BOISE, Idaho--(BUSINESS WIRE)--Thunder Mountain Gold, Inc. (TSX-V: THM; OTCQB: THMG) (the Company), is pleased to announce that it has received approval from the U.S. Mine Safety and Health Administration (MSHA) for its underground exploration and development work at its South Mountain Project Joint Venture called Owyhee Gold Trust LLC (OGT).
OGT will immediately proceed with its plans that will enlarge the underground mine workings in both the Laxey (upper) and Sonneman (lower) levels of the mine. In this initial phase, OGT will obtain bulk metallurgical samples of blended ore from several of the nine mineralized zones on the Laxey Level, and establish underground drill stations for further core drill testing of the down-dip extensions of the larger ore zones. The goal of the underground drilling program is to determine the depth and grade of these ore zones; verify the minable resource that can potentially be mined from the two levels; and expand the current 43-101 compliant resource. The bulk sampling program will provide samples for mill process and design that will suit the polymetallic ore.
The underground development work is being done by Widman Contractors, Baker City, Oregon. Widman has extensive underground mining experience throughout the western U.S., including work for Newmont Mining, Barrick, Independence and others in Nevada. They will be driving a minimum 10-foot by 10-foot dimension tunnel along the Laxey and Sonneman Levels. They currently have a crew of eight miners at South Mountain.
Additionally, the Company`s JV has hired Michael S. Smith, P.E. as Chief Engineer and Project Manager. Mike is a professional engineer with certifications in civil engineering, mine engineering, and land surveying, and has 35 years of experience in mining projects throughout Nevada including the Jerritt Canyon Mine; The Cortez Gold Mines; The Phoenix Property; The Getchell Mine; and The Coeur Rochester Mine.
Eric Jones, President and CEO of Thunder Mountain Gold said of the hire, “Thunder Mountain is excited to move forward with the underground work and fortunate to have an engineer of the caliber as Mike to help with management of the JV project. His experience and knowledge adds a lot of value to our South Mountain Project and will help in moving the project toward production.”
Qualified Person – Edward D. Fields is the Qualified Person as defined by National Instrument 43-101 responsible for the technical data reported in this news release.
About Thunder Mountain Gold, Inc.
Thunder Mountain Gold, a junior gold exploration company founded in 1935, holds a 100% interest in several U.S. gold projects. The Company’s principal assets are The South Mountain Project – a historic former producer of gold, silver, zinc, lead, and copper, located in southern Idaho, just north of the Nevada border, and their Trout Creek Project – a grass roots gold target in the Eureka-Battle Mountain trend of central Nevada, currently under Joint Exploration Agreement with Newmont Mining Corp. For more information on Thunder Mountain, please visit the Company’s website at http://www.Thundermountaingold.com.
U.S. Securities Act of 1933
This press release does not constitute an offer of any securities for sale or a solicitation of an offer to purchase any securities.
Forward-Looking Statements
This press release contains forward-looking statements that are based on the beliefs of management and reflect the Company's current expectations. The forward-looking statements are based on certain assumptions, which could change materially in the future. By their nature, forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include the risk that the Company may not fully advance the South Mountain Project contemplated in this press release. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking information. Forward-looking information is provided as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required in accordance with applicable laws.
Cautionary Note to Investors
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The United States Securities and Exchange Commission (“SEC”) permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce.
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