Great Thunder Gold (GTG-Cse) Completes Due Diligence and Acquires the Southern Star Property, Fenelon Gold District of PQ Canada
June 16, '20 - NR
Great Thunder Gold is pleased to announce the completion of due diligence and closing of its Southern Star acquisition.
The Southern Star Property (“Southern Star”) located 6.5km south of the Fenelon/Tabasco deposit held by Wallbridge Mining Company (“Wallbridge”). The Southern Star addition now brings the Company’s claims to a total of 10,677 hectares in the prolific district.
The Southern Star Property:
The Southern Star Property is made up of 146 claims which covers approximately 8,100 hectares (81km2). It shares a 7km adjacent border with Midland Exploration’s recent claim acquisition announced April 2, 2020, expanding their Gaudet property.
Great Thunder Completes Due Diligence and Acquires the Southern Star Property, 6.5km South of the Wallbridge Mining’s Fenelon Deposit
Southern Star Geology
This new property acquisition, with encouraging gold and base metal potential, protects more than 81 km2 of the Brouillan-Fenelon geological Group, which is made up of felsic to mafic volcano-sedimentary rocks. The Bapst Fault marks the contact between the Brouillan-Fenelon Group and the Brouillan intrusive in the SW portion of this property. The Grasset Fault also crosses in part to the NE of the property.
The Bapst Fault runs NW-SE through the SW part of the property. In the South-West section of the property there was a historic silver intercept (SG3-1) along the Bapst Fault. The intercept returned 5.6g/t Ag over 1.4m and 5g/t Ag over 1m within drill holes (Mercier et al., 1996). This silver intercept was targeted within an area of conductor anomalies and a VTEM target identified by Midland Exploration in 2017.
There are two additional distinct electro-magnetic (“EM”) targets located on this property and it covers 11km along the extension of the Lower Detour Fault. There has been little historical work to test these different targets on the property, yet.
Acquisition Terms
Pursuant to two definitive agreements dated June 13, 2020, Great Thunder acquired a 100% interest, subject to a 3% net smelter returns royalty, in the Southern Star property from the vendors by paying $12,500 and issuing 450,100 common shares.
Great Thunder can purchase 2% (or 2/3) of the net smelter returns royalty at any time for $3,000,000.
Qualified Person
Donald Théberge, P.Eng., M.B.A. is the Qualified Person within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and has reviewed and approved the technical content 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: info@greatthundergold.com
Direct Line: (604) 537-4174
www.greatthundergold.com
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