Great Thunder Acquires Additional Ground in Newfoundland
Vancouver, British Columbia--(Newsfile Corp. - June 9, 2021) - Great Thunder Gold Corp. (CSE: GTG) (OTC PINK: GTGFF) (FSE: M4KQ) ("Great Thunder" or the "Company") is pleased to announce it has entered into an option agreement to acquire 106 claims totaling 2,650 hectares located 40 kilometres ("km") northeast of Deer Lake, NL (Figure 1). The Wigwam Property (the "Property") belongs to Kevin and Allan Keats. Both are prominent Newfoundland prospectors whose names are borne by the high-grade gold deposit, the 'Keats Zone', currently undergoing a 200,000 metre drill program by New Found Gold (TSXV: NFG).
Figure 1. Regional location of the Wigwam Property.
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Under the terms of the option agreement, Great Thunder can acquire a 100% interest in the Wigwam claim group from the optionors by paying $150,000 and issuing 2,500,000 shares in four tranches over three years and granting a 3% net smelter returns royalty. The Company may repurchase half of the royalty at any time for $1,500,000. The Company will also pay a finder's fee of $4,500 and 75,000 shares in respect of the transaction. Access is deemed excellent through a network of logging roads.
Wigwam Claim Group
The Property lies along the Doucer's Valley Fault, a crustal scale fault zone that extends from the southwestern tip of Newfoundland 325km northeast to the Jackson's Arm-Sop's Arm mineral trend (Figure 2). The Rattling Brook Deposit located south of Jackson's Arm hosts resources of 255,000 ounces of gold at an average grade of 1.45 gpt Au. Historical exploration on the Wigwam property was for uranium in the early 1980's, however indications of extensive gold mineralization have been documented by government sponsored lake sediment sampling and coincident pristine gold grains in till samples collected by Altius Resources Inc between 2000 and 2003. Grab samples taken by Inco in 1989 returned gold values ranging from trace to 3.05 gpt Au and Westfield Minerals in 1979 had gold values ranging from trace to 17.89 gpt Au.
Figure 2. Wigwam property location along the Doucer's Valley Fault.
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Commentary from the CEO
Blair Naughty, CEO of Great Thunder states: "We are extremely pleased to have signed an option agreement with such prominent prospectors of Newfoundland, Alan and Kevin of the Keats family. The Wigwam property represents Great Thunder's expansion in the Newfoundland exploration and discovery boom. We are very excited to commence our initial field work on this well-situated project."
Qualified Person
Mr. Mike Kilbourne, P. Geo, an independent qualified person as defined in National Instrument 43-101, has reviewed, and approved the technical contents of this news release on behalf of the Company.
The QP has not completed sufficient work to verify the historic information on the Wigwam property particularly regarding historical exploration, neighbouring companies, and government geological work. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.
About Great Thunder Gold
Great Thunder Gold is a Canadian junior mining exploration company focused on mineral projects located in Quebec & Newfoundland, Canada.
On Behalf of the Board of Directors,
GREAT THUNDER GOLD CORP.
"Blair Naughty"
President & CEO
Investor Relations
Email: info@greatthundergold.com
Direct Line: (236) 513-4653
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement
This news release may contain certain "forward-looking statements". Forward-looking statements involve known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
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