Thundermin Resources Inc.
TSX : THR

Thundermin Resources Inc.

August 27, 2009 08:00 ET

Thundermin and Cornerstone Intersect Additional Copper and Zinc Mineralization at Little Deer

TORONTO, ONTARIO--(Marketwire - Aug. 27, 2009) - Thundermin Resources Inc. ("Thundermin") (TSX:THR) and 50% joint venture partner Cornerstone Resources Inc. ("Cornerstone") (TSX VENTURE:CGP) announce that they have intersected additional copper mineralization along with a new zone of zinc mineralization at the Little Deer copper project which is located approximately 10 km north of Springdale in north-central Newfoundland.

Assay results for the final four holes of a $900,000 diamond drilling program comprising 7,156 m of drilling in nine holes, which was completed at the end of July 2009, are presented in Table 1.



Table 1: Little Deer Drill Results (2009)

----------------------------------------------------------------------------
Dip Az
Hole No. East North deg- deg- From To Interval Cu Zn
(m) (m) (rees) (rees) (m) (m) (m)(i) (%) (%)
----------------------------------------------------------------------------
LD-09-23 13,142 4,640 -70.7 315.2 803.3 807.0 3.7 2.4 -
----------------------------------------------------------------------------

----------------------------------------------------------------------------
LD-09-24 13,001 4,667 -72.2 336.2 751.7 755.9 4.2 2.6 -
----------------------------------------------------------------------------

----------------------------------------------------------------------------
LD-09-25 13,494 4,532 -71.8 326.0 703.9 713.4 9.5 - 1.8
----------------------------------------------------------------------------
811.5 821.0 9.5 1.6 -
----------------------------------------------------------------------------

----------------------------------------------------------------------------
LD-09-25A 13,494 4,532 -71.8 326.0 612.4 619.4 7.0 - 0.8
----------------------------------------------------------------------------
and 654.5 656.9 2.4 2.2 -
----------------------------------------------------------------------------
and 753.2 754.7 1.5 5.0 -
----------------------------------------------------------------------------
786.4 790.3 3.9 3.3 -
----------------------------------------------------------------------------

(i) - Reported intervals are core lengths - true widths are yet to be
determined.
A - Wedge hole


On July 7, 2009, Thundermin and Cornerstone announced that Micon International Limited ("Micon") of Toronto, Ontario had completed a National Instrument 43-101 ("NI 43-101") compliant mineral resource estimate for the Little Deer Copper Deposit ("Deposit") under the supervision of Mr. Reno Pressacco, M.Sc.(A), P.Geo., Senior Geologist with Micon and an independent Qualified Person ("QP") in accordance with NI 43-101. Micon estimated that the Deposit contains 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. To date, the Deposit has been outlined to varying degrees of detail over a strike length of approximately 1,050 m and to a vertical depth of approximately 895 m. The Deposit remains open to the east, west and at depth. Micon concluded in the supporting NI 43-101 Technical Report that the potential exists for the discovery of additional mineral resources on the property.

Holes LD-09-23, 25 and 25A intersected additional copper mineralization which lies outside of the mineral resource block defined by Micon. Therefore, these new intersections would be expected to increase the overall tonnage for the Deposit. In addition, holes LD-09-25 and LD-09-25A intersected a new zone of zinc mineralization, consisting of disseminated to stringer sphalerite within mafic volcanic rocks, that is interpreted to occur stratigraphically above the copper mineralization intersected to date. The best zinc zone assayed 1.8% Zn over 9.5 m from 703.9 to 713.4 within hole LD-09-25. The geological and economic significance of this zinc zone is not known at the present time as no other holes have been drilled in this area.

Hole LD-09-24, an infill hole in the western portion of the Deposit, intersected 2.6% Cu over a core length of 4.2 m. This intersection is approximately 50 m below the intersection in hole LD-09-22, that assayed 3.8% Cu over 9.1 m, and 75 m above and to the west of the intersection in hole LD-09-23 (see Table 1).

It is anticipated that a new diamond drilling program will commence on the Deposit in September 2009. This program will be primarily designed to expand on the mineral resources defined to date. The details and magnitude of this program will be announced once it has been agreed upon by the joint venture partners.

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, July 25, November 26, 2008 and February 25, May 12, June 16, July 7, July 16, and August 20, 2009 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 Q.P. that is responsible for supervising the drilling program on the property for the purposes of NI 43-101. Mr. Hussey is also the Q.P. that has reviewed and approved the contents of this release. All holes drilled by Thundermin and Cornerstone 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 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.

Visit Thundermin's website at www.thundermin.com or the SEDAR website at www.sedar.com.

To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/thunderminfigure1.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
    info@thundermin.com