Great Thunder Adds Fourth Land Position to Newfoundland Portfolio
Vancouver, British Columbia--(Newsfile Corp. - June 15, 2021) - Great Thunder Gold Corp. (CSE: GTG) (OTC Pink: GTGFF) (FSE: M4KQ-FF) ("Great Thunder" or the "Company") is pleased to announce it has entered into an option agreement to acquire 22 claims totaling 550 hectares located 45 kilometres ("km") north of the town of Gander, NL (Figure 1). The Bursey's North claim group (the "Property") lies 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 where recent dill results of 146.2 g/t Au over 25.6m were reported (see press release dated May 21, 2021). This acquisition is an extension of the Bursey's Property which Great Thunder acquired alongside the GRUB property (see News Release dated June 3rd, 2021).
Figure 1. Regional location of the Bursey's North Property.
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Under the terms of the option agreement, Great Thunder can acquire a 100% interest in the Bursey's North claims from the option or by paying $5,000 and issuing 100,000 shares immediately, incurring $25,000 of exploration expenses within two years and granting a 2% net smelter returns royalty. The Company may repurchase three-quarters of the royalty at any time for $2,000,000. The Company paid a finder's fee of 10,000 shares in respect of the transaction.
Bursey's North 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 Bursey's North Property is 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. Bursey's North combined with the Bursey's claim group location along the GRUB Fault line.
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Commentary from the CEO
Blair Naughty, CEO of Great Thunder states: "This is Great Thunder's fourth property acquisition in the central Newfoundland gold belt. We are well positioned and strategically located with over 11,000 hectares of ground in active gold-bearing structural corridors which bodes well for success through our exploration programs. The island has seen some great surface work done by local prospectors over the decades. Now when you bring in active resource companies along with modern technology it creates a huge opportunity of discovery. We are very excited to be a part of the positive developments in Newfoundland."
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 North 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 Statements
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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