Therma-Med Inc. Picks Up Option on Copper Property in Ontario
Published: Jul 29, 2011
TORONTO--(Marketwire - July 28, 2011) - Therma-Med, Inc. (PINKSHEETS: THRA) has negotiated an Option agreement to earn a 90% interest in The Hindon Copper Property situated in the Hindon Township in southern Ontario approximately 200 kilometers northeast of Toronto and 20 km north of the town of Minden. The northern boundary of the property lies along Ontario Highway 118 and an ATV trail allows access to the property. The property comprises 22 Units totaling 440 ha.
The property was considered to be of interest because of the identification of copper mineralization on an Ontario Geological Survey map of the area. Subsequent investigation of the Government of Ontario Mining Assessment Database indicated that the area of copper mineralization occurs in two zones; one in the west which is estimated to be more than 700 m long and one in the east over 200 m long. Previous prospecting and sampling work revealed an average of 2.82% Cu from 11 samples on over 700 meters from the west zone and 1.59% Cu on over 150 meters from 2 samples from the east zone. Importantly, previous performed work does not precisely delineate the overall width or length of the mineralized zone.
"Having a sizeable copper zone already exposed and with encouraging grades is a very rare opportunity that we just couldn't let pass by and allows us to get to the more advanced exploration stage quite quickly," states Zajay Trujillo. "The acquired property is an excellent addition to our B.C. properties and fits our objective to expand our property portfolio."
The Hindon Copper Property is thought to provide the Company with another quality target with resource potential that compliments its on-going development of the B.C. located properties.
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Therma-Med, Inc. with members of its management team as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.