|About Thunder Mountain Gold, Inc. |
Thunder Mountain Gold was founded in 1935 and is an exploration company focused on discovering and defining quality, high-grade precious and base metal projects, primarily in politically stable regions such as the Western United States. Thunder Mountain Gold – THMG on the OTCBB, and newly listed on the TSX Venture Exchange under the symbol THM, performs its own natural resource exploration and generates value for shareholders by demonstrating the value of its properties through comprehensive exploration, and seeking strategic partners to move its properties into production. South Mountain, the Company's flagship property located in Owyhee County, Idaho – just north of the Nevada border - is 100% owned and controlled by Thunder Mountain Gold, Inc. The Company's other precious metals properties include Clover Mountain in Idaho, the Trout Creek and West Tonopah in Nevada and two properties in Arizona. For additional information please visit www.ThunderMountainGold.com.
Thunder Mountain is a junior exploration company that looks to be a long term play with very probable valuable claims but no mining planned on the near term. The latest drill results of Thunder Mountain Gold's 100 % owned flag ship property, South Mountain Mine, which has a land package consisting of approximately 1,200 acres of mostly private land - both owned outright and leased are very good and not unexpected. A new gold discovery was revealed during fieldwork at South Mountain in 2009, and THMG conducted further exploration on the new discovery to further identify the gold potential of the gold bearing intrusive breccia. Thunder Mountain plans a comprehensive drilling and exploration program at South Mountain in 2010 and 2011 as this property is the company's focus for near term production. I contacted the company regarding the referenced mine on location and they replied stating that “ Yes, the South Mountain Mine was In production in the 30`s, and 40`s” and that “This mine will be a producer in the future. We are scoping that possibility currently, and likely will be put back into production with a strategic partner. We have been exploring the down dip extensions, and indications are that the resource is quite large…..much larger than is currently reported. A date for production is not set yet.” The company has the possibility to go into rapid production on the existing mine when the price of gold jumps up as there will be plenty of money and or joint partners to do it with. Even the need for detail drilling could be put aside as the company in the short term could just follow the trend that the miners did in the 1930's and 40's and do simultaneous drilling to guide them further to the richest veins. They already have enough evidence of the richness of this massive area to put it in production again which leads me to the other possibility.
I think that they are taking their time and doing the drilling not to put the 1200 acre South Mountain Mine into operation but to fluff themselves up for a buy out of the company by one of the big mining companies. There has been this past year a rush by the big companies to pick up as many in ground assets as possible and as fast as possible. The quickest way is to buy out the junior exploration companies with large high grade deposits like Thunder mountain has. I believe that before the end of 2011 one of the big boys will have all of Thunder Mountain and the shares holders will do well by then owning shares in the big company. Thunder Mountain wants to increase their bargaining potential with the new drill results and by allowing their own share price to increase at a more rapid pace than the big take over company which would make for a handsome exchange for Thunder Mountain holders including management. To bolster this theory is their December 6th news release in further acquisitions, “Elko, Nevada and Boise, Idaho – December 6, 2010: Thunder Mountain Gold, Inc. (Company) (OTCBB: THMG; TSX-V: THM), a U.S.-based exploration company focused on discovering and defining high grade, high quality precious and base metal resources, announced today that it has optioned a prospective cobalt/gold property in the Idaho Cobalt Belt Trend, located 15 miles southeast of Formation Metal`s cobalt project in Lemhi County, Idaho.
The cobalt/gold CAS claims are in the Iron Creek Mining District of the Idaho Cobalt Belt. It consists of 46 unpatented lode claims located on U.S. Forest Service managed lands. The property has had extensive geophysical work completed from 2003 through 2006, plus 19 drill holes in some of the anomalous zones.
Under the terms of the option, the Company has until July 31, 2011 to finalize an agreement on the property to acquire 100% interest in the property. Financial terms have not been disclosed.
Jim Collord, President and CEO of Thunder Mountain Gold Inc. commented, “This property has the potential to add significant value to our portfolio of properties, with cobalt and gold mineralization similar to Formation Capital`s proposed mine, and the Blackbird Mine along the same trend. Our objective with this property would be to advance the potential of the mineralization and to understand the significance of any of the possible rare earth elements."
Thunder Mountain is playing this for the long term whether they mine themselves of sell out at a handsome stock swap to a big company. With only about 27 million common shares issued and outstanding as of September 2010 and no know debt and funding for their drill program through the Spring of 2011 already there, this company has it all in their favor. Either one of the big companies with rush to propose or the individual investors will and the company will do a quick start of their existing mine. Either way they come out a winner. At these low stock prices this company alone can be your retirement package.