Great Thunder Gold Corp. Options the Goldson Properties in Northeast Newfoundland
Vancouver, British Columbia--(Newsfile Corp. - September 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 the 5,525-hectare Goldson Properties located 58 kilometres ("km") northeast of Gander, Newfoundland (see Figure 1). With this addition, Great Thunder has strategically expanded its land holdings in Newfoundland from 1,195 claims to 1,416 claims (354 sq. kms or 35,400 hectares).
Figure 1: Great Thunder's map of northeast Newfoundland showing the location of the Goldson Properties
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/7129/95963_3fab1cd9e4acbab9_002full.jpg
About the Goldson Properties
The claims package combines the Central Gold Goldson North ("GSN"), Central Gold Goldson South ("GSS") and Central Gold Goldson West ("GSW") properties into the Goldson Properties. All three claim groups are in northeast Newfoundland and are located on or adjacent to New World Island. The area is accessible by causeway from the main part of the island and the properties can be accessed by road and by boat.
Regional & Local Geology
The properties lie in the northeastern corner of the Exploits Subzone (Dunnage Zone) of Central Newfoundland. The GSN property is underlain mostly by the Ordovician Badger and Chanceport groups and the Cambrian Twillingate Pluton to the north. The GSS property is underlain mostly by the Ordovician Dunnage Melange. The GSW is underlain mostly by mafic volcanics of the Chanceport and Moreton's Harbour groups.
Option Agreement
Under the terms of the option agreement, Great Thunder can acquire a 100% interest in the Goldson Properties from the optionors by paying:
- $20,000 cash and 250,000 shares immediately
- a further $30,000 and 350,000 shares within one year
- a further $45,000 and 550,000 shares within two years and
- a final $55,000 and 800,000 shares within three years
The optionors will also retain a 2% net smelter returns royalty, with Great Thunder having the option to buy back 1% for $1,000,000.
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.
About Great Thunder Gold Corp.
Great Thunder is traded on the Canadian Securities Exchange as GTG. The Company is a Canada-based junior mining exploration company focused on exploration and development in Newfoundland and is exploring and developing assets in Quebec.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/95963