Thunder Gold (TSXV: TGOL) has intersected high-grade gold from surface over broad intervals at its Tower Mountain property in Ontario, sending shares to a 12-month high on Tuesday.
The company reported drill results from 13 shallow holes, totalling 753.5 metres. These were done on its flagship property, 50 km from Thunder Bay, from late November to early December.
The drills returned 54.2 metres at 1.9 grams gold per tonne from surface in hole TM24-152, including 10.5 metres at 3.6 grams gold. The program also recorded 25.5 metres at 1.8 grams gold at 1.5 metres depth in hole TM24-151, with a higher-grade interval of 7.6 metres at 3.6 grams gold. Hole TM24-153 cut 31.6 metres at 1.4 grams gold from surface, including 15 metres at 2 grams gold.
CEO Wes Hanson called the results “the most significant drill hole results at Tower Mountain in 50 years.” He underlined the potential to match grades found along the western Tower Mountain Intrusive Complex (TMIC) contact. Historical drilling on the western side outlined a conceptual target of 40 to 80 million tonnes averaging 0.8 to 1.2 grams gold per tonne, he said.
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