Thunder Bay, Ontario--(Newsfile Corp. - September 7, 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 been selected to receive up to C$200,000 from the Ontario Government's Junior Exploration Program ("OJEP") which will be used to fund geophysical and geochemical surveys of the 4,638 hectare PEN Gold property, centered approximately 9 kms east of Geraldton, Ontario.
"We are very pleased to have been selected as a recipient of OJEP funding in 2023. This funding is vital to supporting grass roots exploration of mineral projects throughout Ontario. The OJEP funding shall offset the exploration costs at our PEN property, located 9.0 kilometres east of Geraldton, Ontario and 4.0 kilometres north of the Greenstone Gold Project, currently being developed by others. Over 4.0 million ounces of historical gold production were produced from several former producing mines near Geraldton and the development of the Greenstone Project clearly demonstrates the discovery potential of this region of Ontario. Our initial reconnaissance work last year returned multiple anomalous gold results in rock, soils and lake sediment samples, prompting us to stake additional claims in this exciting district. We currently have field teams deployed at PEN completing a systematic soil geochemistry survey of the property. Quotes have been solicited and received from qualified geophysical contractors for a high resolution airborne magnetic - electro-magnetic survey of property in the fall. Results of the geochemical and geophysical surveys are expected to yield multiple targets for field follow up during the 2024 summer field season."
"Our government's investments in our Ontario Junior Exploration Program are paying off and this is another fantastic example of what happens when you provide funding for junior exploration companies operating in Ontario," said Minister of Mines George Pirie. "OJEP will help terrific companies like Thunder Gold Corp. continue to find the mines of the future that will not only sustain our economy but grow it as well."
Qualified Person
Technical information in this news release has been reviewed and approved by Wes Hanson, P.Geo., President and CEO of Thunder Gold Corp., who is a Qualified Person under the definitions established by National Instrument 43-101.
About the Tower Mountain Gold Property
The Tower Mountain Gold Property is located 5-km off the Trans-Canada highway, 50-km west of Thunder Bay, Ontario. The Property lies within the late Archean Shebandowan greenstone belt, an emerging gold district in northwestern Ontario. The Property consists of unpatented and patented lands totalling 2,533 hectares. Exploration to-date suggests the Property offers a large gold endowment. Gold mineralization is widespread, and diamond drilling has identified low-grade gold mineralization extending outward for at least 500-metres from a central alkalic intrusion known as the Tower Mountain Intrusive Complex. Drilling has established persistent gold grades from 0.1 to 1.0 g/t Au along an 1,800-metre-long x 500-metre wide x 500-metre deep block of volcanic-volcanoclastic rocks immediately west and adjacent to the central alkalic intrusion. The remaining 6,000 metres of strike length surrounding the intrusion are untested. Tower Mountain shows many of the classic indicators of being an Intrusion Related Gold Deposit, which is a highly desirable exploration target.
About Thunder Gold Corp.
Thunder Gold Corporation, formerly White Metal Resources. is a junior exploration company focused on gold discovery in Canada. For more information about the Company please visit: www.thundergoldcorp.com.
On behalf of the Board of Directors,
Wes Hanson, President and CEO
For further information contact:
Wes Hanson, CEO
(647) 202-7686
whanson@thundergoldcorp.com
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to the gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/179711
