Thunderstruck to Commence Drilling at Its Gold and Copper Projects in Fiji
Vancouver, British Columbia--(Newsfile Corp. - August 6, 2020) - Thunderstruck Resources Ltd. (TSXV: AWE) (OTC: THURF) ("Thunderstruck" or "the Company") is pleased to announce that two sea containers have arrived at port in Fiji containing two drill rigs and other equipment intended for coincidental drill programs at the Company's Liwa Creek gold asset and its Korokayiu zinc/copper asset. The company is also pleased to report that Lloyd Gale, who will be in charge of in-country drilling has also arrived safely in country.
"We would like to thank the Fijian government for creating a special travel exemption and Covid-19 quarantine program to allow the company's drill team to safely enter Fiji," commented Thunderstruck President and CEO Bryce Bradley. "This exemption shows the country's commitment to exploration and development having successfully eradicated Covid-19 through stringent travel restrictions. We could not be happier to work amongst the hard-working people of Fiji."
Each Thunderstruck employee will be required to quarantine for 14 days in a government supervised hotel to ensure compliance. Once this quarantine period has been satisfied the drill team will be deployed to site and drilling will commence. Drills are expected to begin turning by the end of August.
Viti Levu, the main island of Fiji, has a long mining history. It is on the prolific Pacific Ring of Fire, a trend that has produced numerous large deposits, including Porgera, Lihir and Grasberg. The island of Viti Levu hosts Namosi, held by a joint venture between Newcrest and Mitsubishi. Newcrest published Proven and Probable Reserves for Namosi of 1.3 billion tonnes at 0.37% Cu and 0.12 g/t Au (5.2M ounces Au and 4.9M tonnes Cu). Namosi is now undergoing environmental assessment as part of the permitting process. Lion One Metals is now developing its Tuvatu Project, with Indicated Resources of 1.1 million tonnes at 8.17 g/t Au (294,000 ounces Au), and Inferred Resources of 1.3 million tonnes at 10.6 g/t Au (445,000 ounces Au). The Vatukoula Gold Mine has been operating for 80 years, producing in excess of 7 million ounces.
About Thunderstruck Resources
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 VMS, 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".
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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.
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