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Mining industry

Thundermin Resources Inc. Announces Additional High Grade Copper Mineralization at Little Deer Copper Deposit

Strategic Insights

— 1 min read

Thundermin Resources Inc. and its joint venture partner Cornerstone Resources Inc. have announced the intersection of additional high-grade copper mineralization at the Little Deer Copper Deposit in north-central Newfoundland. The copper mineralization was discovered in five recently completed holes, with assay results indicating a significant increase in copper grades. The drilling program has been ongoing since December 2010, with approximately 8,774 meters of drilling completed in 17 holes.

Key Takeaways:

  • The Little Deer Copper Deposit has been outlined by drilling over a strike length of 1,050 meters and to a vertical depth of 1,000 meters.
  • The current drill program aims to increase the estimated mineral resources outlined to date in the Deposit to the five to six million tonne range.
  • The primary purpose of the current drill program is to confirm the continuity of the copper mineralization in certain areas of the Deposit.
  • Hole LD-11-49 intersected 5.7% Cu over a core length of 2.7 meters before being cut off by a mafic dyke.
  • Holes LD-11-50 and LD-11-51 were in-fill holes that were drilled to confirm the continuity of the copper mineralization in the upper central portion of the Deposit.
  • Excellent metallurgical results from scoping level test work on core samples from the Deposit indicate that a saleable, high-grade copper concentrate can be produced.
  • The Deposit has been estimated to contain Indicated Resources of 1,150,500 tons at an average grade of 2.8% Cu within the Little Deer Zone.

Statistics:

  • Approximately 8,774 meters of drilling has been completed in 17 holes as part of the ongoing drilling program.
  • The drilling program has been conducted since December 2010.
  • The Deposit has been outlined to a strike length of 1,050 meters.
  • The estimated increase in mineral resources is conceptual in nature and is uncertain whether further exploration drilling will result in an expansion of this mineral resource.
  • The current drilling program aims to confirm the continuity of the copper mineralization in certain areas of the Deposit.

Sources:

  • Thundermin Resources Inc. (MARKETWIRE via COMTEX) - Apr 26, 2011
  • Cornerstone Resources Inc. (TSX VENTURE: CGP) - Apr 26, 2011
  • P&E Mining Consultants Inc. - Apr 26, 2011
  • Scott Wilson RPA - October 13, 2010
  • SGS Lakefield Research Limited - October 19, 2010

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