Update GTG on News
Great Thunder acquires 20 Windfall Lake mineral claims
2017-03-02 10:14 ET - News Release
Mr. Kevin Whelan reports
GREAT THUNDER ACQUIRES WINDFALL LAKE AREA CLAIMS
Subject to TSX Venture Exchange acceptance, Great Thunder Gold Corp. has acquired 20 mineral claims covering approximately 1,127 hectares in the Windfall Lake area of Quebec.
The claims are located approximately 16 kilometres west of Osisko Mining's Windfall Lake deposit. The Windfall Lake deposit is, in turn, approximately six kilometres north of the bonterra Resources and Beaufield Resources deposits.
Great Thunder's president, Kevin Whelan, said: "The company is pleased to have positioned Great Thunder in the Windfall-Urban gold district of Northern Quebec. The $100-million in recent financings by four companies -- including Osisko Mining and Beaufield Resources -- will result in significant activity, exploration and possible new discoveries this season at Windfall Lake. Our vendor group brings significant experience to our Great Thunder team."
Under the terms of the purchase agreement, Great Thunder will pay the vendors $20,000, issue three million shares and grant a 2-per-cent net smelter return royalty. The company will also pay a finder's fee totalling 300,000 shares to Nathan Rotstein and Matthew Lewis, subject to TSX Venture Exchange acceptance.
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