Monday, 29 May 2023 06:14 GMT

Mining Stock News - Thunderstruck (TSXV: AWE) Announces Exploration And Drilling Update


(MENAFN- Investor Ideas) Thunderstruck Resources Ltd. (TSXV: AWE) (OTC: THURF) (The "Company") is pleased to provide the following updates on its 100% owned Fijian prospects.

Nakoro VMS (Zinc/Copper) Prospect - IP Geophysics

The Company has commenced an Induced Polarization (IP) geophysical survey across the Nakoro Prospect, where historic exploration has identified significant base metal mineralization including 12.0m @ 12.7% Zn and 0.3% Cu from 64m (NKD2) The activity comprises 10 line kilometers and is designed to provide effective target definition to inform follow up drilling activity.

CEO and President, Bryce Bradley states, "The current geophysical program at Nakoro, in conjunction with its historical high grade zinc/copper drill results from the 1970's, will assist Thunderstruck in defining future drill targets on this exciting prospect."


Figure 1: Summary map of Nakoro Prospect, showing location of previous drilling, geology and proposed IP surveying coverage

Liwa Gold/Silver Prospect - Diamond Drilling Program

Further to our press release dated Sept 14, 2022, the planned drilling program comprises an initial five drill holes for 1,500+ meters and is designed to test several well-defined epithermal gold-silver targets.

About Liwa Gold/Silver Prospect

The 2023 drill program will cover three of its four well-defined gold/silver targets, including:

  • Liwa Ridge: defined by a wide zone of gold-silver surface anomalism, including 71.3m at 0.61g/t Au (trench) and up to 11.1g/t Au and 109 g/t in rock chips with coincident resistivity and chargeability geophysical anomalism modelled at depth.
  • Vatuvatulevu (Vatu): defined by a 150m wide zone of gold-silver surface anomalism, including up to 2.48ppm Au in soils, 41.6g/t Au, 1,205g/t Ag in rock chips with coincident resistivity and chargeability geophysical anomalism modelled at depth.
  • Jensens: defined by multiple zones of gold-silver anomalism at surface, including 7m at 5.7 g/t Au (trench) and up to 55.2g/t Au in rock chips with coincident resistivity and chargeability geophysical anomalism modelled at depth
    Figure 2: Summary map of Liwa Project, showing location of prospects, surface exploration results, proposed and completed drilling

    Drilling activity in late 2022 included mobilization into Liwa camp and completion of the maiden drill hole into the Vatuvatulevu Prospect target area (Vatu). The Vatu target is defined by a 150m wide zone of strong surface gold-silver anomalism (max: 2.48ppm Au - soils, 41.6g/t Au, 1205g/t Ag - rocks) and high resistivity-high chargeability IP geophysical anomalism.

    The drill hole is situated at the southernmost extent of a 500 x 150m zone of surface anomalism and whilst not reporting any significant assay results, has provided critical structural information indicating a likely sub vertical to steeply east dipping geometry to the target zone. The drilling program has been adjusted accordingly, with the next drill hole to be drilled westwards to test the target zone (Figures 2, 3).

    "The drill rig is on site, the camp and drill pads have been built and we start drilling as soon as the dry season kicks in, hopefully early May, 'commented Thunderstruck's President/CEO Bryce Bradley'. "Shipping delays in 2022 resulted in our newly constructed drill rig arriving in Fiji near the end of the exploration season, allowing the completion of only one drill hole before cyclone season. 'She continued', "Thankfully, we now have everything we need on site and anticipate a productive drill program over three separate targets on our Liwa precious metals prospect, where surface sampling has returned high grade gold and silver over a 3km structural corridor"


    Figure 3: Vatuvatulevu: target defined by a 150-meter-wide zone of gold-silver anomalism at surface, including up to 2.48 ppm Au in soils, 41.6 g/t Au and 1,205 g/t Ag in rock chips with coincident resistivity and chargeability geophysical anomalism modelled at depth

    About Thunderstruck Resources

    Thunderstruck Resources is a Canadian mineral exploration company focused on the discovery of high value gold-silver epithermal and copper-gold porphyry deposits on the main island of Viti Levu in Fiji.

    Fiji has a long history of mining with over 75 years of activity at the prolific Vatukoula Gold Mine alongside several advanced development projects including Tuvatu (Lion One), Indicated Resources of 1.00 Mt @ 8.48 g/t Au (274,600 oz), Inferred Resources of 1.33 Mt @ 9.0 g/t Au (384,000 oz) (Tuvatu-PEA-Update-NI-43-101) and Namosi (Newcrest Mining), Proven, Measured and Indicated Resources of 1.8Bt at 0.35% Cu and 0.11 g/t Au (6.4M oz Au and 6.3Mt Cu) (Newcrest Annual Mineral Resources Update, June 2022).

    The Company provides investors with exposure to a diverse portfolio of exploration stage projects with potential for zinc, copper, gold and silver in a politically safe and stable jurisdiction.

    Thunderstruck trades on the Toronto Venture Exchange (TSX-V) under the symbol "AWE" and United States OTC under the symbol "THURF."

    Qualified Person Statement

    The technical information in this news release was reviewed by Peter Duerden, RPGeo, an advisor to Thunderstruck Resources, and a qualified person as defined by National Instrument 43-101 (NI 43-101)

    QAQC Procedures

    The Company sends its samples to ALS Minerals laboratory in Brisbane, Australia ("ALS") for sample preparation and analysis. The drill core was sampled at a nominal 1m interval with half core submitted for assay. Samples are dried, crushed and pulverized to 90% passing 75 microns.

    Gold was determined by 50g fire assay (method Au-AA26) with a detection limit of 0.01ppm. Multi element assaying was completed for 48 elements by 0.25g four-acid digest with ICPMS determination (method ME-MS61). Quality Control and Quality Assurance (QAQC) protocol for drill core samples includes: 1) field measurement of half core sample weights; 2) insertion of certified reference materials at 1 in 50 frequency; 3) insertion of Certified Reference Materials (CRM) or blank sample at 1 in 50 frequency. ALS has internal QAQC protocols that include analysis and results monitoring for certified reference materials, blank and duplicate samples.

    For additional information, please contact:
    Rob Christl, VP Business Development and Investor Relations
    Email:
    P: 1-778 840-7180
    Or, visit our website:

    Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    This news release contains certain statements that may be deemed "forward-looking statements". Although Thunderstruck believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Thunderstruck's management on the date the statements are made. Except as required by law, Thunderstruck undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

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