Thunder Mountain Gold was originally founded in 1935 as Montgomery Mines in Spokane Washington. The company underwent resurgence as Thunder Mountain Gold in 1978 when the owners of the claims at Thunder Mountain containing the Sunnyside Deposit obtained Montgomery Mines, Inc., and gave it new life as Thunder Mountain Gold, Inc. in order to pursue production on the Thunder Mountain property in central Idaho.
Little-known fact: The Thunder Mountain Express at Disneyland is named and patterned after the historic Thunder Mountain Mining District.
The Thunder Mountain property was first put into production in the mid-1980’s by Coeur d’Alene Mines under a Net Profits agreement with Thunder Mountain Gold. It produced over 200,000 ounces of gold and 200,000 ounces of silver until the property was relinquished back to THMG and surface-reclaimed in the early 1990’s. It was at this time that the Company’s stock began trading on the Over-the-Counter Bulletin Board, and the Company became a fully reporting entity with the SEC.
Subsequently the property was leased to and explored by several other companies, including Kennecott and USMX/Dakota Mining. A joint venture between the Company and Dewey Mining unified the mining district during this period, and USMX/Dakota Mining expended approximately $4 million to explore the district and define a significant measured mineral resource on the Dewey property.
The Thunder Mountain property was sold and donated to the U.S. Forest Service in 2005, and the Cash received from the sale was reinvested, including the 2007 acquisition of South Mountain Mines from a private landowner.
The South Mountain Mine was first mined in the late 1800s. Mineralization consists of skarn-hosted polymetallic sulfide ore bodies hosted in a Paleozoic/Mesozoic carbonate unit. The principal metals at South Mountain are silver, zinc, lead, copper, and gold. In addition, the Company has identified a new large gold anomaly on the property. The property was mined underground while exploration was conducted during World War II, and smelter records for direct ship ore from the mine showed a total of 53,642 tons of ore containing zinc, lead, copper, silver and gold. Mining ceased when metals prices declined after the war in the early 1950’s. Additional gold properties in Idaho and Nevada and were acquired by the Company in 2007 and 2008, which have potential for large discoveries.