Thunder Gold Reports Multiple Surface Rock Samples up to 13.2 g/t Au at the 100%-Owned Tower Mountain Gold Property in Ontario
Thunder Gold Reports Multiple Surface Rock
Samples up to 13.2 g/t Au at the 100%-Owned
Tower Mountain Gold Property in Ontario
Thunder Bay, Ontario--(Newsfile Corp. - November 5, 2024) - Thunder Gold Corp (formerly White Metal
Resources Corp) (TSXV: TGOL) (FSE: Z25) (OTCQB: TGOLF) ("Thunder Gold" or the "Company") is
pleased to provide the following update on exploration activity at its 100%-owned, 2,500 hectare, Tower
Mountain Gold Property, located in the Shebandowan Greenstone Belt, 50 kilometres west of the port
city of Thunder Bay, Ontario.
Highlights:
Surface rock samples have returned values ranging from 0.75 g/t to 13.4 g/t Au within a
silicified, pyrite rich monzonite intrusive at the P-Target (P Zone), along the eastern
contact of the Tower Mountain Intrusive Complex ("TMIC").
1,000 metres of trail access to the P-Target has been established.
600m
2
of outcrop has been stripped and 65 linear metres of trenching have been
completed at the P-Target exposing a 15-metre wide mineralized and silicified monzonite
along an interpreted 75-metre strike length.
Detailed mapping and continuous saw-cut channel sampling of the P-Target is complete,
and assay results are pending.
A man-portable diamond drill has been mobilized and a series of shallow drill holes are
underway, testing the P-Target below the cut channel samples.
Soil geochemical sampling over 60% of the 100% owned claim bock (1,500 ha) is
complete and assay results are expected in November.
Reconnaissance mapping and sampling of the Thunder Lake and Crayfish fault corridors
is ongoing and,
Detailed metallurgical and mineralogical study of representative, composite samples,
collected from historical drill core along the western contact of the TMIC is in progress
with an estimated completion in December.
Approximately 1,000 metres of trail has been established accessing the P-Target. Historical rock
sampling (by others) indicates high tenor gold in rock grab samples persist along approximately 150
metres of strike length. Historical results ranged from 1.58 to 27.2 g/t Au (averaging ~ 6.0 g/t Au). These
initial results are an order-of-magnitude higher than any other surface target identified to date within the
Company's 100% owned Property.
Approximately 600 square metres of outcrop has been stripped to date. Eight (8) priority rock grab
samples, collected from the newly exposed mineralized monzonite returned values ranging from 0.75 g/t
to 13.4 g/t Au (average 4.82 g/t Au) across an approximate 15.0 metre width perpendicular to the
interpreted east-west trend defined by the historical sampling.
Detailed mapping has identified a sulphide rich silicified monzonite, elongated along an east-west axis,
within a larger syenite intrusive unit. The mineralized monzonite varies from 12-15 metres in width. The
mineralized intrusive is truncated to the west by a later gabbroic intrusive but the historical surface rock
grab samples suggest that the mineralized monzonite may continue to the west beyond the exposed
gabbro. To the east, a 65-metre-long trench completed 50 metres to the southeast of the stripped
outcrop, intersected the southern contact of the mineralized monzonite, suggesting a strike length of 75
metres. (REF. FIGURE 1.0).
Figure 1.0 - P Zone Geology with Historical and 2024 Rock Sample Results
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5364/228879_feb93661f45b7a26_001full.jpg
Three (3) parallel, continuous, saw-cut channel sample lines have been completed. The channels are
oriented perpendicular to the observed strike of the mineralized monzonite. Assay results are expected
by the end of November. Based on the promising visual observations, the Company has deployed the
recently purchased, man-portable diamond drill to complete shallow holes under the P-target channel
samples. The current plan is to complete a series of shallow holes (less than 40 metres depth), probing
the mineralized monzonite below the channel samples. Drilling will continue until cold weather affects
drilling productivity.
Wes Hanson, President and CEO stated, "We made the decision to deploy capital from our latest
financing where it offers the most potential benefit to our shareholders, exploring our 100%-owned
property offering the potential for a large-tonnage gold discovery immediately adjacent to built,
provincially maintained, infrastructure. The soil geochemistry, accessing and stripping of the P-Target
announced earlier were completed on time and on budget. The P-target is our first look at the unexplored
eastern perimeter of the TMIC.
Visual observations have exceeded even our most optimistic
expectations, and we have decided to immediately deploy our man-portable diamond drill to test the P-
Target below surface rather than delay drilling to await the results of the channel sampling. Our current
plan is to complete as many shallow drill holes as possible along the exposed mineralized intrusive with
step out holes to the east and west, weather permitting."
"We believe that the intrusive suite of rocks plays a vital role in the gold distribution regionally within the
Shebandowan Greenstone Belt. We are fortunate that Tower Mountain is the largest, exposed intrusive
center for a 20-kilometre radius. These results certainly support our assertion that select phases of the
TMIC are highly prospective for gold mineralization. Mineralized intrusive rocks with gold grades greater
than 1.0 g/t are common throughout the drill record collected along western perimeter of the TMIC.
We
anticipate drill results by mid-December, weather permitting."
The initial soil geochemical sampling is complete and assay results are pending. The soil geochemical
sampling covers the northern half of the 100% owned Tower Mountain Property. Sample lines were
spaced 200 metres apart with samples collected every 50 metres along each line providing
approximately 1,500 ha of coverage. Once results are received, the Company will interpret the results in
conjunction with pre-existing geophysical surveys to identify and prioritize targets for future drilling.
Metallurgical and mineralogical studies of representative samples collected from the eastern margin of
the TMIC are in progress. The work, performed by SGS Canada, is expected to be complete in
December.
The reader is cautioned that rock grab samples are selective by nature and may not represent the true
metal content of the mineralization to be found on the Property.
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 NI 43-101.
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 meters 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, ON 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.
The above does not apply to historical samples collected by others.
About the Tower Mountain Gold Property
The 100%-owned Tower Mountain Gold Property is located adjacent to the Trans-Canada highway,
approximately 50-km west of Thunder Bay, Ontario. The 2,500-hectare Property surrounds the largest,
exposed, intrusive complex in the eastern Shebandowan Greenstone Belt where most known gold
occurrences have been described as occurring either within, or proximal to, intrusive rocks. Gold at
Tower Mountain is localized within extremely altered rocks parallel to the western contact of the intrusive
center. Drilling has established anomalous gold extending out from the intrusive contact for over 500
metres along a 1,500-metre strike length, to depths of over 500 metres from surface. The remaining
75% of the perimeter surrounding the intrusion shows identical geology, alteration, and geophysical
response, offering a compelling exploration opportunity.
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, P.Geo., President and CEO
For further information contact:
Wes Hanson, CEO
(647) 202-7686
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER
(AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE)
ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
The information contained herein contains "forward-looking information" and "forward-looking
statements" within the meaning of applicable securities legislation (collectively, "forward-looking
statements"). Forward-looking statements relate to information that is based on assumptions of
management, forecasts of future results, and estimates of amounts not yet determinable. All
statements, other than statements of historical fact, are forward-looking statements and are based on
predictions, expectations, beliefs, plans, projections, objectives and assumptions made as of the date
of this news release, including without limitation; anticipated results of geophysical drilling programs,
geological interpretations and potential mineral recovery. Any statement that involves discussions
with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future
events or performance (often but not always using phrases such as "expects", or "does not expect", "is
expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts",
"estimates", "believes" or "intends" or variations of such words and phrases or stating that certain
actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved)
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 or
reliance on 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 any forward-looking
statements, other than as required by applicable law, to reflect new information, events or
circumstances, or changes in management's estimates, projections or opinions. Actual events or
results could differ materially from those anticipated in the forward-looking statements or from the
Company's expectations or projections.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/228879