Thundermin Resources Inc. (“Thundermin”) and 50% joint venture partner Queenston Mining Inc. (“Queenston”) announce that they have intersected the thickest section of highest grade copper-zinc bearing massive sulphides so far encountered on the Duck Pond property, which is located approximately 30 km southeast of Buchans in west-central Newfoundland. Hole DP-99-207 assayed 5.8% Cu, 12.4% Zn, 1.9% Pb, 92.7 g/t Ag and 0.8 g/t Au over 33.0 m, including a 6.8 m section that assayed a remarkable 15.1% Cu, 5.5% Zn, 0.4% Pb, 112.8 g/t Ag and 0.8 g/t Au followed by a contiguous 13.3 m section that assayed 3.2% Cu, 19.2% Zn, 3.8% Pb, 110.6 g/t Ag and 0.7 g/t Au. Assay results for three additional holes from the on-going diamond drilling program on the Duck Pond property are set out below (See Table, attached Surface Plan and News Release dated July 14, 1999.) The Duck Pond property, which is under option from Noranda Inc., hosts two volcanogenic base metal deposits, the Duck Pond and Boundary, that contain inferred resources of approximately 6,000,000 tonnes grading 3.4% Cu, 6.4% Zn, 1.1% Pb, 61.4 g/t Ag and 0.9 g/t Au.

 

Duck Pond Deposit – 1999 Drill Results

 

HOLE#	LOCATION (m)	INTERVAL (m)	LENGTH (m)*	Cu %	Zn %	Pb %	Ag G/t	Au G/t
DP-99-201	9175N/9625E	412.70-434.25 497.75-499.30	21.55 1.55	4.1 3.7	7.0 10.6	1.6 1.2	108.1 72.6	1.7 0.2
DP-99-202	9225N/9675E	389.90-399.10	9.20	5.3	4.8	1.0	105.5	1.5
DP-99-203	9275N/9700E	380.10-385.70	5.60	2.4	6.3	1.4	54.1	0.8
DP-99-204	9500N/9625E	237.60-244.70 256.30-284.15	7.10 27.85	5.5 4.1	1.6 5.1	0.1 1.1	23.7 76.5	0.2 1.2
DP-99-205	9475N/9600E	260.20-290.90	30.70	4.0	9.6	1.5	98.5	0.9
DP-99-206	9275N/9650E	371.00-385.80	14.80	2.8	5.5	1.2	67.6	0.6
DP-99-207	9525N/9600E	227.00-260.00 228.15-234.95 234.95-248.25	33.00 6.80 13.30	5.8 15.1 3.2	12.4 5.5 19.2	1.9 0.4 3.8	92.7 112.8 110.6	0.8 0.8 0.7
DP-99-208	9225N/9575E	370.90-373.45	2.55	5.8	1.7	0.4	36.3	0.8
DP-99-209	9500N/9575E	245.00-264.80 245.00-246.95	19.80 1.95	0.7 2.6	0.7 2.6	1.3 1.7	0.3 0.3	23.8 30.2
DP99-210	9225N/9525E	342.50-367.00 353.50-363.30	24.50 9.80	5.7 8.2	8.1 8.8	0.5 0.6	36.0 46.5	0.5 0.5

 

*    Vertical Holes – approx. true thickness

Holes DP-99-201 to 206 previously announced.

 

 

Holes DP-99-207 and DP-99-209 were collared 25 m north and west, respectively, of previous hole DP-88-154 that intersected 45.8 m of massive sulphides grading 3.5% Cu, 5.6% Zn, 0.7% Pb, 57.7 g/t Ag and 0.9 g/t Au. Hole DP-99-207 further confirms the tonnage assigned to hole DP-99-154 and establishes that the thick section of high grade copper-zinc mineralization encountered in holes DP-88-154, DP-99-204 and 205 extends further to the north along the baseline in an area where further drilling is warranted. Hole DP-99-209 intersected a 54.0 m section of massive to semi-massive pyritic sulphides containing narrow intervals of higher grade copper-zinc sulphides.

 

Hole DP-99-208 intersected a narrow interval of high grade copper mineralization in an interpreted area of structural thinning associated with the Duck Pond thrust.

 

Hole DP-99-210 intersected 24.5 m of high grade copper-zinc sulphide mineralization which confirms the grades and thicknesses previously intersected in this portion of the deposit.

 

The drilling completed to date on the Duck Pond deposit has shown that there is potential to expand tonnages. In addition, based on holes DP-99-204, 205 and 207, copper grades in the thick, shallower  portion of the deposit have been increased from approximately 3.0% Cu to 5.0% Cu and zinc grades in the same area have been increased from 5.7% Zn to 11.0% Zn.

 

An additional exploration program consisting of prospecting, geological mapping and deep penetrating TDEM surface geophysics is continuing in the North and South Moose Pond areas of the 11,796 hectare property, approximately 7 km northeast of the Duck Pond deposit. Recent prospecting in the South Moose Pond area has led to the discovery of disseminated pyrite, chalcopyrite, sphalerite and galena mineralization in altered felsic volcanics at a mafic volcanic – felsic volcanic contact. This base metal mineralization occurs with a weak horizontal loop geophysical anomaly that is contiguous, in part, with a 0.3 milligal gravity anomaly. The association of the disseminated sulphide mineralization, the horizontal loop anomaly and the gravity anomaly may be indicating the presence of a massive sulphide body at depth. Recent prospecting in the North Moose Pond area has led to the discovery of additional float boulders of chloritized mafic and felsic volcanics that contain abundant stringer chalcopyrite mineralization.  The source of the boulders may be a copper stringer zone associated with an undiscovered massive sulphide deposit in the area. Similar boulders from the North Moose Pond area have assayed up to 11.7% Cu. The current exploration program being conducted in the North and South Moose Pond area is designed to identify drill targets for the discovery of a new massive sulphide deposit similar to Duck Pond.

 

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July 28, 1999

 

 

For further information please contact Mr. John B. Heslop, President or Mr. Hugh D. Harbinson, Managing Director of Thundermin (THR:TSE) or Mr. Charles E. Page, President of Queenston (QMI:TSE) at (416) 364-0001.

 

 

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