The Conversation (0)
Thunderstruck Resources Ltd. (TSXV: AWE) (OTC: THURF) "Thunderstruck" or "the Company") is pleased to announce that drilling has begun on its Korokayiu zinccopper VMS project in Fiji. This season's drill program will expand on the high-grade results from the 2019 program at Korokayiu, which prompted the Company to expand its holdings from 30 to 136 square kilometres.
Highlight intercepts from the 2019 program include:
- 2.77 m @ 21.6% zinc, 2.0% copper, 81 g/t silver and 0.42 g/t gold (Hole WLK16A)
- 11 m @ 13.8% zinc, 2.94% copper, 114 g/t silver and 1.08 g/t gold (Hole WLK17)
- 6.31 m @ 14.5% zinc, 2.35% copper, 111 g/t silver, and 0.66 g/t gold (Hole WLK14B)
The Company, in partnership with Japan Oil, Gas and Metals National Corporation (JOGMEC), has commenced a minimum 1,500-meter program Korokayui and will be completely funded by JOGMEC.
"We are excited that the drills have begun turning to follow up on last year's extraordinary drill results," stated Thunderstruck President and CEO, Bryce Bradley. "This is the beginning of what will be a very news heavy period for Thunderstruck shareholders with both Korokayiu and Liwa exploration programs expected to be underway at the same time."
In addition to drilling, the Company's 2020 exploration program includes mapping, geochemistry and a ~10-kilometre Induced Polarization geophysical survey designed to better define targets along a 15-kilometre mapped and mineralized structure (see news release May 21, 2020).
Liwa Creek Gold Update
At Liwa, the Company will shortly begin its maiden drill program on its Liwa gold prospect. Access roads have reached the Liwa camp and the first drill site. The company plans to mobilize a drill rig to site shortly.
Liwa is characterized by five highly prospective gold/silver anomalies extending over a three-kilometre strike length and remains open in all directions. It has been the focus of sporadic work over the last four decades, and Thunderstruck's arrival marks the first systematic exploration program done on the property (see news release June 8, 2020)
Environment Officer
The Company welcomes Miliana Navia as its new Environment Officer. Ms. Navia holds a Masters in Environmental Science from Hokkaido University in Japan. Prior to joining the Company, Ms. Navia worked as an Environment Officer for the Fijian Ministry of Environment where she oversaw a multitude of environmental work programs and initiatives.
In her new role, Ms. Navia will oversee and maintain the highest standards of environmental responsibility as laid out in the Company's Environment Management Plan (EMP). This includes:
- Generating preliminary baseline data on physical parameters of water quality (physical and chemical)
- Road rehabilitation and maintenance
- Waste management and permitting
- Monitoring of water quality
- Drill site rehabilitations
- Data collection through tenement inspection and observations to monitor environmental impacts from exploration activities
Ms. Navia will ensure compliance under the Mining Act, Environmental Management Act, and other relevant legislation and code of conduct related to exploration in Fiji. She will liaise and regularly consult with local landowners to keep them informed of the tenement progress. Her role will continue to strengthen the valuable relationships the team has built in country.
"Thunderstruck is committed to implementing environmental and social awareness programs that exceed Fijian and International guidelines," commented Bradley, "We believe in Ms. Navia's ability to facilitate these objectives."
Warrant Extension
Thunderstruck has received approval from the TSX Venture Exchange to extend 9,677,500 15c warrants which were due to expire September 6, 2020. The new expiry date has been extended to September 6, 2022.
About Fiji
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".
For additional information, please contact:
Rob Christl, Investor Relations
Email: rob@thunderstruck.ca
P: 778 840-7180
or, visit our website: https://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. 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/63457
copyright (c) newsfile corp. 2020