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Thunderstruck Resources Ltd. (TSXV:AWE) announced today an update on its exploration program at its Nakoro project in Fiji.
Thunderstruck Resources Ltd. (TSXV:AWE) announced today an update on its exploration program at its Nakoro project in Fiji.
Thunderstruck’s CEO and President, Bryce Bradley, stated:
The mineral exploration industry has been enduring an unrelenting bear market like never witnessed before. Many good companies have been forced to sell off assets, lie dormant or have blown up their share structure by raising capital at highly dilutive share prices, and many have gone completely under.
Thunderstruck has thus far been fortunate, financing strategically and conservatively in order to maintain an impressively tight share structure with only 20.8m shares outstanding. Equally as impressive, our quality team on the ground has advanced one of our flagship assets, Nakoro, on a shoe-string budget. Over the summer a 2.5km access road was bulldozed to the site of previous drilling by Anglo American that returned mine-able widths of historic grades up to 12% zinc and 2% copper.
Along the access road to Nakoro Village, outcropping zinc mineralization has been discovered, with samples being sent to Perth for analysis. Positive results from this sampling would significantly expand the size of our Nakoro zinc/copper target. The team is currently conducting stream sediment sampling and mapping in order to define the limits of the base metal mineralization, and drill sites for Thunderstruck’s impending drill program are being planned.
The Company has opted to conduct an inexpensive and efficient 250-meter drill program using a man-portable Winkie drill that is owned by Thunderstruck in Fiji. The drilling will focus on five key step-out holes that, if successful, could considerably extend the size of the target. Results from this drilling, road mapping, outcrop sampling and detailed stream sediment sampling will provide a much enhanced base for defining follow-up exploration with larger drill rigs.
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