A huge new win for Thunder Gold (TSE:TGOL), formerly White Metal Resources, emerged recently as it found what some are calling a “generational discovery” at one of their key properties west of Thunder Bay, Ontario. New reports suggest a find so rich that its like has not been seen in decades, and shareholders poured in as a result. Thunder Gold shares were up over 25% in Tuesday morning’s trading.
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The strike made at the Tower Mountain property, as it is known, is about 50 kilometers, or roughly 31 miles, west of Thunder Bay. And the strike found therein—verified by supporting drill core assay—is the best seen in approximately 50 years.
How good, you wonder? The target revealed around 1.93 grams per ton across 54.2 meters in one area, labeled TM24-152, and 0.93 grams per ton over 41.8 meters in another sector labeled TM24-160. Lest anyone think these were merely cherry-picked results, 13 different drill holes were used to test the area. Not one came back with less than 0.30 grams per ton. This, according to Thunder Gold, points to “…large-tonnage low-grade gold resource potential.”
A Widespread Win
Other reports suggest that the strike is surprisingly widespread. It not only starts at the surface, but is “continuous down-dip for up to 50 meters.” Moreover, “consistent gold mineralization” is suggested along the length of a 125 meter strike, and true widths in said strike range from between 20 and 45 meters.
All of this may sound like complex mining jargon, but the ultimate takeaway here is that this is what Thunder Gold’s CEO described as “the most significant drill results at Tower Mountain in 50 years.” It may ultimately prove to be a “Tier One gold discovery,” and is already slated for a “conceptual exploration target” of between 40 and 80 million tons with between 0.8 and 1.2 grams per ton on average throughout.
Is Thunder Gold a Good Stock to Buy?
Turning to Wall Street, no analysts as yet have a position on Thunder Gold, so we turn to the last five days of trading for the stock. Shares are up significantly over the last five days, thanks mainly to today’s gains. Finding that kind of gold in one place was a real winner for Thunder Gold—as it would be for anyone—and shares are up 42.86% in the period as a result.
