Thunder Gold Provides Update on Tower Mountain Gold Property and Announces Option Grant

Rhea-AI Summary

Thunder Gold Corp (TGOLF) provides an update on its Tower Mountain Gold Property, securing exclusive mineral rights and announcing an option grant. The company aims to publish an initial mineral resource estimate in 2025 after completing extensive diamond drilling and identifying significant gold mineralization. Thunder Gold also grants 2,400,000 options to directors and officers, further enhancing its leadership team.

Thunder Bay, Ontario--(Newsfile Corp. - April 24, 2024) - Thunder Gold Corp (TSXV: TGOL) (FSE: Z25) (OTCQB: TGOLF) (formerly White Metal Resources Corp) ("Thunder Gold" or the "Company") announces that it has successfully concluded all option agreements related to the Company's flagship Tower Mountain Gold Property ("Tower Mountain") located in the Shebandowan Greenstone Belt ("SGB"), 50 kilometres west of Thunder Bay. The Company now holds exclusive mineral rights to approximately 2,500 hectares surrounding the Tower Mountain Intrusive Complex ("TMIC") which the Company interprets as a significant control on gold mineralization throughout the eastern SGB.

Wes Hanson, President and CEO states, "We are pleased to announce that we have secured clear and title, less residual royalties, to the mineral rights surrounding the TMIC. Our internal analysis, completed over the past year and supported by over 41,000 metres of diamond drilling, suggests the TMIC plays a pivotal role in gold emplacement regionally. Historical assessment reports clearly demonstrate a strong relationship between gold mineralization and certain phases of the intrusive center throughout the eastern part of the Shebandowan greenstone belt. Understanding that relationship has been a focal point of our internal modeling, and we are now designing a multi-phase, systematic exploration program to test our conceptual model with the objective of publishing an initial mineral resource estimate in 2025. Drilling to date at Tower Mountain has established widespread, low-grade gold mineralization ranging from 0.9 to 1.4 g/t Au along an 1,800-metre strike length to depths of more than 500 metres from surface. The drill-defined gold mineralization parallels the western contact of the TMIC and is coincident with a strong, Induced Polarization chargeability anomaly. The remainder of the TMIC perimeter offers multiple, identical chargeable responses that remain untested by drilling, but surface prospecting confirms anomalous gold grades of up to 25 g/t Au intermittently along the TMIC perimeter."

The Company also announces that it has granted an aggregate 2,400,000 options to directors and officers of the Company, exercisable at $0.05 per share for a period of three (3) years.

Qualified Person

Technical information in this news release has been reviewed and approved by Wes Hanson, P.Geo., President and CEO of Thunder Gold Corp., who is a Qualified Person under the definitions established by National Instrument 43-101.

About the Tower Mountain Gold Property

The 100%-owned Tower Mountain Gold Property is located adjacent to the Trans-Canada highway, approximately 50-km west of Thunder Bay, Ontario. The roughly 2,500-hectare property surrounds one of the largest, exposed, intrusive complexes in the eastern Shebandowan Greenstone Belt where most known gold occurrences have been occurring either within, or proximal to, intrusive rocks. Gold occurrences at Tower Mountain have been localized within extremely altered rocks parallel to the western contact of the intrusive centre. Drilling has established anomalous gold extending out from the intrusive contact for over 500 metres along a 1,500-metre strike length, to depths of over 500 metres from surface. The remaining 75% of the perimeter surrounding the intrusion shows identical geology, alteration, and geophysical response, which may offer a compelling exploration opportunity.

About Thunder Gold Corp.

Thunder Gold Corporation, formerly White Metal Resources. is a junior exploration company focused on gold discovery in Canada. For more information about the Company please visit: www.thundergoldcorp.com

On behalf of the Board of Directors,

Wes Hanson, P.Geo., President and CEO

For further information contact:

Wes Hanson, CEO
(647) 202-7686
whanson@thundergoldcorp.com

NEITHER THE 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.

The information contained herein contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation (collectively, "forward-looking statements"). Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. All statements, other than statements of historical fact, are forward-looking statements and are based on predictions, expectations, beliefs, plans, projections, objectives and assumptions made as of the date of this news release, including without limitation; anticipated results of geophysical drilling programs, geological interpretations and potential mineral recovery. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to the gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty or reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise any forward-looking statements, other than as required by applicable law, to reflect new information, events or circumstances, or changes in management's estimates, projections or opinions. Actual events or results could differ materially from those anticipated in the forward-looking statements or from the Company's expectations or projections.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/206701

FAQ

What update did Thunder Gold provide regarding its Tower Mountain Gold Property?

Thunder Gold secured exclusive mineral rights to approximately 2,500 hectares surrounding the Tower Mountain Intrusive Complex, aiming to publish an initial mineral resource estimate in 2025.

What significant findings were highlighted in the update?

Extensive diamond drilling revealed widespread, low-grade gold mineralization along an 1,800-metre strike length to depths exceeding 500 metres from the surface, with anomalous gold grades of up to 25 g/t Au.

Who is the Qualified Person mentioned in the news release?

Wes Hanson, P.Geo., President and CEO of Thunder Gold Corp, is the Qualified Person responsible for the technical information reviewed and approved in the release.

How many options were granted to directors and officers of Thunder Gold?

An aggregate of 2,400,000 options were granted to directors and officers of the company, exercisable at $0.05 per share for a period of three years.