Thunder Gold updates Tower Mountain Gold Property and announces Option Grant
Thunder Gold Corp has successfully concluded all option agreements related to the Company's flagship Tower Mountain Gold Property located in the Shebandowan Greenstone Belt, 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.
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