We'll, in this crappy market for junior exploration companies, THS traded at $0.17 today. I take this as a reason to load up at these prices. See the following press release dated Nov. 3/97. This has got to be close to a bottom when stock of companies with these sort of results are being thrown away.
=========
FOR FURTHER INFORMATION PLEASE CONTACT:
Thunderwood Resources Inc.
Mr. John B. Heslop
President
(416) 362-8730
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
NOVEMBER 3, 1997
Thunderwood Resources Inc. and Consolidated Abitibi
Resources Ltd. Additional Ore Grade Copper Mineralization
and a New Gold Discovery on the Lew Property in Manitoba
TORONTO, ONTARIO--Thunderwood Resources Inc. and Consolidated
Abitibi Resources Ltd. announce that additional ore grade copper
mineralization and a new gold-bearing shear zone have been
intersected on the Lew volcanogenic copper-zinc-gold property
which is located approximately 20 kilometers east of Flin Flon,
Manitoba.
Hole 97-LW-6, which was targeted 125 feet down plunge from the
previously reported high grade copper-gold mineralization
intersected in 97-LW-3 that assayed 17.0 percent Cu, 2.0 percent
Zn, 76.3 g/t Ag and 2.0 g/t Au over a core length of 3.2 feet in
one zone and 8.4 percent Cu and 0.8 g/t Au over a core length of
23.8 feet in a second zone (see Press Release of September 25,
1997), intersected appreciable copper mineralization within
variably altered felsic volcanics over considerable sections of
the hole. The most significant intervals from 97-LW-6 are 2.4
percent Cu, 0.3 percent Zn, 10.7 g/t Ag and 0.3 g/t Au over a core
length of 11.4 feet, 1.0 percent Cu and 0.4 percent Zn over 15.7
feet, and 3.1 percent Cu over 3.0 feet.
Hole 97-LW-7, which was targeted to intersect the down plunge
projection of the copper mineralization approximately 275 feet
below the intersection in 97-LW-6, intersected a wide interval of
pervasively chlorite and sericite altered felsic volcanics
containing narrow copper stringers and disseminations which have
the appearance of a copper-stringer zone. The best copper-bearing
interval assayed 1.1 percent Cu over 4.0 feet. A downhole Pulse
EM survey conducted in this hole identified an untested conductive
body approximately 125 to 150 feet southwest of the hole at a
depth of approximately 700 feet. This conductor, which was also
identified in a downhole Pulse EM survey that was conducted in
97-LW-2, requires drilling.
Hole 97-LW-1, which was collared to test a coincident IP and
gravity geophysical anomaly, intersected gold mineralization, at a
vertical depth of 750 feet, that assayed 9.2 g/t Au and 14.0 g/t
Ag over a core length of 15.0 feet. This gold zone, which is
located approximately 2,400 feet southwest of the high grade
copper mineralization, occurs within sheared, strongly sericitized
felsic volcanics that contain 15 percent quartz and Fe-carbonate
veins and up to 10 percent disseminated pyrite. Two surface grab
samples taken 500 and 700 feet north of the intersection in
97-LW-1 assayed 12.1 g/t Au and 3.8 g/t Au, respectively. This
gold mineralization occurs along a north-trending shear zone
parallel to, and 500 feet east of, the Albert's Lake shear zone
where a mineral inventory of 400,000 tonnes grading 7.3 g/t Au was
previously defined in the Albert's Lake area of the Lew property.
An I.P. survey that was recently completed along the northern
projection of the shear zone that is associated with the new gold
mineralization found in 97-LW-1 and in surface grab samples
extended the I.P. anomaly that is coincident with the gold
mineralization and shear zone for a minimum distance of 4,400
feet.
The Lew property has the potential to host a high-grade
volcanogenic copper-zinc-gold deposit and a shear-hosted gold
deposit. A $625,000 follow-up exploration program consisting of
15,000 feet of diamond drilling, downhole Pulse EM and surface IP
geophysical surveys designed to outline both gold and base metal
resources on this highly prospective property will be undertaken
this winter after freeze-up.
/T/
1997 LEW DIAMOND DRILLING PROGRAM
SIGNIFICANT INTERSECTIONS
---------------------------------------------------------------
Core
Hole # Grid Location Az Dip Interval Length Cu Zn
(ft) (degrees)(degrees) (ft) (ft) (percent)
---------------------------------------------------------------
97-LW-1 6+00N/155+00E 290 -50 864.0-879.0 15.0 0.03 0.01
97-LW-2 18+00N/165+00E 305 -62 N.S.V.
97-LW-3 21+10N/180+75E 035 -62 324.0-391.0 67.0 2.29 0.30
(including) (x)324.0-327.2 3.2 17.02 2.00
393.0-395.0 2.0 0.05 4.89
(x)481.7-505.5 23.8 8.44 0.03
97-LW-4 19+00N/160+53E 035 -63 628.0-630.5 2.5 1.35
647.5-650.5 3.0 1.10
97-LW-5 19+00N/161+23E 035 -60 N.S.V.
97-LW-6 19+64N/160+48E 037 -59 163.6-179.3 15.7 0.98 0.42
476.3-479.3 3.0 0.02 2.53
486.5-497.9 11.4 2.44 0.34
524.0-540.0 16.0 1.50
689.0-692.0 3.0 3.12 0.04
700.0-703.0 3.0 1.46
97-LW-7 17+75N/159+80E 035 -61 436.0-441.0 5.0 0.24
480.5-483.5 3.0 0.80
506.0-510.0 4.0 1.10
544.0-546.5 2.5 0.66
---------------------------------------------------------------
---------------------------------------------------------------
Core
Hole # Grid Location Az Dip Interval Length Ag Au
(ft) (degrees)(degrees) (ft) (ft) (g/t) (g/t)
---------------------------------------------------------------
97-LW-1 6+00N/155+00E 290 -50 864.0-879.0 15.0 14.87 9.20
97-LW-2 18+00N/165+00E 305 -62 N.S.V.
97-LW-3 21+10N/180+75E 035 -62 324.0-391.0 67.0 7.03 0.22
(including) (x)324.0-327.2 3.2 76.25 2.00
393.0-395.0 2.0 1.00 0.05
(x)481.7-505.5 23.8 5.74 0.77
97-LW-4 19+00N/160+53E 035 -63 628.0-630.5 2.5
647.5-650.5 3.0
97-LW-5 19+00N/161+23E 035 -60 N.S.V.
97-LW-6 19+64N/160+48E 037 -59 163.6-179.3 15.7 1.67 0.07
476.3-479.3 3.0 1.80 0.48
486.5-497.9 11.4 10.72 0.27
524.0-540.0 16.0
689.0-692.0 3.0 1.80 0.34
700.0-703.0 3.0
97-LW-7 17+75N/159+80E 035 -61 436.0-441.0 5.0
480.5-483.5 3.0
506.0-510.0 4.0
544.0-546.5 2.5
---------------------------------------------------------------
(x) - previously reported
N.S.V. - no significant values
/T/
-30-
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P.S. THS will soon (about 2 weeks I'm told) have its own web site. |
