Thundermin and Rambler Intersect High Grade Copper Mineralization at Little Deer
22 Mai 2014 - 5:23PM
Marketwired Canada
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)
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Hole No. NAD 83 UTM Zone 21 Dip Az
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East (m) North (m) (degrees) (degrees)
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LD-14-63 571,149 5,492,702 -58.2 327.5
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and
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and
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LD-14-63A 571,149 5,492,702 -58.2 327.5
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and
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LD-14-64 571,149 5,492,702 -52.6 327.6
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LD-14-64A 571,149 5,492,702 -52.6 327.6
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LD-14-65 571,174 5,492,756 -51.2 329.3
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and
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and
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and
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LD-14-66 571,189 5,492,780 -57.7 327.9
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and
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Hole No. From To Interval Cu
(m) (m) (m)(i) (%)
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LD-14-63 800.5 803.9 3.4 2.9
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and 819.0 819.7 0.7 1.9
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and 886.6 887.2 0.6 1.9
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LD-14-63A 763.3 766.3 3.0 1.0
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and 775.2 777.7 2.5 1.0
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LD-14-64 729.6 732.6 3.0 1.0
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LD-14-64A 723.3 724.3 1.0 0.9
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LD-14-65 206.5 208.5 2.0 3.8
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and 414.8 417.4 2.6 2.1
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and 629.6 630.0 0.4 8.0
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and 635.3 641.5 6.2 2.3
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LD-14-66 409.5 409.8 0.3 2.4
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and 678.5 679.5 1.0 1.5
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Notes:
1) (i)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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Thundermin Resources Inc.
John B. Heslop
President & CEO
(647) 344-1167
Thundermin Resources Inc.
James W. Gill
Chairman
(416) 450-1851
www.thundermin.com
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