Thunder Mountain Gold, Inc. (OTCQB: THMG; TSX-V: THM), (the
“Company” or “THMG”) is pleased to report an updated Mineral
Resource Estimate (“MRE”) incorporating results from BeMetals Corp.
(“BMET” or “BeMetals”) Phase 1 and 2 underground diamond drilling
programs at the South Mountain Project (“South Mountain” or “South
Mountain Project” or the “Property”) in southwestern Idaho, U.S.A.
The updated MRE includes a substantially increased resource for the
Project while maintaining the high-grade nature of the
mineralization.
The updated Independent MRE, which has an
effective date of April 20, 2021, was prepared in accordance with
National Instrument 43-101 Standards of Disclosure for Mineral
Projects (“NI-43-101”) by Hard Rock Consulting, LLC, based in the
U.S.A. More details are included in Tables 1 & 2 below and a
technical report for this MRE will be filed with SEDAR, and on the
Company’s website, within 45 days from the date of this news
release.
HIGHLIGHTS OF UPDATED MINERAL
RESOURCE
- Measured & Indicated (“M&I”): 206,900 tons
grading 9.63% Zinc (“Zn”), 4.41 ounces per ton (“opt”) Silver
(“Ag”), 0.064 opt Gold (“Au”), 1.01% Lead (“Pb”) and 0.63% Copper
(“Cu”).
- This represents a 21.8% increase to the M&I tonnage
from the historical 2019 MRE with a 20.36% Zn equivalent grade
(“ZnEq”).
- Inferred: 833,700 tons grading 7.63% Zn, 5.72 opt Ag,
0.041 opt Au, 0.97% Pb and 0.81% Cu.
- This represents a 129.5% increase in the Inferred
tonnage from the historical 2019 MRE with an 18.10%
ZnEq.
Note: See Table 1 and 2 footnotes section 4 for
details of the Zn equivalent grade calculation
Eric T. Jones, President and CEO of Thunder
Mountain Gold Inc. commented, “We are extremely pleased with the
work completed by BeMetals and the Idaho project team over the last
2 years. We look forward to the completion of a robust PEA in the
coming months as the independent engineering firm works through the
economic analysis.”
MINERAL RESOURCE ESTIMATE
In two phases of drilling completed during 2019
and 2020 a combined total of approximately 16,000 feet of
underground core drilling was completed at South Mountain. During
these drilling campaigns, our site team also widened and advanced
the existing Sonneman level eastwards by 170 feet to establish a
new drill station closer to the Texas Zone. All the results of this
drilling have now been in incorporated into the updated MRE for the
South Mountain deposit.
Tables 1 & 2 below provide the Mineral
Resource Statement for the Project in U.S. and Metric units
respectively with details of the modelling methodology and cut-off
grades applied to the mineral resource. Figure 1 illustrates the
principal areas where the South Mountain deposit has been expanded
from the historical MRE that was completed in 2019. The historical
Technical Report for the Mineral Resource Estimate for the South
Mountain Project Owyhee County, Idaho USA Report Date: Dated: April
1, 2019 is filed on SEDAR.
Table 1. South Mountain Mineral Resource
Statement (U.S. Units)
|
|
|
Grades and Contained Metal |
|
Ore Type |
Classification |
Mass |
Zinc |
Zinc |
Silver |
Silver |
Gold |
Gold |
Lead |
Lead |
Copper |
Copper |
ZnEq |
|
|
thousand sh. ton |
% |
thousandlb |
t. oz/sh.ton |
thousandt. oz |
t. oz/sh.ton |
thousandt. oz |
% |
thousandlb |
% |
thousandlb |
% |
Massive Sulfide |
Measured |
53.8 |
11.45 |
12,300 |
3.67 |
197 |
0.069 |
3.7 |
0.79 |
900 |
0.46 |
500 |
20.21 |
Indicated |
118.9 |
11.36 |
27,000 |
4.77 |
568 |
0.077 |
9.1 |
1.36 |
3,200 |
0.53 |
1,300 |
22.14 |
Measured + Indicated |
172.8 |
11.39 |
39,300 |
4.43 |
765 |
0.074 |
12.9 |
1.18 |
4,100 |
0.51 |
1,800 |
21.54 |
Inferred |
777.2 |
8.09 |
125,700 |
5.90 |
4,586 |
0.043 |
33.7 |
1.04 |
16,100 |
0.74 |
11,500 |
18.34 |
Skarn |
Measured |
10.6 |
1.25 |
300 |
5.46 |
58 |
0.023 |
0.2 |
0.30 |
100 |
1.26 |
300 |
18.23 |
Indicated |
23.5 |
0.49 |
200 |
3.78 |
89 |
0.005 |
0.1 |
0.07 |
0 |
1.20 |
600 |
12.63 |
Measured + Indicated |
34.1 |
0.72 |
500 |
4.30 |
147 |
0.011 |
0.4 |
0.14 |
100 |
1.21 |
800 |
14.38 |
Inferred |
56.5 |
1.34 |
1,500 |
3.19 |
181 |
0.006 |
0.3 |
0.04 |
100 |
1.66 |
1,900 |
14.92 |
Total |
Measured |
64.5 |
9.77 |
12,600 |
3.96 |
255 |
0.062 |
4.0 |
0.71 |
900 |
0.59 |
800 |
19.88 |
Indicated |
142.4 |
9.57 |
27,200 |
4.61 |
656 |
0.065 |
9.2 |
1.15 |
3,300 |
0.64 |
1,800 |
20.57 |
Measured + Indicated |
206.9 |
9.63 |
39,800 |
4.41 |
912 |
0.064 |
13.2 |
1.01 |
4,200 |
0.63 |
2,600 |
20.36 |
Inferred |
833.7 |
7.63 |
127,300 |
5.72 |
4,766 |
0.041 |
34.0 |
0.97 |
16,200 |
0.81 |
13,400 |
18.10 |
1.) The effective date of the mineral
resource estimate is April 20th, 2021. The QP for the estimate is
Mr. Richard A. Schwering, P.G., SME-RM, of Hard Rock Consulting,
LLC. and is independent of BeMetals Corp., Thunder Mountain Gold
Inc., and South Mountain Mines Inc.
2.) Mineral resources are not mineral
reserves and do not have demonstrated economic viability such as
diluting materials and allowances for losses that may occur when
material is mined or extracted; or modifying factors including but
not restricted to mining, processing, metallurgical,
infrastructure, economic, marketing, legal, environmental, social
and governmental factors. Inferred mineral resources may not be
converted to mineral reserves. It is reasonably expected, though
not guaranteed, that the majority of Inferred mineral resources
could be upgraded to Indicated mineral resources with continued
exploration.
3.) The mineral resource is reported at an
underground mining cutoff of $102.5 U.S. Net Smelter Return (“NSR”)
within coherent wireframe models. The NSR calculation and cut-off
is based on the following assumptions: an Au price of $1,750/oz, Ag
price of $23.00/oz, Pb price of $1.02/lb., Zn price of $1.20/lb.
and Cu price of $3.40/lb.; Massive Sulfide ore type metallurgical
recoveries and payables of 52.25% for Au, 71.25% for Ag, 71.40% for
Zn, 66.50% for Pb, and 49.00% for Cu and a total smelter cost of
$33.29; Skarn ore type metallurgical recoveries and payables of
71.25% for Au, 80.75% for Ag, 51.00% for Zn, 47.50% for Pb, and
87.70% for Cu and a smelter cost of $7.24; assumed mining cost of
$70/ton, process costs of $25/ton, and general and administrative
costs of $7.5/ton. Based on the stated prices and recoveries the
NSR formula is calculated as follows; NSR = (Ag grade * Ag price *
Ag Recovery and Payable) + (Au grade * Au price * Au Recovery and
Payable) + (Pb grade * 20 * Pb Price * Pb Recovery and Payable) +
(Cu grade * 20 * Cu Price * Cu Recovery and Payable) + (Zn grade *
20 * Zn Price * Zn Recovery and Payable) for each ore type.
4.) The zinc equivalent grades were
calculated as Zn Grade + (((Pb Price * Pb Recovery and Payable) /
(Zn Price*Zn Recovery and Payable)) * Pb Grade) + (((Cu Price * Cu
Recovery and Payable) / (Zn Price * Zn Recovery and Payable)) * Cu
Grade) + (((Ag Price * Ag Recovery and Payable) / (Zn Price * 20 *
Zn Recovery and Payable)) * Ag Grade) + (((Au Price * Au Recovery
and Payable) / (Zn Price * 20 * Zn Recovery and Payable)) * Au
Grade)
5.) Rounding may result in apparent
differences when summing tons, grade and contained metal content.
Tonnage and grade measurements are in U.S. units.
Table 2. South Mountain Mineral Resource
Statement (Metric Units)
|
|
|
Grades and Contained Metal |
|
Ore Type |
Classification |
Mass |
Zinc |
Zinc |
Silver |
Silver |
Gold |
Gold |
Lead |
Lead |
Copper |
Copper |
ZnEq |
|
|
kt |
% |
t |
ppm |
kg |
ppm |
g |
% |
t |
% |
T |
% |
Massive Sulfide |
Measured |
48.85 |
11.45 |
5,600 |
126 |
6,100 |
2.38 |
116,200 |
0.79 |
400.00 |
0.46 |
200 |
20.21 |
Indicated |
107.90 |
11.36 |
12,300.0 |
164 |
17,700 |
2.63 |
283,500 |
1.36 |
1,500 |
0.53 |
600 |
22.14 |
Measured + Indicated |
156.75 |
11.39 |
17,800.0 |
152 |
23,800 |
2.55 |
399,700 |
1.18 |
1,900 |
0.51 |
800 |
21.54 |
Inferred |
705.03 |
8.09 |
57,000.0 |
202 |
142,600 |
1.49 |
1,049,000 |
1.04 |
7,300 |
0.74 |
5,200 |
18.34 |
Skarn |
Measured |
9.62 |
1.25 |
100.0 |
187 |
1,800 |
0.78 |
7,500 |
0.30 |
0 |
1.26 |
100 |
18.23 |
Indicated |
21.28 |
0.49 |
100.0 |
130 |
2,800 |
0.17 |
3,700 |
0.07 |
0 |
1.20 |
300 |
12.63 |
Measured + Indicated |
30.90 |
0.72 |
200.0 |
148 |
4,600 |
0.36 |
11,200 |
0.14 |
0 |
1.21 |
400 |
14.38 |
Inferred |
51.26 |
1.34 |
700.0 |
110 |
5,600 |
0.19 |
9,900 |
0.04 |
0 |
1.66 |
900 |
14.92 |
Total |
Measured |
58.47 |
9.77 |
5,700.0 |
136 |
7,900 |
2.12 |
123,700 |
0.71 |
400 |
0.59 |
300 |
19.88 |
Indicated |
129.18 |
9.57 |
12,400.0 |
158 |
20,400 |
2.22 |
287,300 |
1.15 |
1,500 |
0.64 |
800 |
20.57 |
Measured + Indicated |
187.65 |
9.63 |
18,100.0 |
151 |
28,400 |
2.19 |
411,000 |
1.01 |
1,900 |
0.63 |
1,200 |
20.36 |
Inferred |
756.30 |
7.63 |
57,700.0 |
196 |
148,200 |
1.40 |
1,058,900 |
0.97 |
7,300 |
0.81 |
6,100 |
18.10 |
1.) The effective date of the mineral resource estimate is
April 20th, 2021. The QP for the estimate is Mr. Richard A.
Schwering, P.G., SME-RM, of Hard Rock Consulting, LLC. and is
independent of BeMetals, Corp., Thunder Mountain Gold Inc., and
South Mountain Mines Inc.
2.) Mineral resources are not mineral reserves and do not
have demonstrated economic viability such as diluting materials and
allowances for losses that may occur when material is mined or
extracted; or modifying factors including but not restricted to
mining, processing, metallurgical, infrastructure, economic,
marketing, legal, environmental, social and governmental factors.
Inferred mineral resources may not be converted to mineral
reserves. It is reasonably expected, though not guaranteed, that
the majority of Inferred mineral resources could be upgraded to
Indicated mineral resources with continued exploration.
3.) The mineral resource is reported at an underground
mining cutoff of $102.5 U.S. Net Smelter Return (“NSR”) within
coherent wireframe models. The NSR calculation and cut-off is based
on the following assumptions: an Au price of $1,750/oz, Ag price of
$23.00/oz, Pb price of $1.02/lb., Zn price of $1.20/lb. and Cu
price of $3.40/lb.; Massive sulfide ore type metallurgical
recoveries and payables of 52.25% for Au, 71.25% for Ag, 71.40% for
Zn, 66.50% for Pb, and 49.00% for Cu and a total smelter cost of
$33.29; Skarn ore type metallurgical recoveries and payables of
71.25% for Au, 80.75% for Ag, 51.00% for Zn, 47.50% for Pb, and
87.70% for Cu and a smelter cost of $7.24; assumed mining cost of
$70/ton, process costs of $25/ton, and general and administrative
costs of $7.5/ton. Based on the stated prices and recoveries the
NSR formula is calculated as follows; NSR = (Ag grade * Ag price *
Ag Recovery and Payable) + (Au grade * Au price * Au Recovery and
Payable) + (Pb grade * 20 * Pb Price * Pb Recovery and Payable) +
(Cu grade * 20 * Cu Price * Cu Recovery and Payable) + (Zn grade *
20 * Zn Price * Zn Recovery and Payable) for each ore type.
4.) The zinc equivalent grades were calculated as Zn Grade
+ (((Pb Price * Pb Recovery and Payable) / (Zn Price*Zn Recovery
and Payable)) * Pb Grade) + (((Cu Price * Cu Recovery and Payable)
/ (Zn Price * Zn Recovery and Payable)) * Cu Grade) + (((Ag Price *
Ag Recovery and Payable) / (Zn Price * 20 * Zn Recovery and
Payable)) * Ag Grade) + (((Au Price * Au Recovery and Payable) /
(Zn Price * 20 * Zn Recovery and Payable)) * Au Grade)
5.) Rounding may result in apparent differences when
summing tons, grade and contained metal content. Tonnage and grade
measurements are in U.S. units and converted to metric.
Figure 1: 3D Perspective view inclined
200 looking north-north-east,
indicating the areas of the expanded mineral resource compared to
the 2019 MRE.
https://www.globenewswire.com/NewsRoom/AttachmentNg/6de93e3b-9750-4cbe-8a68-c16fc0396dc8
Qualified Person Statement for the
Mineral Resource Estimate
Mr. Richard A. Schwering, P.G., SME-RM, a
Resource Geologist with Hard Rock Consulting, LLC, is responsible
for the South Mountain Project Mineral Resource Estimate with an
effective date of April 20, 2021. Mr. Schwering is a Qualified
Person as defined by NI43-101 and is independent of BeMetals Corp.,
Thunder Mountain Gold Inc., and South Mountain Mines, Inc. Mr.
Schwering estimated the mineral resources based on drill hole and
channel sample data constrained by geologic boundaries using an
Ordinary Krige algorithm. The Geologic Model and Mineral Resource
Estimate were completed using Leapfrog Geo® Software version 6.0.5.
Hard Rock Consulting also completed the previous resource
estimate.
ADDITIONAL RECENT DRILLING RESULTS
INCLUDED WITHIN THE UPDATED MRE
The Company also reports further BMET drilling
results from both the Texas East and Texas West Zones. This new
data supports previously reported results (See THMG news release
dated, February 22, 2021), illustrating the high-grade
zinc-silver-gold nature of the Texas East mineralization, and
generally copper-silver dominant Texas West Zone.
Figure 2 shows the location of drill holes;
SM20-032, SM20-034, SM20-037, SM20-039, SM20-044, SM20-047 in the
Texas East and West Zones. Table 3 below indicates the details of
these drilling results. All drilling results from the Phase 1 &
2 programs have now been incorporated into the MRE.
Figure 2: 3D Perspective view inclined
200 looking north-north-east,
with hole locations for SM20-032, SM20-034, SM20-037, SM20-039 -
SM20-044, SM20-047
https://www.globenewswire.com/NewsRoom/AttachmentNg/54a85ed0-aa6e-4bc3-ac64-1573eb361d39
Table 3 below indicates the drilling results
received from both the Texas East and Texas West Zones.
Table 3. Analytical and Assay Results
from Texas East Zone (Metric)
Drill Hole ID, Zone &
Interval |
From (m) |
To (m) |
Core Interval (m) |
Zn % |
Ag g/t |
Au g/t |
Pb % |
Cu % |
TEXAS ZONE |
|
|
|
|
|
|
|
|
Texas East |
|
|
|
|
|
|
|
|
SM20-039 |
65.76 |
72.09 |
6.33 |
6.96 |
157.80 |
3.42 |
2.08 |
0.23 |
Including |
65.76 |
69.75 |
3.99 |
10.91 |
183.81 |
5.29 |
3.14 |
0.21 |
|
|
|
|
|
|
|
|
|
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 sulfide units with no more than 1.68 meters of
internal skarn. Table 5 below documents; Drill Hole Azimuth, Dip,
end of hole length, and Collar Co-ordinates (Note: See details
below in QA/QC section).
Table 4. Analytical and Assay Results
from Texas West Zone (Metric)
Drill Hole ID, Zone &
Interval |
From (m) |
To (m) |
Core Interval (m) |
Cu % |
Ag g/t |
Au g/t |
Pb % |
Zn % |
TEXAS ZONE |
|
|
|
|
|
|
|
|
Texas West |
|
|
|
|
|
|
|
|
SM20-032 |
19.23 |
24.46 |
5.23 |
0.87 |
85.09 |
0.04 |
0.02 |
0.03 |
Including |
22.46 |
24.46 |
2.00 |
1.16 |
107.88 |
0.04 |
0.03 |
0.03 |
|
|
|
|
|
|
|
|
|
SM20-034 |
|
|
|
|
|
|
|
|
Interval 1: |
31.85 |
45.48 |
13.63 |
1.07 |
108.65 |
0.07 |
0.04 |
0.58 |
Including |
34.96 |
36.94 |
1.98 |
1.37 |
119.00 |
0.09 |
0.04 |
3.61 |
Including |
39.56 |
42.06 |
2.50 |
2.01 |
163.00 |
0.14 |
0.03 |
0.04 |
Interval 2: |
57.96 |
60.66 |
2.70* |
0.06 |
93.95 |
1.14 |
0.66 |
2.19 |
|
|
|
|
|
|
|
|
|
SM20-037 |
|
|
|
|
|
|
|
|
Interval 1: |
33.76 |
41.30 |
7.54 |
1.04 |
110.30 |
0.25 |
0.02 |
0.08 |
Interval 2: |
42.50 |
43.37 |
0.87† |
0.10 |
169.00 |
6.10 |
1.19 |
1.75 |
Interval 3: |
49.53 |
51.07 |
1.54 |
0.91 |
348.00 |
0.29 |
0.29 |
0.07 |
|
|
|
|
|
|
|
|
|
SM20-044 |
17.37 |
24.78 |
7.41 |
1.43 |
108.80 |
0.08 |
0.02 |
0.09 |
|
|
|
|
|
|
|
|
|
SM20-047 |
16.76 |
20.73 |
3.97 |
1.19 |
72.72 |
0.05 |
0.00 |
0.03 |
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 4.46 meters of
internal dilution. *A nominal cut-off grade of 1% Zn has been
applied to this intersection. † Denotes single sample. Table 5
below documents; Drill Hole Azimuth, Dip, end of hole length, and
Collar Co-ordinates (Note: See details below in QA/QC section).
Table 5: Drill Hole Azimuth, Dip, End of
hole length and Collar Co-ordinates
Hole ID |
Azimuth Degree |
Dip Degree |
End of hole Length (m) |
East (ft.) |
North (ft.) |
Elevation (ft.) |
SM20-032 |
104.79 |
-64.33 |
43.89 |
2311763.6 |
393645.3 |
6866.77 |
SM20-034 |
79.33 |
15.06 |
66.14 |
2311763.6 |
393645.3 |
6866.77 |
SM20-037 |
99.99 |
-14.09 |
68.64 |
2311763.6 |
393645.3 |
6866.77 |
SM20-039 |
122.39 |
-7.95 |
106.68 |
2311763.6 |
393645.3 |
6866.77 |
SM20-044 |
74.01 |
-44.98 |
46.94 |
2311763.6 |
393645.3 |
6866.77 |
SM20-047 |
60.14 |
-79.87 |
52.88 |
2311763.6 |
393645.3 |
6866.77 |
QUALITY ASSURANCE AND QUALITY CONTROL
PROCEDURES
The project employs a rigorous QC/QA program
that includes blanks, duplicates and appropriate certified standard
reference material. All samples are introduced into the sample
stream prior to sample handling/crushing to monitor analytical
accuracy and precision. The insertion rate for the combined QA/QC
samples is 10 percent or more depending upon batch sizes. 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 in the ALS facility
in North Vancouver, BC. The samples are processed by the following
methods as appropriate to determine the grades; Au-AA23-Au 30g fire
assay with AA finish, ME-ICP61-33 element four acid digest with
ICP-AES finish, ME-OG62-ore grade elements, four acid with ICP-AES
finish, Pb-OG62-ore grade Pb, four acid with ICP-AES finish,
Zn-OG62-ore grade Zn, four acid digestion with ICP-AES finish,
Ag-GRA21-Ag 30g fire assay with gravimetric finish.
The technical information in this news release
has been reviewed and approved by John Wilton, CGeol FGS, CEO and
President of BeMetals, and a “Qualified Person” as defined under
National Instrument 43-101, and approved by Larry D. Kornze,
Retired, P. Eng., Qualified Person, and Director of Thunder
Mountain Gold Inc., and a “Qualified Person” as defined by National
Instrument 43-101 standards.
The South Mountain Project
The South Mountain Mine is a polymetallic
development project focused on high-grade zinc and silver along
with associated copper, gold and lead., and is located
approximately 70 miles southwest of Boise, Idaho (See Figure 3).
The Project was intermittently mined from the late 1800s to the
late 1960s and its existing underground workings remain intact and
well maintained. Historic production at the Project has largely
come from high-grade massive sulfide bodies that remain open at
depth and along strike. According to historical smelter records,
approximately 53,642 tons of mineralized material has been mined to
date. These records also indicate average grades; 14.5% Zn,
363.42 g/t Ag, 1.98 g/t Au, 2.4% Pb, and 1.4% Cu were
realised (See NI 43-101 Technical Report: Updated Mineral Resource
Estimate for the South Mountain Project, dated May 6, 2019, Section
6.4 – Table 6.4 for more details. Available on the BeMetals website
and at www.sedar.com). Thunder Mountain Gold Inc. purchased and
advanced the project from 2007 through 2019, with expenditures into
the project of approximately US$12million.
In 2019, BeMetals Corp. purchased an option on
the Project, and has formed a Boise, Idaho-based project team that
is focused on advancing South Mountain. This team includes key
management of Thunder Mountain Gold Inc., Optionee of the Property.
The project team has completed re-establishment of the Project site
and have conducted two phases of drilling. The team continues to
build and maintain strong relations with local communities relevant
to the South Mountain Project. The Project is largely on and
surrounded by private surface land, and as such, the permitting and
environmental aspects of the Project are expected to be
straightforward. Permits are in place for underground exploration
activities and BeMetals does not anticipate significant barriers to
any future development at the Project.
Figure 3. Location of South Mountain
Project
https://www.globenewswire.com/NewsRoom/AttachmentNg/e50a4e83-0324-4c52-8550-fe4eb1369968
Other Thunder Mountain Gold Corporate
News:
On March 29, 2021 the Company’s Board of
Directors approved the sale of 2,000,000 of the 10,000,000 common
shares held in BeMetals, which were originally received in
connection with the 2019 BeMetals Option Agreement. BeMetals then
identified a prospective buyer for these shares. The Board
determined that it was important for the company to have a
sufficient funds to sustain the company into the future amid these
uncertain times.
On May 04, 2021, the Company sold 2,000,000 of
the 10,000,000 common shares held in BeMetals Corp., for a total of
CAD$800,000 ( US$556,820), less brokerage fees. The shares of
common stock were sold in an arranged transaction through the
Toronto Stock Exchange – Venture Exchange at a price of CAD$0.40
(US$0.278). This sale meets all the requirements under the terms of
the BeMetals Option Agreement. The sale was made on the Toronto
Stock Exchange-Venture Exchange pursuant to the exemption provided
in rule 904.
Regarding Thunder Mountain Gold,
Inc.
Thunder Mountain Gold Inc., a junior exploration
company founded in 1935, owns interests in base and precious metals
projects in the western U.S. The Company’s principal asset is The
South Mountain Mine, an historic former producer of zinc, silver,
gold, lead, and copper, located on private land in Owyhee County
Idaho. In February 2019, The Company entered into an option
agreement with BeMetals Corp. (www.Bemetalscorp.com) based in
Vancouver, British Columbia, Canada. Thunder Mountain Gold also
owns 100% of the Trout Creek Project – a gold exploration project
located along the western flank of the Shoshone Mountain Range in
the Reese River Valley, adjacent to and surrounded by Nevada Gold
Mines, a joint operating agreement between Barrick and Newmont
Gold, Inc. private mineral lands. For more information on Thunder
Mountain Gold, please visit the Company’s website at
www.Thundermountaingold.com.
About BeMetals Corp.
BeMetals is a precious and base metals
exploration and development company focused on becoming a leading
metal producer through the acquisition of quality exploration,
development and potentially production stage projects. The Company
has recently established itself in the gold sector with the
acquisition of certain wholly owned exploration projects in Japan.
BeMetals is also progressing both its advanced high-grade,
zinc-silver-gold-copper polymetallic underground exploration at the
South Mountain Project in Idaho through a preliminary economic
assessment, and its tier-one targeted, Pangeni Copper Exploration
Project in Zambia. Guiding and leading BeMetals’ growth strategy is
a strong board and management team, founders and significant
shareholders of the Company, who have an extensive proven record of
delivering considerable value in the mining sector through the
discovery, construction and operation of mines around the
world.
Forward-Looking Statements
This press release contains forward-looking
statements that are based on the beliefs of management and reflect
the Company’s current expectations. The forward-looking statements
in this press release include statements with respect to the
completion of the transactions contemplated with BeMetals Corp., a
Canadian Corporation. Generally, forward-looking statements can be
identified by the use of forward-looking terminology such as
“plans”, “expects”, “is expected”, “budget”, “scheduled”,
“estimates”, “forecasts”, “intends”, “anticipates”, “believes” or
variations of such words and phrases or statements that certain
actions, events or results “may”, “could”, “would”, “might” or
“will be taken”, “occur” or “be achieved” or the negative
connotation thereof. The forward-looking statements are based on
certain assumptions, which could change materially in the future,
including the assumption that the transactions contemplated with
BeMetals Corp. will be completed. By their nature, forward-looking
information involves known and unknown risks, uncertainties and
other factors that may cause actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking information. Such factors include the determination
and ability of BeMetals to complete all required option payments
and issuance of shares under the BeMetals Option Agreement, the
receipt of all required regulatory approvals and the satisfaction
of all required terms and conditions. Investors should refer to
THMG’s Form 10-K, Form 10-Q reports, and Definitive 14C Information
Statement as filed May 20, 2019, for a more detailed discussion of
risks that may impact future results. There can be no assurance
that forward-looking information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, investors should not
place undue reliance on forward-looking information.
Forward-looking information is provided as of the date of this
press release, and the Company assumes no obligation to update or
revise them to reflect new events or circumstances, except as
required in accordance with applicable laws.
Cautionary Note to
Investors
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
For further information, please contact:
Thunder Mountain Gold, Inc.
Eric T. Jones President and Chief Executive Officer
Eric@thundermountaingold.com Office: (208) 658-1037
Thunder Mountain Gold (TSXV:THM)
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