Thundermin and Cornerstone Intersect 3.8% Cu Over 9.1 Metres on the Little Deer Copper Deposit, Springdale Area,
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TORONTO, ONTARIO, Jun 16 (MARKET WIRE) --
Thundermin Resources Inc. ("Thundermin")(TSX: THR) and 50% joint venture
partner Cornerstone Resources Inc. ("Cornerstone")(TSX VENTURE: CGP)
announce that they have intersected 3.8% Cu over a core length of 9.1 m
in hole LD-09-22 on the Little Deer Copper Deposit (the "Deposit"). In
addition, wedge hole LD-08-16A intersected variable amounts of copper
mineralization over a core length of 99 m within strongly altered mafic
volcanics in the western portion of the Deposit. The best intervals
within this zone include 1.9% Cu over a core length of 15.8 m, including
2.9% Cu over 5.7 m, 1.5% Cu over 23.3 m, including 3.1% Cu over 6.2 m and
1.2% Cu over 9.4 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 895 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-09-22 13,001 4,668 -70.6 334.9 697.1 706.2 9.1 3.8
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incl. 698.7 700.3 1.6 13.9
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LD-08-16A 12,979 4,650 -72.9 319.5 881.9 891.3 9.4 1.2
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and 922.9 946.2 23.3 1.5
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incl. 940.0 946.2 6.2 3.1
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and 961.3 977.1 15.8 1.9
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incl. 971.4 977.1 5.7 2.9
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LD-09-23 13,141 4,640 -70.7 315.2 Hole currently drilling
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(i) Reported intervals are core lengths - true widths are yet to be
determined.
The current diamond drilling program is part of a $900,000 exploration
program consisting of approximately 5,800 m of drilling that was
announced on February 25, 2009 for the Little Deer copper property for
the first half of 2009. Approximately 4,160 m of drilling in six holes
has been completed to date. The current drill program is on-going and is
expected to be finished near the end of June. As announced on May 12,
2009, Micon International Limited ("Micon") is preparing an initial
National Instrument 43-101 compliant mineral resource estimate for the
Deposit based on all drill hole data up to and including wedge hole
LD-08-16A. 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-09-22, which occurs in
the western portion of the Deposit at a vertical depth of approximately
625 m, consists of disseminated, stringer, semi-massive and massive
sulphides containing variable amounts of chalcopyrite, pyrrhotite and
pyrite within strongly altered mafic volcanic rocks. This intersection
occurs approximately 110 m east and 90 m above the intersection in hole
LD-08-10A that graded 2.2% Cu over 16.8 m, including 3.9% Cu over 5.9 m
(Table 1 and Figure 1).
Hole LD-08-16A intersected variable amounts of chalcopyrite, pyrrhotite
and pyrite within a 99 m wide zone of strongly altered mafic volcanic
rocks (Table 1 and Figure 1). The intensity and magnitude of chlorite
alteration and the amount of copper mineralization appears to increase at
depth in this area of the Deposit. The bottom portion of the intersection
in hole LD-08-16A occurs at a vertical depth of approximately 895 m and
is the deepest intersection to date within the Deposit.
Hole LD-09-23, which is currently drilling, is collared to intersect the
copper-bearing zone approximately 175 m east of the intercept in
LD-08-10A at a vertical depth of approximately 725 m (Table 1 and Figure
1).
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 and May 12, 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 a map of the LDJV - Little Deer Project, please visit the
following link: http://media3.marketwire.com/docs/thr616_4.pdf
Contacts:
Thundermin Resources Inc.
John B. Heslop
President & CEO
(647) 344-1167
Thundermin Resources Inc.
James W. Gill
Chairman
(416) 450-1851
info@thundermin.com
www.thundermin.com
Copyright 2009, Market Wire, All rights reserved.
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