Thunder Mountain Gold, Inc. (TSXV: THM | OTCQB: THMG) has reported significant results from its 2026 core drilling program at the South Mountain Project in Owyhee County, Idaho. The program intersected new Carbonate Replacement Deposit (CRD) silver-zinc mineralization at Kentucky Ridge and confirmed porphyry-style intrusive rocks at two separate targets. The company completed 14 core holes totalling 2,670 metres, with assays received for nine holes and five holes — including all Birthday drillholes — still pending.

Key Points

  • Thunder Mountain Gold, Inc. (TSXV: THM | OTCQB: THMG)
  • New CRD mineralization intersected at Kentucky Ridge, approximately 250 metres northwest of the known CRD zone; two porphyry centres confirmed at Gold Breccia and Birthday targets
  • Hole SM26-062 returned 22.28 m grading 2.07% Zn and 9.00 g/t Ag, including 14.81 m at 2.98% Zn and 11.9 g/t Ag; Gold Breccia hole SM26-054 returned 55.17 m grading 0.112 g/t Au
  • Assay results for five holes, including all Birthday drillholes, remain pending; surface work continues through end of the 2026 field season

Kentucky Ridge Step-Out Extends CRD Footprint at South Mountain

Step-out hole SM26-062 at Kentucky Ridge intersected 22.28 metres grading 2.07% zinc and 9.00 g/t silver, including a higher-grade interval of 14.81 metres at 2.98% zinc and 11.9 g/t silver. The intercept sits approximately 25 metres down-plunge from a surface gossan that previously channel-sampled 7.6 metres at 125 g/t silver, 1.2% lead, and 1.7% zinc. Company geologists interpret the new intercept as the possible upper expression of a separate CRD body located roughly 250 metres from the known 800-metre zone. A follow-up hole, SM26-063, tested beneath this intercept and its assays remain pending.

DMEA Zone Mineralization Extended Up-Dip Toward Surface

Hole SM26-060, targeting the established DMEA Zone within the known CRD area, returned 2.38 metres grading 29.2 g/t silver and 0.455 g/t gold. Combined with previously reported holes SM26-055, -056, and -057, these results extend DMEA Zone mineralization up-dip toward surface, according to the release. Southeast step-out holes SM26-058 and -059 encountered intensely altered Laxey Marble and a felsic dike with sericite and pyrite alteration, returning elevated silver values. The company has invested over US$25 million in South Mountain since acquiring it in 2007.

Porphyry Centres Identified at Gold Breccia and Birthday Targets

At Gold Breccia, hole SM26-054 returned 55.17 metres grading 0.112 g/t gold from surface, including 3.0 metres at 0.657 g/t gold within a heterolithic igneous and hydrothermal breccia. At the Birthday target, holes SM26-065 and -067 cut five porphyry intrusive phases with intense sericite alteration and pyrite-biotite veinlets beneath a thin basalt cover. Company geologists characterise the alteration as potentially quartz-sericite-pyrite style, which is associated with mineralised porphyry systems. All Birthday assay results are pending. The company also granted newly appointed director Ron Clayton 400,000 stock options exercisable at $0.75 per share until October 14, 2031.

Surface Programs Support Targeting for Planned 2027 Drill Program

Surface work at South Mountain continues through the end of the 2026 field season. Durango Geophysical Operations is running Induced Polarization orientation lines over gossan outcrops to calibrate survey lines along covered, untested portions of the Laxey Marble. The company is also expanding its soil sampling grid over geophysically identified targets and conducting ongoing geological mapping to document structural and stratigraphic controls on CRD and porphyry-style mineralisation. The company states its focus remains establishing the size of the CRD massive sulfide system and identifying which porphyry centre may be its source.