Thunderstruck Mobilizing Drills to Liwa Creek Gold Property and Provides Corporate Update
Vancouver, British Columbia--(Newsfile Corp. - October 28, 2020) - Thunderstruck Resources Ltd. (TSXV: AWE) (OTC: THURF ("Thunderstruck" or the "Company") is pleased to announce that it has completed road construction to Liwa Creek and will be mobilizing drills next week to begin its maiden drill program.
"We are very excited to shortly begin drilling at Liwa and I am pleased to have relocated to Fiji to oversee this exciting new phase of the company's life cycle." commented Thunderstruck CEO Bryce Bradley. "The team has been working hard to clear over 15km of access roads to construct drill pads and get the drills to site, meaning news flow will be plentiful in the leadup to the new year and beyond," she continued.
Liwa Creek Gold features five high grade gold prospects which have been identified over an approximately 3km northeast-southwest oriented structural corridor. This campaign marks the first time that Liwa Creek gold prospect has been drilled following up on surface samples as high as 55g/t Au, 1205g/t Ag and trenching of 1.2g/t over 26.5m.
Despite Fiji's borders being closed, Ms. Bradley was given approval to enter on October 17, 2020 through a travel exemption under the Significant Economic Value category given by Fiji's COVID Risk Mitigation Taskforce, as mineral exploration is deemed an essential service. She is currently completing a 14-day COVID-19 quarantine period, held in a military guarded government facility. The sanctioned quarantine is in accordance with Fijian government policy and is expected to end on October 31, 2020. Due to these stringent entrance requirements, Fiji has been able to eradicate COVID and as such, does not need to adhere to social distancing and mask protocols.
To aid in the Company's expansive exploration programs, Thunderstruck would like to welcome Prinas Chand, a Fijian National with in-country experience managing a range of activities including core logging, mapping, sampling, data analytics, digitization and geological interpretation.
"We're very pleased to have Ms. Chand join the Thunderstruck exploration team." stated Bradley, "We have always been of the mindset that having local Fijian geologists, like Ms. Chand, will be key to making new in-country discoveries and in turn the prolonged success of the company. We fully believe in the vast opportunity that is Fiji and remain of the mindset that we have merely scratched the surface when it comes to its potential."
Further, the Company continues to evaluate additional portfolio acquisitions in Fiji as it looks to show the district scale potential of the island. The Company will update shareholders when and if discussions and review processes culminate into concrete agreements.
Lastly, the Company will be hosting its AGM virtually on Tuesday, November 10th, 2020. You can join by using the link here.
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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