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.
- 600m2 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
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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
whanson@thundergoldcorp.com
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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.
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