Thunderstruck Awards Drilling Contract
Outlines Detailed, Drill-Ready Targets at Liwa
Vancouver, British Columbia--(Newsfile Corp. - April 25, 2022) - Thunderstruck Resources Ltd. (TSXV: AWE) ("Thunderstruck" or the "Company") is pleased to announce its intention to drill multiple high priority targets at its Liwa gold/silver prospect in Fiji. With the signing of a long-term drilling contract, drilling is set to commence in early Q3 2022. The company has outlined a seven-hole drill program designed to test the validity at depth of geophysical anomalies corresponding with surface mineralization.
"Our extensive, first-phase diamond drill program at Liwa this season is the culmination of years of work and geological study. It has been designed to most accurately test the significant surface geochemical and sub-surface geophysical anomalies that have made Liwa such an exciting prospect," noted President/CEO Bryce Bradley. "We can't thank our new and longstanding shareholders enough for remaining supportive through both natural disasters and the global turmoil that has lengthened this exciting journey."
The technical team hopes to intersect the geological features representing the source of mineralization by testing both the heart and periphery of the geophysical anomalies beneath defined surface mineralization. Each of the seven holes will offer valuable data to direct a continuous program of drilling with each hole more informed than the last.
Drilling has been designed to focus on four outcropping, gold-bearing hydrothermal breccia areas at Liwa, including Liwa Ridge, Jensen's, Vatuvatulevu (Vatu) and Gun. The information below is intended to educate and offer insight into the technical thought process behind each drill location and encourage shareholders to be active participants as the company grows.
|Proposed Diamond Drilling (LIWA)|
|Proposed Hole ID||Prospect||Proposed Depth||Details|
|Liwa 1A||Liwa Ridge||300||Testing strong surface gold anomaly (71.3m @ 0.61g/t Au) and significant IP geophysical anomaly|
|Liwa 1B||Liwa Ridge||300||Fanned drillhole using same pad as Liwa 1A|
|Liwa 2||Liwa Ridge||300||Testing strong surface gold anomaly (71.3m @ 0.61g/t Au) and significant geophysical IP anomaly|
|Liwa 3||Jensen's||300||Testing the highly prospective geology of the discovery outcrop, strong surface gold anomalies and significant geophysical anomaly below surface|
|Liwa 4||Vatu||300||Testing the large zone of geochemical and geophysical anomalies that has returned grades of up to 41 g/t Au and 1205 g/t Ag|
|Liwa 6||Gun||300||Testing strong surface geochemical anomalies and outcrops of highly prospective geology|
Furthermore, the following images provide a topical view of each target and proposed drill hole, as well as various sections outlining the intended at-depth targets of the campaign.
To view an enhanced version of Figure 1, please visit:
Using this data, the company undertook a preliminary IP survey over each target to outline chargeable and resistive anomalies below surface, with intriguing initial results defining multiple target areas at similar target depths.
To view an enhanced version of Figure 2, please visit:
The above targeting was solidified by a property-wide 2021 soil sampling campaign at Liwa consisting of 1,400 soil samples covering a total of 11 square km. This systematic gridded survey, as opposed to the previous ridge-and-spur survey, confirmed priority targets and further defined the size and shape of surface targets. The survey returned values of up to 9.62 g/t Au and 48.8 g/t silver allowing for the following conclusions:
- Liwa Ridge target continues to be the most prospective identified to date, with high-value, continuous gold anomalies in soils.
- The anomaly at Vatu has been defined as a much more north/south-orientated structure than previous data defined, allowing for adjusted targeting for 2022 drilling.
- The gridded sampling program has allowed the company to significantly develop its knowledge of the anomaly at Gun. It is possible that the geological feature that causes this gold anomaly splits into two or is two separate structures.
- Ridge sampling in the far southern and northern areas of Liwa recognized gold anomalies that warrant further investigation during the 2022 season.
- The results reinforce the notion that there is a significant silver content in the system that will likely play an important role in the future value of the Liwa prospect.
In addition, the company continues to systematically evaluate near-term drill targets at its Nakoro zinc/copper prospect, Rama (copper/gold), and Korokayiu, with more information expected to be provided in the coming months.
Fiji is on the Pacific Ring Of Fire, a prolific trend that has produced numerous large gold and copper deposits, including Porgera, Lihir and Grasberg.
Viti Levu, the main island of Fiji, has a long mining history. It hosts not only the Thunderstruck tenements, but also the following active projects:
Namosi (Copper/Gold) Newcrest published proven and probable reserves of 1.3 billion tonnes at 0.37%Cu and 0.12g/t Au (5.2M ounces Au and 4.9M tonnes Cu).
Tuvatu (Gold) Indicated Resources of 1 million tonnes at 8.48 g/t Au (274,600 ounces Au), and Inferred Resources of 1.33 million tonnes at 9.0 g/t Au (384,000 ounces Au) reported at a 3.0 g/t Au lower cut-off.
Vatukoula Gold Mines: Formerly known as the Emperor Gold Mine has been operating for over 80 years, producing in excess of 7 million ounces of Au to date.
Thunderstruck Resources is a Canadian mineral exploration company that has assembled extensive and highly prospective properties in Fiji on which recent and previous exploration has confirmed zinc, copper and precious metals mineralization. The Company provides investors with exposure to a diverse portfolio of exploration stage projects with potential for zinc, copper, gold and silver in a politically safe and stable jurisdiction. Thunderstruck trades on the Toronto Venture Exchange (TSX-V) under the symbol "AWE" and United States OTC under the symbol "THURF."
Qualified Person Statement
The technical information in this news release was reviewed by Peter Duerden, RPGeo, an advisor to Thunderstruck Resources, and a qualified person as defined by National Instrument 43-101 (NI 43-101).
For additional information, please contact:
Rob Christl, VP Business Development and Investor Relations
P: 1-778 840-7180
Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements that may be deemed "forward-looking statements". Although Thunderstruck believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Thunderstruck's management on the date the statements are made. Except as required by law, Thunderstruck undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/121538