Thundermin Resources Inc.

Thundermin Resources Inc.

April 29, 2010 08:00 ET

Thundermin and Cornerstone Intersect 4.6% Copper Over 5.9 Metres, Including 14.5% Copper Over 1.5 Metres, Within A Broader Zone Assaying 2.1% Copper Over 19.6 Metres at Depth at Little Deer

TORONTO, ONTARIO--(Marketwire - April 29, 2010) - Thundermin Resources Inc. ("Thundermin") (TSX:THR) and 50% joint venture partner Cornerstone Resources Inc. ("Cornerstone") (TSX VENTURE:CGP) announce that they have intersected 2.1% Cu over a core length of 19.6 m, including intervals of 4.6% Cu over 5.9 m, and 1.8% Cu over 6.7 m, approximately 942 m below surface on the Little Deer Copper Deposit ("Deposit") which is located approximately 10 km north of Springdale in north-central Newfoundland (see Table 1 and Figure 1). The location and width of this intersection, which is the deepest significant copper mineralization intersected to date in the Deposit, suggests that there is good potential to add additional tonnes at depth at Little Deer. This potential increase in tonnes, however, is conceptual in nature and additional drilling will be required in this area of the Deposit to determine the true tonnage potential.

Table 1: Little Deer Drill Results

Hole No. East North Dip Az From To Interval Cu
  (m) (m) (°) (°) (m) (m) (m)* (%)
LD-10-32A 13,140 4,633 -75.3 326.3 740.0 741.8 1.8 8.8
and         1,002.9 1,022.5 19.6 2.1
incl         1,002.9 1,008.8 5.9 4.6
incl         1,006.3 1,007.8 1.5 14.5
incl         1,015.8 1,022.5 6.7 1.8
LD-10-32 13,140 4,633 -75.3 326.3 776.2 784.6 8.4 0.8
and         795.1 796.2 1.1 1.2
and         1073.3 1075.3 2.0 1.0
LD-10-33 13,620 4,548 -71.6 334.6 496.1 497.2 1.1+ 4.5
and         545.0 550.6 5.6 1.4
* - Reported intervals are core lengths. The true thicknesses of the various copper intersections are highly variable due to the stringer nature of the mineralization. Management, however, believes that the true thicknesses of the drill intercepts average approximately 70% - 75% of core lengths.
32A - Wedge cut from original hole 32.
+ - Interval also contains 2.7% zinc.

On July 7, 2009, Thundermin and Cornerstone reported a National Instrument 43-101 ("NI 43-101") mineral resource estimate for the Deposit comprising Indicated Resources of 1,087,000 tonnes at an average grade of 2.9% Cu and Inferred Resources of 1,950,000 tonnes at an average grade of 2.3% Cu. The mineral resource estimate was prepared by Mr. Reno Pressacco, M.Sc.(A), P.Geo., then Senior Geologist for Micon International Limited of Toronto, Ontario, an independent Qualified Person ("Q.P.") in accordance with NI 43-101. A NI 43-101 Technical Report supporting the mineral resource estimate was filed on SEDAR on August 20, 2009.

3-D modeling by Crone Geophysics & Exploration Ltd. of borehole Pulse EM geophysical surveys that were conducted in numerous drill holes in the Deposit suggested the presence of substantial conductive plates lying east of hole LD-08-16A, below holes LD-09-23 and LD-09-21, and also below holes LD-09-25A and LD-09-20 farther to the east (see Figure 1).

Hole LD-10-32 was planned to intersect the western conductive plate midway between holes LD-08-16A and LD-08-09B (on section 13,150 E) approximately 900 m below surface. This hole intersected an upper, copper bearing chlorite alteration zone as well as an extensive, locally copper bearing, chlorite alteration zone that extends from approximately 992 m to 1,142 m below surface. Unfortunately, the hole steepened significantly and was abandoned due to drilling difficulties. The best copper intervals in this hole were 0.8% Cu over a core length of 8.4 m, 1.2% Cu over 1.1 m and 1.0% Cu over 2.0 m. The deepest interval which may correlate with the main zone copper mineralization plots off the longitudinal section at 1,008 m below surface on section 13,150E. The presence of the extensive chlorite alteration zone containing copper mineralization suggests that the main zone copper mineralization persists to greater depths in this area of the Deposit.

Hole LD-10-32A, a wedge cut from hole LD-10-32, intersected high grade copper mineralization within strongly chloritized basalts at approximately 682 m and 942 m below surface (see Table 1). The upper interval assays 8.8% Cu over a core length of 1.8 m and appears to correlate with the 0.8% Cu over 8.4 m intersected in hole LD-10-32. The main copper bearing interval, which appears to correlate with the main zone mineralization in nearby holes, assays 2.1% Cu over 19.6 m, including 4.6% Cu over 5.9 m and 1.8% Cu over 6.7 m. This interval also contains two narrow barren dykes similar to those seen elsewhere at Little Deer within the main copper zone mineralization. Mineralized samples from this hole, along with samples from holes LD-10-31, LD-10-32, LD-10-33, LD-07-03A and LD-08-16B, are being sent to SGS Lakefield Research Limited ("SGS") for metallurgical testing.

Hole LD-10-33 intersected 1.4% Cu over a core length of 5.6 m within the main zone mineralization and 4.5% Cu and 2.7% Zn over 1.1 m higher in the hole. Similar zinc rich zones have been intersected elsewhere within the Deposit but their overall significance is not clearly understood at the present time.

The current drilling is part of an on-going $1,500,000 diamond drilling program comprising approximately 11,000 m of drilling employing two drills that commenced in early February 2010 (see Thundermin and Cornerstone news releases dated April 13, 2010 for assay results for the first six holes of this program). Approximately 5,280 m of drilling have been completed to date by deepening three holes, wedging of three holes and drilling three new holes from surface. The primary purpose of the current drill program is to increase the mineral resource outlined to date in the Deposit to five to six million tonnes and to obtain fresh core samples for metallurgical testing at SGS. The locations of the holes that have been, or are planned to be, drilled during the current program are shown on Figure 1. The potential increase of the current mineral resource is conceptual in nature and it is uncertain whether further exploration will result in an expansion of this mineral resource.

Little Deer Joint Venture

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 Deposit and the terms of the agreement with Weyburn can be found in numerous news releases and on Thundermin's and Cornerstone's respective websites and on SEDAR.

Qualified Person

Mr. Andrew Hussey, P.Geo., Project Geologist and Lands Manager, Cornerstone Resources Inc., is the Q.P. responsible for supervising the drilling program on the property for the purposes of NI 43-101. Mr. Hussey has also reviewed the contents of this news release for accuracy. All holes drilled by Thundermin and Cornerstone are NQ in size. Specific gravity measurements, rock quality designations 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.

About Thundermin

Thundermin is a Canadian-based mineral exploration company focused on the exploration for and the discovery of economically viable base metal and gold deposits in Canada. Thundermin has an interest in, or the right to earn an interest in 11 base metal and gold properties in Canada. Thundermin also has royalty interests in a further 28 base metal and gold properties located in Manitoba, Saskatchewan, British Columbia and Quebec, the most significant being a 2.5% net smelter return royalty in the Pelletier Lake gold deposit that is currently the focus of underground work by Alexis Minerals Corporation. Thundermin also has various shareholdings in thirteen other junior resource companies that are actively exploring for base metal, gold, chrome, vanadium-titanium and diamond deposits in Canada.

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 For us, uncertainties arise from the behavior 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 or the SEDAR website at

To view the map associated with this press release, please visit the following link:

Contact Information