This page was created by Thunder Gold Corp. All statements about mineral resources refer to the January 19, 2026 NI 43-101 mineral resource estimate prepared by Micon International Limited. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
Gold mineral resource expansion
| Gold mineral resource expansion is the central part of the Tower Mountain investment case, because the current estimate covers only a small slice of a much larger intrusive system. Thunder Gold Corp (TSXV: TGOL | OTCQB: TGOLF | FSE: Z25) reports approximately 3.5 Moz at Tower Mountain and has stated a company target of 5 Moz by the end of 2026, backed by a 15,000 to 25,000 metre definition and expansion program. |
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Why Gold Mineral Resource Expansion Matters Here
The January 19, 2026 estimate by Micon International Limited reports 34.0 Mt Indicated at 0.46 g/t Au for 514,000 ounces and 211.1 Mt Inferred at 0.45 g/t Au for 3,053,000 ounces. Those figures are pit-constrained at a 0.19 g/t Au cut-off, using a specific gravity of 2.77 and US$3,000 per ounce gold. Crucially, they describe only about an 1,800 m by 500 m section of the intrusive contact, which leaves most of the system outside the current model.
Less Than 20 Percent of the System Has Been Tested
Tower Mountain surrounds the Tower Mountain Intrusive Complex, described by the Company as the largest exposed calc-alkalic intrusive complex in the eastern Shebandowan Greenstone Belt. Less than 20 percent of the complex perimeter has been drill tested, mostly along the western contact. The remaining 75 to 80 percent of the perimeter shows what the Company describes as identical geology, alteration and geophysical response, which is the geological basis for expecting more mineralisation rather than a one-off occurrence.
Magnetic Lows and CSC Alteration: The Exploration Vector
Gold at Tower Mountain is hosted in carbonate-sericite-chlorite alteration that extends more than 500 m west of the intrusive contact and remains open in that direction. The alteration destroyed magnetite, which produces broad magnetic lows that are visible in geophysical data and act as a map-scale vector towards prospective rock. Because pyrite correlates directly with gold grade, the combination of magnetic lows plus pyrite-bearing altered rock gives exploration teams a repeatable targeting method rather than a single anomaly.
P-Target: Statistical Parity 1,500 Metres East
The P-Target sits on the eastern contact, roughly 1,500 m east of the western drilling that supports the current estimate. Drilling there returned grades and interval lengths that the Company reports as statistically indistinguishable from the 235-hole, 47,000 metre western dataset. In plain terms, the eastern contact behaves like the western one, which supports the view that the mineralised system is larger than the footprint currently modelled.
The 2026 Drilling Program
The 2026 program is budgeted at 15,000 to 25,000 metres of infill and expansion drilling. It has two jobs.
- Infill drilling inside and immediately around the current pit shell, aimed at moving Inferred tonnes into the Indicated category.
- Step-out and exploration drilling on untested contacts and new targets, aimed at adding tonnes that are not currently in any category.
The Company is targeting an updated mineral resource estimate in the fourth quarter of 2026, with 1.5 Moz Indicated and 3.5 Moz Inferred as the stated objective, and an initial Preliminary Economic Assessment for late 2026 or early 2027.
Recent Intercepts Behind the Expansion Case
The 2026 newsflow has been dominated by long, low-grade intervals and the occasional very high-grade result, which is typical of this style of deposit.
| Reported result | Date |
|---|---|
| 661.5 m at 0.554 g/t Au | Aug 11, 2026 |
| 228.5 m at 0.557 g/t Au (TM21-107X) | Aug 17, 2026 |
| 404.5 m at 0.453 g/t Au, extension of TM23-137 | Sep 14, 2026 |
| 121.5 m at 0.376 g/t Au, 200 m east of the pit limit | Sep 17, 2026 |
| 409.5 m at 0.307 g/t Au incl. 111.0 m at 0.514 g/t Au | Sep 22, 2026 |
| 1.178 g/t Au over 102.0 m | Oct 19, 2026 |
| 0.407 g/t Au over 336.0 m and 0.527 g/t Au over 290.1 m | Oct 26, 2026 |
Older campaigns establish the same pattern: 941.0 g/t Au over 1.5 m in hole TM23-137 remains the highest grade ever reported at Tower Mountain, while 1.7 g/t Au over 250.4 m in TM23-139 and 5.9 g/t Au over 36.3 m in TM23-143 show the scale of the mineralised envelope. The 1.793 g/t Au over 45.0 m at the UV Target reported on July 16, 2026 added another distinct target to the list. Full campaign detail sits on the drill results page.
From 3.5 Moz Toward 5 Moz
Expansion at Tower Mountain rests on three levers: drilling density to upgrade Inferred tonnes, step-out drilling on untested contacts, and entirely new targets such as the A-Target, where 58 surface channel samples averaged 3.16 g/t Au across 20 m in the 2021 to 2022 program. The 2025 Phase Two campaign reported a 92 percent hit rate across 13 holes and 1,773 m, and an airborne magnetotellurics survey was awarded in October 2026 to help define new targets under cover. Discovery economics support the approach: drilling costs run about C$250 to C$275 per metre and the discovery cost to date is stated at C$3.95 per ounce. The project also benefits from a 1.8:1 strip ratio, well below several Canadian peers, with peer strip ratios ranging from 2.0:1 up to 7.4:1 and a reported strip-adjusted grade of 0.161 g/t Au against a peer range of 0.146 to 0.185 g/t Au.
What Could Slow the Expansion Case
Expansion is a target, not a promise. Resource growth depends on drilling reaching mineralised rock, on assay turnaround, on financing to fund multi-year programs, and on the outcomes of permitting and First Nation engagement in the traditional territories of Fort William First Nation. Step-out holes can also miss mineralisation entirely before a new target is properly understood, which is normal in exploration and is why single results are rarely decisive. Mineral resources are not mineral reserves and do not have demonstrated economic viability, and no Measured resources are reported. Investors should treat all 2026 and 2027 milestones as Company-stated targets. More detail is available on the Tower Mountain project page and in the NI 43-101 technical report.
This is general information about a mineral project and is not investment advice.
Frequently Asked Questions
Q: What is gold mineral resource expansion?
A: It is the process of adding ounces to a mineral resource estimate through infill drilling, step-out drilling on extensions, and drilling entirely new targets. At Tower Mountain the Company is targeting an updated estimate in the fourth quarter of 2026 with 1.5 Moz Indicated and 3.5 Moz Inferred.
Q: How much of the Tower Mountain system has been drill tested?
A: Less than 20 percent of the Tower Mountain Intrusive Complex perimeter has been drill tested, mostly along the western contact. The remaining 75 to 80 percent shows what the Company describes as identical geology, alteration and geophysical response, which is the stated basis for resource expansion.
Q: What is the P-Target and why does it matter for expansion?
A: The P-Target is on the eastern contact, roughly 1,500 m east of the western drilling supporting the current resource. Drilling there returned grades and interval lengths the Company reports as statistically indistinguishable from the 47,000 metre western dataset, supporting the case that mineralisation extends well beyond the modelled pit.
Q: What is the Company targeting for the next resource update?
A: Thunder Gold is targeting a fourth-quarter 2026 mineral resource estimate with 1.5 Moz Indicated and 3.5 Moz Inferred, alongside a company target of 5 Moz by the end of 2026. These are Company-stated targets and depend on drilling results, financing and further technical work.
Q: Does Tower Mountain have reserves or a mine plan?
A: No. Mineral resources are not mineral reserves and do not have demonstrated economic viability, and no Measured resources are reported. An initial Preliminary Economic Assessment, the first economic study, is targeted for late 2026 or early 2027, with pre-feasibility work beyond that.