Thunderstruck Provides Exploration Update, Appoints Lawrence Roulston and Linnea Von Hessert to Board
November 27, 2017 (Source) — Thunderstruck Resources Ltd. (TSXV: AWE) (“Thunderstruck“); The Company is pleased to provide an exploration update on its Rama Creek copper-gold porphyry and Liwa Creek gold prospects. Thunderstruck is conducting the first comprehensive exploration since drilling by Anglo American in the 1970s discovered zones with high-grade zinc and copper values. Work by Thunderstruck over the past year has confirmed the Anglo values and identified other targets prospective for gold, silver, copper and zinc.
Rama Creek Update
Following its release of positive Phase 1 Bulk cyanide Leach Extractable Gold (BLEG) stream sediment sample results for the Rama Creek prospect (see the Company’s September 27, 2017 News Release), the Company’s expanded Phase 2 exploration included the collection of an additional 37 stream sediment, 120 target-specific auger soil, and 113 surface rock geochemical samples.
Current Phase 2 stream sediment follows up on the Phase 1 defined Rama, Rama North, and Senikura Creek Cu-Au and Au-Ag anomalies by extending complete stream coverage, and concurrent rock geochemical sampling, into the headwaters and tributaries of Rama and Senikura creeks. Target-specific auger soil sampling was designed to confirm and provide increased resolution over wide-spaced historic gold in soil anomalies at Rama (316 and 143 ppb Au), Rama Headwaters (739 ppb Au), and Senikura West (4 samples ranging from 107 to 511 ppb Au).
Liwa Creek Update
Following successful completion of Phase 2 sampling at Rama, crews mobilized to Liwa Creek to execute the Company’s first work program on the prospect (see the Company’s News Release of October 24, 2017). During October and November 2017, Thunderstruck crews completed 520m of trenching in four (4) separate areas at the Jensen and Liwa Ridge gold showings, including the collection of 113 trench rock channel samples, 100 prospecting rock grab, and 34 BLEG stream sediment samples.
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Excavation of a 261m E-W trending trench at the Jensens’s gold showing uncovered several 3.2 m-wide zones of intensely weathered quartz-sulphide veined mafic volcanic rock within a broader 5.3m-zone of apparently sericite-hematite interval. The relationship of the trenched intervals to the true width of mineralization is not known.
Geologic mapping at the Liwa Ridge gold showing confirmed the presence of a sub-vertical to steeply west dipping 60m-wide zone of hematite-silica-pyrite altered mafic volcanic rocks over a 400m strike and 100m vertical extent between the Liwa and Noda creek drainages. The zone is open to the north and south under scree and soil cover. Current work tested the Liwa Ridge gold showing via two (2) trenches having an aggregate length of 229m, separated 200m along strike and 100m vertically.
An initial block of 34 stream sediment and 100 prospecting rock grab samples were collected within the Liwa and Vatuvatulevu creek areas designed to expand the Jensens and Liwa Ridge gold zones and follow up on wide-spread historic anomalous gold in float rock in Vatuvatulevu Creek over a distance of 1.5km (see the Company’s News Release of October 24, 2017).
The Company is currently waiting on receipt of Rama Creek stream, rock and soil geochemical samples (270 samples in total). Thunderstruck completed initial Liwa Creek Prospect exploration on November 16, 2017. Liwa trench and prospecting rock and stream sediment geochemical samples (247 samples in total) are currently en route to Australian Laboratory Services Pty. Ltd (ALS) labs Perth. The Company will report on the results as they are received.
Based on the results of Liwa Creek trenching and geologic mapping, Thunderstruck has updated its ridge-and-spur auger soil geochemical sampling program designed to test the strike potential of the Liwa Ridge and Jensen’s and Gun (formerly Siga’s) gold prospects. Crews are expected to re-mobilize to Liwa Creek prior to the end of November for a period of approximately two weeks.
Following completion of the initial Liwa Creek auger soil sampling program, Thunderstruck crews will demobilize the Liwa camp and re-establish the Rama Creek Prospect camp in preparation for commencement of TerraSpec® Short Wave Infrared (SWIR) rock and deep “C” horizon auger soil hydrothermal clay alteration mineral mapping work, which should be complete by end of Q4. SWIR alteration mineral mapping of the Rama Creek Cu-Au prospect is designed to prioritize potential drill targets in conjunction with multi-element geochemistry.
The recent results are highly significant, as they provide support for the premise that they are part of large and well-mineralized geological systems which have the scope to host large deposits. Work over the next few weeks will focus on compiling the recent results into the geological database leading to the design of a drill program in 2018.
Board of Directors
The Company is pleased to announce the appointment of Linnea von Hessert and Lawrence Roulston to the Board of Directors. Ms. von Hessert is a geologist with over 20 years experience in the mining industry, having worked for majors and juniors as well as the Bureau of Land Management in Nevada. She is an active investor with significant holdings in the mineral exploration industry. She graduated from the University of Montana with a B.S. in geology in 1999.
Mr. Roulston is a mining professional with over 35 years of diverse experience as a mining analyst and consultant. He is Managing Director of WestBay Capital Advisors, providing business advisory and capital markets expertise to the junior and mid-tier sectors of the mining industry. Previously, he was the editor of Resource Opportunities, an independent investment publication focused on the mining industry. Mr. Roulston holds a B.Sc. in geology. He is Chairman of Metalla Royalty and Streaming Ltd. and an advisor to Metallis Resources Inc.
The Company also announces the resignation of Michael L. Page from the Board, and thanks him for his time and dedication to date as the Company’s Qualified Person and technical advisor.
“We are very satisfied with the progress of our current exploration program, guided by our talented and experienced technical consultants,” notes Bryce Bradley, Thunderstruck’s president and CEO. “This is the first concerted program on these highly-prospective targets since we acquired them, with a goal of establishing well-founded drill targets for 2018. We are also extremely pleased with the addition of Lawrence Roulston and Linnea von Hessert to our board. They are excited to join our team as we finally begin to unlock the potential of our high-quality exploration assets.”
About Thunderstruck Resources
Thunderstruck Resources is a Canadian mineral exploration company with highly prospective base and precious metals projects in Fiji. Fiji has an 80-year mining history, with Vatukoula Gold Mine having produced 8 million ounces of gold. Located on the Pacific “Ring of Fire,” which hosts some of the largest gold-copper deposits on the planet, including Grasberg. Fiji is now being explored by several major mining companies.
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”.
Qualified Person Statement
Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, is a qualified person for the project as defined by National Instrument NI 43-101. Mr. Raffle has reviewed the portion of the technical content of this news release as it relates to the Rama and Liwa Creek prospects.
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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