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Thunderstruck Resources Ltd. (TSXV: AWE) (OTC: THURF) ("Thunderstruck" or the "Company") is pleased to announce results from its Induced Polarization (IP) geophysical survey conducted by Japan's Mitsui Mineral Development Engineering Co. (MINDECO) at its Korokayiu ZincCopper project in Fiji. The results of the program have delineated multiple encouraging conductive anomalies over a 1.5 kilometer corridor.
"The ability to overlay geophysics on current data has been an exciting process to say the least. Our MINDECO technical team and JV partner Japan Oil, Gas and Metals National Corporation (JOGMEC) believe this IP could be the key to unlocking substantial value at Korokayiu," commented Thunderstruck CEO Bryce Bradley. "Having JOGMEC fund this third year of exploration is a strong signal of the potential they see at Korokayiu and we can't be more pleased to be on this discovery journey together."
The Company has completed a total of 6 line-kilometers of an ongoing pole-dipole IP ground geophysics survey designed to test both conductivity and resistivity. The program, comprised of 4 lines run both parallel and perpendicular to the mineralized VMS lens at Korokayiu should provide a 3-dimensional view below surface and support future drill targeting. Initial review has highlighted prospective areas both to the southwest and northeast of the discovery outcrop and is coincident with known soil/rock samples, and drill results.
Further, results of the survey have complemented the physical property studies on 43 core samples at Korokayiu which outlined resistivity as a key identifying feature of massive sulphides which predictably provide a resistivity response of less than 50 Ohms. An additional 4 IP line-kilometers are scheduled to begin in June 2021.
In addition, the resistivity and chargeability anomalies have been shown to extend at least 175 meters south-west along strike from the discovery outcrop. Line04 (figure 1) is perpendicular to the strike along a favourable horizon 175 meters south-west of the discovery outcrop and displays resistivity and chargeability features coincident with the strike and dip of mineralized horizons intersected in 2019 drilling highlighted by intercept 6.3 m grading 14.5% zinc (Zn) (see press release dated December 11, 2019).
Figure 1: Line04 is perpendicular to strike of the mineralized horizons, showing its intersection with Line09. The wave line represents the boundary between the hanging and foot walls.
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Resistivity anomalies have also been identified in preliminary IP surveys proximal to the recent drill hole WLK19A, which intersected 2.97 % Zinc (Zn) and 26.6 grams-per-tonne Silver (g/t Ag), over a drill core interval of 5.42 meters (see press release dated February 18, 2021). Resistivity anomalies are between stations 1275 and 2000 of strike parallel Line 09, 300 to 700 meters north-east along strike from the discovery outcrop (figure 2).
Line07 also highlights moderate chargeability features at depth, 2500 meters northeast along strike from the discovery outcrop (figure 3).
Figure 2: Korokayiu IP survey results from Line09B run perpendicular to strike and extend east of the discovery outcrop. Resistivity anomalies are between stations 1275 and 2000 of strike parallel Line09, 300 to 700 meters north-east along strike from the discovery outcrop.
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Figure 3 Korokayiu IP survey results from Line07 which was run approximately 1 kilometer in length and perpendicular strike direction 2500 meters north east of the discovery outcrop.
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About JOGMEC
JOGMEC (Japan Oil, Gas and Metals National Corporation) seeks to ensure a stable supply of metal resources that are indispensable for their industries, and contributes to a wide range of fields including surveying, exploration, development, production and stockpiling to recycling and environmental protection.
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, VP Business Development and 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/80135