Another none flashy property is their 35% interest in the Owl Creek
The recent decision of Kinross to invest $1million in drilling in
Black Hawk Hoyle property and $12 million in a future mine will give
a very big potential to Owl Creek taking in prespective the position
and location of this property.
You will find here under an old press release,which soon will be of
actualty.
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: THUNDERWOOD RESOURCES INC.
TSE SYMBOL: THS
NASDAQ/OTC BULLETIN BOARD SYMBOL: TWDRF
MARCH 14, 1996
Diamond Drilling Program Started on Owl Creek West Gold
Property
TORONTO, ONTARIO--Thunderwood Resources Inc. announces that a $302,000 phase
two diamond drilling program consisting of approximately 16,000 feet of
drilling in 15 holes employing two drill rigs has commenced on its 35
percent-owned Owl Creek West property with joint venture partner, Kinross
Gold Corporation, as operator. The Owl Creek West property is located two
miles west of Kinross' Hoyle Pond Gold Mine in Hoyle Township, Timmins,
Ontario.
A phase one drill program consisting of 5,860 feet of drilling in nine holes
was completed on the property in September 1995. This program was
successful in that it confirmed the up-dip, near surface continuity and near
vertical attitude of gold mineralization previously intersected at generally
deeper intervals on the property. The most significant intersections from
individual holes from this drilling include 0.53 oz Au/ton over 6.3 feet
(visible gold), 0.30 oz over 6.4 feet, 0.23 oz over 4.1 feet (visible gold),
0.17 oz over 6.7 feet and 0.12 oz over 3.8 feet. Other significant
intersections from historical drilling on the property include 0.51 oz
Au/ton over 26.2 feet. 0.56 oz over 4.9 feet, 0.31 oz over 16.4 feet, 0.33
oz over 32.7 feet and 0.44 oz over 9.8 feet, 0.23 oz over 23.5 feet, 0.19 oz
over 21.3 feet and 0.16 oz over 19.7 feet. The purpose of the phase two
program will be to increase the resources in the known gold-bearing zones on
the property prior to making a decision to proceed with an underground
exploration program.
The Owl Creek West property is strategically located along the same gold-
bearing horizon that hosts Kinross' new 1060 gold zone and the past-
producing Owl Creek open pit, to the east, and Bell Creek Mine to the west.
In addition, the property is located on the eastern end of a new gold-
bearing system that has been traced for over 6,000 feet from Owl Creek West
across Black Hawk Mining Inc.'s Vogel property and onto Pentland Firth's
Schumacher property to the west. The numerours ore grade gold intersections
already encountered on these three properties strongly suggest that further
drilling could lead to the definition of sufficient tons of ore to support a
viable mining operation along this trend. |
