Thundermin Resources Inc.
TSX : THR

Thundermin Resources Inc.

February 25, 2009 08:00 ET

Thundermin and Cornerstone Provide an Update on the Little Deer Copper Property, Newfoundland

TORONTO, ONTARIO--(Marketwire - Feb. 25, 2009) - Thundermin Resources Inc. ("Thundermin") (TSX:THR) and 50% joint venture partner Cornerstone Resources Inc. ("Cornerstone") (TSX VENTURE:CGP) announce that a $900,000 exploration program consisting of approximately 5,800 m of diamond drilling and borehole Pulse EM surveys has been approved for the first half of 2009 for the Little Deer copper property which is located approximately 10 km north of Springdale in north-central Newfoundland.

The last two holes of the 2008 drilling campaign on the Little Deer property, LD-08-16 and LD-08-17, intersected significant copper mineralization (Table 1 and Figure 1). Hole LD-08-16 intersected 1.3% Cu over a core length of 31.1 m, including 1.5% Cu over 18.8 m and 4.0% Cu over 3.4 m at a vertical depth of -828 m. This hole intersected the mineralized zone approximately 120 m below hole LD-08-10A, which intersected 2.2% Cu over 16.8 m, including 3.9% Cu over 5.9 m. These are the westernmost holes drilled to date by the joint venture partners on the property. The copper mineralization in this area remains open to the east and west and at depth. Hole LD-08-17 intersected three separate mineralized zones grading 1.8% Cu over 6.6 m, 1.0% Cu over 11.3 m and 2.2% Cu over 3.5 m at a vertical depth of -539 m. This hole is approximately 60 m west of historical hole LD-00-12 that intersected 3.8% Cu over 10.7 m (Figure 1).

The copper mineralization on the Little Deer property has now been intersected over a strike length of approximately 1,050 m and to a vertical depth of approximately 800 m.




Table 1: Little Deer Drill Results (2008)

-------------------------------------------------------------------------
Dip Az
East North (deg- (deg- From To Interval Cu
Hole No. (m) (m) rees) rees) (m) (m) (m)(i) (%)
-------------------------------------------------------------------------
LD-08-16 12,987 4,636 -72.0 319.5 888.3 919.4 31.1 1.3
-------------------------------------------------------------------------
incl 888.3 907.1 18.8 1.5
-------------------------------------------------------------------------
incl 888.3 891.7 3.4 4.0
-------------------------------------------------------------------------
incl 897.1 907.1 10.0 1.4
-------------------------------------------------------------------------

-------------------------------------------------------------------------
LD-08-17 13,404 4,499 -61.9 311.4 602.0 608.6 6.6 1.8
-------------------------------------------------------------------------
and 626.9 638.2 11.3 1.0
-------------------------------------------------------------------------
incl 626.9 631.5 4.6 1.6
-------------------------------------------------------------------------
incl 636.2 638.2 2.0 1.6
-------------------------------------------------------------------------
and 667.0 670.5 3.5 2.2
-------------------------------------------------------------------------

(i) Reported intervals are core lengths - true thicknesses yet to be
determined.


A review of the underground diamond drilling undertaken on the Little Deer property by British Newfoundland Exploration Company ("BRINEX") in 1967-68 has been completed to the extent possible from known historical records (Historical data recovered from BRINEX mine records stored in the archives of the Department of Natural Resources, Government of Newfoundland and Labrador, St. John's,



Table 2: Historical Underground Drill Results

-------------------------------------------------------------------------
Dip Az
East North (deg- (deg- From To Interval Cu
Hole No. (m) (m) rees) rees) (m) (m) (m)(i) (%)
-------------------------------------------------------------------------
8-146 13,977 4,713 -11.7 154.1 93.2 109.7 16.5 3.0
-------------------------------------------------------------------------
incl. 93.2 100.8 7.6 5.3
-------------------------------------------------------------------------
8-147 13,977 4,713 -33.1 153.6 118.9 126.5 7.6 2.8
-------------------------------------------------------------------------
8-150 13,947 4,721 -34.0 151.5 65.5 78.3 12.8 3.5
-------------------------------------------------------------------------
incl. 74.7 76.2 3.7 7.0
-------------------------------------------------------------------------
and 95.4 119.6 24.2 1.8
-------------------------------------------------------------------------
incl. 114.3 119.6 5.3 4.1
-------------------------------------------------------------------------
8-151 13,947 4,721 -15.2 150.7 51.8 57.6 5.8 2.3
-------------------------------------------------------------------------
and 65.5 73.1 7.6 1.1
-------------------------------------------------------------------------
and 85.3 87.7 2.4 4.4
-------------------------------------------------------------------------
8-152 13,947 4,721 -8.0 151.5 42.7 59.5 16.8 1.7
-------------------------------------------------------------------------
8-159 13,981 4,729 -17.6 151.2 53.3 60.9 7.6 1.2
-------------------------------------------------------------------------
8-160 13,981 4,729 -27.3 151.2 57.3 68.9 11.6 2.1
-------------------------------------------------------------------------
8-161 13,981 4,729 -36.1 151.9 73.1 83.5 10.4 2.5
-------------------------------------------------------------------------
8-162 13,916 4,729 -36.1 152.5 71.6 77.2 5.6 4.6
-------------------------------------------------------------------------
8-163 13,916 4,729 -26.4 149.9 58.5 61.6 3.1 2.6
-------------------------------------------------------------------------
8-166 13,825 4,754 -47.1 153.2 72.5 75.9 3.4 2.0
-------------------------------------------------------------------------
8-167 13,795 4,754 -54.0 151.5 81.2 84.7 3.5 6.0
-------------------------------------------------------------------------
8-168 13,764 4,755 -51.0 151.5 60.2 62.2 2.0 3.9
-------------------------------------------------------------------------
8-170 13,961 4,722 -32.0 151.5 71.6 73.1 1.5 2.3
-------------------------------------------------------------------------
8-171 13,961 4,722 -22.0 151.5 59.4 77.4 18.0 5.8
-------------------------------------------------------------------------
incl. 70.7 77.4 6.7 10.0
-------------------------------------------------------------------------
and 102.1 108.8 6.7 2.6
-------------------------------------------------------------------------
8-173 13,992 4,711 -12.0 151.5 22.4 25.6 3.2 1.0
-------------------------------------------------------------------------
8-174 13,992 4,711 -29.0 151.5 108.2 111.3 3.1 2.1
-------------------------------------------------------------------------
8-175 14,038 4,681 -18.0 149.9 91.4 92.9 1.5 1.7
-------------------------------------------------------------------------
and 112.2 115.9 3.7 7.0
-------------------------------------------------------------------------
and 131.1 132.3 1.2 3.1
-------------------------------------------------------------------------
8-177 13,852 4,577 -60.0 14.5 160.6 162.1 1.5 0.9
-------------------------------------------------------------------------
8-178 13,849 4,577 -60.0 331.5 166.1 172.2 6.1 1.4
-------------------------------------------------------------------------
8-179 13,847 4,577 -56.0 299.5 210.3 213.4 3.1 5.2
-------------------------------------------------------------------------
8-180 13,852 4,575 -53.0 49.5 194.0 195.1 1.1 5.5
-------------------------------------------------------------------------

- The majority of these holes were drilled from a cross-cut from the
Whalesback Mine and the intersections are true widths or approach true
widths.

- Holes 1 (2.4% Cu/4.9 m), 2 (1.1% Cu/3.4 m), 3 (2.4% Cu/2.7 m), 4
(0.7% Cu/1.5 m), 5 (2.4% Cu/2.7 m), 6 (1.3% Cu/35.4 m) and 7
(3.4% Cu/3.1 m) shown on Figure 1: - the hole locations and copper
intersections for these holes were recovered from an historical
longitudinal section but attempts to recover the actual drill logs from
the historical files have been unsuccessful.


Newfoundland). The holes of primary significance to the joint venture are shown in Table 2, in the notes to Table 2 and on Figure 1. Most of the BRINEX holes were drilled from a cross-cut from the past-producing Whalesback Mine, which is located on joint venture property approximately 1,000 m to the north of the Little Deer copper deposit. These holes intersected the copper-bearing zone from a vertical elevation of -210 m to 380 m and the recorded intersections represent close to true widths. Of significance, is the excellent continuity of good grade copper mineralization in this area of the deposit along with the potential for increased tonnages in the area of holes 8-146, 147, 150, 151, 161 and 170. In addition, the intersections in holes 8-173, 174, 175 and 180 suggest that the copper mineralization extends farther to the east than previously thought.

Priority targets for the current drill program, which will commence immediately and run through the end of June 2009, include the area around holes LD-98-07D (2.2% Cu over a core length of 74.0 m) and LD-08-15 (2.7% Cu over 46.6 m); the area east and west of hole LD-08-10A (2.2% Cu over 16.8 m); a new and previously untested, VTEM airborne conductor situated along the northwest shore of Little Deer Pond; and on the -400 m elevation below historical holes LD-66-136 (2.0% Cu over 6.1 m) and LD-66-122 (1.6% Cu over 2.6 m) (Figure 1).

The thick zone of copper mineralization intersected in holes LD-98-07D and LD-08-15 appears to occur to the north of the main zone mineralization where it remains open for considerable distances, especially down dip (plunge?) and to the east. The exact relationship of this mineralization to the main zone mineralization is unknown at the present time as only three wide-spaced holes located from 100 m to 150 m west and above this mineralization, have been drilled this far north in this area of the property. Likewise, the copper mineralization intersected in hole LD-08-10A remains open to the east, west and at depth. Both of these areas offer opportunities for expanding the mineralized zone and require further drilling to better define the extent and significance of the copper mineralization intersected to date.

A geophysical conductor was identified on two 100 m spaced flight lines along the northwest side of Little Deer Pond during a VTEM electromagnetic and magnetic survey flown in the fall of 2008. This conductor, which occurs at a vertical depth of approximately -350 m and exhibits good conductivity, is previously untested. The conductor may represent a new zone of copper-bearing sulphide mineralization or it could be a faulted or folded extension of the Little Deer mineralization.

The Little Deer property also appears to have resource potential at shallower depths. A couple of wide-spaced holes on the -400 m elevation are planned to further evaluate the area immediately west of the main area of drilling. Here there are two 1966 holes containing appreciable copper mineralization that require follow-up.

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 and November 26, 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 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/SchematicLongitudinalSectionFIG1.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