Thundermin Resources Inc.

Thundermin Resources Inc.

May 22, 2014 11:23 ET

Thundermin and Rambler Intersect High Grade Copper Mineralization at Little Deer

TORONTO, ONTARIO--(Marketwired - May 22, 2014) - Thundermin Resources Inc. ("Thundermin") (TSX VENTURE:THR) and 50% joint venture partner Rambler Metals and Mining Canada Limited ("Rambler") (TSX VENTURE:RAB)(AIM:RMM) announce that they have intersected 2.9% Cu over 3.4 m and 3.8% Cu over 2.0 m, 2.1% Cu over 2.6 m, and 2.3 % Cu over 6.2 m in two separate drill holes on the Little Deer Copper Deposit ("Little Deer") (see Table 1 and Figure 1) located approximately 10 kilometres north of Springdale in north-central Newfoundland.

Table 1: Little Deer Drill Results (2014)
Hole No. NAD 83 UTM Zone 21 Dip Az From To Interval Cu
East (m) North (m) (º) (º) (m) (m) (m)* (%)
LD-14-63 571,149 5,492,702 -58.2 327.5 800.5 803.9 3.4 2.9
and 819.0 819.7 0.7 1.9
and 886.6 887.2 0.6 1.9
LD-14-63A 571,149 5,492,702 -58.2 327.5 763.3 766.3 3.0 1.0
and 775.2 777.7 2.5 1.0
LD-14-64 571,149 5,492,702 -52.6 327.6 729.6 732.6 3.0 1.0
LD-14-64A 571,149 5,492,702 -52.6 327.6 723.3 724.3 1.0 0.9
LD-14-65 571,174 5,492,756 -51.2 329.3 206.5 208.5 2.0 3.8
and 414.8 417.4 2.6 2.1
and 629.6 630.0 0.4 8.0
and 635.3 641.5 6.2 2.3
LD-14-66 571,189 5,492,780 -57.7 327.9 409.5 409.8 0.3 2.4
and 678.5 679.5 1.0 1.5
1) *The reported copper intersections are core lengths. The true thicknesses of the copper intersections are highly variable due to the nature of the mineralization.
2) The "A" suffix in the drill hole number indicates a wedge hole.

The recently completed 3,800 m drill program, which was designed to increase the mineral resources outlined to date and to further upgrade the Inferred Resources to the Indicated Resource category in the eastern portion of the deposit, consisted of four holes drilled from surface and two wedge holes. Holes LD-14-63, 63A and 65 all intersected the Little Deer Main Zone. Hole LD-14-65 also intersected two new copper zones higher in the hole grading 3.8% Cu over 2.0 m, from 206.5 to 208.5 m down the hole, and 2.1% Cu over 2.6 m, from 414.8 to 417.4 m down the hole. These two new copper zones were intersected within a previously unknown, large chlorite-sericite-silica-pyrite alteration zone and their lateral and depth extent is unknown at the present time. Hole LD-14-63 intersected two narrow copper zones, below the Little Deer Main Zone, which are possible extensions to two lenses of the Little Deer Footwall Zone Splay. Holes LD-14-64, 64A and 66 appear to have been "dyked out" as they all intersected thick sections of mafic dyke along with minor amounts of copper mineralization hosted by intensely chlorite altered basalt within the expected area of the Little Deer Main Zone.

John B. Heslop, President and Chief Executive Officer of Thundermin said "We are generally pleased with the results of the current drill program and continue to define continuity of the copper mineralization between wide-spaced, historical drill holes. Dykes which cut off the mineralization have also been intersected in previous drilling. We are currently compiling the recent drill information and planning additional holes to be drilled in order to improve the confidence level of the National Instrument 43-101 ("NI 43-101") compliant resources at Little Deer prior to undertaking a pre-feasibility study. In particular, we would like to confirm and expand the mineral resources in the Little Deer Footwall Zone Splay that is currently estimated to contain 797,000 tonnes ("t") grading 2.64% Cu (see news release dated June 22, 2011).

The Little Deer Copper Project hosts the Little Deer and Whalesback copper deposits. On June 22, 2011 and July 26, 2012, NI 43-101 compliant mineral resource estimates, which were undertaken by P&E Mining Consultants Inc. ("P&E") of Toronto, Ontario, were announced for Little Deer and Whalesback, respectively. P&E estimated that Little Deer contains Indicated Resources of 1,911,000 t at an average grade of 2.37% Cu (99.8 million lbs. Cu) and additional Inferred Resources of 3,748,000 t at an average grade of 2.13% Cu (176.0 million lbs. of Cu). P&E estimated that Whalesback contains Indicated Resources of 797,000 t grading 1.67% Cu (29.3 million lbs. Cu) and Inferred Resources of 443,000 t grading 1.57% Cu (15.3 million lbs. Cu). On a combined basis, Little Deer and Whalesback are estimated to contain Indicated Resources of 2,708,000 t grading 2.16% Cu (129.1 million lbs. Cu) and Inferred Resources of 4,191,000 t grading 2.07% Cu (191.3 million lbs. Cu). A complete summary of the mineral resources outlined to date on the Little Deer Copper Project can be found on Thundermin's website, in news releases and on SEDAR.

Little Deer Joint Venture

Under the terms of its joint venture agreement with Rambler, Thundermin has the right to increase its 50% interest in the Little Deer property to 65% by completing a feasibility study and to 75% by arranging 100% of the necessary bank financing required to place the property into commercial production. Details on Little Deer and Whalesback and the terms of the agreement with Rambler can be found in numerous Thundermin news releases and on Thundermin's website and on SEDAR.

Junior Exploration Assistance Program

Thundermin would like to acknowledge the financial support received from the Junior Exploration Assisstance Program ("JEA") of the Province of Newfoundland and Labrador in carrying out a portion of their work on Little Deer.

Qualified Persons

The NI 43-101 mineral resource estimate referred to above was prepared under the supervision of Mr. Eugene J. Puritch, P. Eng., President of P&E. Mr. Puritch is an independent Qualified Person ("Q.P.") in accordance with NI 43-101.

Mr. Andrew Hussey, P.Geo., Senior Project Geologist with Thundermin, is the Q.P. responsible for supervising all of the drilling programs at Little Deer for the purposes of NI 43-101. Mr. Hussey has also reviewed the contents of this new release for accuracy. All holes drilled by Thundermin and Rambler are NQ in size. Bulk density 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, Newfoundland 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 with its primary project being the Little Deer Copper Project as described above. Thundermin has an interest in, or the right to earn an interest in 12 base metal and gold properties in Canada. Thundermin owns a 100% interest in the Lebel Township gold property, which is located on the Kirkland Lake Main Break in the prolific Kirkland Lake gold camp. Thundermin has the right to earn a 100% interest in eight exploration licenses covering a large portion of the Stirling volcanogenic massive zinc-lead-copper-silver-gold sulphide belt located on Cape Breton Island, Nova Scotia. An initial diamond drill program undertaken on the property in 2012 was successful in intersecting copper mineralization in porphyritic volcanic rocks similar to those known to host massive sulphide deposits elsewhere. Thundermin has royalty interests in seven base metal and gold properties located in British Columbia and Quebec, the most significant being a 2.5% net smelter return royalty in the Pelletier Lake gold deposit which is under option to QMX Gold Corporation. Thundermin also has various shareholdings in twelve other junior resource companies exploring for base metal, gold, chrome, 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.


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Contact Information

  • Thundermin Resources Inc.
    John B. Heslop
    President & CEO
    (647) 344-1167

    Thundermin Resources Inc.
    James W. Gill
    (416) 450-1851