November 22, 1999……..Thundermin Resources Inc. (“Thundermin”) and 50% joint venture partner Queenston Mining Inc. (“Queenston”) announce that the second phase diamond drilling program on the high grade Duck Pond base metal property is nearing completion. The property, which is located in west-central Newfoundland approximately 30 km southeast of Buchans, is under option from Noranda Inc. and hosts two copper-zinc-lead-silver-gold volcanogenic massive sulphide 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 (See News Releases dated March 2, May 6, June 8 and 23, July 14 and 28, August 12 and 25, and October 12, 1999).

 

Eight additional holes designed to further evaluate and expand the Upper Duck Lens, where previous wide spaced drilling by Noranda outlined an inferred resource of 3,880,000 tonnes grading 3.8% Cu, 6.7% Zn, 1.1% Pb, 71.0 g/t Ag and 1.1 g/t Au, have been completed (See Table and attached Surface Plan).

 

Duck Pond Deposit – 1999 Phase Two  Drill Results

Hole #	Interval (m)	Length (m)*	%Cu	%Zn	%Pb	Ag (g/t)	Au  (g/t)
DP-57A	291.55-292.10	0.55	5.6	-	-	-	-
DP-99-217	223.40-226.20	2.80	no significant values
DP-99-218	90.40-106.20	15.80	no significant values
DP-99-219	335.70-342.60 353.55-360.15 399.05-408.75	5.90 6.60 9.70	3.6 3.4 4.0	6.9 6.5 6.6	2.2 1.1 1.5	133.3  75.1  70.4	1.7 1.3 0.8
DP-99-220	409.45-427.02 433.62-436.32	17.57 2.70	2.2 1.4	4.8 4.6	0.6 0.8	30.0  42.1	0.6 0.1
DP-99-221	268.30-274.25 282.25-285.00	5.95 2.75	3.2 2.3	0.2 3.5	0.1 0.6	19.8  40.2	0.1 0.5
DP-99-222	313.20-331.60	18.40	1.8	5.4	0.5	46.5	1.1
DP-99-223			no significant values

* vertical holes – approx. true thickness

    DP-57A – deepening of previous hole

 

 

 

Holes DP-99-219, 220, 221 and 222 were infill holes that all intersected appreciable thicknesses of good grade copper-zinc massive sulphides. Holes DP-99-217, 218, 223 and DP-57A were designed to investigate the possible extension of the Upper Duck Lens to the north. These holes failed to intersect any appreciable copper-zinc mineralization, but all intersected substantial sections of intensely altered felsic volcanics. In addition, holes DP-99-217 and 218 intersected 2.8 m and 15.8 m of massive pyrite mineralization, respectively. These results suggest that the favourable mineralized horizon persists to the north and warrants additional exploration  sometime in the future.

 

The drilling completed to date on the Duck Pond deposit has been extremely successful. This drilling has confirmed the existence of a substantial resource of high grade copper-zinc massive sulphide mineralization within the Upper Duck Lens and has greatly enhanced the confidence level in the continuity and grade of these resources. No further drilling is planned for this area at the present time and a new resource estimate will be calculated for both the Duck Pond and Boundary deposits upon completion of the current drill program.

 

Sixty-three holes have been completed on the Boundary deposit which has an inferred resource of 446,000 tonnes grading 3.5% Cu, 3.5% Zn, 0.5% Pb and 22.8 g/t Ag. This drilling will provide information for open pit modeling of this near-surface deposit and further define the continuity and grade of the resource. Assay results from the Boundary drilling will be released upon completion of the program in approximately two weeks.

 

Additional exploration continues in the northern part of this 11,796 hectare property. A 24 km induced polarization geophysical survey will commence shortly in the East Pond area where massive sulphide fragments assaying up to 21.0% Zn, 1.0% Pb, 0.7% Cu, 45.7 g/t Ag and 0.7 g/t Au have been discovered in a favorable felsic pyroclastic unit. An 1,800 m diamond drill program is planned for the Moose Pond and East Pond areas early in 2000. Recent prospecting has led to the discovery of disseminated base metal mineralization coincident with an electromagnetic and gravity anomaly in the South Moose Pond area. In the adjacent North Moose Pond area, large intensely chloritized boulders containing stringer chalcopyrite mineralization have been discovered. Selected grab samples from these boulders assay up to 11.7% Cu.  Both the Moose Pond and East Pond areas are viewed as being prospective for the discovery of a new base metal deposit similar to Duck Pond.

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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.