Thunder Mountain Gold Reports Significant Drill Intercepts in the Texas Zone at its High-Grade Polymetallic South Mountain Project
THUNDER MOUNTAIN
GOLD INC.
11770 W. President Dr., Ste. F
Boise, Idaho 83713
phone: (208) 658-1037
Website: www.thundermountaingold.com OTCQB: THMG
TSX-V: THM
TSX-V: THM
OTCQB: THMG
News Release
Thunder Mountain Gold Reports Significant Drill Intercepts in the Texas Zone at its
High-Grade Polymetallic South Mountain Project
Boise, Idaho and Vancouver B.C. – February 22, 2021: Thunder Mountain Gold, Inc. (OTC QB: THMG;
TSX-V: THM), (the “Company” or “THMG”) is pleased to report on the latest analytical results from its Phase
2 underground diamond drilling program at the high -grade South Mountain Zinc -Silver-Gold-Copper Project
(“South Mountain” or “South Mountain Project” or the “P roperty”) in southwestern Idaho, U.S.A. The
Company`s 2020 drill results demonstrate that South Mountain’s Texas Zone contains both high -grade Copper-
Silver and Zinc -Silver-Gold mineralization (See Tables 1 and 2) . The Company’s core drilling program
intersected mineralization at depths beyond any historical drilling of the Texas Zone and the deposit remains
open to depth (See Figure 1). Further drilling results will be reported when received from the laboratories.
DRILL HOLE HIGHLIGHTS
TEXAS WEST ZONE:
• SM20-028: 35.6 feet ( 10.85 met ers) grading 2.56% copper (“Cu”), 7.59 ounces per ton (“ opt”)
(260.1 grams per tonne (“g/t”)) silver (“Ag”), 0.008 opt (0.26 g/t) gold (“Au”), 0.10% lead (“Pb”)
and 0.13% zinc (“Zn”)
• SM20-038: 25 feet (7.62 meters) grading 1.64% Cu, 8.15 opt (279.5 g/t) Ag, 0.022 opt (0.74 g/t) Au,
0.86% Pb and 0.55% Zn
• Including: 16.96 feet (5.17 meters) grading, 2.23% Cu, 9.86 opt (337.9 g/t) Ag, 0.030 opt (1.02
g/t) Au, 1.12% Pb and 0.77% Zn
• SM20-043: interval 1: 23 feet ( 7.01 meters) grading 2.84% Cu, 5.29 opt (181.5 g/t) Ag, 0.01 opt
(0.22 g/t) Au, 0.01% Pb and 0.29% Zn
• Including: 15.7 feet (4.79 meters) grading, 3.81% Cu, 7.82. (244.3 g/t) Ag, 0.006 opt (0.17 g/t)
Au, 0.01% Pb and 0.07% Zn
TEXAS EAST ZONE:
• SM20-050 Interval 2: 27.4 feet (8.35 meters) grading 4.17% Zn, 5.68 opt (194.8 g/t) Ag, 0.118 opt
(4.05 g/t) Au, 0.78% Pb and 0.54% Cu
Note: ALS Global completed the analytical work with the core samples processed at their preparation facility in Reno,
Nevada, U.S.A. All analytic al and assay procedures are conducted at the ALS laboratory in North Vancouver, BC.
Reported widths are drilled core lengths as true widths are unknown at this time. It is estimated based upon current data
that true widths might range between 60-80% of the drilled intersection.
Examples of intersection grades for the two distinct Texas zones are:
• 3.81% Cu with 5.29 opt (244.3 g/t ) Ag over 15.7 feet ( 4.79 meters) in hole SM20 -043 (Interval 1) ,
2.56% Cu with 7.59 opt (260.1 g/t) Ag over 35.6 feet (10.85 meters) in hole SM20 -028, both in Texas
West, and
• 4.17% Zn, 5.68 opt (194.8 g/t ) Ag and 0.118 opt (4.05 g/t ) Au over 27.4 feet ( 8.35 meters) in hole
SM20-050 from Texas East.
It should be noted that these examples are supported by other anomalous intersections (See Tables 1 & 2).
The Texas Mineralized zone is separate from the DMEA massive sulfide zone that was the focus of the 2019
drill program, to which some holes were added in 2020. This drilling confirmed the DMEA mineralization to a
greater depth and proved continuity between previous intercepts.
“We are extremely pleased with the 2019 and 2020 drill programs. We are confident that these results will add
significant tonnage to the existing resource estimate. ”, commented Eric Jones, Presid ent and CEO of Thunder
Mountain Gold. “This data, along with a dditional metallurgy and hydrology testing , as well as rock mechanics
and mine modelling scheduled for the first half 2021, will all be incorporated in the 2021 Preliminary Economic
Assessment (“PEA”) study for South Mountain, expected to be completed during Q3 of this year. “
PHASE 2 TEXAS ZONE DRILLING - SOUTH MOUNTAIN PROJECT
A total of 8,904 feet (2,714 meters) of underground core drilling was completed during Phase 2, with 30 holes
in both the Texas and DMEA zones. During this drilling campaign, our site team widened and advanced the
existing Sonneman level eastwards by 170 feet ( 52 meters) to establish a new drill station closer to the Texas
Zone (See Figure 1). With better access to d rill the Texas Zone, a total of 24 holes were completed to test this
zone of mineralization. Geological logging of the core supported by sampling results indicate that two styles of
high-grade mineralization have developed in this area and are now identifi ed as the Texas West and Texas East
zones.
Table 1 below illustrates the drilling results received to date from the Texas West Zone. This zone is
characterized by skarn-hosted, dominantly copper and silver mineralization. This is demonstrated, for example ,
in the drilled intercepts:
• 3.81% Cu with 7.82 opt (244.3 g/t) Ag over 15.7 feet (4.79 meters) in hole SM20-043 (Interval 1),
• 2.56% Cu with 8.32 opt (260.1 g/t) Ag over 35.6 feet (10.85 meters) in SM20-028, and
• 2.23% Cu with 10.81 opt (337.9 g/t) Ag over 16.96 feet (5.17 meters) in hole SM20-038.
Important to note that from the geological logging of the core, the higher copper grades over significant drilled
widths in Texas West appear to be controlled by the increased abundance of chalcopyrite, which is a common
copper sulphide mineral, often extractable through conventional flotation methods. Representative sample
material of this and other zones of the deposit have been identified and are being collected for metallurgical test
work at the SGS Miner al Servi ces s ite in Lakefield, Canada. Results from this study will be included with
historical test work and incorporated into the planned PEA study later this year.
Table 2 below displays the drill hole intersections from the Texas East Zone where this mineralization is
represented by predominantly massive sulphide hosted zinc, silver , and gold mineralization. Examples of this
style of mineralization are intercepts:
• 8.65% Zn, 6.98 opt (218.1 g/t) Ag and 0.078 opt (2.44 g/t) Au over 11 feet (3.37 meters) in hole SM20-
043 (Interval 2), and
• 4.17% Zn, 6.23 opt (194.8 g/t ) Ag and 0.130 opt (4.05 g/t ) Au over 27.39 feet ( 8.35 meters) in hole
SM20-050.
The gold grades of 0.130 opt (4.05 g/t) over 27.39 feet (8.35 meters); 0.066 opt (2.07 g/t) over 15.45 feet (4.71
meters) and 0.122 opt. (3.82 g/t) over 4.39 feet ( 1.34 meters) in holes SM20 -050, SM20-043, and SM20 -029,
respectively, are of specific interest from a value potential for the Texas East Zone. These Texas East
intersections represent the successful t argeting and interpreted extension of mineralization below historical
high-grade rib sampling in the Sonneman level from the 1980s (See Figure 1) . (See Thunder Mountain Gold
news release, dated; January 27, 2020).
The 2020 drill program has delivered on i ntersecting mineralization extending the Texas Zone further down dip
of historical drilling and the exposures in the underground development. Texas Zone mineralization is now
interpreted to continue from the collar of the old Texas Shaft some 1,150 feet ( 350 meters) down dip to the
SM20-050 intercept. Both the Texas West and East zones remain open to depth (See Figure 1). Table 3 further
below provides drill hole azimuth, dip, end of hole length and collar coordinates for each of the reported drill
holes.
Table 1. Analytical and Assay Results from Texas West Zone
Drill Hole ID, Zone From To Core
Interval
(ft)
Cu %
Ag Au
Pb % Zn % & Interval (ft) (ft) opt opt
TEXAS WEST
ZONE
SM20-028 198.95 234.55 35.60 2.56 7.586 0.008 0.1 0.13
SM20-030 54.89 82.09 27.20 1.13 3.649 0.003 0.02 0.26
SM20-031 136.09 140.58 4.49 1.56 8.940 0.012 1.09 2.21
SM20-033 110.79 119.49 8.69 2.77 7.330 0.011 0.03 0.15
SM20-036 112.40 143.70 31.30 0.99 9.243 0.007 0.39 2.15
SM20-038 106.00 131.00 25.00 1.64 8.152 0.022 0.86 0.55
INCLUDING: 106.00 122.97 16.96 2.23 9.855 0.030 1.12 0.77
SM20-041
INTERVAL 1: 63.71 73.88 10.17 1.29 5.177 0.003 0.07 0.04
INTERVAL 2: 104.20 109.19 4.99 0.44 4.947 0.069 0.91 1.99
SM20-042
INTERVAL 1: 58.99 65.19 6.20 1.92 3.004 0.002 0.01 0.03
INTERVAL 2: 78.08 83.99 5.91 1.06 3.325 0.002 0.03 0.1
Drill Hole ID, Zone From To Core
Interval
(ft)
Cu % Ag Au Pb % Zn %
SM20-043 (ft) (ft) Interval
(ft) opt opt
INTERVAL 1: 131.00 154.00 23.00 2.84 5.294 0.006 0.01 0.29
INCLUDING: 131.00 146.69 15.68 3.81 7.125 0.005 0.01 0.07
SM20-049
INTERVAL 1: 106.89 120.64 13.75 1.82 2.608 0.002 0.01 0.18
INTERVAL 2: 147.31 151.25 3.94 2.42 4.025 0.004 0.01 0.07
Analytical and Assay results are pending for drill holes SM20-32, 34, 35, 37, 39, 40, 44-48 and 51
Note: Reported widths are drilled core lengths as true widths are unknown at this time. It is estimated based upon current
data that true widths might range between 60 -80% of the drilled intersection. A nominal cut -off grade of 0.5% Cu has
been applied to determine the boundaries of the intersections for this skarn-hosted mineralization with no more than 1.22
meters of internal dilution. *A nominal cut-off grade of 4.375 opt (150 g/t) Ag has been applied to this intersection. Table
3 below documents; Drill Hole Azimuth, Dip, end of hole length, and Collar Coordinates (Note: See details below in
QA/QC section).
Table 2. Analytical and Assay Results from Texas East Zone
Drill Hole ID, Zone From To Core
Interval
(ft)
Zn %
Ag Au
Pb % Cu % & Interval (ft) (ft) opt opt
TEXAS EAST
ZONE
SM20-029 202.20 206.59 4.40 19.67 6.688 0.111 3.94 0.25
SM20-043
INTERVAL 2: 185.47 200.89 15.42 6.19 4.918 0.060 0.71 0.39
INCLUDING: 185.47 196.49 11.02 8.65 6.361 0.071 0.9 0.52
SM20-050
INTERVAL 1: 151.84 159.42 7.58 0.1 4.255 0.005 0.01 2.91
INTERVAL 2: 162.89 190.29 27.40 4.17 5.682 0.118 0.78 0.54
Analytical and Assay results are pending for drill holes SM20-32, 34, 35, 37, 39, 40, 44-48 and 51
Note: Reported widths are drilled core lengths as true widths are unknown at this time. It is estimated based upon current
data that true widths might range between 60 -80% of the drilled intersection. Intervals cut -offs are based upon visual
contacts of massive sulphide units with no more than 0.80 meters of internal skarn . For hole SM20 -050 Interval 1 . a
nominal cut-off grade of 0.5% Cu has been applied to determine the boundaries of the intersections for this skarn-hosted
mineralization. Table 3 below documents; Drill Hole Azimuth, Dip, end of hole length, and Collar Coordinates (Note: See
details below in QA/QC section).
Figure 1: 3D Perspective view inclined 20 0 looking north -north-east, with hole locations for SM20 -028
thru SM20-050
Table 3: Drill Hole Azimuth, Dip, End of hole length and Collar Coordinates
Hole ID Azimuth
Degree
Dip
Degree
End of
hole
Length (ft)
East
(ft.)
North
(ft.)
Elev.
(ft.)
SM20-028 90 15 246 2311764 393645 6866.77
SM20-029 126 -12 325 2311764 393645 6866.77
SM20-030 95 -30 125 2311764 393645 6866.77
SM20-031 110 -14 179 2311764 393645 6866.77
SM20-032* 105 -64 144 2311764 393645 6866.77
SM20-033 115 -30 205 2311764 393645 6866.77
SM20-034* 80 15 217 2311764 393645 6866.77
SM20-035* 105 14 78 2311764 393645 6866.77
SM20-036 105 -14 269 2311764 393645 6866.77
SM20-037* 100 -14 225 2311764 393645 6866.77
Hole ID Azimuth
Degree
Dip
Degree
End of
hole
Length (ft)
East
(ft.)
North
(ft.)
Elev.
(ft.)
SM20-038 110 -30 185 2311764 393645 6866.77
SM20-039* 122 -8 350 2311764 393645 6866.77
SM20-040* 105 -29 200 2311764 393645 6866.77
SM20-041 110 -40 185 2311764 393645 6866.77
SM20-042 87 -62 204 2311764 393645 6866.77
SM20-043 124 -20 399 2311764 393645 6866.77
SM20-044 124 -20 154 2311764 393645 6866.77
SM20-045* 0 -55 108 2311764 393645 6866.77
SM20-046* 127 -37 305 2311764 393645 6866.77
SM20-047* 60 -80 173 2311764 393645 6866.77
SM20-048* 135 -36 275 2311764 393645 6866.77
SM20-049 155 -60 205 2311764 393645 6866.77
SM20-050 150 -42 276 2311764 393645 6866.77
SM20-051* 170 -49 404 2311760 393643 6866.07
*The results pending for this drillhole.
QUALITY ASSURANCE AND QUALITY CONTROL PROCEDURES
The project employs a rigorous QC/QA program that includes blanks, duplicates and appropriate certified
standard reference material. All samples are introduced into the sample stream prior to sample
handling/crushing to monito r anal ytical accuracy and precision. The insertion rate for the combined QA/QC
samples is 10 percent or more depending upon batch sizes. ALS Global completed the analytical work with the
core samples processed at their preparation facility in Reno, Nevada, U.S.A. Al l analytical and assay
procedures are conducted in the ALS facility in North Vancouver, BC. The samples are processed by the
following methods as appropriate to determine the grades; Au -AA23-Au 30g fire assay with AA finish, ME -
ICP61-33 element four acid digest with ICP -AES finish, ME -OG62-ore grade elements, four acid with ICP -
AES finish, Pb -OG62-ore grade Pb, four acid with ICP -AES finish, Zn -OG62-ore grade Zn, four acid digest
with ICP-AES finish, Ag-GRA21-Ag 30g fire assay with gravimetric finish.
The technical information in this news release has been reviewed and approved by John Wilton, CGeol FGS,
CEO and President of BeMetals, and a “Qualified Person” as defined under National Instrument 43 -101, and
approved by Larry D. Kornze, Retired, P. Eng., Qualified Person, and Director of Thunder Mountain Gold Inc.,
and a “Qualified Person” as defined by National Instrument 43-101 standards.
The South Mountain Project
South Mountain is a polymetallic development project focused on high -grade zinc and silver . It is located
approximately 70 miles southwest of Boise, Idaho (see Figure 2). The Project was intermittently mined from the
late 1800s to the late 1960s and its existing underground workings remain intact and well maintained. Historic
production at the Project has largely come from high -grade massive sulfide bodies that remain open at depth
and along strike. According to historical smelter records, approximately 53,642 tons of mineralized material has
been mined to date. These records also indicate avera ge grades; 14.5% Zn, 11.63 Ag, 0.063 opt Au, 2.4% Pb,
and 1.4% Cu were mined. Thunder Mountain Gold Inc. purchased and advanced the Project from 2007 through
2019 investing approximately US$12M during that period. The current mineral resource estimate of t he deposit
is detailed in Table 3 below and the Company expects to provide a revised mineral resource update following a
phase 2 drilling program in 2020.
The Project is largely on and surrounded by private surface land, and as such, the permitting and en vironmental
aspects of the Project are expected to be straightforward. Permits are currently in place for underground
exploration activities.
Figure 2. Location of South Mountain Project
Regarding Thunder Mountain Gold, Inc.
Thunder Mountain Gold Inc. , a ju nior exploration company founded in 1935, owns interests in base and
precious metals projects in the western U.S. The Company’s principal asset is The South Mountain Mine, an
historic former producer of zinc, silver, gold, lead, and copper , located o n private land in Owyhee County
Idaho. In February 2019, The Company entered into an option agreement with BeMetals Corp .
(www.Bemetalscorp.com) based in Vancouver, British Columbia, Canada . Thunder Mountain Gold also owns
100% of the Trout Creek Project – a gold exploration project located along the western flank of the Shoshone
Mountain Range in the Reese River Valley, adjacent to and surrounded by Nevada Gold Mines, a joint
operating agreement between Barrick and Newmont Goldcorp private mineral lands. For more information on
Thunder Mountain Gold, please visit the Company’s website at www.Thundermountaingold.com.
About BeMetals Corp.
BeMetals is a preciou s and base metals exploration and development company focused on becoming a leading
diversified metal producer through the acquisition of quality exploration, development and potentially
production stage projects. The Company is evaluating numerous global potential entry -level precious metals
projects while progressing both its advanced high -grade, zinc -silver-gold-copper polymetallic underground
exploration at the South Mountain Project in Idaho, and its tier -one targeted, Pangeni Copper Exploration
Project in Z ambia. A strong board and management team, founders and significant shareholders of the
Company, who have an extensive proven record of delivering considerable value in the mining sector through
the discovery, construction and operation of mines around the world, lead BeMetals’ growth strategy.
Forward-Looking Statements
This press release contains forward -looking statements that are based on the beliefs of management and reflect the
Company's current expectations. The forward -looking statements in this press release include statements with respect to
the completion of the transactions contemplated with BeMetals Corp., a Canadian Corporation . Generally, forward -
looking statements can be identified by the use of forward -looking terminology such as “plans”, “expects”, “is expected”,
“budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes” or variations of such words and
phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will b e taken”, “occur”
or “be achieved” or the negative connotation thereof. The forward -looking statements are based on certain assumptions,
which could change materially in the future, including the assumption that the transactions contemplated with BeMetals
Corp. will be completed. By their nature, forward -looking information involves known and unknown risks, uncertainties
and other factors that may cause actual results, performance or achievements to be materially different from any future
results, performance or achievements expressed or implied by the forward -looking information. Such factors include the
determination and ability of BeMetals to complete all required option payments and issuance of shares under the
BeMetals Option Agreement, the receipt of all required regulatory approvals and the satisfaction of all required terms and
conditions. Investors should refer to THMG’s Form 10 -K, Form 10-Q reports, and Definitive 14C Information Statement
as filed May 20, 2019, for a more detailed discussion of ri sks that may impact future results. There can be no assurance
that forward-looking information will prove to be accurate, as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, investors should n ot place undue reliance on forward -looking
information. Forward-looking information is provided as of the date of this press release, and the Company assumes no
obligation to update or revise them to reflect new events or circumstances, except as required in accordance with
applicable laws.
Cautionary Note to Investors
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Thunder Mountain Gold, Inc.
Eric T. Jones
President and Chief Executive Officer
Office: (208) 658-1037