Thunderstruck Resources Ltd. (TSXV:AWE) is a Canadian junior mining company with its operations based on the island of Fiji. While not considered a mining jurisdiction, Fiji has hosted a mining industry for a full century, and the nation has a number of highly prospective geological formations. Thunderstruck has identified and acquired three exciting prospects on … Continued
Thunderstruck Resources Ltd. (TSXV:AWE) is a Canadian junior mining company with its operations based on the island of Fiji. While not considered a mining jurisdiction, Fiji has hosted a mining industry for a full century, and the nation has a number of highly prospective geological formations.
Thunderstruck has identified and acquired three exciting prospects on the island: the Liwa Creek Gold property, and two VMS projects, Nakoro and Wainaleka. Altogether, the land packages comprise roughly 4% of Fiji’s main island. Previously, Anglo American spent approximately $10 million (CAD) exploring these properties, providing AWE with a considerable volume of historical data to aid the Company in planning its exploration.
Thunderstruck recently raised $400,000 (CAD) and plans to use these funds to initiate exploration. Planned work includes sampling, mapping, and trenching at Liwa, Rama, and Nakoro. Stockhouse Publishing recently had the opportunity to delve into the Company’s operations through an interview with CEO, Bryce Bradley.
1| Why should anyone consider investing in Thunderstruck at this time?
Thunderstruck has purchased a large and highly prospective land package of high-grade zinc, copper, gold and silver exploration assets in Fiji. We negotiated our deal at the bottom of the market, on very favourable terms. We’ve purchased two proven, high-grade zinc/copper discoveries, as well as a copper porphyry target and a gold epithermal target, complete with drill data and core.
Anglo American spent approximately Cdn$10 million in today’s dollars drilling these assets in the 1970s. Anglo returned high-grade intercepts that averaged 7% zinc and 1%-2% copper over mineable widths. With a market cap of only Cdn$2.5 million, Thunderstruck affords investors an early entry point into these discoveries, plus the potential that lies ahead.
2| What sets Thunderstruck apart from the competition?
Thunderstruck successfully navigated the lengthy resource sector bear market and emerged with a very tight share structure of just 31 million shares outstanding. Additionally, the Company also took advantage of the battered resource sector to acquire our suite of Fijian assets for a small fraction of the money Anglo spent in their exploration programs. With improved market conditions, a recent increase in commodity prices and the new momentum surrounding exploration, Thunderstruck is poised to capitalize on the fresh market interest.
3| Why Fiji? What are the pros and cons of doing mineral exploration there?
Admittedly, mining isn’t the first thing that comes to mind when you think of Fiji. We looked at dozens of projects worldwide, but jumped on these assets because their technical merits couldn’t be ignored. Once we confirmed their potential, we looked into Fiji itself, and discovered that it is a very mining-friendly, stable jurisdiction with a long history of exploration. The proximity to China and Japan has attracted considerable investment from those countries, as well as Australia.
From a geological standpoint, Fiji is located on the Pacific Ocean’s Ring of Fire, which hosts some of the most prolific mines in the world, and it is argued that Fiji is one of the last under-explored countries on this key feature. Since the island’s potential was discovered early last century, it has attracted more and more global investment, such that the country now offers all the infrastructure necessary for mining operations, such as a deep-water port, paved roads and hydro-electric power.
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