Thundermin Resources Inc.
TSX : THR

Thundermin Resources Inc.

November 26, 2008 08:00 ET

Thundermin and Cornerstone Intersect 2.7% Cu Over 46.6 m, Including 4.7% Cu Over 16.6 m on the Little Deer Copper Property, Newfoundland

TORONTO, ONTARIO--(Marketwire - Nov. 26, 2008) - Thundermin Resources Inc. ("Thundermin") (TSX:THR) and 50% joint venture partner Cornerstone Resources Inc. ("Cornerstone") (TSX VENTURE:CGP) announce that they have intersected a substantial thickness of copper sulphide mineralization within hole LD-08-15 on the Little Deer copper property that grades 2.7% Cu over a core length of 46.6 m, including intervals of 2.0% Cu over 20.5 m and 4.7% Cu over 16.6 m (Table 1 and Figure 1). Hole LD-08-15 is a follow-up hole to LD-98-07D, located approximately 30 m to the north-northwest, that graded 2.2% Cu over a core length of 74.0 m, including intervals of 2.6% Cu over 13.0 m, 2.8% Cu over 7.3 m and 4.0% Cu over 22.0 m.




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-08-15 13580 4543 -71.9 324.8 631.8 678.4 46.6 2.7
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incl. 631.8 652.3 20.5 2.0
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incl. 661.8 678.4 16.6 4.7
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LD-08-14 13580 4543 -68.7 323.3 511.5 516.7 5.2 3.0
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LD-08-13 13090 4597 -68.5 324.5 609.1 610.6 1.5 3.4
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675.4 683.5 8.1 1.3
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incl. 675.4 678.4 3.0 1.7
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incl. 681.5 683.5 2.0 1.9
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Minor massive sulphides in large
LD-08-12 12977 4652 -66.6 315.1 alteration zone
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LD-08-11 13533 4545 -67.7 328.2 529.6 530.8 1.2 2.2
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LD-08-09A 13090 4597 -70.5 343.8 Large alteration zone
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LD-08-16 12977 4652 -72.9 319.5 Currently drilling
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(i) - Reported intervals are core lengths - true thicknesses yet to be
determined

A - Previous holes deepened



The copper-rich sulphide intersection in hole LD-08-15 consists of disseminated, stringer, semi-massive and massive sulphides containing variable amounts of chalcopyrite, pyrrhotite and pyrite within strongly altered mafic volcanic rocks. This intersection, as well as that in hole LD-98-07D, lie to the north of the high-grade copper horizon (the "Main Zone") that has been the focus of the drilling program carried out on the property to date. The exact attitude and lateral extent of this high-grade copper mineralization is unclear at the present time. However, this mineralization remains open along strike and to depth and the possibility exists of developing a high-grade copper mineral resource in this area of the property.

Recently completed hole LD-08-14 intersected a zone of chalcopyrite, pyrrhotite and pyrite mineralization grading 3.0% Cu over a core length of 5.2 m within strongly altered mafic volcanics, which correlates with the Main Zone mineralization. Minor amounts of sphalerite, chalcopyrite and pyrite mineralization were also encountered in this hole at the projected location of the mineralization intersected in holes LD-98-07D and LD-08-15.

In the western portion of the property, holes LD-08-09A, LD-08-12 and LD-08-13 were drilled to evaluate the predominantly semi-massive to massive pyrrhotite-chalcopyrite mineralization encountered in hole LD-08-10A that assayed 2.2% Cu over 16.8 m, including 3.9% Cu over 5.9 m (Table 1 and Figure1). Hole LD-08-09A intersected a large alteration zone that is interpreted to be associated with the massive sulphide mineralization encountered in hole LD-08-10A. Hole LD-08-12 intersected 0.3 m of massive sulphides within a large zone of strongly altered mafic volcanics containing disseminated sulphides which are interpreted to be the upper edge of the massive sulphides encountered in hole LD-08-10A. Hole LD-08-13 intersected two zones of stringer pyrrhotite-chalcopyrite-pyrite mineralization in altered mafic volcanics assaying 3.4% Cu over 1.5 m and 1.3% Cu over 8.1 m. Hole LD-08-16 is currently being drilled to intersect the projected copper mineralization approximately 100 m below the intersection in hole LD-08-10A.

Borehole Pulse EM surveys were recently completed on historical hole LD-00-12 and new holes LD-07-01A, LD-08-09A, LD-08-10A, LD-08-11, LD-08-12 and LD-08-13 to better understand the possible extent of the copper mineralization in the vicinity of these holes. Holes LD-08-12 and LD-08-13 both contain strong, 20-channel off-hole responses suggesting that a conductive body exists a short distance below each of these holes. Hole LD-08-10A contains a strong, 20-channel in-hole response which corresponds to the massive sulphides encountered in this hole. The profile of the anomaly in hole LD-08-10A, in conjunction with the geophysical responses in the other nearby holes along with the extensive alteration zone encountered in hole LD-08-09A, suggests the sulphide mineralization encountered in hole LD-08-10A could occur over a considerable area beneath holes LD-08-12 and LD-08-13 and east, west and below hole LD-08-10A. The geophysical interpretation of the downhole responses for holes LD-00-12, LD-07-01A and LD-08-11 are pending.

A 227 line km airborne VTEM magnetics and EM geophysical survey was recently completed over claims lying immediately east of the Little Deer and Whalesback copper deposits. These claims cover geology prospective for base metal and/or gold deposits. The VTEM survey successfully identified five conductive trends within the southeast portion of the property which are considered to be priority targets and warrant future follow-up.

The past-producing Little Deer copper property is located approximately 10 km north of Springdale in north-central Newfoundland. High-grade copper mineralization has now been intersected on the property over a strike length of approximately 900 m and to a vertical depth of approximately 700 m. In addition, a surface DEEPEM geophysical conductor, which is coincident with the copper mineralization, is interpreted to extend 300 m southwest of the intersection in hole LD-08-10A. The current diamond drilling and borehole and airborne geophysical surveys are part of an approximately $1,000,000 exploration program that will be completed by year end. Diamond drilling during the remainder of 2008 will focus on the delineation of the high-grade copper mineralization intersected in hole LD-08-10A with the view of being able to undertake a preliminary resource calculation for the property.

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, June 17 and July 25, 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. Hussey is also 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 measurements, 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 a portion of their work on the Little Deer property.

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/THRmap1.pdf

Contact Information

  • Thundermin Resources Inc.
    John B. Heslop
    President & CEO
    (647) 344-1167
    or
    Thundermin Resources Inc.
    James W. Gill
    Chairman
    (416) 450-1851
    Email: info@thundermin.com
    Website: www.thundermin.com