Great Thunder Acquires Ground in Newfoundland
Vancouver, British Columbia--(Newsfile Corp. - June 3, 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 197 claims totaling 4,925 hectares located 45 kilometres ("km") northeast of Gander, NL (Figure 1). The GRUB and Bursey's Properties (the "Property") lie along the GRUB line, a crustal scale structural corridor believed to be one of the major fluid conduits related to the Gander Gold belt and New Found Gold's "Keats Zone" hosting bonanza high-grade gold mineralization.
Figure 1. Regional location of the GRUB and Bursey properties.
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Under the terms of the option agreement, Great Thunder can acquire a 100% interest in the GRUB and Bursey's claim groups from the optionors by paying $15,000 and issuing 592,000 shares immediately and incurring $300,000 of exploration expenditures within two years. Access is deemed excellent through a network of logging roads.
GRUB and Bursey's Claim Group
The Property lies along the GRUB Fault, a crustal scale fault zone that divides the Gander Zone from the Exploits Subzone and extends over 200 km in a southwest trend. (Figure 2). The GRUB structural corridor and related splay faulting hosts the Appleton Fault and JBP Fault home to the Queensway Gold Project of New Found Gold that reportedly contains 2 gold discoveries, the Keats and Lotto Zones, and an additional 10 high grade gold showings https://newfoundgold.ca/project/queensway-project/.
The GRUB and Bursey's Properties are located over and adjacent to a carbonatized ultramafic unit with quartz-carbonate veining known as the Gander River Ultramafic Belt. The spatial relationship of gold mineralization to faults zones with carbonatized ultramafic rocks suggests a comparison to the Mother Lode Belt in California, a general deposit model where the carbonatization of ultramafic rocks and the development of gold veins in and above thrusts, reverse and normal faults has been used as a guide for exploration in these areas. Since the initial phase of exploration in the 1980's no further work has been completed on the claim groups.
Figure 2. GRUB and Bursey claim group along the GRUB Fault line.
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Commentary from the CEO
Blair Naughty, CEO of Great Thunder states: "As CEO of GTG it is my duty to our shareholders to get our company positioned into prolific areas with a high opportunity to discover new deposits. We are extremely pleased to bring Great Thunder to Newfoundland. Newfoundland has recently become one of the most exciting mining districts globally thanks a lot to, whom many call the world's greatest gold prospector, Shawn Ryan, and Newfoundland's legendary multi-generational Keat's family. These claims we are acquiring are strategically located along the GRUB Fault structural corridor northeast of New Found Gold's aggressive 200,000 metre drilling campaign. We are very aware of how geological structure plays a prominent role in gold discoveries in Newfoundland which especially excites us about these claims. While we await the drill results from our two campaigns in Quebec, we are looking forward to commence our initial field work in Newfoundland 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 Bursey's and GRUB properties 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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