
28.7
0.489
TM23-137
3.34
408
404.7
3.83
33.0
62.0
29.0
0.185
104.5
146.9
42.4
33.992
104.5
145.5
41.0
35.144
3.34
408
404.7
0.45
104.5
146.9
42.4
1.233
104.5
145.5
41.0
1.266
186.0
275.0
89.0
0.398
187.5
227.0
39.5
0.539
297.5
408.0
110.5
0.553
249.5
271.5
22.0
0.531
300.5
358.5
58.0
0.828
TM23-138
2.6
351
348.4
0.37
41.5
67.4
25.9
0.889
43.0
60.5
17.5
1.265
78.5
217.0
138.5
0.634
83.0
202.0
119.0
0.715
270.0
351.0
81.0
0.129
TM23-139
6.00
351.00
345.00
0.142
52.5
302.9
250.4
0.170
162.0
172.5
10.5
0.559
TM23-140
11.00
354.00
343.00
0.132
98.0
127.5
29.5
0.461
100.5
125.0
24.5
0.526
181.8
211.0
29.3
0.171
322.5
351.0
28.5
0.325
330.3
346.5
16.3
0.455
TM23-141
1.30
351.00
349.70
0.094
131.6
192.0
60.4
0.111
230.0
295.5
65.5
0.122
313.0
351.0
38.0
0.270
316.0
326.5
10.5
0.316
335.0
351.0
16.0
0.376
TM23-142
2.00
351.00
349.00
0.129
2.0
15.0
13.0
0.162
127.5
156.0
28.5
0.344
141.0
151.5
10.5
0.492
178.5
196.5
18.0
0.125
274.5
351.0
76.5
0.223
306.0
322.5
16.5
0.349
TM23-143
4.50
402.00
397.50
0.219
22.5
117.0
94.5
0.355
58.3
94.5
36.3
0.592
130.5
298.5
168.0
0.249
268.7
282.0
13.4
1.120
TM23-144
9.00
252.00
243.00
0.138
9.0
36.0
27.0
0.335
9.0
31.5
22.5
0.361
60.0
75.0
15.0
0.197
88.5
105.0
16.5
0.130
123.0
198.0
75.0
0.168
TM23-145
9.00
225.00
216.00
0.068
24.3
102.0
77.7
0.119
No Significant Values
TM23-146
6.00
201.00
195.00
0.034
No Significant Values
No Significant Values
TM23-147
3.10
201.00
197.90
0.103
126.0
181.5
55.5
0.206
No Significant Values
All intervals assume a minimum horizontal interval length of 6.0 metres
Maximum interval below cut-off grade of 6.0 metres (horizontal)
All individual samples reporting a gold grade greater than 15.0 g/t Au have been capped to 15.0 g/t Au.
FIGURE 1 - Tower Mountain Phase One Drill Hole Plan
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5364/166037_2f5c9e5b94163898_002full.jpg
Quality Assurance and Quality Control
Diamond drilling utilizes NQ diameter tooling. The core is received at the on-site logging facility where it
is, photographed, logged for geotechnical and geological data and subjected to other physical tests
including oriented core measurements and magnetic susceptibility analysis. Samples are identified,
recorded, split by wet diamond saw or hydraulic splitter, and half the core is sent for assay with the
remaining half stored on site. A standard sample length of 1.5 metres is employed, varying only at major
lithological contacts. Certified standards and blanks are randomly inserted into the sample stream and
constitute approximately 5-10% of the sample stream.
Standard and blank performance is monitored
with any failures evaluated and investigated to determine if said failure is a result of error during
submission. Any unexplained failures are identified and the five samples preceding and following the
failure are re-assayed. Standards and blanks are inserted into the re-assayed interval stream as well to
monitor analytical performance. Samples are shipped to the Activation Laboratories Ltd. facility in
Thunder Bay, Ontario where sample preparation and analyses are completed. All samples are analyzed
for gold using a 30-gram lead collection fire assay fusion with an atomic adsorption finish. All results
greater than 5.0 g/t Au are re-assayed using a gravimetric analysis. All samples are also analyzed for
35-element induced coupled plasma analysis.
Okohongo Property, Namibia
Further to the November 2, 2022 news release, the Company has extended the terms of its debenture
with Himba Metals to October 28, 2023, in reference to Himba's option to acquire a 95% interest in the
Okohongo copper project in Namibia.
Qualified Person
Technical information in this news release has been reviewed and approved by Wes Hanson, P.Geo.,
President and CEO of Thunder Gold Corp., who is a Qualified Person under the definitions established
by National Instrument 43-101.
About the Tower Mountain Gold Property
The Tower Mountain Gold Property is located 5-km off the Trans-Canada highway, 50-km west of
Thunder Bay, Ontario. The Property lies within the late Archean Shebandowan greenstone belt, an
emerging gold district in northwestern Ontario. The Property consists of unpatented and patented lands
totalling 1,968 hectares.
Exploration to-date suggests the Property offers a large gold endowment. Gold
mineralization is widespread, and diamond drilling has identified low-grade gold mineralization
extending outward for at least 500-metres from a central alkalic intrusion known as the Tower Mountain
Intrusive Complex. Drilling has established persistent gold grades from 0.1 to 1.0 g/t Au along a 1,500-
metre-long x 500-metre wide x 500-metre deep block of volcanic-volcanoclastic rocks immediately west
and adjacent to the central alkalic intrusion. The remaining 6,000 metres of strike length surrounding the
intrusion are untested. Tower Mountain shows many of the classic indicators of being an Intrusion
Related Gold Deposit, which is a highly desirable exploration target.
About Thunder Gold Corp.
Thunder Gold Corporation, formerly White Metal Resources. is a junior exploration company focused on
gold discovery in Canada.
For more information about the Company, please visit
www.thundergoldcorp.com
.
On behalf of the Board of Directors,
Wes Hanson, President and CEO
For further information contact:
Wes Hanson, CEO
(647) 202-7686
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
The information contained herein contains "forward-looking statements" within the meaning of
applicable securities legislation. Forward-looking statements relate to information that is based on
assumptions of management, forecasts of future results, and estimates of amounts not yet
determinable. Any statements that express predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or performance are not statements of historical fact and may
be "forward-looking statements."
Forward-looking statements are subject to a variety of risks and uncertainties which could cause
actual events or results to differ from those reflected in the forward-looking statements, including,
without limitation: risks related to failure to obtain adequate financing on a timely basis and on
acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks
associated with mining and exploration; risks related
to the maintenance of stock exchange listings;
risks related to environmental regulation and liability; the potential
for delays in exploration or
development activities or the completion of feasibility studies; the uncertainty of profitability; risks and
uncertainties relating to the interpretation of drill results, the geology, grade and continuity
of mineral
deposits; risks related to the inherent uncertainty of production and cost estimates and the potential
for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility
that future
exploration, development or mining results will not be consistent with the Company's
expectations; risks related
to the gold price and other commodity price fluctuations; and other risks
and uncertainties related to the Company's
prospects, properties and business detailed elsewhere in
the Company's disclosure record. Should one or more
of these risks and uncertainties materialize, or
should underlying assumptions prove incorrect, actual results may vary materially from those
described in forward-looking statements. Investors are cautioned against attributing undue certainty to
forward-looking statements. These forward-looking statements are made as of the
date hereof and the
Company does not assume any obligation to update or revise them to reflect new events or
circumstances. Actual events or results could differ materially from the Company's expectations or
projections.
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