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Thunder Mountain Gold Reports Significant Drill Intercepts in the Texas Zone at its High-Grade Polymetallic South Mountain Project

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BOISE, Idaho and VANCOUVER, British Columbia, Feb. 22, 2021 (GLOBE NEWSWIRE) -- Thunder Mountain Gold, Inc. (OTCQB: THMG; TSX-V: THM), (the “Company” or “THMG”) is pleased to report on the latest analytical results from its Phase 2 underground diamond drilling program at the high-grade South Mountain Zinc-Silver-Gold-Copper Project (“South Mountain” or “South Mountain Project” or the “Property”) in southwestern Idaho, U.S.A. The Company`s 2020 drill results demonstrate that South Mountain’s Texas Zone contains both high-grade Copper-Silver and Zinc-Silver-Gold mineralization (See Tables 1 and 2). The Company’s core drilling program intersected mineralization at depths beyond any historical drilling of the Texas Zone and the deposit remains open to depth (See Figure 1). Further drilling results will be reported when received from the laboratories.

DRILL HOLE HIGHLIGHTS

TEXAS WEST ZONE:

  • SM20-028: 35.6 feet (10.85 meters) grading 2.56% copper (“Cu”), 7.59 ounces per ton (“opt”) (260.1 grams per tonne (“g/t”)) silver (“Ag”), 0.008 opt (0.26 g/t) gold (“Au”), 0.10% lead (“Pb”) and 0.13% zinc (“Zn”)
  • SM20-038: 25 feet (7.62 meters) grading 1.64% Cu, 8.15 opt (279.5 g/t) Ag, 0.022 opt (0.74 g/t) Au, 0.86% Pb and 0.55% Zn
    • Including: 16.96 feet (5.17 meters) grading, 2.23% Cu, 9.86 opt (337.9 g/t) Ag, 0.030 opt (1.02 g/t) Au, 1.12% Pb and 0.77% Zn
  • SM20-043: interval 1: 23 feet (7.01 meters) grading 2.84% Cu, 5.29 opt (181.5 g/t) Ag, 0.01 opt (0.22 g/t) Au, 0.01% Pb and 0.29% Zn
    • Including: 15.7 feet (4.79 meters) grading, 3.81% Cu, 7.82. (244.3 g/t) Ag, 0.006 opt (0.17 g/t) Au, 0.01% Pb and 0.07% Zn

TEXAS EAST ZONE:

  • SM20-050 Interval 2: 27.4 feet (8.35 meters) grading 4.17% Zn, 5.68 opt (194.8 g/t) Ag, 0.118 opt (4.05 g/t) Au, 0.78% Pb and 0.54% Cu

Note: ALS Global completed the analytical work with the core samples processed at their preparation facility in Reno, Nevada, U.S.A. All analytical and assay procedures are conducted at the ALS laboratory in North Vancouver, BC. Reported widths are drilled core lengths as true widths are unknown at this time. It is estimated based upon current data that true widths might range between 60-80% of the drilled intersection.

Examples of intersection grades for the two distinct Texas zones are:

  • 3.81% Cu with 5.29 opt (244.3 g/t) Ag over 15.7 feet (4.79 meters) in hole SM20-043 (Interval 1), 2.56% Cu with 7.59 opt (260.1 g/t) Ag over 35.6 feet (10.85 meters) in hole SM20-028, both in Texas West, and
  • 4.17% Zn, 5.68 opt (194.8 g/t) Ag and 0.118 opt (4.05 g/t) Au over 27.4 feet (8.35 meters) in hole SM20-050 from Texas East.

It should be noted that these examples are supported by other anomalous intersections (See Tables 1 & 2).

The Texas Mineralized zone is separate from the DMEA massive sulfide zone that was the focus of the 2019 drill program, to which some holes were added in 2020. This drilling confirmed the DMEA mineralization to a greater depth and proved continuity between previous intercepts.

“We are extremely pleased with the 2019 and 2020 drill programs. We are confident that these results will add significant tonnage to the existing resource estimate,” commented Eric Jones, President and CEO of Thunder Mountain Gold. “This data, along with additional metallurgy and hydrology testing, as well as rock mechanics and mine modelling scheduled for the first half 2021, will all be incorporated in the 2021 Preliminary Economic Assessment (“PEA”) study for South Mountain, expected to be completed during Q3 of this year.”

PHASE 2 TEXAS ZONE DRILLING - SOUTH MOUNTAIN PROJECT

A total of 8,904 feet (2,714 meters) of underground core drilling was completed during Phase 2, with 30 holes in both the Texas and DMEA zones. During this drilling campaign, our site team widened and advanced the existing Sonneman level eastwards by 170 feet (52 meters) to establish a new drill station closer to the Texas Zone (See Figure 1). With better access to drill the Texas Zone, a total of 24 holes were completed to test this zone of mineralization. Geological logging of the core supported by sampling results indicate that two styles of high-grade mineralization have developed in this area and are now identified as the Texas West and Texas East zones.

Table 1 below illustrates the drilling results received to date from the Texas West Zone. This zone is characterized by skarn-hosted, dominantly copper and silver mineralization. This is demonstrated, for example, in the drilled intercepts:

  • 3.81% Cu with 7.82 opt (244.3 g/t) Ag over 15.7 feet (4.79 meters) in hole SM20-043 (Interval 1),
  • 2.56% Cu with 8.32 opt (260.1 g/t) Ag over 35.6 feet (10.85 meters) in SM20-028, and
  • 2.23% Cu with 10.81 opt (337.9 g/t) Ag over 16.96 feet (5.17 meters) in hole SM20-038.

Important to note that from the geological logging of the core, the higher copper grades over significant drilled widths in Texas West appear to be controlled by the increased abundance of chalcopyrite, which is a common copper sulphide mineral, often extractable through conventional flotation methods. Representative sample material of this and other zones of the deposit have been identified and are being collected for metallurgical test work at the SGS Mineral Services site in Lakefield, Canada. Results from this study will be included with historical test work and incorporated into the planned PEA study later this year.

Table 2 below displays the drill hole intersections from the Texas East Zone where this mineralization is represented by predominantly massive sulphide hosted zinc, silver, and gold mineralization. Examples of this style of mineralization are intercepts:

  • 8.65% Zn, 6.98 opt (218.1 g/t) Ag and 0.078 opt (2.44 g/t) Au over 11 feet (3.37 meters) in hole SM20-043 (Interval 2), and
  • 4.17% Zn, 6.23 opt (194.8 g/t) Ag and 0.130 opt (4.05 g/t) Au over 27.39 feet (8.35 meters) in hole SM20-050.

The gold grades of 0.130 opt (4.05 g/t) over 27.39 feet (8.35 meters); 0.066 opt (2.07 g/t) over 15.45 feet (4.71 meters) and 0.122 opt. (3.82 g/t) over 4.39 feet (1.34 meters) in holes SM20-050, SM20-043, and SM20-029, respectively, are of specific interest from a value potential for the Texas East Zone. These Texas East intersections represent the successful targeting and interpreted extension of mineralization below historical high-grade rib sampling in the Sonneman level from the 1980s (See Figure 1). (See Thunder Mountain Gold news release, dated; January 27, 2020).

The 2020 drill program has delivered on intersecting mineralization extending the Texas Zone further down dip of historical drilling and the exposures in the underground development. Texas Zone mineralization is now interpreted to continue from the collar of the old Texas Shaft some 1,150 feet (350 meters) down dip to the SM20-050 intercept. Both the Texas West and East zones remain open to depth (See Figure 1). Table 3 further below provides drill hole azimuth, dip, end of hole length and collar coordinates for each of the reported drill holes.


Table 1. Analytical and Assay Results from Texas West Zone

Drill Hole ID, Zone From To Core
Interval
(ft) 		Cu % Ag Au Pb % Zn %
& Interval(ft)(ft)optopt
TEXAS WEST ZONE        
SM20-028198.95234.5535.602.567.5860.0080.10.13
         
SM20-03054.8982.0927.201.133.6490.0030.020.26
         
SM20-031136.09140.584.491.568.9400.0121.092.21
         
SM20-033110.79119.498.692.777.3300.0110.030.15
         
SM20-036112.40143.7031.300.999.2430.0070.392.15
         
SM20-038106.00131.0025.001.648.1520.0220.860.55
INCLUDING:106.00122.9716.962.239.8550.0301.120.77
         
SM20-041        
INTERVAL 1:63.7173.8810.171.295.1770.0030.070.04
INTERVAL 2:104.20109.194.990.444.9470.0690.911.99
         
SM20-042        
INTERVAL 1:58.9965.196.201.923.0040.0020.010.03
INTERVAL 2:78.0883.995.911.063.3250.0020.030.1
         
SM20-043 (ft) (ft) Interval (ft)  opt opt  
INTERVAL 1:131.00154.0023.002.845.2940.0060.010.29
INCLUDING:131.00146.6915.683.817.1250.0050.010.07
         
SM20-049        
INTERVAL 1:106.89120.6413.751.822.6080.0020.010.18
INTERVAL 2:147.31151.253.942.424.0250.0040.010.07
         
Analytical and Assay results are pending for drill holes SM20-32, 34, 35, 37, 39, 40, 44-48 and 51

Note: Reported widths are drilled core lengths as true widths are unknown at this time. It is estimated based upon current data that true widths might range between 60-80% of the drilled intersection. A nominal cut-off grade of 0.5% Cu has been applied to determine the boundaries of the intersections for this skarn-hosted mineralization with no more than 1.22 meters of internal dilution. *A nominal cut-off grade of 4.375 opt (150 g/t) Ag has been applied to this intersection. Table 3 below documents; Drill Hole Azimuth, Dip, end of hole length, and Collar Coordinates (Note: See details below in QA/QC section).


Table 2. Analytical and Assay Results from Texas East Zone

Drill Hole ID, ZoneFromToCore
Interval
(ft)		Zn %AgAuPb %Cu %
& Interval(ft)(ft)optopt
TEXAS EAST ZONE        
SM20-029202.20206.594.4019.676.6880.1113.940.25
         
SM20-043        
INTERVAL 2:185.47200.8915.426.194.9180.0600.710.39
INCLUDING:185.47196.4911.028.656.3610.0710.90.52
         
SM20-050        
INTERVAL 1:151.84159.427.580.14.2550.0050.012.91
INTERVAL 2:162.89190.2927.404.175.6820.1180.780.54
         
Analytical and Assay results are pending for drill holes SM20-32, 34, 35, 37, 39, 40, 44-48 and 51

Note: Reported widths are drilled core lengths as true widths are unknown at this time. It is estimated based upon current data that true widths might range between 60-80% of the drilled intersection. Intervals cut-offs are based upon visual contacts of massive sulphide units with no more than 0.80 meters of internal skarn. For hole SM20-050 Interval 1. a nominal cut-off grade of 0.5% Cu has been applied to determine the boundaries of the intersections for this skarn-hosted mineralization. Table 3 below documents; Drill Hole Azimuth, Dip, end of hole length, and Collar Coordinates (Note: See details below in QA/QC section).


Table 3: Drill Hole Azimuth, Dip, End of hole length and Collar Coordinates

Hole ID Azimuth
Degree 		Dip
Degree 		End of
hole
Length (ft) 		East
(ft.) 		North
(ft.) 		Elev.
(ft.)
SM20-028901524623117643936456866.77
SM20-029126-1232523117643936456866.77
SM20-03095-3012523117643936456866.77
SM20-031110-1417923117643936456866.77
SM20-032*105-6414423117643936456866.77
SM20-033115-3020523117643936456866.77
SM20-034*801521723117643936456866.77
SM20-035*105147823117643936456866.77
SM20-036105-1426923117643936456866.77
SM20-037*100-1422523117643936456866.77
SM20-038110-3018523117643936456866.77
SM20-039*122-835023117643936456866.77
SM20-040*105-2920023117643936456866.77
SM20-041110
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About THMG

thunder mountain gold (nasdaq otcbb: thmg) is a boise idaho based exploration company focused on the generation of precious and base metal projects in the western united states, mexico, and alaska. a 73-year old company, thunder mountain gold performs its own natural resource exploration and generates value for shareholders by aggressively developing high-grade, high-quality precious and metal resources in politically stable mining regions.