Thundermin Resources Inc.
TSX : THR

Thundermin Resources Inc.

May 12, 2009 08:00 ET

Thundermin and Cornerstone Continue to Intersect High Grade Copper Mineralization on the Little Deer Copper Deposit, Springdale Area, Newfoundland

TORONTO, ONTARIO--(Marketwire - May 12, 2009) - Thundermin Resources Inc. ("Thundermin") (TSX:THR) and 50% joint venture partner Cornerstone Resources Inc. ("Cornerstone") (TSX VENTURE:CGP) announce that they have intersected 6.0% Cu over a core length of 3.8 m in hole LD-09-20 on the Little Deer Copper Deposit (the "Deposit") within a wider mineralized interval that grades 2.5% Cu over 12.0 m. In addition, hole LD-09-21 intersected 2.1% Cu over a core length of 6.3 m (Table 1 and Figure 1). To date, the copper mineralization in the Little Deer Deposit has been intersected over a strike length of approximately 1,050 m and to a vertical depth of approximately 800 m. The Deposit remains open to the east, west and at depth.



Table 1: Little Deer Drill Results (2009)

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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-09-20 13,577 4,545 -72.7 337.5 710.6 722.6 12.0 2.5
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incl. 718.8 722.6 3.8 6.0
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incl. 715.1 722.6 7.5 3.5
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LD-09-21 13,396 4,514 -68.1 319.3 761.9 768.2 6.3 2.1
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LD-09-19 13,493 4,532 -60.6 333.5 No significant values
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LD-09-22 13,000 4,670 -70.6 332.0 Hole currently drilling
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- Reported intervals are core lengths - true widths are yet to be determined.

- Note - hole LD-09-18, the first hole of the current drill program, did not target the Little Deer Copper Deposit shown in Figure 1.

The current diamond drilling program is part of a $900,000 exploration program consisting of approximately 5,800 m of drilling and borehole Pulse EM surveys that was announced on February 25, 2009 for the Little Deer copper property for the first half of 2009. Approximately 3,000 m of drilling in four holes has been completed to date. The current drill program is ongoing and is expected to be finished near the end of June. Micon International Limited ("Micon") has been retained to prepare an initial National Instrument 43-101 compliant mineral resource estimate for the Deposit based on all drill hole data available as at approximately May 15, 2009. It is anticipated that Micon will complete this resource estimate early in the third quarter of 2009.

The copper-rich sulphide intersection in hole LD-09-20 occurs 678 m below surface and is the deepest intersection drilled to date in this area of the Deposit. This intersection, which consists of disseminated, stringer, semi-massive and massive sulphides containing variable amounts of chalcopyrite, pyrrhotite and pyrite within strongly altered mafic volcanic rocks, occurs approximately 40 m east of and 65 m below the intersection in hole LD-08-15 that graded 2.7% Cu over 46.6 m.

Hole LD-09-21 intersected copper sulphide mineralization at a vertical depth of approximately 700 m that grades 2.1% Cu over 6.3 m. This intersection occurs 30 m west and 132 m below hole LD-00-12 that graded 3.8% Cu over 10.7 m (Figure 1).

Hole LD-09-19 was collared to intersect the westward projection of the Little Deer copper-bearing zone at a vertical depth of approximately 400 m and approximately 175 m below historical hole LD-66-122 that graded 1.6% Cu over 2.6 m (Figure 1). This hole intersected the copper-bearing zone but returned no significant values.

Hole LD-09-22 is currently drilling and has been collared to intersect the main copper-bearing zone approximately 100 m east of the intersection in hole LD-08-10A that graded 2.2% Cu over 16.8 m, including 3.9% Cu over 5.9 m.

Hole LD-09-18 was collared to intersect a geophysical conductor that was outlined by a VTEM survey flown over a portion of the Little Deer property in July 2008. This conductor, which may coincide with a separate mineralized zone, occurs approximately 200 m southeast of the main Little Deer copper-bearing zone that has been the focus of the recent diamond drilling on the property. Hole LD-09-18 intersected the geophysical target at a vertical depth of approximately 390 m and intersected moderately to intensely altered mafic volcanics containing less than 2% disseminated pyrite and local trace chalcopyrite. A borehole Pulse electromagnetic survey will be conducted on this hole in the future to determine if there is any significant sulphide mineralization near the hole that was missed by the drilling.

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, 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 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 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 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 Figure 1, please visit the following link: http://media3.marketwire.com/docs/thr0512figure1.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