Thunderstruck Resources Ltd. (TSXV:AWE) is pleased to announce that it is in the process of adding to its current portfolio of zinc, copper and gold exploration targets through applications for the Vago, CIS, Wainaleka Extension and SPL 1425 Extension areas.
Thunderstruck Resources Ltd. (TSXV:AWE) is pleased to announce that it is in the process of adding to its current portfolio of zinc, copper and gold exploration targets through applications for the Vago, CIS, Wainaleka Extension and SPL 1425 Extension areas. (See attached map.) The Vago prospect features historic drilling by Anglo with intercepts highlighted by 8% zinc, 9.7 g/t Au, 18.5 oz silver/tonne and 3% lead over 3.4 meters. The Wainaleka Extension area contains known copper-zinc mineralization to the west of the Company’s current high-grade zinc/copper deposit at Wainaleka.
“Given the discoveries by previous operators and the interest we’ve received from potential partners, we wish to put these assets under the control of Thunderstruck as quickly as possible,” notes Brien Lundin, Chairman. “With our growing knowledge of the area, we feel these new assets are among the most prospective on the main island.”
The Company is also pleased to announce it will retain the services of Melvyn Levrel, P. Geo, to assist in its exploration programs on the Rama Creek and Liwa Creek prospects. Stream sediment sampling (SSS) programs have been designed to follow up on the encouraging SSS results previously obtained by Aquitaine, Southern Pacific Resources (SPR) and Aljen Pacific for gold, zinc and gold-pathfinder elements (antimony and arsenic). Work will commence as soon after Easter as weather permits, although vehicular access to the prospect is now possible.
Thunderstruck’s team will collect approximately 100 stream sediment samples, as a first pass, for gold-silver analysis, after a cyanide leach with multi-element analysis (32 elements) having been carried out on sub-samples of each.
Detailed sampling will be carried out in Rama Creek, where SPR reported an outcropping, brecciated, silicified and pyritic porphyry carrying approximately 1 PPM gold.
This field program will require approximately 11 working days, depending on weather conditions. The results of this work will enable the Company to focus on the prime anomalous areas.
CEO Bryce Bradley comments, “We’re very pleased to add Mr. Levrel, a qualified field geologist with a M Sc. in Geoscience, to our technical team. Mr. Levrel has already begun the process of converting our vast library of data into GIS format. The result will be a detailed geological model from which to advance our exploration efforts. Mr. Levrel is based in the capital of Fiji, Suva, with ready access to the Mineral Resources Department and within 85 km of the Rama Creek prospect. Once he incorporates our Rama stream sediment data into GIS he will assist with field operations at Rama sometime in May, where previous SSS data has shown the potential for extensive gold-bearing zones.”
Rama Creek Exploration Program
Thunderstruck will be focussing this spring’s exploration program on Rama Creek, as newly acquired historical exploration data has indicated the potential for extensive gold mineralization in this area.
Fiji has been experiencing a particularly intense rainy season, (which generally runs November-April), with power outages and flooded roads. Due to this inclement weather, site tours have been postponed until the weather has improved and a new schedule can be agreed upon with potential JV partners and key investors.
The 2016 Q4 sampling program returned results consistent with expectations, and will be used to determine further exploration work and drill targets for its 2017 program.
Certain management and directors will be issued a total of 450,000 options carrying a strike price of $0.10 for a period of 10 years.
About Thunderstruck Resources
Thunderstruck Resources is a Canadian mining exploration company with highly prospective VMS and Precious Metals projects in Fiji. The Company provides investors with exposure to a diverse portfolio of assets rich in copper, zinc, silver and gold in a politically safe and stable jurisdiction. Thunderstruck trades on the Toronto Venture Exchange (TSX-V) under the symbol “AWE”.
For additional information, please contact:
Bryce Bradley, President, Chief Executive Officer and Director
Telephone: (604) 349-8119
Or visit our website: http://www.thunderstruck.ca
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. Specifically, there is no assurance the private placement will be closed on the terms set out above or at all or that) TSX Venture Exchange approval will be received. 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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