Category: Uncategorized
- Published: 29 November -0001
Thundermin and Cornerstone Intersect Massive Sulphide Mineralization Assaying 2.2% Cu Over 16.8 m, Including 3.9% Cu Over 5.9 m, on the Little Deer Property, Newfoundland
Thundermin Resources Inc. (\"Thundermin\") (TSX: THR) and 50% joint venture partner Cornerstone Resources Inc. (\"Cornerstone\") (TSX: CGP) announce that they have intersected intervals of predominantly massive to semi-massive sulphide mineralization on the Little Deer property that assays 2.2% Cu over a core length of 16.8 m, including 3.9% Cu over 5.9 m. This intersection, which was encountered by deepening previous hole LD-08-10, contains three separate intervals comprised of up to 80-90% pyrrhotite-chalcopyrite mineralization within moderately to intensely altered mafic volcanic rocks (Table 1, Figure 1).
Table 1: Little Deer Drill Results
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Hole No. East North Dip Az From To Interval Cu
(m) (m) (degrees) (degrees) (m) (m) (m)(i) (%)
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LD-08-10A 12983 4655 -69.9 315.1 794.1 810.9 16.8 2.2
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incl. 794.1 796.4 2.3 3.5
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incl. 799.9 801.7 1.8 2.5
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incl. 799.9 810.9 11.0 2.6
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incl. 805.0 810.9 5.9 3.9
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LD-07-01A 13486 4513 -68.0 325.0 680.2 682.4 2.2 6.0
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697.7 698.2 0.5 6.0
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(i) - Reported intervals are core lengths
A - Previous holes deepened
Interval from 805.0 to 810.9 in LD-08-10A also contains 0.06% cobalt
Holes LD-08-09 and LD-08-10 were drilled previously in the western portion of the Little Deer property to test the projection of a surface DEEPEM geophysical conductor which is coincident with high grade copper mineralization in the eastern portion of the property. Borehole Pulse EM geophysical surveys completed on both of these holes revealed strong, 20 channel, off-hole responses at the bottom of both holes suggesting the presence of a conductive source beyond the end of each hole. The recent deepening of hole LD-08-10 has resulted in the discovery of a zone containing massive to semi-massive pyrrhotite-chalcopyrite mineralization at a vertical depth of approximately 700 m. This intersection, which is approximately 475 m west of the intersection in historical hole LD-00-12 that assayed 3.8% Cu over a core length of 10.8 m, is the westernmost and deepest intersection on the property and contains the most massive sulphide mineralization intersected to date. High-grade copper mineralization has now been intersected on the Little Deer property over a strike length of approximately 900 m, between a vertical depth of 250 m to 700 m. Also, the surface DEEPEM conductor that is coincident with the copper mineralization is interpreted to extend at least another 300 m southwest of the intersection in hole LD-08-10A.
Hole LD-07-01A was deepened to test the westward extension of the recently released intersection in hole LD-98-07D that assayed 2.2% Cu over a core length of 74 m, including intervals of 2.6% Cu over 13.0 m, 2.8% Cu over 7.3 m, 2.9% Cu over 10.6 m and 6.5% Cu over 8.6 m (news release dated June 17, 2008). This hole, which is located approximately 100 m to the west, intersected several high-grade, but relatively narrow, chalcopyrite-pyrrhotite stringers and minor disseminated sphalerite within moderately to strongly altered mafic volcanics. The best intervals include 6.0% Cu over 2.2 m and 6.0% Cu over 0.5 m. Hole LD-08-11 was drilled approximately 50 m west of hole LD-98-07D. This hole also intersected minor chalcopyrite and sphalerite mineralization within moderately to intensely altered mafic volcanics but failed to intersect significant copper mineralization. Assays are awaited for this hole. Additional drilling is required in this area to determine the extent and orientation of the high-grade copper mineralization intersected in hole LD-98-07D.
Thundermin and Cornerstone have approved an exploration budget of approximately $1,000,000 for the remainder of 2008. This budget will provide for an estimated 6,500 m of diamond drilling, borehole Pulse EM surveys, 3-D modeling of all diamond drill holes and reconnaissance follow-up on any conductors that may have been detected during a recently completed 225 km VTEM airborne EM survey covering prospective ground lying immediately east of the Little Deer and Whalesback copper deposits. Diamond drilling during the remainder of 2008 will focus on the delineation of the high-grade copper mineralization intersected in holes LD-08-10A, LDA-A?1/298-07D, historical hole LD-00-12 and the deepening of hole LD-08-09 with the view of being able to undertake a preliminary resource calculation for the property by the end of the year.
Thundermin, the operator, and Cornerstone have the option, on a 50/50 basis to earn a 100% interest in the Little Deer copper deposit and adjacent property from Weyburn Investments Ltd. Thundermin, under its joint venture agreement with Cornerstone, has the right to increase its interest in the Little Deer property to 75% by completing a feasibility study and by arranging 100% of the necessary bank financing required to place the property into commercial production. Details on the Little Deer copper deposit and the terms of the agreement with Weyburn can be found in news releases dated May 1, June 21, July 9, October 30, December 11, 2007 and January 24, April 9, May 15, June 6 and June 17, 2008 and on Thundermin\'s and Cornerstone\'s respective websites and on SEDAR.
Mr. Andrew Hussey, P.Geo., Project Geologist and Lands Manager, Cornerstone Resources Inc., is the qualified person that is responsible for supervising the drilling program on the property for the purposes of National Instrument 43-101. Mr. Terry Brace, V.P. Exploration for Cornerstone, is the qualified person that has reviewed and approved the contents of this release. All 2007 and 2008 drill holes are NQ in size. Specific gravity, rock quality determinations 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 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.
Thundermin and Cornerstone would like to acknowledge the financial support received from the Junior Exploration Assistance (JEA) Program of the Province of Newfoundland and Labrador in carrying out the above referenced diamond drilling program.
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 behaviour 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.
For further information on Thundermin Resources Inc. please visit Thundermin\'s website at www.thundermin.com or the SEDAR website at www.sedar.com.
To view a map of the LDJV-Little Deer Project, please visit the following link: http://media3.marketwire.com/docs/thrmap.pdf
Contacts: Thundermin Resources Inc. John B. Heslop President & CEO (416) 364-0001 Thundermin Resources Inc. James W. Gill Chairman (416) 450-1851 Email: This email address is being protected from spambots. You need JavaScript enabled to view it. Website: www.thundermin.com
SOURCE: Thundermin Resources Inc.
mailto:This email address is being protected from spambots. You need JavaScript enabled to view it. http://www.thundermin.com
