Thundermin and Rambler Intersect High Grade Copper Mineralization
at Little Deer
TORONTO, ONTARIO--(Marketwired - May 22, 2014) - Thundermin
Resources Inc. ("Thundermin") (TSX-VENTURE:THR) and 50% joint
venture partner Rambler Metals and Mining Canada Limited
("Rambler") (TSX-VENTURE:RAB)(AIM:RMM) announce that they have
intersected 2.9% Cu over 3.4 m and 3.8% Cu over 2.0 m, 2.1% Cu over
2.6 m, and 2.3 % Cu over 6.2 m in two separate drill holes on the
Little Deer Copper Deposit ("Little Deer") (see Table 1 and Figure
1) located approximately 10 kilometres north of Springdale in
north-central Newfoundland.
Table 1: Little Deer Drill Results (2014) |
Hole No. |
NAD 83 UTM Zone 21 |
|
Dip |
|
Az |
|
From |
|
To |
|
Interval |
|
Cu |
|
East (m) |
|
North (m) |
|
(º) |
|
(º) |
|
(m) |
|
(m) |
|
(m)* |
|
(%) |
LD-14-63 |
571,149 |
|
5,492,702 |
|
-58.2 |
|
327.5 |
|
800.5 |
|
803.9 |
|
3.4 |
|
2.9 |
and |
|
|
|
|
|
|
|
|
819.0 |
|
819.7 |
|
0.7 |
|
1.9 |
and |
|
|
|
|
|
|
|
|
886.6 |
|
887.2 |
|
0.6 |
|
1.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LD-14-63A |
571,149 |
|
5,492,702 |
|
-58.2 |
|
327.5 |
|
763.3 |
|
766.3 |
|
3.0 |
|
1.0 |
and |
|
|
|
|
|
|
|
|
775.2 |
|
777.7 |
|
2.5 |
|
1.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LD-14-64 |
571,149 |
|
5,492,702 |
|
-52.6 |
|
327.6 |
|
729.6 |
|
732.6 |
|
3.0 |
|
1.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LD-14-64A |
571,149 |
|
5,492,702 |
|
-52.6 |
|
327.6 |
|
723.3 |
|
724.3 |
|
1.0 |
|
0.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LD-14-65 |
571,174 |
|
5,492,756 |
|
-51.2 |
|
329.3 |
|
206.5 |
|
208.5 |
|
2.0 |
|
3.8 |
and |
|
|
|
|
|
|
|
|
414.8 |
|
417.4 |
|
2.6 |
|
2.1 |
and |
|
|
|
|
|
|
|
|
629.6 |
|
630.0 |
|
0.4 |
|
8.0 |
and |
|
|
|
|
|
|
|
|
635.3 |
|
641.5 |
|
6.2 |
|
2.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LD-14-66 |
571,189 |
|
5,492,780 |
|
-57.7 |
|
327.9 |
|
409.5 |
|
409.8 |
|
0.3 |
|
2.4 |
and |
|
|
|
|
|
|
|
|
678.5 |
|
679.5 |
|
1.0 |
|
1.5 |
Notes: |
|
1) *The reported copper intersections are core lengths. The
true thicknesses of the copper intersections are highly variable
due to the nature of the mineralization. |
2) The "A" suffix in the drill hole number indicates a wedge
hole. |
The recently completed 3,800 m drill program, which was designed
to increase the mineral resources outlined to date and to further
upgrade the Inferred Resources to the Indicated Resource category
in the eastern portion of the deposit, consisted of four holes
drilled from surface and two wedge holes. Holes LD-14-63, 63A and
65 all intersected the Little Deer Main Zone. Hole LD-14-65 also
intersected two new copper zones higher in the hole grading 3.8% Cu
over 2.0 m, from 206.5 to 208.5 m down the hole, and 2.1% Cu over
2.6 m, from 414.8 to 417.4 m down the hole. These two new copper
zones were intersected within a previously unknown, large
chlorite-sericite-silica-pyrite alteration zone and their lateral
and depth extent is unknown at the present time. Hole LD-14-63
intersected two narrow copper zones, below the Little Deer Main
Zone, which are possible extensions to two lenses of the Little
Deer Footwall Zone Splay. Holes LD-14-64, 64A and 66 appear to have
been "dyked out" as they all intersected thick sections of mafic
dyke along with minor amounts of copper mineralization hosted by
intensely chlorite altered basalt within the expected area of the
Little Deer Main Zone.
John B. Heslop, President and Chief Executive Officer of
Thundermin said "We are generally pleased with the results of the
current drill program and continue to define continuity of the
copper mineralization between wide-spaced, historical drill holes.
Dykes which cut off the mineralization have also been intersected
in previous drilling. We are currently compiling the recent drill
information and planning additional holes to be drilled in order to
improve the confidence level of the National Instrument 43-101 ("NI
43-101") compliant resources at Little Deer prior to undertaking a
pre-feasibility study. In particular, we would like to confirm and
expand the mineral resources in the Little Deer Footwall Zone Splay
that is currently estimated to contain 797,000 tonnes ("t") grading
2.64% Cu (see news release dated June 22, 2011).
The Little Deer Copper Project hosts the Little Deer and
Whalesback copper deposits. On June 22, 2011 and July 26, 2012, NI
43-101 compliant mineral resource estimates, which were undertaken
by P&E Mining Consultants Inc. ("P&E") of Toronto, Ontario,
were announced for Little Deer and Whalesback, respectively.
P&E estimated that Little Deer contains Indicated Resources of
1,911,000 t at an average grade of 2.37% Cu (99.8 million lbs. Cu)
and additional Inferred Resources of 3,748,000 t at an average
grade of 2.13% Cu (176.0 million lbs. of Cu). P&E estimated
that Whalesback contains Indicated Resources of 797,000 t grading
1.67% Cu (29.3 million lbs. Cu) and Inferred Resources of 443,000 t
grading 1.57% Cu (15.3 million lbs. Cu). On a combined basis,
Little Deer and Whalesback are estimated to contain Indicated
Resources of 2,708,000 t grading 2.16% Cu (129.1 million lbs. Cu)
and Inferred Resources of 4,191,000 t grading 2.07% Cu (191.3
million lbs. Cu). A complete summary of the mineral resources
outlined to date on the Little Deer Copper Project can be found on
Thundermin's website, in news releases and on SEDAR.
Little Deer Joint Venture
Under the terms of its joint venture agreement with Rambler,
Thundermin has the right to increase its 50% interest in the Little
Deer property to 65% by completing a feasibility study and to 75%
by arranging 100% of the necessary bank financing required to place
the property into commercial production. Details on Little Deer and
Whalesback and the terms of the agreement with Rambler can be found
in numerous Thundermin news releases and on Thundermin's website
and on SEDAR.
Junior Exploration Assistance Program
Thundermin would like to acknowledge the financial support
received from the Junior Exploration Assisstance Program ("JEA") of
the Province of Newfoundland and Labrador in carrying out a portion
of their work on Little Deer.
Qualified Persons
The NI 43-101 mineral resource estimate referred to above was
prepared under the supervision of Mr. Eugene J. Puritch, P. Eng.,
President of P&E. Mr. Puritch is an independent Qualified
Person ("Q.P.") in accordance with NI 43-101.
Mr. Andrew Hussey, P.Geo., Senior Project Geologist with
Thundermin, is the Q.P. responsible for supervising all of the
drilling programs at Little Deer for the purposes of NI 43-101. Mr.
Hussey has also reviewed the contents of this new release for
accuracy. All holes drilled by Thundermin and Rambler are NQ in
size. Bulk density measurements, rock quality designations and
photographic logging of significant mineralized intersections are
performed systematically prior to assaying. The core is logged and
the mineralized sections, where appropriate, are sawn in half at a
core logging facility in Springdale. Half of the core is submitted
for analyses to Eastern Analytical Limited, an independent and
qualified assayer located in Springdale, Newfoundland and the
remaining half of the core is kept for future reference. Blanks,
duplicates and standards are routinely used as part of the assay
procedures.
About Thundermin
Thundermin is a Canadian-based mineral exploration company
focused on the exploration for and the discovery of economically
viable base metal and gold deposits in Canada with its primary
project being the Little Deer Copper Project as described above.
Thundermin has an interest in, or the right to earn an interest in
12 base metal and gold properties in Canada. Thundermin owns a 100%
interest in the Lebel Township gold property, which is located on
the Kirkland Lake Main Break in the prolific Kirkland Lake gold
camp. Thundermin has the right to earn a 100% interest in eight
exploration licenses covering a large portion of the Stirling
volcanogenic massive zinc-lead-copper-silver-gold sulphide belt
located on Cape Breton Island, Nova Scotia. An initial diamond
drill program undertaken on the property in 2012 was successful in
intersecting copper mineralization in porphyritic volcanic rocks
similar to those known to host massive sulphide deposits elsewhere.
Thundermin has royalty interests in seven base metal and gold
properties located in British Columbia and Quebec, the most
significant being a 2.5% net smelter return royalty in the
Pelletier Lake gold deposit which is under option to QMX Gold
Corporation. Thundermin also has various shareholdings in twelve
other junior resource companies exploring for base metal, gold,
chrome, and diamond deposits in Canada.
Forward-Looking Statements
This news release may contain "Forward-Looking Statements" that
involve risks and uncertainties, such as statements of Thundermin's
plans, objectives, strategies, intentions and expectations. The
words "potential," "anticipate," "forecast," "believe," "estimate,"
"expect," "may," "project," "plan," and similar expressions are
intended to be among the statements that identify "Forward-Looking
Statements". Although Thundermin believes that its expectations
reflected in these "Forward-Looking Statements" are reasonable,
such statements may involve unknown risks, uncertainties and other
factors disclosed in our regulatory filings that can be viewed on
the SEDAR website at www.sedar.com. For us, uncertainties arise
from the behavior of financial and metals markets and from numerous
other matters of national, regional, and global scale, including
those of an environmental, climatic, natural, political, economic,
business, competitive, or regulatory nature. These uncertainties
may cause our actual future results to be materially different than
those expressed in our "Forward-Looking Statements". Although
Thundermin believes the facts and information contained in this
news release to be as correct and current as possible, Thundermin
does not warrant or make any representation as to the accuracy,
validity or completeness of any facts or information contained
herein and these statements should not be relied upon as
representing its views subsequent to the date of this news
release.
NEITHER TSX-VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE
TSX-VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
For further information on Thundermin Resources Inc., visit
Thundermin's website at www.thundermin.com or the SEDAR website at
www.sedar.com.
To view the map associated with this press release, please visit
the following link:
http://media3.marketwire.com/docs/THRFigure-1.pdf.
Thundermin Resources Inc.John B. HeslopPresident & CEO(647)
344-1167Thundermin Resources Inc.James W. GillChairman(416)
450-1851www.thundermin.com
Thundermin Resources Inc. (TSXV:THR)
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