Positive results for Thunderwood

A feasibility study is expected to get under way this spring at Thunderwood Resources’ (TSE) wholly owned Gold Hawk property in the Val d’Or area of Quebec, where the first gold bar was poured recently.

Thunderwood is a product of the recent amalgamation of Syngold Explorations and International Thunderwood Explorations.

Results from the phase-one and phase-two underground exploration programs have enhanced the Gold Hawk project to the stage that a production feasibility study could be undertaken in the first quarter, according to President John Heslop.

Having tested 3,556 tons of ore at Belmoral Mines’ (TSE) nearby milling facility, Thunderwood has more than 1,570 tons of stockpiled ore remaining on surface.

Phase two of exploration is being completed via the production shaft of Aur Resources’ (TSE) Kierens zone gold mine which is expected to produce about 30,000 oz. gold this year.

The program consists of 490 ft. of drifting on the 714 and 614 sublevels, 246 ft. of raising between the 750 level and the 714 and 614 sublevels, 390 ft. of back slashing on the 714 sublevel and 2,700 ft. of underground drilling.

Muck samples from 1,507 tons of ore hoisted to surface yielded an average uncut grade of 0.64 oz. gold per ton over a mining width of 5 ft., said Heslop. “Corresponding chip samples yielded an average uncut grade of 0.67 oz.,” he said.

Meanwhile, Thunderwood has realized $183,370 on gold sales from a 16,400-ton bulk sample at the Donalda joint venture near Rouyn-Noranda, Que. Thunderwood holds a 35% stake in the project where drill-indicated reserves stand at 804,000 tons of grade 0.25 oz., while Minnova (TSE) has 65%.

Project operator Minnova (TSE) is reviewing results from an underground program and undertaking an internal production feasibility study which is expected to be completed by year-end.

Thunderwood has more than $1.8 million in cash, and 21.6 million shares outstanding. They were trading recently at $1.35 in a yearly range of 52 cents and $1.47.