Thunderstruck Commences Exploration at Liwa Gold/Silver Prospect
Vancouver, British Columbia--(Newsfile Corp. - July 22, 2021) - Thunderstruck Resources Ltd. (TSXV: AWE) (OTC Pink: THURF) ("Thunderstruck" or the "Company") is pleased to announce that it has initiated a comprehensive and expanded exploration program on its 100% owned Liwa gold/silver prospect in Fiji.
"The Liwa prospect is extremely exciting, with four major, coincident geochemical/geophysical anomalies extending over a three-kilometer strike length and featuring high-grade gold sampling results," noted Thunderstruck Chairman, Brien Lundin. "We've been biting at the bit to drill these targets, and look forward to what we'll find at depth on these anomalies."
The 2021 program includes mapping, geochemistry and a drilling campaign as detailed below.
1,500 meters of drilling is proposed for the 2021 season, across the four known targets. Drilling at the Jensen's and Liwa Ridge targets is to begin concurrently with a new sampling campaign focused on both existing prospects and prospective areas.
The orientation survey will consist of a series of sample stations over the known body of mineralization at the Liwa Ridge target, generating a better understanding of how anomalies related to mineralization are detected by different sampling techniques / methodologies.
Two 20m x 100m grids are proposed for the property. The first will encompass the proximal regions of the Liwa Ridge, Jensen's and Vatuvatulevu targets, whilst the second will focus on the Gun target in the north east.
These grids will be supported by more widely-spaced sample lines on the peripheries of the targets.
A continuation of the historically successful ridge and spur sampling campaign is planned in the southern and northern areas of the prospect. This will be accompanied by stream sediment and channel sampling at key points.
Three main areas have been recommended for further mapping in order to extend the known target structures and potentially add new ones:
- Upstream of Liwa Creek
- Upstream of Vatuvatulevu Creek
- Northern areas of the prospect along Matacile Creek and the Navua River
A review of the existing geochemical data is being undertaken with emphasis on historic rock samples. This review will attempt to geochemically vector the hydrothermal alteration and enhance the interpretation of alteration facies previously derived from mineral assemblages (See: https://www.thunderstruck.ca/index.php/news/2019/127-thunderstruck-samples-41-6-g-t-au-and-1-205-g-t-ag-at-liwa-creek-announces-results-from-academic-studies) .
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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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