|
|
|||||||
| | | | | | | |
|
|
THUNDER MOUNTAIN GOLD ADVANCES SOUTH MOUNTAIN PROPERTY and EXTENDS KNOWN PRECIOUS AND BASE METAL RESOURCE. The Company contracted with REI Drilling out of Utah to conduct a total of 2,300-foot surface core drilling program in several holes to test the down dip extension of the major ore zones encountered in the historic underground workings. The drill holes targeted mineralization approximately 300 feet down dip of the Sonneman Level, the lowermost tunnel that encountered both mineralized zones. The targets were selected based on modeling all of the known data in a Vulcan 3-D Mine Model.
During 2008, the Sonneman Level of the mine was rehabilitated, and the underground workings are now very accessible. Warner Construction of Boise completed extensive track-mounted backhoe excavation in order to open and collar the Sonneman portal site. Concrete box culverts and timbering were installed and backfilled along a total of 50 feet of the entry. A contract mining crew completed an evaluation of the tunnel, and a majority of the tunnel required no new timbering, with the exception being in areas of some of the intrusive dikes that cut across the mineralized marble and skarn zones. Thunder Mountain Gold purchased the 326-acre South Mountain Project in 2007. The principal metals historically recovered from the South Mountain property were silver, zinc, lead, copper, and gold. Approximately 80,653 tons of ore are reported to have been extracted during the exploration and development of the mine during World War II. Based on smelter receipts, there were 53,635 tons of ore direct-shipped to a smelter with a grade of approximately 14.5% zinc, 10.5 opt silver, 1.4% copper, 0.06 opt gold, and 2.4% lead. In early 2008, the Company commissioned Kleinfelder to confirm these reports, and to produce an independent assessment and validation of geological and mineral data for the South Mountain Mine. Kleinfelder conducted an extensive review of all of the known previous site work, and developed a panel model using existing historical records to estimate the total remaining mineral resources. Based upon this data, Kleinfelder`s panel modeling estimated an indicated resource of 629,979 tons containing 12,197,500 equivalent silver ounces. Additionally, an inferred resource of approximately 850,000 tons containing an estimated 6,340,800 silver equivalent ounces was calculated in the model, for a total indicated and inferred resource of 1,422,000 tons containing an estimated 18,538,400 silver equivalent ounces. The complete South Mountain Technical Report is available on Thunder Mountain Gold`s website at www.thundermountaingold.com. The Report is not a 43-101 compliant, but 43-101 style, and serves as a mineral resource evaluation tool. Once the 2008 drilling and underground sampling information is completely added to the Kleinfelder Model, it could significantly increase this resource by extending the known mineralized zones down dip of the cut off elevation for the Kleinfelder model of 300 feet below the Sonneman Level, 150 feet below the Kleinfelder estimate.
Jim Collord, President of Thunder Mountain Gold, commenting on the exploration activities, “We are very pleased with the drilling and overall exploration results from 2008. The gold values were particularly encouraging, and given the fact that we intercepted the known mineralization 300 feet down dip of the lowermost mineralization encountered in the underground workings, significantly increases the potential of our South Mountain Mine Project. We are also excited with the cooperation of the local private property owners to reach terms on mineral leases that were acceptable to all parties. The acquisition of these parcels will allow us to pursue the known targets to depth, and to pursue a new exploration model for the district. The fact that there are anomalous gold values in the large breccias zones to the south of the main mineralization suggests that there is a tremendous upside potential for the district. We look forward to expanding our exploration targets in the future.” |
|
Home
-- About Us -- Products & Services --
Classifieds --
Professional Directory -- Advertise with Us
|
The 2008 core drilling was a huge success, and confirmed what was previously suspected – that gold and silver mineralization, along with the known base metals, extends at least 300 feet below the current known mineralization in the working levels of the mine. Once this information is completely added to the Vulcan Mine Model, it could significantly increase this resource by extending the known mineralized zones down dip of the cut off elevation for the Kleinfelder model of 300 feet below the Sonneman Level.
In addition to the drilling program and the Sonneman Tunnel rehabilitation, an extensive property boundary land survey of the entire land package, as well as some of the private land parcels that are adjacent to the Company’s 326 patented acres. The Thunder Mountain land package was increased during the year with additional staking of additional unpatented mining claims, and mineral leases with adjacent property owners that cover possible down dip extension of the mineralized horizon. The Company now controls approximately 815 acres of private land and mineral rights plus 21 unpatented mining claims totaling approximately 420 acres. The acquisition of the adjacent ranchland brings the total land package under control at South Mountain to approximately 1,235 acres. The leases were obtained under reasonable terms and carry annual rental costs and a 3% royalty if the economic mineralization is discovered and future production takes place.