Thunderstruck's Exploration Contract Awarded to Leading Japanese Company; Budget Increased
Vancouver, British Columbia--(Newsfile Corp. - September 29, 2020) - Thunderstruck Resources Ltd. (TSXV: AWE) (OTC: THURF) ("Thunderstruck" or "the Company") is pleased to announce that Mitsui Mineral Development Engineering Co. Ltd. ("MINDECO") has been chosen to lead the Company's on-going exploration program at its Korokayiu zinc/copper VMS project in Fiji.
Thunderstruck undertook a review process which considered several leading Japanese companies before awarding the contract to MINDECO.
MINDECO is the research and development division of Mitsui Mining and Smelting, a leading Japanese company with a 140-year history of metals mining, processing and fabrication. This new relationship with MINDECO provides the Company with a breadth of expertise ranging from mineral exploration to mine development.
"We are pleased to welcome MINDECO to our hard-working team," stated Bryce Bradley, Thunderstruck's President and CEO. "With the technical expertise of MINDECO, we look forward to continuing to build on the foundation we have created at Korokayiu to further advance the asset and bring value to shareholders and the country of Fiji."
Thunderstruck's joint venture partner Japan Oil, Gas and Metals National Corporation (JOGMEC), has increased the budget for the current phase of the exploration program from CDN$1,300,000 to $1,650,000, in part to expand the drill program. The drill program is proceeding well, with the second hole near completion.
The Thunderstruck and MINDECO teams have commenced preparations for an initial 10km Induced Polarization Survey designed to delineate further drill targets.
About Mitsui Mineral Development Engineering Co. Ltd. (MINDECO)
MINDECO provides comprehensive mineral exploration services covering geological, geochemical, and geophysical surveys and drilling for natural resources. Through private sector and international cooperative projects, MINDECO has been involved with the surveying and development of non-ferrous metal and water resources in Japan, Central and South America, Southeast and Central Asia, and numerous African countries.
Utilizing their years of experience and expertise in resource projects, MINDECO provides advice for formulating mining promotion measures, proposals for mining master plans, and support for mining promotion that gives appropriate consideration to the environment.
JOGMEC (Japan Oil, Gas and Metals National Corporation) seeks to ensure a stable supply of metal resources that are indispensable for Japanese industries. To achieve that objective, they contribute financial and technical resources to exploration, development, production and other measures intended to provide a long-term supply of key metals.
To learn more about Fiji's rich mineral history please click here.
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".
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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