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Thunderstruck Resources Ltd. (TSXV: AWE) ("Thunderstruck" or the "Company") is pleased to announce the recent commencement of the 2022 drill program in Fiji.
"The drill is turning!" said Bryce Bradley, President and CEO. "Nearly five decades after the discovery of these gold-silver targets, they are finally being drilled. We are excited that the team has successfully mobilized to Liwa with a custom made drill fit for Fiji's unique terrain, and we'll be working hard to complete the program and get assays to market."
The company has hired Valentis, a highly reputable Southeast Asian mineral exploration and drilling company to complete this phase of drilling and train local workers to support.
Further to our press release dated April 25, 2022, the planned drilling program is comprised of an initial five drill holes for 1,500 meters and is designed to test several well-defined epithermal gold-silver targets extending over a three-kilometer strike length, including:
- Liwa Ridge: defined by a wide zone of gold-silver anomalism at surface, including, 71.3m at 0.61g/t Au (trench) and up to 11.1 g/t Au and 109 g/t in rock chips with coincident resistivity and chargeability geophysical anomalism modelled at depth
- Vatuvatulevu: defined by a 150-meter-wide zone of gold-silver anomalism at surface, including up to 2.48 ppm Au in soils, 41.6 g/t Au and 1,205 g/t Ag in rock chips with coincident resistivity and chargeability geophysical anomalism modelled at depth
- Jensens: defined by multiple zones of gold-silver anomalism at surface, including, 7 meters at 5.7 g/t Au (trench) and up to 55.2 g/t Au in rock chips with coincident resistivity and chargeability geophysical anomalism modelled at depth
Figure 1: Photo of diamond rig operating at the Vatuvatulevu Prospect, Liwa Project
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Figure 2: Summary map of the Liwa Project
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About Valentis
Valentis is the leading exploration, mining services and advisory company in Southeast Asia, with extensive experience and success in developing opportunities and maximizing value for local and international companies undertaking exploration and mining activities in resource-rich Southeast Asia.
For more information, visit their website here.
About Fiji
Fiji is on the Pacific Ring Of Fire, a prolific trend that has produced numerous large gold and copper deposits, including Porgera, Lihir and Grasberg.
Viti Levu, the main island of Fiji, has a long mining history. It hosts not only the Thunderstruck tenements, but also the following active projects:
Namosi (Copper/Gold) Newcrest published proven and probable reserves of 1.3 billion tonnes at 0.37%Cu and 0.12g/t Au (5.2M ounces Au and 4.9M tonnes Cu).
Tuvatu (Gold) Indicated Resources of 1 million tonnes at 8.48 g/t Au (274,600 ounces Au), and Inferred Resources of 1.33 million tonnes at 9.0 g/t Au (384,000 ounces Au) reported at a 3.0 g/t Au lower cut-off.
Vatukoula Gold Mines: Formerly known as the Emperor Gold Mine has been operating for over 80 years, producing in excess of 7 million ounces of Au to date.
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 zinc, 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."
Qualified Person Statement
The technical information in this news release was reviewed by Peter Duerden, RPGeo, Technical Advisor to Thunderstruck Resources, and a qualified person as defined by National Instrument 43-101 (NI 43-101).
For additional information, please contact:
Rob Christl, VP Business Development and Investor Relations
Email: rob@thunderstruck.ca
P: 1-778 840-7180
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/137170
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