Tower Mountain - Thunder Bay, Ontario
Project Snapshot
- 100% Owned – 2,500 hectares in a proven gold district
- Low Discovery Cost – all-in discovery cost under $10/oz
- Efficient Drilling – average drilling cost of only ~$250/m
- Established Work Program – 42,000+ metres drilled across 200+ holes
- Permits Secured – all permits in place to advance the project
- High Recoveries – gold recoveries consistently above 90%
Project Summary
Tower Mountain is an emerging district-scale gold system located 50 km west of Thunder Bay, Ontario, in one of Canada’s most established mining jurisdictions. The 100%-owned, 2,500-hectare property hosts a large intrusion-related gold system with exceptional continuity, consistent grades, and strong expansion potential.
More than 40,000 metres of historical drilling have outlined widespread mineralization averaging approximately 0.8 g/t gold, with high-grade intercepts up to 941 g/t Au over 1.5 metres. Gold occurs both within the Tower Mountain Intrusive Complex and throughout the surrounding altered volcanic rocks, forming a laterally extensive and predictable system.
Importantly, drilling has tested only about 25% of the intrusive perimeter. The remaining 75% exhibits identical geology, alteration, and geophysical signatures, providing a clear path for discovery growth across multiple target zones.
With direct access to the Trans-Canada Highway, on-site rail and hydro, proximity to the port of Thunder Bay, and >90% metallurgical recoveries, Tower Mountain combines scale, infrastructure advantages, and development potential rarely seen at this stage. Thunder Gold is advancing the project through a disciplined, systematic approach aimed at unlocking a long-life, large-tonnage gold asset with the potential to support future open-pit development.
Premium Location
- No roads or power needed — Tower Mountain has highway, rail, and hydro on site that significantly lower drilling and development costs.
- Thunder Bay delivers a ready mining workforce and full-service support.
- Safe, stable, mining-friendly jurisdiction with extremely low geopolitical risk.
Regional and Local Geology
Tower Mountain is in the Archean Superior Province, Wawa Subprovince, consisting of slivers and belts of komatiites, basalts, dacites and rhyolites and associated metasedimentary rocks intruded by numerous granitoid plutonic rocks. The property lies within the Shebandowan Greenstone Belt, a late Neoarchean intercratonic basin assemblage that consists of potassium rich shoshonitic volcano-plutonic rocks interlayered with calc-alkalic rocks with abundant, massive, unsorted volcanic hematized breccias and polymitic conglomerates, arkose, mudstones and iron formation.
The northeastern portion of the property is dominated by the Tower Mountain Intrusive Complex (“TMIC”) a multi-phase alkalic intrusion measuring approximately 2,200 metres by 1,200 metres. The TMIC intrudes alkaline volcanic rocks consisting largely of latite-andesite flows and tuffs. Both the volcanics and intrusives demonstrate varying degrees of ankeritization, hematization, sericitization and potassic alteration (REFERENCE FIGURE 1.0).
Mineralization
To date, 26 gold occurrences have been identified in and around the TMIC, with most located within a 500 m halo around the intrusion. Drilling has primarily targeted a 1.5 km by 500 m corridor on the western side, including the Bench and UV zones.
Exploration has confirmed:
- Consistent, large-tonnage, low-grade mineralization (~0.8 g/t Au)
- High-grade intercepts up to 941 g/t Au over 1.5 m
- Continuity over hundreds of metres in most holes
- Higher-grade zones linked to syenite–monzonite dikes and sills
- Pyrite as a strong gold indicator
Induced Polarization (IP) has successfully guided targeting and has outlined new, undrilled zones on the eastern TMIC contact. This area hosts the highest surface sample grades on the property and is the focus of upcoming drilling.
Drill results indicate broad, consistent, large-tonnage, low-grade gold mineralization (averaging ~0.8 g/t Au, with some high-grade intercepts up to 941.0 g/t Au over 1.5 metres). The gold mineralization persists over 100’s of metres in virtually all holes drilled to-date. Higher grade gold mineralization appears localized within and proximal to syenite-monzonite dikes and sills, the orientation and frequency of which is currently being evaluated. Pyrite content appears to be a key indicator of increased gold grades and Induced Polarity has been proven to be an effective vector for exploration success, particularly at the Bench target. Pyrite content appears to be a key indicator of increased gold grades and Induced Polarity (“IP”) has been proven to be an effective vector for exploration success, particularly at the Bench target. IP has identified numerous targets on the east side of the intrusion which has yet to be drilled. The surface samples from the east side of the intrusion are the highest gold grades of all the surface samples on the property. This is then next area where drilling will be focused.
Exploration Model
The Company believes that the gold mineralization at Tower Mountain may represent the upper expression of an Intrusion Related Gold Deposit (“IRGD”). IRGD-type deposits offer increased opportunity for Tier One gold discoveries, typically offering deposits of greater than 100 M tonnes, averaging between 0.75 to 1.25 g/t Au and containing greater than 5.0 M oz. of gold. The Company advises that this represents the exploration target it is seeking to establish at Tower Mountain through systematic exploration.
The current database for the property consists of:
- 183 diamond drill holes totaling 41,000 metres
- 24,711 drill hole gold assays
- 3,894 multi-element ICP assays from drill core
- 885 surface rock samples
- 58 surface channel samples
- 566 line-kilometres of airborne magnetic survey and
- 529 ha Induced Polarity DASVision™ (“IP”) geophysical survey
Figure 1. Tower Mountain property with known gold occurrences
The Tower Mountain Intrusion is shown in pink. The “halo” of gold mineralization extends roughly 500 metres around the intrustion, shown by the red dotted line. The black line outlines the Tower Mountain property which is 100% owned.
Exploration Strategy & Drill Program Results
Thunder Gold’s exploration strategy at Tower Mountain is focused on demonstrating scale, continuity, and growth potential across the intrusive contact. With more than 40,000 metres of historical drilling and multiple recent drill campaigns, the project continues to deliver consistent grades, broad mineralized intervals, and new expansion targets. Each phase of drilling has systematically advanced the geological model, confirmed the predictability of the system, and highlighted the opportunity for a large-tonnage, long-life gold operation in a premier jurisdiction.
Highlights
- 13 holes completed totalling 1,773 metres across four target areas
- 92% hit rate, with 12 of 13 holes returning significant gold mineralization
- Standout intercepts include 1.25 g/t Au over 103.5 m and 0.58 g/t Au over 187.5 m
- High-grade hit of 327 g/t Au over 1.0 m with visible gold at the A-Target
- All-in drilling costs under C$250/m — among the lowest in Canada
- Program completed safely, on time, and under budget
Summary
Phase Two delivered a strong combination of expansion, grade consistency, and discovery across four separate zones surrounding the Tower Mountain Intrusive Complex (TMIC). Results from the P-Target on the eastern side were statistically consistent with the 41,000 metres previously drilled on the western side, confirming scale and continuity across the system. The 3738-Target showed broad, continuous mineralization, while the A-Target returned both strong widths and a standout high-grade intercept with visible gold. The H-Target delivered a successful first test and remains open. The program reinforced the project’s scalability and highlighted Tower Mountain’s rare combination of grade consistency, low-cost exploration, and growth potential.
Highlights
- 9 holes drilled (1,209 metres) out of a planned 2,000 metres
- 92% success rate with 8 of 9 holes returning low-grade gold over broad intervals
- Gold values ranged from 0.10 to 0.50 g/t Au across tens of metres
- Interpretation indicates a 30–40° southeast plunge of the high-grade target
- All-in exploration costs of C$273/m, below guidance
- Remaining 800 metres deferred to Phase Two due to access and safety conditions
Summary
Phase One focused on testing the P-Target along a 300-metre strike length and at depth. Despite challenging access and winter conditions, the program confirmed the down-plunge geometry of the mineralized monzonite and delivered consistent mineralization comparable to historical results from the western TMIC contact. Although the highest-grade host rocks were not intersected in this phase, drilling validated the geological model and highlighted strong parallels in grade distribution with western drill data. With low exploration costs and clear vectors for follow-up, Phase One laid the groundwork for the successful Phase Two program.
Highlights
- 4,000 metres drilled, confirming the outline of a large-tonnage, low-grade gold system
- Continuity established between the A and Ellen targets across a 300 x 300 m block
- High-grade intercepts including 941.0 g/t Au over 1.5 m (TM23-137) — the highest ever reported at Tower Mountain
- Multiple broad gold intervals such as:
- 17 g/t Au over 250.4 m (TM23-139)
- 53 g/t Au over 24.5 m (TM23-140)
- 59 g/t Au over 36.3 m and 1.12 g/t over 13.4 m (TM23-143)
- Demonstrated strong continuity with 11 of 12 holes intersecting broad anomalous mineralization
- Completed on time and on budget, with all-in exploration costs of ~$260/m
Summary
The 2023 Phase One drill campaign successfully expanded the mineralized footprint at Tower Mountain, confirming continuity between the A and Ellen targets and defining a cohesive block of mineralization across a 500-metre strike length open along trend. High-grade intercepts — including the project’s best-ever result of 941.0 g/t Au over 1.5 metres — validated the potential for both bulk-tonnage and structurally hosted high-grade mineralization within the same system. Nearly every hole returned long intervals of gold above cutoff thresholds, demonstrating excellent consistency. Historical comparisons further reinforced the scale and quality of the system, aligning Tower Mountain with some of the most successful results reported elsewhere in the Shebandowan Greenstone Belt. With more than 10,000 metres of high-priority IP anomalies remaining untested, the program set the stage for targeted follow-up and aggressive expansion.
Highlights
- Established continuity of mineralization at depth at the Bench target
- Expanded Bench zone along strike and down dip
- Identified new mineralized zones at the A, T, Ellen, and 110 targets
- 58 surface channel samples at the A-Target averaged 3.16 g/t Au across 20 metres
- Multiple drill holes delivered broad anomalous gold intervals over hundreds of metres
- Confirmed grade tenor, extent, and contact-related mineralization patterns
Summary
The 2021–2022 program achieved all major exploration objectives, confirming mineralization continuity at depth and expanding known zones. New mineralized areas were drilled at the A, Ellen, T, and 110 targets, while high-grade channel sampling at the A-Target led to follow-up drilling that returned strong intercepts. At the Bench Zone, two of the deepest holes to date intersected long runs of anomalous gold over several hundred metres. The program also validated historical results and confirmed the broader potential of the TMIC perimeter, laying the foundation for future targeting and expansion drilling.
Metallurgy
In Q3-2022, the Company submitted twelve (12) samples for preliminary metallurgical testing to evaluate potential processing options and metallurgical recovery rates of typical Tower Mountain mineralization. The samples were collected from representative half drill core from various grade bins. 5-10 centimetre pieces within each interval were sent for petrographic analyses and another small sample was collected from each metallurgical interval and submitted for whole rock geochemical analyses.
Gold grades ranged from 0.295 g/t to a high of 3.641 g/t and averaged 1.07 g/t Au.
Standard, bottle roll cyanide leach tests were completed on 2.0 kg charges. Each sample was crushed and pulverized 80% passing 75 µm. The samples were placed into a 40% by weight solution with 1.0 g/L NaCN and rolled for 72 hours.
The bottle roll tests indicated metallurgical recoveries ranging from 72.5% to 94.9% and averaged 86.8% for the twelve samples (REF. Figure 2.0 – Gold Leach Kinetics – Tower Mountain – 2022). The results suggest that the Tower Mountain mineralization is amenable to direct cyanidation recovery methods, that the mineralization is not refractory and recoveries in excess of 90% are likely achievable.
Figure 2.0 – Gold Leach Kinetics – Tower Mountain
The metallurgical testing included standard bond work index analyses which returned a value of ~ 20W (kWh/tonne).
The tailings from the bottle roll leach tests were tested for Acid Based Accounting and results indicate that the tailings are not acid generating returning an average Net Neutralization Potential of ~60.3 kg Ca CO3 equivalent per tonne indicating that the tailings are not acid generating.
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