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Thunder Mountain Gold, Inc. (THM.V)

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  • Thunder Mountain Gold Reports on an Updated Mineral Resource Estimate that Substantially Increased the Mineral Resource at its South Mountain Project
    GlobeNewswire

    Thunder Mountain Gold Reports on an Updated Mineral Resource Estimate that Substantially Increased the Mineral Resource at its South Mountain Project

    Figure 1 3D Perspective view inclined 200 looking north-north-east, indicating the areas of the expanded mineral resource compared to the 2019 MRE. Figure 2 3D Perspective view inclined 200 looking north-north-east, with hole locations for SM20-032, SM20-034, SM20-037, SM20-039 - SM20-044, SM20-047 Figure 3 Location of South Mountain Project BOISE, Idaho and VANCOUVER, British Columbia, May 06, 2021 (GLOBE NEWSWIRE) -- Thunder Mountain Gold, Inc. (OTCQB: THMG; TSX-V: THM), (the “Company” or “THMG”) is pleased to report an updated Mineral Resource Estimate (“MRE”) incorporating results from BeMetals Corp. (“BMET” or “BeMetals”) Phase 1 and 2 underground diamond drilling programs at the South Mountain Project (“South Mountain” or “South Mountain Project” or the “Property”) in southwestern Idaho, U.S.A. The updated MRE includes a substantially increased resource for the Project while maintaining the high-grade nature of the mineralization. The updated Independent MRE, which has an effective date of April 20, 2021, was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI-43-101”) by Hard Rock Consulting, LLC, based in the U.S.A. More details are included in Tables 1 & 2 below and a technical report for this MRE will be filed with SEDAR, and on the Company’s website, within 45 days from the date of this news release. HIGHLIGHTS OF UPDATED MINERAL RESOURCE Measured & Indicated (“M&I”): 206,900 tons grading 9.63% Zinc (“Zn”), 4.41 ounces per ton (“opt”) Silver (“Ag”), 0.064 opt Gold (“Au”), 1.01% Lead (“Pb”) and 0.63% Copper (“Cu”). This represents a 21.8% increase to the M&I tonnage from the historical 2019 MRE with a 20.36% Zn equivalent grade (“ZnEq”). Inferred: 833,700 tons grading 7.63% Zn, 5.72 opt Ag, 0.041 opt Au, 0.97% Pb and 0.81% Cu. This represents a 129.5% increase in the Inferred tonnage from the historical 2019 MRE with an 18.10% ZnEq. Note: See Table 1 and 2 footnotes section 4 for details of the Zn equivalent grade calculation Eric T. Jones, President and CEO of Thunder Mountain Gold Inc. commented, “We are extremely pleased with the work completed by BeMetals and the Idaho project team over the last 2 years. We look forward to the completion of a robust PEA in the coming months as the independent engineering firm works through the economic analysis.” MINERAL RESOURCE ESTIMATE In two phases of drilling completed during 2019 and 2020 a combined total of approximately 16,000 feet of underground core drilling was completed at South Mountain. During these drilling campaigns, our site team also widened and advanced the existing Sonneman level eastwards by 170 feet to establish a new drill station closer to the Texas Zone. All the results of this drilling have now been in incorporated into the updated MRE for the South Mountain deposit. Tables 1 & 2 below provide the Mineral Resource Statement for the Project in U.S. and Metric units respectively with details of the modelling methodology and cut-off grades applied to the mineral resource. Figure 1 illustrates the principal areas where the South Mountain deposit has been expanded from the historical MRE that was completed in 2019. The historical Technical Report for the Mineral Resource Estimate for the South Mountain Project Owyhee County, Idaho USA Report Date: Dated: April 1, 2019 is filed on SEDAR. Table 1. South Mountain Mineral Resource Statement (U.S. Units) Grades and Contained Metal Ore TypeClassificationMassZincZincSilverSilverGoldGoldLeadLeadCopperCopperZnEq thousand sh. ton%thousandlbt. oz/sh.tonthousandt. ozt. oz/sh.tonthousandt. oz%thousandlb%thousandlb%Massive SulfideMeasured53.811.4512,3003.671970.0693.70.799000.4650020.21Indicated118.911.3627,0004.775680.0779.11.363,2000.531,30022.14Measured + Indicated172.811.3939,3004.437650.07412.91.184,1000.511,80021.54Inferred777.28.09125,7005.904,5860.04333.71.0416,1000.7411,50018.34SkarnMeasured10.61.253005.46580.0230.20.301001.2630018.23Indicated23.50.492003.78890.0050.10.0701.2060012.63Measured + Indicated34.10.725004.301470.0110.40.141001.2180014.38Inferred56.51.341,5003.191810.0060.30.041001.661,90014.92TotalMeasured64.59.7712,6003.962550.0624.00.719000.5980019.88Indicated142.49.5727,2004.616560.0659.21.153,3000.641,80020.57Measured + Indicated206.99.6339,8004.419120.06413.21.014,2000.632,60020.36Inferred833.77.63127,3005.724,7660.04134.00.9716,2000.8113,40018.10 1.) The effective date of the mineral resource estimate is April 20th, 2021. The QP for the estimate is Mr. Richard A. Schwering, P.G., SME-RM, of Hard Rock Consulting, LLC. and is independent of BeMetals Corp., Thunder Mountain Gold Inc., and South Mountain Mines Inc. 2.) Mineral resources are not mineral reserves and do not have demonstrated economic viability such as diluting materials and allowances for losses that may occur when material is mined or extracted; or modifying factors including but not restricted to mining, processing, metallurgical, infrastructure, economic, marketing, legal, environmental, social and governmental factors. Inferred mineral resources may not be converted to mineral reserves. It is reasonably expected, though not guaranteed, that the majority of Inferred mineral resources could be upgraded to Indicated mineral resources with continued exploration. 3.) The mineral resource is reported at an underground mining cutoff of $102.5 U.S. Net Smelter Return (“NSR”) within coherent wireframe models. The NSR calculation and cut-off is based on the following assumptions: an Au price of $1,750/oz, Ag price of $23.00/oz, Pb price of $1.02/lb., Zn price of $1.20/lb. and Cu price of $3.40/lb.; Massive Sulfide ore type metallurgical recoveries and payables of 52.25% for Au, 71.25% for Ag, 71.40% for Zn, 66.50% for Pb, and 49.00% for Cu and a total smelter cost of $33.29; Skarn ore type metallurgical recoveries and payables of 71.25% for Au, 80.75% for Ag, 51.00% for Zn, 47.50% for Pb, and 87.70% for Cu and a smelter cost of $7.24; assumed mining cost of $70/ton, process costs of $25/ton, and general and administrative costs of $7.5/ton. Based on the stated prices and recoveries the NSR formula is calculated as follows; NSR = (Ag grade * Ag price * Ag Recovery and Payable) + (Au grade * Au price * Au Recovery and Payable) + (Pb grade * 20 * Pb Price * Pb Recovery and Payable) + (Cu grade * 20 * Cu Price * Cu Recovery and Payable) + (Zn grade * 20 * Zn Price * Zn Recovery and Payable) for each ore type. 4.) The zinc equivalent grades were calculated as Zn Grade + (((Pb Price * Pb Recovery and Payable) / (Zn Price*Zn Recovery and Payable)) * Pb Grade) + (((Cu Price * Cu Recovery and Payable) / (Zn Price * Zn Recovery and Payable)) * Cu Grade) + (((Ag Price * Ag Recovery and Payable) / (Zn Price * 20 * Zn Recovery and Payable)) * Ag Grade) + (((Au Price * Au Recovery and Payable) / (Zn Price * 20 * Zn Recovery and Payable)) * Au Grade) 5.) Rounding may result in apparent differences when summing tons, grade and contained metal content. Tonnage and grade measurements are in U.S. units. Table 2. South Mountain Mineral Resource Statement (Metric Units) Grades and Contained Metal Ore TypeClassificationMassZincZincSilverSilverGoldGoldLeadLeadCopperCopperZnEq kt%tppmkgppmg%t%T%Massive SulfideMeasured48.8511.455,6001266,1002.38116,2000.79400.000.4620020.21Indicated107.9011.3612,300.016417,7002.63283,5001.361,5000.5360022.14Measured + Indicated156.7511.3917,800.015223,8002.55399,7001.181,9000.5180021.54Inferred705.038.0957,000.0202142,6001.491,049,0001.047,3000.745,20018.34SkarnMeasured9.621.25100.01871,8000.787,5000.3001.2610018.23Indicated21.280.49100.01302,8000.173,7000.0701.2030012.63Measured + Indicated30.900.72200.01484,6000.3611,2000.1401.2140014.38Inferred51.261.34700.01105,6000.199,9000.0401.6690014.92TotalMeasured58.479.775,700.01367,9002.12123,7000.714000.5930019.88Indicated129.189.5712,400.015820,4002.22287,3001.151,5000.6480020.57Measured + Indicated187.659.6318,100.015128,4002.19411,0001.011,9000.631,20020.36Inferred756.307.6357,700.0196148,2001.401,058,9000.977,3000.816,10018.10 1.) The effective date of the mineral resource estimate is April 20th, 2021. The QP for the estimate is Mr. Richard A. Schwering, P.G., SME-RM, of Hard Rock Consulting, LLC. and is independent of BeMetals, Corp., Thunder Mountain Gold Inc., and South Mountain Mines Inc. 2.) Mineral resources are not mineral reserves and do not have demonstrated economic viability such as diluting materials and allowances for losses that may occur when material is mined or extracted; or modifying factors including but not restricted to mining, processing, metallurgical, infrastructure, economic, marketing, legal, environmental, social and governmental factors. Inferred mineral resources may not be converted to mineral reserves. It is reasonably expected, though not guaranteed, that the majority of Inferred mineral resources could be upgraded to Indicated mineral resources with continued exploration. 3.) The mineral resource is reported at an underground mining cutoff of $102.5 U.S. Net Smelter Return (“NSR”) within coherent wireframe models. The NSR calculation and cut-off is based on the following assumptions: an Au price of $1,750/oz, Ag price of $23.00/oz, Pb price of $1.02/lb., Zn price of $1.20/lb. and Cu price of $3.40/lb.; Massive sulfide ore type metallurgical recoveries and payables of 52.25% for Au, 71.25% for Ag, 71.40% for Zn, 66.50% for Pb, and 49.00% for Cu and a total smelter cost of $33.29; Skarn ore type metallurgical recoveries and payables of 71.25% for Au, 80.75% for Ag, 51.00% for Zn, 47.50% for Pb, and 87.70% for Cu and a smelter cost of $7.24; assumed mining cost of $70/ton, process costs of $25/ton, and general and administrative costs of $7.5/ton. Based on the stated prices and recoveries the NSR formula is calculated as follows; NSR = (Ag grade * Ag price * Ag Recovery and Payable) + (Au grade * Au price * Au Recovery and Payable) + (Pb grade * 20 * Pb Price * Pb Recovery and Payable) + (Cu grade * 20 * Cu Price * Cu Recovery and Payable) + (Zn grade * 20 * Zn Price * Zn Recovery and Payable) for each ore type. 4.) The zinc equivalent grades were calculated as Zn Grade + (((Pb Price * Pb Recovery and Payable) / (Zn Price*Zn Recovery and Payable)) * Pb Grade) + (((Cu Price * Cu Recovery and Payable) / (Zn Price * Zn Recovery and Payable)) * Cu Grade) + (((Ag Price * Ag Recovery and Payable) / (Zn Price * 20 * Zn Recovery and Payable)) * Ag Grade) + (((Au Price * Au Recovery and Payable) / (Zn Price * 20 * Zn Recovery and Payable)) * Au Grade) 5.) Rounding may result in apparent differences when summing tons, grade and contained metal content. Tonnage and grade measurements are in U.S. units and converted to metric. Figure 1: 3D Perspective view inclined 200 looking north-north-east, indicating the areas of the expanded mineral resource compared to the 2019 MRE. https://www.globenewswire.com/NewsRoom/AttachmentNg/6de93e3b-9750-4cbe-8a68-c16fc0396dc8 Qualified Person Statement for the Mineral Resource Estimate Mr. Richard A. Schwering, P.G., SME-RM, a Resource Geologist with Hard Rock Consulting, LLC, is responsible for the South Mountain Project Mineral Resource Estimate with an effective date of April 20, 2021. Mr. Schwering is a Qualified Person as defined by NI43-101 and is independent of BeMetals Corp., Thunder Mountain Gold Inc., and South Mountain Mines, Inc. Mr. Schwering estimated the mineral resources based on drill hole and channel sample data constrained by geologic boundaries using an Ordinary Krige algorithm. The Geologic Model and Mineral Resource Estimate were completed using Leapfrog Geo® Software version 6.0.5. Hard Rock Consulting also completed the previous resource estimate. ADDITIONAL RECENT DRILLING RESULTS INCLUDED WITHIN THE UPDATED MRE The Company also reports further BMET drilling results from both the Texas East and Texas West Zones. This new data supports previously reported results (See THMG news release dated, February 22, 2021), illustrating the high-grade zinc-silver-gold nature of the Texas East mineralization, and generally copper-silver dominant Texas West Zone. Figure 2 shows the location of drill holes; SM20-032, SM20-034, SM20-037, SM20-039, SM20-044, SM20-047 in the Texas East and West Zones. Table 3 below indicates the details of these drilling results. All drilling results from the Phase 1 & 2 programs have now been incorporated into the MRE. Figure 2: 3D Perspective view inclined 200 looking north-north-east, with hole locations for SM20-032, SM20-034, SM20-037, SM20-039 - SM20-044, SM20-047 https://www.globenewswire.com/NewsRoom/AttachmentNg/54a85ed0-aa6e-4bc3-ac64-1573eb361d39 Table 3 below indicates the drilling results received from both the Texas East and Texas West Zones. Table 3. Analytical and Assay Results from Texas East Zone (Metric) Drill Hole ID, Zone & IntervalFrom (m)To (m)Core Interval (m)Zn %Ag g/tAu g/tPb %Cu %TEXAS ZONE Texas East SM20-03965.7672.096.336.96157.803.422.080.23Including65.7669.753.9910.91183.815.293.140.21 Note: Reported widths are drilled core lengths as true widths are unknown at this time. It is estimated based upon current data that true widths might range between 60-80% of the drilled intersection. Intervals cut offs are based upon visual contacts of massive sulfide units with no more than 1.68 meters of internal skarn. Table 5 below documents; Drill Hole Azimuth, Dip, end of hole length, and Collar Co-ordinates (Note: See details below in QA/QC section). Table 4. Analytical and Assay Results from Texas West Zone (Metric) Drill Hole ID, Zone & IntervalFrom (m)To (m)Core Interval (m)Cu %Ag g/tAu g/tPb %Zn %TEXAS ZONE Texas West SM20-03219.2324.465.230.8785.090.040.020.03Including22.4624.462.001.16107.880.040.030.03 SM20-034 Interval 1:31.8545.4813.631.07108.650.070.040.58Including34.9636.941.981.37119.000.090.043.61Including39.5642.062.502.01163.000.140.030.04Interval 2:57.9660.662.70*0.0693.951.140.662.19 SM20-037 Interval 1:33.7641.307.541.04110.300.250.020.08Interval 2:42.5043.370.87†0.10169.006.101.191.75Interval 3:49.5351.071.540.91348.000.290.290.07 SM20-04417.3724.787.411.43108.800.080.020.09 SM20-04716.7620.733.971.1972.720.050.000.03 Note: Reported widths are drilled core lengths as true widths are unknown at this time. It is estimated based upon current data that true widths might range between 60-80% of the drilled intersection. A nominal cut-off grade of 0.5% Cu has been applied to determine the boundaries of the intersections for this skarn-hosted mineralization with no more than 4.46 meters of internal dilution. *A nominal cut-off grade of 1% Zn has been applied to this intersection. † Denotes single sample. Table 5 below documents; Drill Hole Azimuth, Dip, end of hole length, and Collar Co-ordinates (Note: See details below in QA/QC section). Table 5: Drill Hole Azimuth, Dip, End of hole length and Collar Co-ordinates Hole IDAzimuth DegreeDip DegreeEnd of hole Length (m)East (ft.)North (ft.)Elevation (ft.)SM20-032104.79-64.3343.892311763.6393645.36866.77SM20-03479.3315.0666.142311763.6393645.36866.77SM20-03799.99-14.0968.642311763.6393645.36866.77SM20-039122.39-7.95106.682311763.6393645.36866.77SM20-04474.01-44.9846.942311763.6393645.36866.77SM20-04760.14-79.8752.882311763.6393645.36866.77 QUALITY ASSURANCE AND QUALITY CONTROL PROCEDURES The project employs a rigorous QC/QA program that includes blanks, duplicates and appropriate certified standard reference material. All samples are introduced into the sample stream prior to sample handling/crushing to monitor analytical accuracy and precision. The insertion rate for the combined QA/QC samples is 10 percent or more depending upon batch sizes. ALS Global completed the analytical work with the core samples processed at their preparation facility in Reno, Nevada, U.S.A. All analytical and assay procedures are conducted in the ALS facility in North Vancouver, BC. The samples are processed by the following methods as appropriate to determine the grades; Au-AA23-Au 30g fire assay with AA finish, ME-ICP61-33 element four acid digest with ICP-AES finish, ME-OG62-ore grade elements, four acid with ICP-AES finish, Pb-OG62-ore grade Pb, four acid with ICP-AES finish, Zn-OG62-ore grade Zn, four acid digestion with ICP-AES finish, Ag-GRA21-Ag 30g fire assay with gravimetric finish. The technical information in this news release has been reviewed and approved by John Wilton, CGeol FGS, CEO and President of BeMetals, and a “Qualified Person” as defined under National Instrument 43-101, and approved by Larry D. Kornze, Retired, P. Eng., Qualified Person, and Director of Thunder Mountain Gold Inc., and a “Qualified Person” as defined by National Instrument 43-101 standards. The South Mountain Project The South Mountain Mine is a polymetallic development project focused on high-grade zinc and silver along with associated copper, gold and lead., and is located approximately 70 miles southwest of Boise, Idaho (See Figure 3). The Project was intermittently mined from the late 1800s to the late 1960s and its existing underground workings remain intact and well maintained. Historic production at the Project has largely come from high-grade massive sulfide bodies that remain open at depth and along strike. According to historical smelter records, approximately 53,642 tons of mineralized material has been mined to date. These records also indicate average grades; 14.5% Zn, 363.42 g/t Ag, 1.98 g/t Au, 2.4% Pb, and 1.4% Cu were realised (See NI 43-101 Technical Report: Updated Mineral Resource Estimate for the South Mountain Project, dated May 6, 2019, Section 6.4 – Table 6.4 for more details. Available on the BeMetals website and at www.sedar.com). Thunder Mountain Gold Inc. purchased and advanced the project from 2007 through 2019, with expenditures into the project of approximately US$12million. In 2019, BeMetals Corp. purchased an option on the Project, and has formed a Boise, Idaho-based project team that is focused on advancing South Mountain. This team includes key management of Thunder Mountain Gold Inc., Optionee of the Property. The project team has completed re-establishment of the Project site and have conducted two phases of drilling. The team continues to build and maintain strong relations with local communities relevant to the South Mountain Project. The Project is largely on and surrounded by private surface land, and as such, the permitting and environmental aspects of the Project are expected to be straightforward. Permits are in place for underground exploration activities and BeMetals does not anticipate significant barriers to any future development at the Project. Figure 3. Location of South Mountain Project https://www.globenewswire.com/NewsRoom/AttachmentNg/e50a4e83-0324-4c52-8550-fe4eb1369968 Other Thunder Mountain Gold Corporate News: On March 29, 2021 the Company’s Board of Directors approved the sale of 2,000,000 of the 10,000,000 common shares held in BeMetals, which were originally received in connection with the 2019 BeMetals Option Agreement. BeMetals then identified a prospective buyer for these shares. The Board determined that it was important for the company to have a sufficient funds to sustain the company into the future amid these uncertain times. On May 04, 2021, the Company sold 2,000,000 of the 10,000,000 common shares held in BeMetals Corp., for a total of CAD$800,000 ( US$556,820), less brokerage fees. The shares of common stock were sold in an arranged transaction through the Toronto Stock Exchange – Venture Exchange at a price of CAD$0.40 (US$0.278). This sale meets all the requirements under the terms of the BeMetals Option Agreement. The sale was made on the Toronto Stock Exchange-Venture Exchange pursuant to the exemption provided in rule 904. Regarding Thunder Mountain Gold, Inc. Thunder Mountain Gold Inc., a junior exploration company founded in 1935, owns interests in base and precious metals projects in the western U.S. The Company’s principal asset is The South Mountain Mine, an historic former producer of zinc, silver, gold, lead, and copper, located on private land in Owyhee County Idaho. In February 2019, The Company entered into an option agreement with BeMetals Corp. (www.Bemetalscorp.com) based in Vancouver, British Columbia, Canada. Thunder Mountain Gold also owns 100% of the Trout Creek Project – a gold exploration project located along the western flank of the Shoshone Mountain Range in the Reese River Valley, adjacent to and surrounded by Nevada Gold Mines, a joint operating agreement between Barrick and Newmont Gold, Inc. private mineral lands. For more information on Thunder Mountain Gold, please visit the Company’s website at www.Thundermountaingold.com. About BeMetals Corp. BeMetals is a precious and base metals exploration and development company focused on becoming a leading metal producer through the acquisition of quality exploration, development and potentially production stage projects. The Company has recently established itself in the gold sector with the acquisition of certain wholly owned exploration projects in Japan. BeMetals is also progressing both its advanced high-grade, zinc-silver-gold-copper polymetallic underground exploration at the South Mountain Project in Idaho through a preliminary economic assessment, and its tier-one targeted, Pangeni Copper Exploration Project in Zambia. Guiding and leading BeMetals’ growth strategy is a strong board and management team, founders and significant shareholders of the Company, who have an extensive proven record of delivering considerable value in the mining sector through the discovery, construction and operation of mines around the world. 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 in this press release include statements with respect to the completion of the transactions contemplated with BeMetals Corp., a Canadian Corporation. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof. The forward-looking statements are based on certain assumptions, which could change materially in the future, including the assumption that the transactions contemplated with BeMetals Corp. will be completed. 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 determination and ability of BeMetals to complete all required option payments and issuance of shares under the BeMetals Option Agreement, the receipt of all required regulatory approvals and the satisfaction of all required terms and conditions. Investors should refer to THMG’s Form 10-K, Form 10-Q reports, and Definitive 14C Information Statement as filed May 20, 2019, for a more detailed discussion of risks that may impact future results. 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. For further information, please contact: Thunder Mountain Gold, Inc. Eric T. Jones President and Chief Executive Officer Eric@thundermountaingold.com Office: (208) 658-1037

  • Thunder Mountain Gold Reports Significant Drill Intercepts in the Texas Zone at its High-Grade Polymetallic South Mountain Project
    GlobeNewswire

    Thunder Mountain Gold Reports Significant Drill Intercepts in the Texas Zone at its High-Grade Polymetallic South Mountain Project

    Figure 1 3D Perspective view inclined 200 looking north-north-east, with hole locations for SM20-028 thru SM20-050 Figure 2 Location of South Mountain Project BOISE, Idaho and VANCOUVER, British Columbia, Feb. 22, 2021 (GLOBE NEWSWIRE) -- Thunder Mountain Gold, Inc. (OTCQB: THMG; TSX-V: THM), (the “Company” or “THMG”) is pleased to report on the latest analytical results from its Phase 2 underground diamond drilling program at the high-grade South Mountain Zinc-Silver-Gold-Copper Project (“South Mountain” or “South Mountain Project” or the “Property”) in southwestern Idaho, U.S.A. The Company`s 2020 drill results demonstrate that South Mountain’s Texas Zone contains both high-grade Copper-Silver and Zinc-Silver-Gold mineralization (See Tables 1 and 2). The Company’s core drilling program intersected mineralization at depths beyond any historical drilling of the Texas Zone and the deposit remains open to depth (See Figure 1). Further drilling results will be reported when received from the laboratories. DRILL HOLE HIGHLIGHTS TEXAS WEST ZONE: SM20-028: 35.6 feet (10.85 meters) grading 2.56% copper (“Cu”), 7.59 ounces per ton (“opt”) (260.1 grams per tonne (“g/t”)) silver (“Ag”), 0.008 opt (0.26 g/t) gold (“Au”), 0.10% lead (“Pb”) and 0.13% zinc (“Zn”)SM20-038: 25 feet (7.62 meters) grading 1.64% Cu, 8.15 opt (279.5 g/t) Ag, 0.022 opt (0.74 g/t) Au, 0.86% Pb and 0.55% Zn Including: 16.96 feet (5.17 meters) grading, 2.23% Cu, 9.86 opt (337.9 g/t) Ag, 0.030 opt (1.02 g/t) Au, 1.12% Pb and 0.77% Zn SM20-043: interval 1: 23 feet (7.01 meters) grading 2.84% Cu, 5.29 opt (181.5 g/t) Ag, 0.01 opt (0.22 g/t) Au, 0.01% Pb and 0.29% Zn Including: 15.7 feet (4.79 meters) grading, 3.81% Cu, 7.82. (244.3 g/t) Ag, 0.006 opt (0.17 g/t) Au, 0.01% Pb and 0.07% Zn TEXAS EAST ZONE: SM20-050 Interval 2: 27.4 feet (8.35 meters) grading 4.17% Zn, 5.68 opt (194.8 g/t) Ag, 0.118 opt (4.05 g/t) Au, 0.78% Pb and 0.54% Cu Note: ALS Global completed the analytical work with the core samples processed at their preparation facility in Reno, Nevada, U.S.A. All analytical and assay procedures are conducted at the ALS laboratory in North Vancouver, BC. Reported widths are drilled core lengths as true widths are unknown at this time. It is estimated based upon current data that true widths might range between 60-80% of the drilled intersection. Examples of intersection grades for the two distinct Texas zones are: 3.81% Cu with 5.29 opt (244.3 g/t) Ag over 15.7 feet (4.79 meters) in hole SM20-043 (Interval 1), 2.56% Cu with 7.59 opt (260.1 g/t) Ag over 35.6 feet (10.85 meters) in hole SM20-028, both in Texas West, and4.17% Zn, 5.68 opt (194.8 g/t) Ag and 0.118 opt (4.05 g/t) Au over 27.4 feet (8.35 meters) in hole SM20-050 from Texas East. It should be noted that these examples are supported by other anomalous intersections (See Tables 1 & 2). The Texas Mineralized zone is separate from the DMEA massive sulfide zone that was the focus of the 2019 drill program, to which some holes were added in 2020. This drilling confirmed the DMEA mineralization to a greater depth and proved continuity between previous intercepts. “We are extremely pleased with the 2019 and 2020 drill programs. We are confident that these results will add significant tonnage to the existing resource estimate,” commented Eric Jones, President and CEO of Thunder Mountain Gold. “This data, along with additional metallurgy and hydrology testing, as well as rock mechanics and mine modelling scheduled for the first half 2021, will all be incorporated in the 2021 Preliminary Economic Assessment (“PEA”) study for South Mountain, expected to be completed during Q3 of this year.” PHASE 2 TEXAS ZONE DRILLING - SOUTH MOUNTAIN PROJECT A total of 8,904 feet (2,714 meters) of underground core drilling was completed during Phase 2, with 30 holes in both the Texas and DMEA zones. During this drilling campaign, our site team widened and advanced the existing Sonneman level eastwards by 170 feet (52 meters) to establish a new drill station closer to the Texas Zone (See Figure 1). With better access to drill the Texas Zone, a total of 24 holes were completed to test this zone of mineralization. Geological logging of the core supported by sampling results indicate that two styles of high-grade mineralization have developed in this area and are now identified as the Texas West and Texas East zones. Table 1 below illustrates the drilling results received to date from the Texas West Zone. This zone is characterized by skarn-hosted, dominantly copper and silver mineralization. This is demonstrated, for example, in the drilled intercepts: 3.81% Cu with 7.82 opt (244.3 g/t) Ag over 15.7 feet (4.79 meters) in hole SM20-043 (Interval 1),2.56% Cu with 8.32 opt (260.1 g/t) Ag over 35.6 feet (10.85 meters) in SM20-028, and2.23% Cu with 10.81 opt (337.9 g/t) Ag over 16.96 feet (5.17 meters) in hole SM20-038. Important to note that from the geological logging of the core, the higher copper grades over significant drilled widths in Texas West appear to be controlled by the increased abundance of chalcopyrite, which is a common copper sulphide mineral, often extractable through conventional flotation methods. Representative sample material of this and other zones of the deposit have been identified and are being collected for metallurgical test work at the SGS Mineral Services site in Lakefield, Canada. Results from this study will be included with historical test work and incorporated into the planned PEA study later this year. Table 2 below displays the drill hole intersections from the Texas East Zone where this mineralization is represented by predominantly massive sulphide hosted zinc, silver, and gold mineralization. Examples of this style of mineralization are intercepts: 8.65% Zn, 6.98 opt (218.1 g/t) Ag and 0.078 opt (2.44 g/t) Au over 11 feet (3.37 meters) in hole SM20-043 (Interval 2), and4.17% Zn, 6.23 opt (194.8 g/t) Ag and 0.130 opt (4.05 g/t) Au over 27.39 feet (8.35 meters) in hole SM20-050. The gold grades of 0.130 opt (4.05 g/t) over 27.39 feet (8.35 meters); 0.066 opt (2.07 g/t) over 15.45 feet (4.71 meters) and 0.122 opt. (3.82 g/t) over 4.39 feet (1.34 meters) in holes SM20-050, SM20-043, and SM20-029, respectively, are of specific interest from a value potential for the Texas East Zone. These Texas East intersections represent the successful targeting and interpreted extension of mineralization below historical high-grade rib sampling in the Sonneman level from the 1980s (See Figure 1). (See Thunder Mountain Gold news release, dated; January 27, 2020). The 2020 drill program has delivered on intersecting mineralization extending the Texas Zone further down dip of historical drilling and the exposures in the underground development. Texas Zone mineralization is now interpreted to continue from the collar of the old Texas Shaft some 1,150 feet (350 meters) down dip to the SM20-050 intercept. Both the Texas West and East zones remain open to depth (See Figure 1). Table 3 further below provides drill hole azimuth, dip, end of hole length and collar coordinates for each of the reported drill holes. Table 1. Analytical and Assay Results from Texas West Zone Drill Hole ID, Zone From To Core Interval (ft) Cu % Ag Au Pb % Zn % & Interval(ft)(ft)optoptTEXAS WEST ZONE SM20-028198.95234.5535.602.567.5860.0080.10.13 SM20-03054.8982.0927.201.133.6490.0030.020.26 SM20-031136.09140.584.491.568.9400.0121.092.21 SM20-033110.79119.498.692.777.3300.0110.030.15 SM20-036112.40143.7031.300.999.2430.0070.392.15 SM20-038106.00131.0025.001.648.1520.0220.860.55INCLUDING:106.00122.9716.962.239.8550.0301.120.77 SM20-041 INTERVAL 1:63.7173.8810.171.295.1770.0030.070.04INTERVAL 2:104.20109.194.990.444.9470.0690.911.99 SM20-042 INTERVAL 1:58.9965.196.201.923.0040.0020.010.03INTERVAL 2:78.0883.995.911.063.3250.0020.030.1 SM20-043 (ft) (ft) Interval (ft) opt opt INTERVAL 1:131.00154.0023.002.845.2940.0060.010.29INCLUDING:131.00146.6915.683.817.1250.0050.010.07 SM20-049 INTERVAL 1:106.89120.6413.751.822.6080.0020.010.18INTERVAL 2:147.31151.253.942.424.0250.0040.010.07 Analytical and Assay results are pending for drill holes SM20-32, 34, 35, 37, 39, 40, 44-48 and 51 Note: Reported widths are drilled core lengths as true widths are unknown at this time. It is estimated based upon current data that true widths might range between 60-80% of the drilled intersection. A nominal cut-off grade of 0.5% Cu has been applied to determine the boundaries of the intersections for this skarn-hosted mineralization with no more than 1.22 meters of internal dilution. *A nominal cut-off grade of 4.375 opt (150 g/t) Ag has been applied to this intersection. Table 3 below documents; Drill Hole Azimuth, Dip, end of hole length, and Collar Coordinates (Note: See details below in QA/QC section). Table 2. Analytical and Assay Results from Texas East Zone Drill Hole ID, ZoneFromToCore Interval (ft)Zn %AgAuPb %Cu %& Interval(ft)(ft)optoptTEXAS EAST ZONE SM20-029202.20206.594.4019.676.6880.1113.940.25 SM20-043 INTERVAL 2:185.47200.8915.426.194.9180.0600.710.39INCLUDING:185.47196.4911.028.656.3610.0710.90.52 SM20-050 INTERVAL 1:151.84159.427.580.14.2550.0050.012.91INTERVAL 2:162.89190.2927.404.175.6820.1180.780.54 Analytical and Assay results are pending for drill holes SM20-32, 34, 35, 37, 39, 40, 44-48 and 51 Note: Reported widths are drilled core lengths as true widths are unknown at this time. It is estimated based upon current data that true widths might range between 60-80% of the drilled intersection. Intervals cut-offs are based upon visual contacts of massive sulphide units with no more than 0.80 meters of internal skarn. For hole SM20-050 Interval 1. a nominal cut-off grade of 0.5% Cu has been applied to determine the boundaries of the intersections for this skarn-hosted mineralization. Table 3 below documents; Drill Hole Azimuth, Dip, end of hole length, and Collar Coordinates (Note: See details below in QA/QC section). Table 3: Drill Hole Azimuth, Dip, End of hole length and Collar Coordinates Hole ID Azimuth Degree Dip Degree End of hole Length (ft) East (ft.) North (ft.) Elev. (ft.) SM20-028901524623117643936456866.77SM20-029126-1232523117643936456866.77SM20-03095-3012523117643936456866.77SM20-031110-1417923117643936456866.77SM20-032*105-6414423117643936456866.77SM20-033115-3020523117643936456866.77SM20-034*801521723117643936456866.77SM20-035*105147823117643936456866.77SM20-036105-1426923117643936456866.77SM20-037*100-1422523117643936456866.77SM20-038110-3018523117643936456866.77SM20-039*122-835023117643936456866.77SM20-040*105-2920023117643936456866.77SM20-041110-4018523117643936456866.77SM20-04287-6220423117643936456866.77SM20-043124-2039923117643936456866.77SM20-044124-2015423117643936456866.77SM20-045*0-5510823117643936456866.77SM20-046*127-3730523117643936456866.77SM20-047*60-8017323117643936456866.77SM20-048*135-3627523117643936456866.77SM20-049155-6020523117643936456866.77SM20-050150-4227623117643936456866.77SM20-051*170-4940423117603936436866.07 *The results pending for this drillhole. QUALITY ASSURANCE AND QUALITY CONTROL PROCEDURES The project employs a rigorous QC/QA program that includes blanks, duplicates and appropriate certified standard reference material. All samples are introduced into the sample stream prior to sample handling/crushing to monitor analytical accuracy and precision. The insertion rate for the combined QA/QC samples is 10 percent or more depending upon batch sizes. ALS Global completed the analytical work with the core samples processed at their preparation facility in Reno, Nevada, U.S.A. All analytical and assay procedures are conducted in the ALS facility in North Vancouver, BC. The samples are processed by the following methods as appropriate to determine the grades; Au-AA23-Au 30g fire assay with AA finish, ME-ICP61-33 element four acid digest with ICP-AES finish, ME-OG62-ore grade elements, four acid with ICP-AES finish, Pb-OG62-ore grade Pb, four acid with ICP-AES finish, Zn-OG62-ore grade Zn, four acid digest with ICP-AES finish, Ag-GRA21-Ag 30g fire assay with gravimetric finish. The technical information in this news release has been reviewed and approved by John Wilton, CGeol FGS, CEO and President of BeMetals, and a “Qualified Person” as defined under National Instrument 43-101, and approved by Larry D. Kornze, Retired, P. Eng., Qualified Person, and Director of Thunder Mountain Gold Inc., and a “Qualified Person” as defined by National Instrument 43-101 standards. The South Mountain Project South Mountain is a polymetallic development project focused on high-grade zinc and silver. It is located approximately 70 miles southwest of Boise, Idaho (see Figure 2). The Project was intermittently mined from the late 1800s to the late 1960s and its existing underground workings remain intact and well maintained. Historic production at the Project has largely come from high-grade massive sulfide bodies that remain open at depth and along strike. According to historical smelter records, approximately 53,642 tons of mineralized material has been mined to date. These records also indicate average grades; 14.5% Zn, 11.63 Ag, 0.063 opt Au, 2.4% Pb, and 1.4% Cu were mined. Thunder Mountain Gold Inc. purchased and advanced the Project from 2007 through 2019 investing approximately US$12M during that period. The current mineral resource estimate of the deposit is detailed in Table 3 below and the Company expects to provide a revised mineral resource update following a phase 2 drilling program in 2020. The Project is largely on and surrounded by private surface land, and as such, the permitting and environmental aspects of the Project are expected to be straightforward. Permits are currently in place for underground exploration activities. Regarding Thunder Mountain Gold, Inc. Thunder Mountain Gold Inc., a junior exploration company founded in 1935, owns interests in base and precious metals projects in the western U.S. The Company’s principal asset is The South Mountain Mine, an historic former producer of zinc, silver, gold, lead, and copper, located on private land in Owyhee County Idaho. In February 2019, The Company entered into an option agreement with BeMetals Corp. (www.Bemetalscorp.com) based in Vancouver, British Columbia, Canada. Thunder Mountain Gold also owns 100% of the Trout Creek Project – a gold exploration project located along the western flank of the Shoshone Mountain Range in the Reese River Valley, adjacent to and surrounded by Nevada Gold Mines, a joint operating agreement between Barrick and Newmont Goldcorp private mineral lands. For more information on Thunder Mountain Gold, please visit the Company’s website at www.Thundermountaingold.com. About BeMetals Corp. BeMetals is a precious and base metals exploration and development company focused on becoming a leading diversified metal producer through the acquisition of quality exploration, development and potentially production stage projects. The Company is evaluating numerous global potential entry-level precious metals projects while progressing both its advanced high-grade, zinc-silver-gold-copper polymetallic underground exploration at the South Mountain Project in Idaho, and its tier-one targeted, Pangeni Copper Exploration Project in Zambia. A strong board and management team, founders and significant shareholders of the Company, who have an extensive proven record of delivering considerable value in the mining sector through the discovery, construction and operation of mines around the world, lead BeMetals’ growth strategy. 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 in this press release include statements with respect to the completion of the transactions contemplated with BeMetals Corp., a Canadian Corporation. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof. The forward-looking statements are based on certain assumptions, which could change materially in the future, including the assumption that the transactions contemplated with BeMetals Corp. will be completed. 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 determination and ability of BeMetals to complete all required option payments and issuance of shares under the BeMetals Option Agreement, the receipt of all required regulatory approvals and the satisfaction of all required terms and conditions. Investors should refer to THMG’s Form 10-K, Form 10-Q reports, and Definitive 14C Information Statement as filed May 20, 2019, for a more detailed discussion of risks that may impact future results. 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. For further information, please contact: Thunder Mountain Gold, Inc. Eric T. Jones President and Chief Executive Officer Eric@thundermountaingold.com Office: (208) 658-1037 Figures accompanying this announcement are available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/32068ad7-b041-4481-bdd1-8bf429f7c38b https://www.globenewswire.com/NewsRoom/AttachmentNg/274e9ead-3ea8-46d4-b4fd-a79ce9736294

  • Phase 2 Underground Drill Program Commences at The South Mountain High-Grade Zinc-Silver-Gold-Copper Project
    GlobeNewswire

    Phase 2 Underground Drill Program Commences at The South Mountain High-Grade Zinc-Silver-Gold-Copper Project

    Figure 1: Location Map South Mountain MineBOISE, Idaho and VANCOUVER, British Columbia, Sept. 21, 2020 (GLOBE NEWSWIRE) -- Thunder Mountain Gold, Inc. (OTCQB: THMG; TSX-V: THM), (the “Company” or “THMG”) is pleased to announce that BeMetals Corp. has initiated their Phase 2 core drilling program at the Company's South Mountain Zinc-Silver-Gold Project in Owyhee County, Idaho, U.S.A. This year’s program is designed to extend the mineralized bodies at the Texas Zone and infill drill key areas of the DMEA Zone to prepare for completion of both an updated mineral resource estimate and a Preliminary Economic Assessment (“PEA”) for South Mountain in 2021. Highlights of the Planned 2020 Resource Expansion and Infill Drilling Campaign: * Complete 8,000 feet (2,400 meters) of diamond drilling for approximately 25 holes from at least three underground drilling locations, including opening and enlarging the southeastern section of the Sonneman level drift towards the Texas Zone; * The new Texas Zone drill stations will provide better locations for testing the newly defined high-grade copper-silver-gold targets; * Conduct infill drilling of the DMEA Zone to further evaluate the significant component of gold and silver intersections from the 2019 program that included;Drill Hole ID, Zone & IntervalFrom (m)To (m)Core Interval (m)Zn %Ag g/tAu g/tPb %Cu % SM19-002: Interval 385.8396.3910.5611.42123.04.430.360.52 SM19-00628.0143.7115.7021.27147.08.040.770.30 SM19-00726.9739.1712.2018.16122.64.411.550.16 SM19-016: Interval 2136.55146.6410.093.15151.31.680.660.22 SM19-016: Interval 4184.18188.64 4.475.04482.04.275.800.43 Note: Reported widths in the table are drilled core lengths as true widths are unknown at this time. It is estimated based upon current data that true widths might range between 60-80% of the drilled intersection (See notes to table 1 below & QA/QC section). * All the drilling data collected during this 2020 Phase will be incorporated into an updated resource estimate and a Preliminary Economic Assessment in 2021. Plans for the 2020 Phase 2 Resource Expansion Drilling ProgramBeMetals has formed a Boise, Idaho-based project team that is focused on advancing South Mountain. This team includes key management of Thunder Mountain Gold Inc., Optionees of the Property, who have coordinated re-establishment of the Project site for the start of Phase 2 drilling. The team continues to build and maintain strong relations with local communities relevant to the South Mountain Project in southwestern Idaho. The Project is largely on and surrounded by private surface land with much of the permitting in place that would facilitate development of the project given favourable results of technical and economic studies.BeMetals has contracted Boart Longyear to drill a total of approximately 25 underground core holes for some 2,400 meters at the South Mountain project. During the 2019 drilling campaign at South Mountain, the Company identified and intersected multiple zones of high-grade zinc with significant gold and silver mineralization in projected extensions of the polymetallic DMEA zone.Drilling has commenced from the Muck Bay 5 drilling station while the mining contractor, Quimby Mining Services, works on opening and enlarging the far southeastern section of Sonneman level to prepare drilling platforms closer to targets within the Texas Zone. The historical far southeastern section of the Sonneman adit has not been accessed since the 1980s. Subsequently, little underground exploration has been conducted on this zone in the past four decades.BeMetals has defined a number of compelling targets related to the Texas Zone from historical drilling, and underground sampling. These targets include both high-grade copper and zinc mineralization with a significant silver and gold component. A significant portion of this year’s underground drilling are planned to test and extend mineralization in this zone which can potentially add significant tonnage towards updating a mineral resource estimate for South Mountain in the first half of 2021.The infill drilling planned for the DMEA Zone area is designed to provide further information on the grade and distribution of both the gold and silver component to this polymetallic zone of mineralization. Table 1 below includes the complete results from the 2019 drilling of the DMEA Zone. Table 2 shows the azimuth, dip and collar co-ordinates for these drill holesTable 1. 2019 Program DMEA Zone: Analytical and Assay ResultsDrill Hole ID, Zone & IntervalFrom (m)To (m)Core Interval (m)Zn %Ag g/tAu g/tPb %Cu % DMEA Zone         SM19-002         Interval 146.8857.3910.5117.812262.411.590.16 Interval 267.8571.633.785.451458.390.580.15 Interval 385.8396.3910.5611.421234.430.360.52 SM19-003           Interval 151.1875.3524.1711.122673.443.750.29 Including51.1860.789.6011.744375.998.680.38 Including62.0975.3513.2611.771691.880.540.25 Interval 277.6081.243.649.743311.941.110.34 SM19-004 (Did not intersect mineralization)       SM19-00575.1386.3711.237.971281.200.910.24 SM19-00628.0143.7115.7021.271478.040.770.30 SM19-00726.9739.1712.2018.16122.64.411.550.16 SM19-014         Interval 1105.31120.4015.099.59127.11.500.690.28 Interval 2138.07143.885.814.8876.92.550.210.12 Interval 3155.17158.953.7814.49145.50.370.250.48 Interval 4184.40189.565.150.2879.92.080.150.06 Interval 5250.65258.948.298.11178.70.480.571.73 Interval 6266.33268.161.831.32158.92.560.56 0.11 SM19-016         Interval 1112.33132.0519.72†0.078.391.520.010.002 Interval 2136.55146.6410.093.15151.31.680.660.22 Interval 3158.27163.595.32†0.5946.81.810.110.04 Interval 4184.18188.644.47†5.04482.04.275.800.43 Interval 5227.32230.833.518.85136.20.171.251.67 Note: Reported widths in tables are drilled core lengths as true widths are unknown at this time. It is estimated based upon current data that true widths might range between 60-80% of the drilled intersection. Intervals cut offs are based upon visual contacts of massive sulfide units with no more than 1.75 meters of internal skarn. For SM19-016† (intervals 1, 3 and 4) a nominal 0.46 g/t gold cut off has been applied to determine the boundaries of the intersections with no internal dilution. (Note: See details below in QA/QC section).Upon completion of the 2020 drilling campaign additional metallurgical and hydrology testing as well as rock mechanic and mine modelling will be scheduled to be done in 2021. A Preliminary Economic Assessment for South Mountain is expected to be completed by approximately mid-2021.Table 2: Drill Hole Azimuth, Dip and Collar CoordinatesHole IDAzimuth DegreeDip DegreeEoh Length (m)East (ft)North (ft)Elevation (ft) SM19-002138-28102.41231,176394,1206,868 SM19-003152-4799.97231,176394,1206,868 SM19-004175-58119.79231,176394,1206,868 SM19-005175-5398.45231,176394,1206,868 SM19-006320+6158.67231,148393,9786,860 SM19-0073133074.07231,1481393,9786,860 SM19-014210-61271.79231,1176394,1296,868 SM19-016237-58.5267.61231,1176394,1296868 QUALITY ASSURANCE AND QUALITY CONTROL PROCEDURESThe Project employs a rigorous QA/QC program that includes; blanks, duplicates and appropriate certified standard reference material. All samples are introduced into the sample stream prior to sample handling/crushing to monitor analytical accuracy and precision. The insertion rate for the combined QA/QC samples is 10 percent or more depending upon batch sizes. ALS Global completed the analytical work with the core samples processed at their preparation facility in Reno, Nevada, U.S.A. All analytical and assay procedures are conducted in the ALS facility in North Vancouver, BC. The samples are processed by the following methods as appropriate to determine the grades; Au-AA23-Au 30g fire assay with AA finish, ME-ICP61-33 element four acid digest with ICP-AES finish, ME-OG62-ore grade elements, four acid with ICP-AES finish, Pb-OG62-ore grade Pb, four acid with ICP-AES finish, Zn-OG62-ore grade Zn, four acid digest with ICP-AES finish, Ag-GRA21-Ag 30g fire assay with gravimetric finish.The Technical information in this news release has been reviewed and approved by Larry D. Kornze, P. Eng., Qualified Person, and Director of Thunder Mountain Gold Inc., and a “Qualified Person” as defined by National Instrument 43-101 standards.The South Mountain ProjectSouth Mountain is a polymetallic development project focused on high-grade zinc and is located approximately 70 miles southwest of Boise, Idaho (see Figure 1). The Project was intermittently mined from the late 1800s to the late 1960s and its existing underground workings remain intact and well maintained. Historic production at the Project has largely come from high-grade massive sulfide bodies that remain open at depth and along strike. According to historical smelter records, approximately 53,642 tons of mineralized material has been mined to date. These records also indicate average grades; 14.5% Zn, 363.42 g/t Ag, 1.98 g/t Au, 2.4% Pb, and 1.4% Cu were realised. Thunder Mountain Gold Inc. purchased and advanced the Project from 2007 through 2019 investing approximately US$12M during that period. The current mineral resource estimate of the deposit is detailed in Table 3 below and the Company expects to provide a revised mineral resource update following a phase 2 drilling program in 2020.The Project is largely on and surrounded by private surface land, and as such, the permitting and environmental aspects of the Project are expected to be straightforward. Permits are in place for underground exploration activities and BeMetals does not anticipate significant barriers to any future development at the Project.Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ceaa4b2a-9ce6-4ac3-bb8c-ee6c50865dc1Regarding Thunder Mountain Gold, Inc. Thunder Mountain Gold Inc., a junior exploration company founded in 1935, owns interests in base and precious metals projects in the western U.S. The Company’s principal asset is The South Mountain Mine, an historic former producer of zinc, silver, gold, lead, and copper, located on private land in Owyhee County Idaho. In February 2019, The Company entered into an option agreement with BeMetals Corp. (www.Bemetalscorp.com) based in Vancouver, British Columbia, Canada. Thunder Mountain Gold also owns 100% of the Trout Creek Project – a gold exploration project located along the western flank of the Shoshone Mountain Range in the Reese River Valley, adjacent to and surrounded by Nevada Gold Mines, a joint operating agreement between Barrick and Newmont Goldcorp private mineral lands. For more information on Thunder Mountain Gold, please visit the Company’s website at www.Thundermountaingold.com.About BeMetals Corp.BeMetals is a new precious and base metals exploration and development company focused on becoming a leading diversified metal producer through the acquisition of quality exploration, development and potentially production stage projects. The Company is searching globally for an entry-level precious metals project while progressing both its advanced high-grade, zinc-silver-gold-copper polymetallic underground exploration at the South Mountain Project in Idaho, and its tier-one targeted, Pangeni Copper Exploration Project in Zambia. BeMetals’ growth strategy is led by our strong board and management, founders of the Company and significant shareholders, who have an extensive proven record of delivering considerable value in the mining sector through the discovery, construction and operation of mines around the world.Forward-Looking StatementsThis 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 in this press release include statements with respect to the completion of the transactions contemplated with BeMetals Corp., a Canadian Corporation. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof. The forward-looking statements are based on certain assumptions, which could change materially in the future, including the assumption that the transactions contemplated with BeMetals Corp. will be completed. 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 determination and ability of BeMetals to complete all required option payments and issuance of shares under the BeMetals Option Agreement, the receipt of all required regulatory approvals and the satisfaction of all required terms and conditions. Investors should refer to THMG’s Form 10-K, Form 10-Q reports, and Definitive 14C Information Statement as filed May 20, 2019, for a more detailed discussion of risks that may impact future results. 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 InvestorsNeither 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.For further information, please contact:Thunder Mountain Gold, Inc. Eric T. Jones     President and Chief Executive Officer   Eric@thundermountaingold.com   Office: (208) 658-1037