More drill results.
==========
FOR FURTHER INFORMATION PLEASE CONTACT:
Thunderwood Resources Inc.
Mr. John B. Heslop
President
416-362-8730
E-mail at info@thunderwood.com
visit our website at www.thunderwood.com/explore
or
Consolidated Abitibi Resources Ltd
Dr. James W. Gill
President
416-362-4699
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: THUNDERWOOD RESOURCES INC.
TSE SYMBOL: THS
OTC Bulletin Board SYMBOL: TWDRF
AND CONSOLIDATED ABITIBI RESOURCES LTD
ME SYMBOL: CAQ
MARCH 5, 1998
Thunderwood Resources Inc. and Consolidated Abitibi
Resources Ltd. More High Grade Gold And Copper-Zinc
Mineralization Intersected On The Lew Property In
Manitoba
TORONTO, ONTARIO--Thunderwood Resources Inc. and Consolidated
Abitibi Resources Ltd. announce that more high grade gold and
copper-zinc mineralization has been discovered during their
on-going diamond drilling program on the Lew volcanogenic
copper-zinc-gold property which is located approximately 20
kilometers east of Flin Flon, Manitoba.
Hole 98-LW-14 intersected 140.7 g/t Au and 220.0 g/t Ag over 1.5
feet, at a vertical depth of approximately 135 feet, which is 60
feet south and 110 feet below the previously announced
intersection in hole 98-LW-16, which assayed 38.5 g/t Au and 49.8
g/t Ag over 10.0 feet (see attached Table). Hole 98-LW-17
intersected 31.6 g/t Au and 32.0 g/t Ag over 1.0 foot at a
vertical depth of 300 feet, vertically below the intersection in
hole 98-LW-16. Hole 98-LW-18 intersected four gold-bearing zones
that assayed 2.2 g/t Au over 1.7 feet, 1.1 g/t Au over 3.5 feet,
2.5 g/t Au over 2.9 feet and 1.0 g/t Au over 3.0 feet at the 250
foot elevation, approximately 175 feet north of the gold
mineralization in 98-LW-17. A 55 degree-60 degree, west-dipping,
gold-bearing structure has now been defined over a strike length
of 275 feet and to a vertical depth of 300 feet in four holes.
This structure is open both along strike and down dip and further
follow-up drilling to determine the extent of this gold
mineralization is warranted.
Holes 98-LW-17 and 18 were also collared to further evaluate
off-hole Pulse EM geophysical anomalies and previously announced
high grade, stringer copper mineralization intersected in 98-LW-16
that assayed 1.2 percent Cu over 38.0 feet, including 2.9 percent
Cu over 6.0 feet, and 5.4 percent Cu, 5.0 g/t Ag and 0.7 g/t Au
over 10.0 feet at vertical depths of approximately 1,050 feet and
1,200 feet, respectively. Hole 98-LW-18 intersected a completely
new, partly banded, massive sulphide zone containing 70 percent-80
percent pyrite, chalcopyrite and sphalerite that assayed 3.1
percent Cu, 10.5 percent Zn, 10.4 g/t Ag and 1.3 g/t Au over 5.0
feet at a vertical depth of 950 feet. A down hole Pulse EM survey
conducted in this hole gives a strong inhole response which
suggests that these sulphides are very conductive and should have
some lateral extent. This is the first time that banded massive
sulphide mineralization has been intersected at this depth on the
Lew property. Hole 98-LW-17 intersected additional stringer
copper mineralization at a depth of approximately 1,100 feet that
assayed 2.2 percent Cu over 1.0 foot and 1.0 percent Cu over 11.0
feet, including 4.8 percent Cu over 1.0 foot. The association of
an extensive zone of hydrothermal alteration with copper stringer
mineralization and gold-rich, copper-zinc massive sulphides is
viewed as being extremely encouraging and suggest that further
drilling may lead to the discovery of a significant base metal
deposit on the Lew property. It is anticipated that two
additional holes will be drilled to further evaluate this new
massive sulphide discovery prior to spring break-up.
/T/
1998 LEW DIAMOND DRILLING PROGRAM
SIGNIFICANT INTERSECTIONS
Hole Grid Az Dip Interval Core Cu Zn Ag Au
No. Loca- (de- (de- (ft) Length (per- (per- (g/t) (g/t)
tion gree) gree) (ft) cent) cent)
---------------------------------------------------------------
GOLD ZONE
---------------------------------------------------------------
98-LW-14 19+25N/ 125 -60 183.5-185.0 1.5 - - 220.0 140.7
152+00E
(x)98-LW-16 20+15N/
152+90E 125 -60 37.4-47.5 10.0 - - 49.8 38.5
98-LW-17 20+15N/
149+97E 127 -60 366.0-367.0 1.0 - - 32.0 31.6
98-LW-18 22+00N/
149+75E 127 -52 210.0-211.7 1.7 - - - 2.2
278.0-281.5 3.5 - - - 1.1
309.0-311.9 2.9 - - - 2.5
331.5-334.5 3.0 - - - 1.0
----------------------------------------------------------------
COPPER-ZINC-GOLD ZONE
----------------------------------------------------------------
98-LW-17 20+15N/
149+97E 127 -60 1441.7-1442.7 1.0 2.2
1460.5-1471.5 11.0 1.0
(xxx)1470.5-1471.5 1.0 4.8
(xx) 98-
LW-18 22+00N/
149+75E 127 -52 1330.0-1335.3 5.0 3.1 10.5 10.4 1.3
----------------------------------------------------------------
(x) Previously reported
(xx) Massive sulphides
(xxx)Including
Gold results for holes 14, 16, 17 average of 6 assays from two
labs.
/T/
-30- |
