ELKO, Nev. and BOISE, Idaho, Jan. 10,
2011 /PRNewswire/ -- Thunder Mountain Gold, Inc. (Company)
(OTC Bulletin Board: THMG; TSX-V: THM), a U.S.-based exploration
company focused on discovering and defining high grade, high
quality precious and base metal resources, released the final
results of the 2010 drilling program at its South Mountain Project,
Owyhee County, Idaho which
includes the interception of high grade zinc and confirms the
extension of the historic ore zones at the South Mountain Mine.
In addition to the five holes drilled into the new intrusive
breccia target to the south of the historic mine area, two reverse
circulation holes were drilled to test the down-dip extensions of
two of the nine historic carbonate-hosted polymetallic ore zones at
the historic mine. The last hole, LO 7, which was placed to
test the down-dip extension of the Laxey ore shoot, intercepted 25
feet (600-625 feet) of 8.56% zinc and 1.15 ounce per ton (opt)
silver. This intercept proves the extension of the Laxey ore
zone approximately 120 feet below the maximum depth mined during
World War II when over 51,000 tons of sulfide ore were mined and
direct shipped to the Anaconda smelter in Utah. The grade of this ore mined over
the 800 feet of shaft and stope mining was 15% zinc, 10 opt silver,
0.06 opt gold, 2.3% lead and 0.7% copper.
Drillhole LO 6 was placed to test the down-dip extension of the
historic DMEA 2 ore shoot. As previously reported, this hole
proved the down-dip extension of the sulfide mineralization to at
least 415 feet below the Sonneman Level of the underground
workings. This hole cut 30 feet (760-790 feet) of 3.55% zinc,
1.87 opt silver and 0.271% copper, and 15 feet of 0.06 opt gold
internal to the 10 foot intercept.
"We have been particularly pleased with the portion of the 2010
drilling program that tested the extensions of the sulfide ore
zones at South Mountain," said Jim
Collord, President and CEO of the Company. "The
positive intercepts demonstrate that the high-grade mineralization
continues and is open to depth. We are planning our detailed
core drilling at South Mountain for 2011 to target the extensions
of the historic high-grade polymetallic ore zones in order to
expand our base and precious metal resource."
The reverse circulation drilling was done under contract with
EnviroTech Drilling of Winnemucca,
Nevada. Samples were shipped directly to ALS-Chemex
for sample preparation and assaying with insertion of appropriate
standards and blanks. Assay results from the 2010 drill program at
South Mountain will be used to update resource categories in the
South Mountain NI 43-101 Technical Report.
Qualified Person – G. Peter
Parsley, Professional Geologist, is the Qualified Person as
defined by National Instrument 43-101 responsible for the technical
data reported in this news release.
About Thunder Mountain Gold, Inc.:
Thunder Mountain Gold, founded in 1935, is an exploration
company focused on discovering and defining quality, high grade
precious and base metal projects, primarily in politically stable
regions such as the Western United
States. Thunder Mountain Gold performs its own natural
resource exploration and generates value for shareholders by
demonstrating the value of its properties through a comprehensive
drilling program and then seeking strategic partners to move the
properties into production. South Mountain, its flagship
property located in Owyhee County,
Idaho – just north of the Nevada border, is 100% owned/controlled with a
mostly private land package of over 1,200 acres. The
Company's other precious metals properties include Clover Mountain
in Idaho, the Trout Creek and
West Tonopah in Nevada, along with two properties in
Arizona.
Forward-Looking Statements: Statements made which are not
historical facts, such as anticipated production, exploration
results, costs or sales performance are "forward-looking
statements", and involve a number of risks and uncertainties
that could cause actual results to differ materially from those
projected, anticipated, expected or implied. These risks and
uncertainties include, but are not limited to, metals prices
volatility, volatility of metals production, exploration project
uncertainties, industrial minerals market conditions and project
development risks. Refer to the Company's Periodic Filings
for a more detailed discussion of factors that may impact expected
future results. Thunder Mountain Gold undertakes no
obligation to publicly update or revise any forward-looking
statements.
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. The United States Securities and Exchange
Commission ("SEC") permits mining companies, in their filings with
the SEC, to disclose only those mineral deposits that a company can
economically and legally extract or produce.
SOURCE Thunder Mountain Gold