Thunder Gold drills 0.59 g/t gold over 36.3 metres at Tower Mountain, Ontario
Thunder Gold Corp. [TGOL-TSXV; TGOLF-OTCQB; Z25-FSE] reportted final results from the 4,000-metre phase 1 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 gold over 10.5 metres within a broader interval that assayed 0.17 g/t gold over 250.4 metres. TM23-140 intersected 0.53 g/t gold over 24.5 metres and 0.46 g/t gold over 16.3 metres.
TM23-143 intersected 0.59 g/t gold over 36.3 metres and 1.12 g/t gold 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, noted: “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.”
Results are provided at cut-off grades of 0.00 (entire hole), 0.10 and 0.30 g/t gold, respectively. The company considers 0.30 g/t gold 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 Hanson: “Eleven of 12 holes intersected broad intervals of low-grade gold mineralization with 48% of the total metres drilled assaying greater than 0.10 g/t gold. Nine of 12 holes intersected sustained intervals (+9.0 metres down-hole) above a cut-off grade of 0.30 g/t gold. Over 40% of the sampled intervals within the A-Ellen target gap returned grades in excess of 0.30 g/t gold. 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 gold, 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 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; TM22-135 (0.78 g/t Au over 150.0 metres) Bench target.
Phase One drilling focused on the strongest, N-S trending, IP chargeable anomaly identified in the 2020 IP survey. The drilling program was designed to test the observed direct correlation between elevated gold grades and IP chargeability identified from analysis of historical data.
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.
Thunder Gold was formerly White Metal Resources.