Prospectair contracted for geophysical survey on all GTG projects in the Camp
Vancouver, British Columbia--(Newsfile Corp. - June 23, 2020) - Great Thunder Gold Corp. (CSE: GTG) (OTC: MLBVF) (FSE: M4KQ) ("Great Thunder" or the "Company") is pleased to announce the acquisition of 76 additional claims covering 4,200 hectares to expand its 100%-owned Southern Star Property located in the Fenelon Gold camp in Quebec.
Great Thunder's CEO, Rich Macey, stated, "Our team has been very active in recent months consolidating ground in the Fenelon Gold camp. This success is attributable to the team's extensive network and knowledge of the areas on which to concentrate. Because of this timely acquisition, we have been able to scale up our geophysical survey to cover the entirety of our projects within the camp."
Great Thunder Expands its Foothold in the Fenelon Gold Camp with the Extension of the Southern Star Property
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The Southern Star Property is located 6.5 kilometres south of the Fenelon/Tabasco deposit held by Wallbridge Mining Company ("Wallbridge"). This latest acquisition expands the Southern Star Property by more than 50% to approximately 123 square kilometres and now brings Great Thunder's holdings to more than 148 square kilometres in the prolific Fenelon Gold district.
The expanded Southern Star Property comprises 222 claims covering approximately 123 square kilometres. It is bounded to the south by Glencore claims and to the west and east by the claims of Midland Exploration.
Geophysical Survey
Great Thunder previously announced it will conduct a helicopter-borne magnetic and electromagnetic survey over its nearby Northbound property. The Company has now contracted Prospectair Geosurveys Inc., an industry leader in airborne geophysical exploration, to also conduct geophysical surveys consisting of approximately 1,500 line-kilometres over the expanded Southern Star Property. The surveys will be conducted concurrently and Prospectair's mobilization is imminent.
Southern Star Geology
Geologically, the Southern Star Property is underlain by volcanic intermediate to mafic rocks and mafic intrusive (gabbro). As interpreted by historical magnetic surveys, the gabbros have the form of a fold nose in the volcanics. Sediments and felsic intrusives are also present, but to a minor extend. Until now, only 5 drill holes have been reported on the property. Several isolated MegaTem anomalies were located during a Quebec government survey done in 2008, though many of them have not been drilled.
Acquisition Terms
Pursuant to an agreement signed June 21st, 2020, Great Thunder acquired a 100% interest, subject to a 1.5% net smelter returns royalty, in the 76 additional Southern Star claims by paying the vendor $14,000 and issuing 300,000 common shares. Great Thunder can purchase half (0.75%) of the net smelter returns royalty at any time for $500,000.
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 the second largest mineral claim holder next to the leading Wallbridge Mining (post-completed merger with Balmoral Resources).
On Behalf of the Board of Directors,
GREAT THUNDER GOLD CORP.
"Richard Macey"
President & CEO
Email:
Direct Line: (604) 537-4174
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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