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Thunder Mountain Gold Signs Agreement for Trout Creek Project, Nevada

Thunder Mountain Gold has signed a strategic agreement with Newmont Mining to develop the Trout Creek Project in Lander County, Nevada. 

The private mineral package of Newmont consists of approximately 9,565 acres along with 60 unpatented mining claims purchased in 2007, due to which the Trout Creek Project has been extended considerably. The area of exploration is located at Eureka-Battle Mountain trend in the Reese River Valley to the east of Newmont’s Phoenix Mine and Cove-McCoy Mines.

Under the agreement, the data package offers additional geophysical information with encouraging geochemical and drill statistics from Newmont’s prior exploration projects. Newmont data package has been inferred by Jim Wright of Wright Geophysics and advocates developing  the initial target through additional geophysical work.

The company will be performing the exploration and is required to spend a minimum of $150,000 in the next two years. Drilling is carried out on Newmont lands, but the company can  terminated of the agreement after the minimum expense commitment has been drafted. The Agreement summarizes the joint venture terms that is if Newmont can earn  up to 70% of the project by spending 150% of the Company's expenses and decides to make a joint venture. The company can attain Newmont’s property, if it describes economic mineralization and Newmont rejects joint venture. Newmont will hold 3% of net smelter returns (NSR) as royalty interest.

The company plans to perform additional geophysical work for 2011 and 2012, which will identify significant structural trends below gravels, depth to bedrock. Newmont will offer geochemical, geophysics and drill data interpretation for drilling.

Joel Scanlon

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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