Thunder Mountain Gold to Acquire 110% Stake in South Mountain Project, Idaho
Published: March 13, 2019 |
Thunder Mountain Gold has entered into an option agreement with BeMetals and its wholly-owned subsidiaries, to acquire up to a 100 percent interest in the South Mountain Project in southwest Idaho.
South Mountain is a high-grade zinc-silver-gold focused polymetallic development project largely located on private property. The mine operated from the mid-1800s until the 1960s with most of production during World War II for strategic minerals for the war effort.
“Given the current market interest in high grade zinc, and base metal deposits, we are very pleased to be partnering with a strong group of mining professionals that have the technical and financial capabilities to immediately begin advancing the South Mountain Project. We look forward to working with the BeMetals team to unlock the true value of this high-grade asset,” said Eric T. Jones, president and CEO of Thunder Mountain.
THE SOUTH MOUNTAIN PROJECT
South Mountain is a polymetallic zinc-silver-gold development project, located approximately 70 miles southwest of Boise, Idaho. The project was intermittently mined from the late 1800s to the late 1960’s and its existing underground workings remain intact and well maintained. Historic production at the project has largely come from skarn-hosted, high-grade massive sulfide ore bodies that remain open at depth and along strike. According to historical smelter records approximately 53,642 tons of ore have been mined to date. These records also indicate average grades; 14.5 percent Zn, 10.6 o.p.t Ag, 0.058 o.p.t Au, 2.4 percent Pb, and 1.4 percent Cu were realized.
Since 2008, Thunder Mountain has completed 27 drill holes for a total of 5,500 metres on the Property. Thus far, drill results have been encouraging and significant potential exists to increase the known mineral resource with additional drilling, as well as to expand the existing measured and indicated mineral resource classifications with in-fill drilling. Last year a technical report for the South Mountain Project was completed by Hard Rock Consulting, LLC, entitled, “National Instrument 43-101 Technical Report: Updated Mineral Resource Estimate for the South Mountain Project Owyhee County, Idaho USA”.
Since the project is largely on and surrounded by private surface land, the permitting and environmental aspects of the project are expected to be straightforward. Based on the existing project permits, coupled with the associated work completed to date, including a long and successful history of mineral exploration in the region, BeMetals does not anticipate barriers to proposed exploration or development at the project.
About Thunder Mountain Gold
Thunder Mountain Gold Inc. is a junior exploration company founded in 1935 and owns interests in base and precious metals projects in the western U.S. Thunder Mountain’s principal asset is The South Mountain Mine, an historic former producer of zinc, silver, gold, lead, and copper, located on private land in southern Idaho, just north of the Nevada border. The company also owns 100 percent of the Trout Creek Project – a grass roots gold target in the Eureka-Battle Mountain trend of central Nevada.
To stop by Thunder Mountain Gold’s website, CLICK HERE
BeMetals’ founding cirectors include Clive Johnson, Roger Richer, Tom Garagan, and John Wilton. BeMetals is a new base metal mining company focused on becoming a significant base metal producer through the acquisition of quality exploration, development and production stage base metals projects. The company’s growth strategy is led by a strong board, key members of which have an extensive proven record of accomplishment in delivering considerable value in the mining sector through the discovery, construction and operation of mines around the world. The board, its advisors, and senior management also provide outstanding deal flow of projects to BeMetals based upon their extensive network of contacts in the international minerals business.
To stop by BeMetals’ website, CLICK HERE
Be in-the-know when you’re on-the-go!
FREE eNews delivery service to your email twice-weekly. With a focus on lead-driven news, our news service will help you develop new business contacts on an on-going basis.
CLICK HERE to register your email address.
Copyright © 2019 Mining Connection LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.