- Thunder Gold Corp (TGOL) has commenced a 4,000-metre diamond drill program at its Tower Mountain Gold Property
- Exploration data analysis indicates IP chargeability correlates to increased gold grade
- Initial drill holes will target the strongest chargeable anomaly identified to date, and additional holes will target new chargeable targets
- Thunder Gold Corp. (TGOL) was up 16.67 per cent, trading at $0.035 per share as of 11:00 am ET
Thunder Gold Corp. (TGOL) has commenced a diamond drill program at its Tower Mountain Gold Property.
The 4,000-metre drill contract was awarded to Chibougamau Diamond Drilling Ltd.
Preliminary inversions from a 4.0 km2 Induced Polarization (IP) survey of the North and East survey blocks indicate chargeable anomalies similar to those observed to be coincident with the Bench, Ellen and A targets to the west. Exploration data analysis indicates IP chargeability correlates to increased gold grade.
Initial drill holes will target the strongest chargeable anomaly identified to date, and additional holes will target new chargeable targets identified by the 2022 survey.
Wes Hanson P.Geo., CEO of Thunder Gold, explained that the primary objective with the initial 2023 drill program is to rapidly demonstrate that Tower Mountain offers a conceptual exploration target ranging from 50 to 100 million tonnes averaging 0.70 to 0.90 g/t Au.
“Our secondary objective is to demonstrate opportunities to increase both the quantity (size) and quality (grade) of the conceptual exploration target. Recent petrographic and geochemistry suggests that mineralization at Tower Mountain may represent a large, magmatic-hydrothermal system associated with the alkalic Tower Mountain Intrusive Complex (TMIC). Surface sampling has identified anomalous gold mineralization around the entire perimeter of the intrusion, specifically at or near the intrusive-volcanic contact. Gold mineralization is relatively agnostic of rock type, and carbonatization is the dominant alteration. We have established a direct relationship between pyrite content, IP chargeability strength and gold grade, with each increasing in direct proportion to the other. We believe Tower Mountain offers an opportunity for a large-tonnage, low-grade gold discovery and note that the current 35,000 metres of drilling are woefully inadequate to demonstrate that potential.
He added that the initial drilling will target the strongest chargeable response identified to date, an anomaly that has been tested by portions of 5 holes, all of which are clustered at the extreme southeastern edge of the anomaly.
“This anomaly persists over 500 metres (length) x 200 metres (width) x +300 metres (depth), offering a potential tonnage of greater than 75 million tonnes. Our analysis suggests that gold grades are approximately 2x higher inside the +40 mV/V anomaly, and the frequency of composites greater than cut-off is 2 to 3x more frequent. We also note that the Bench, Ellen and A targets surround the +40mV/V anomaly and may, in fact, be reflecting the lower-grade peripheral response of the magmatic system that introduced the gold into the host rocks. Our plan is to complete 6-8 holes on 100-metre-spaced sections along the length of the priority IP target. An additional 4-6 holes shall test other IP anomalies that we expect will be isolated from the expanded IP survey completed earlier this year.”
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The Tower Mountain Gold Property is located five kilometres off the Trans-Canada highway, 50-km west of Thunder Bay, Ontario.
Thunder Gold Corporation, formerly White Metal Resources. is a junior exploration company focused on gold discovery in Canada.
Thunder Gold Corp. (TGOL) was up 16.67 per cent, trading at $0.035 per share as of 11:00 am ET.