Vancouver, British Columbia–(Newsfile Corp. – November 23, 2021) – Thunderstruck Resources Ltd. (TSXV: AWE) (The “Company”) is pleased to report the following updates on the exploration work being done on its prospects in Fiji.
“We are wrapping up an encouraging and active year of exploration on our high-grade Liwa gold/silver prospect. We have a great video recently taken from the camp; it really drives home the challenges of exploration in remote areas like Fiji,” stated Thunderstruck’s President/CEO Bryce Bradley. “Also, in addition to the work done on our Korokayiu copper/zinc property this year, a team has just been deployed to a third property, our Nakoro copper/zinc asset, to conduct a short mapping program on this promising high-grade VMS prospect. They’ll be in the field for about two weeks, while the other teams shut down the Liwa and Korokayiu camps in preparation for rainy season, which typically starts in December until April. This schedule provides adequate time to assess the results in preparation for the 2022 exploration season.”
The 2021 precious metals exploration program at Liwa, which included extensive surface sampling and a drilling campaign, has just been completed. Drilling has intersected zones of heavy sulphide mineralization accompanied by promising geological indicators such as silicification and banded veins at 100m downhole (Figure 1). Core samples from this year’s drilling program have been submitted to ALS Australia for assay.
Figure 1: Cut core samples from Liwa
Expansion of Mineralization
Mapping north of the current exploration zone has revealed a previously undiscovered expression of breccias and banded quartz veins seen elsewhere on the property (Fig.2). This indicates that hydrothermal activity was present over a much greater area than previously thought.
This region forms a 1km extension of the prospect and represents a roughly 50% increase of the total area of interest. The company hopes to reinforce these observations with the upcoming results of this seasons’ soil sampling program and will be using this data to plan its 2022 drilling campaign.
Surface sampling has uncovered a previously undiscovered outcrop of breccia with grades of up to 1.01 grams/tonne (g/t) gold (Au) and 22.3g/t silver (Ag) (Table 1). This new outcrop has allowed for structural measurements of the breccia to be taken and will greatly aid in targeting future drill programs.
Table 1: Significant Gold and Silver Outcrop Samples
|SAMPLE||Au (g/t)||Ag (g/t)|
Figure 2: Features discovered in the new target area indicative of epithermal activity. Left: Breccia with accompanying vein system. Right: Clay-sericite breccia
Soil sampling and portable x-ray fluorescence (pXRF) analysis at the Korokayiu Volcanogenic Massive Sulphide (VMS) prospect has now been completed and has highlighted several base and precious metals anomalies within the surveyed areas (Figure 3 and 4).
All six of the soil sample grids returned anomalous copper and zinc (+/- lead-silver) pXRF anomalies. The Kula 1 grid has proven to be the most promising, as it shows anomalous copper-zinc values over and 500 metres trend that is open off the grid to the east and west.
Soil and rock samples collected during 2021 were analyzed using pXRF, which benefits from being fast, convenient, and low-cost when compared to laboratory analysis. The results of pXRF soil and rock sampling are considered semi-quantitative. To verify the accuracy and precision of this data, select samples have been sent to ALS Australia.
Silver grades have been promising in soil samples, with grades of up to 21 g/t Ag. Copper and zinc grades have also been significant, with the pXRF analysis returning up to 0.41% Cu (Figure 3) and 0.96 % Zn (Figure 4) in soils. Of the six soil sampling grids, Kula 1 has proven to be the most promising, as it shows a good trend of Cu and Zn anomalies open towards the east and west. Additionally, pXRF analysis of crushed rock samples returned grades of up to 6.8% Zn, 0.94% Cu and 24.52 g/t Ag. These results coincide with prospective surface geology and will be targets for future infill sampling and drilling.
The company would like to remind readers that pXRF is a “first pass” analytical method that benefits from being fast, convenient, and low-cost when compared to laboratory analysis. To verify the accuracy and precision of this data, select samples have been sent to ALS Australia.
Following the positive results of the Korokayiu field program, the company will be carrying out a preparatory field campaign on its Nakoro VMS prospect. This will be a short campaign focused on ground-truthing historical data through mapping, grab sampling and structural measurements and analysis (Fig.5). This work will lay the foundation for further work in 2022.
Other Corporate News
Thunderstruck will be participating in the Mines and Money London show on Dec.1 & 2. This is a hybrid event and we will be participating on-line. Further details can be found on our website.
Thunderstruck’s AGM is on December 15, 2021. The meeting will be held via the Zoom meeting platform. In order to access the meeting, shareholders will have two options; via teleconference or through the Zoom application, which requires internet connectivity. Registered shareholders wishing to vote in person and any shareholders wishing to view materials that may be presented by management will need to utilize the Zoom application, but any shareholder may listen to the meeting via teleconference. Registered shareholders participating via teleconference will not be able to vote in person at the meeting as the Company’s scrutineer must take steps to verify the identity of registered shareholders using the video features. In order to dial into the meeting, shareholders will phone 1-778-907-2071 and enter the Meeting ID and Password noted below. In order to access the AGM through Zoom, shareholders will need to download the application onto their computer or smartphone and then once the application is loaded, enter the Meeting ID and Password below or open the following:
Shareholders will have the option through the application to join the video and audio or simply view and listen. Meeting ID: 822 0159 8842 Password: 056741 It is the shareholders responsibility to ensure connectivity during the meeting and the Company encourages its shareholders to allow sufficient time to log in to the AGM before it begins.
Stock Option Grant
The Company announces that it has granted an aggregate of 750,000 stock options to various directors and consultants, with each option being exercisable into one common share at a price of 0.08 cents per share for a period of 10 years.
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 1.00 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 cutoff. 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 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.”
Methodology and QA/QC
The analytical work reported on herein was performed by Australian Laboratory Services Pty. Ltd. (ALS) at Perth, WA. ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited geoanalytical laboratory and is independent of the Thunderstruck Resources and the QP.
Rock samples were subject to crushing with >85% passing 3.15mm and then pulverised to better than 85% passing minus 75 micron. Samples were then split using a riffle splitter. A 0.25 gram sample pulp was then subject to 4-acid (HF-HNO3-HClO4) digestion and analysis through a combination of ICP-AES & ICP-MS (ME-MS61) for most elements, including silver. A 30 gram fire assay fusion (Au-ICP22) was used for gold determination.
Portable X-Ray Fluorecence (pXRF) analysis was performed on dried soil samples through a clear plastic bag. Samples were not sieved or pressed. Regular calibration was performed, with blanks and standards being introduced into the analysis at regular intervals. Approximately 16% of samples will be submitted for confirmation analysis at ALS Australia.
Thunderstruck Resources follows industry standard procedures for the work carried out on the Liwa prospect, with a quality assurance/quality control (QA/QC) program. Blank, duplicate and standard samples were inserted into the sample sequence sent to the laboratory for analysis. Thunderstruck Resources detected no significant QA/QC issues during review of the data. Thunderstruck Resources is not aware of any sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data referred to herein.
For additional information, please contact:
Rob Christl, VP Business Development and Investor Relations
P: 778 840-7180
or, visit our website: http://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.