Great Thunder Files Updated NI43-101 on the Chubb Lithium Property, Quebec
Vancouver, British Columbia--(Newsfile Corp. - February 22, 2021) - Great Thunder Gold Corp. (CSE: GTG) (OTC: GTGFF) (FSE: M4KQ) ("Great Thunder", or the "Company") is pleased to report that it has filed an updated National Instrument 43-101 Technical Report relating to its Chubb Lithium property (the "Property") on SEDAR. The report recommends drilling on the three main dykes of the Property.
The Chubb Lithium Property
The Chubb Lithium property is located 25 km north of the mining community of Val d'Or, Quebec (Figure 1). It is hosted within the La Corne Pluton which is also host to North American Lithium's deposit with reported proven and probable reserves of 17.06 Mt grading 0.94% Li2O and measured and indicated resources of 33.24 Mt grading 1.19% Li2O (http://na-lithium.com/projects). The Chubb Lithium property is also close to the Authier Lithium Deposit of Sayona Mining (ASX: SYA) which is estimated to contain measured and indicated resources of 17.18 Mt grading 1.01% Li2O and inferred resources of 3.76Mt grading 0.98% Li2O (https://bit.ly/3qxcgZM).
Figure 1: Regional location of the Chubb Lithium Property within the La Corne Pluton.
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The Chubb Lithium property consists of 35 contiguous mineral claims for a total area of 1,509 hectares. The property geology is dominated by quartz monzodiorite and metasomatized quartz diorite (tonalite). A swarm of spodumene-rich pegmatite dykes intrude fractures and small faults within the plutonic rocks. The pegmatite dykes are 1 to 6 metres thick so far, oriented northwest and vary in length from 25 to 250 metres. The pegmatites are composed of quartz, albite and/or cleavelandite, K-feldspar, muscovite, with 5% to 25% spodumene. There are three important pegmatite dykes containing spodumene mineralization (Main Dyke, Dyke #2, and Dyke #3) (Figure 2).
Great Thunder drilled 3 holes for 306m in 2017 on the Property. Highlights included 1.33% Li2O over 5.3m in hole C-17-01. Diamond drilling by Wrightbar Mines in 1994 intersected 3.7m grading 1.68% Li2O, 2.74m grading 1.00% Li2O and 2.4m grading 1.25% Li2O.
Figure 2: Pegmatite dyke swarm at the Chubb Lithium Property.
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Commentary from the CEO
Great Thunder's President and CEO, Mr. Blair Naughty, said, "While we continue to focus on gold in the Fenelon camp, Great Thunder is in an enviable position to have the Chubb Lithium Property in a prolific lithium-bearing pegmatite field, close to infrastructure and close to the development of the first possible lithium mines in Canada during the inevitable need for electric vehicles. We look forward to continuing our exploration efforts with an upcoming drill program in the spring of 2021."
The complete technical report, entitled "NI 43-101 Technical Report, Chubb Property, Preissac-Lacorne Townships, Quebec, Canada, Val d'Or Mining Camp for Great Thunder Gold Corp." and dated February 1st, 2021, is available at https://www.sedar.com.
Qualified Person
Donald Théberge, P.Eng., M.B.A., 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.
About Great Thunder Gold
Great Thunder Gold is a junior Canadian mining exploration company focused on exploration and development along the Detour Gold trend in Quebec. The Company is one of the largest mineral claim holders next to the leading Wallbridge Mining.
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
www.greatthundergold.com
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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