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Thunder Gold Expands Its Footprint in the Shebandowan Greenstone Belt and Completes Option on Tower Mountain
Thunder Bay, Ontario--(Newsfile Corp. - June 12, 2023) - Thunder Gold Corp. (TSXV: TGOL) (FSE: Z2...
About this update from Thunder Gold Corp.
[{"type":"text","content":"Thunder Gold Expands Its Footprint in the Shebandowan Greenstone Belt and Completes Option on Tower MountainThunder Bay, Ontario--(Newsfile Corp. - June 12, 2023) - Thunder Gold Corp. (TSXV: TGOL) (FSE: Z25) (OTCQB: TGOLF) (formerly White Metal Resources Corp) (\"Thunder Gold\" or the \"Company\") is pleased to announce that it has expanded its footprint in the Shebandowan Greenstone Belt, by agreeing to purchase a 100% interest in 565 hectares (49 mineral claims) (REF. FIGURE 1) from Metalla Royalty and Streaming Ltd. (\"Metalla\"). The Company is also pleased to announce that it has completed its option agreement with Mr. Mel Stewart and now holds a 100% interest in the 2,010-hectare Tower Mountain property, located 50 kms west of Thunder Bay, ON. Highlights:Added 565 hectares (49 mineral claims) contiguous to the Tower Mountain Property;Earned a 100% interest in the Stewart claims (2,010 hectares);Increased footprint in the eastern Shebandowan Greenstone Belt to 2,575 hectares. Terms of the Metalla Mineral Claims Acquisition:On receipt of the TSX Venture Exchange approval, the Company shall issue 4,000,000 common shares to Metalla, such shares to be subject to the customary four (4)-month hold period. Metalla shall retain a 2% Net Smelter Royalty (\"NSR\") royalty payable on the claims acquired. Wes Hanson (P.Geo.), CEO of Thunder Gold, notes: \"We are pleased to advise shareholders that we hold clear title to 2,575 hectares of highly prospective geology in the eastern Shebandowan Greenstone Belt ('SGB'). Tower Mountain is the most advanced property in the eastern SGB, with twenty-four (24) known gold showings and 190 diamond drill holes (41,250 metres). Drilling has defined a broad zone of low-grade mineralization measuring 1,800 metres along strike (OPEN), 300 to 500 metres of width and up to 500 metres depth (OPEN). Gold mineralization occurs in a brittle deformation zone surrounding the alkalic Tower Mountain Intrusive Complex ('TMIC'). Low-grade gold mineralization appears to be directly proportional to the pyrite content with rare, bonanza grades (greater than 30.0 g/t Au) associated with late, centimetre-scale, quartz-carbonate-tourmaline stockwork. The contact halo surrounding the TMIC consists of intensely fractured fragmental volcanic rocks intermixed with later intrusive rocks. Coincident magnetic ('MAG') low and I...