Blue Thunder Initiates 2021 Field Program to Investigate Encouraging 2020 Exploration Results
Toronto, May 26, 2021 - Blue Thunder Mining Inc. (TSXV: BLUE) ("Blue Thunder" or "the Company") is pleased to announce the commencement of its 2021 field program, including drilling, on the 100%-owned Muus Project, situated in the Chibougamau Gold District, Quebec. The program follows up on encouraging results reported in late 2020 (see January 21, 2021 news release).
"2021 promises to be a very exciting year for Blue Thunder: our exploration momentum has grown steadily since we aggregated, through staking and acquisition, our large and strategically situated land package of approximately 52,000 hectares (ha) (approximately 130,000 acres). This is the largest aggregate claim block in an extremely exciting area for mineral exploration. In late 2020 we released encouraging drilling results from both the Fancamp property and a new gold-mineralized zone (the "Discovery Zone") on the Muus property. Also, the recent addition of Mr. Jean Francois Metail to our team has sparked new thinking and energy into our efforts. We have many reasons to be optimistic that we will make a significant discovery in 2021," said Chad Williams, Executive Chairman and Interim CEO.
2021 HIGHLIGHTS
- 2,600 metres of diamond-drilling planned in Phase 1 program
- Till and soil sampling surveys underway both at the Muus and Fancamp properties
- Property-scale 3-D modeling and targeting work
2021 Till and Soil Geochemical Program
Blue Thunder has retained IOS Services Géoscientifiques Inc. ("IOS") to complete a till sampling program across the Company's Muus property. A total of 175 till samples will be collected and processed for gold grain content by IOS using their proprietary automated analysis technique. The IOS gold-in-till approach has been successfully deployed in other gold districts in the Abitibi region of Québec and other gold districts across Canada and it played an important role in numerous discoveries such as Kenorland Minerals Ltd's recent discovery in the Frotet-Evans Greenstone Belt located north of Muus. Results from the IOS till survey are expected by mid-summer.
The company has also commenced a soil sampling program at its Fancamp and Muus properties, on select target areas. The first phase of the soil-sampling program is designed to collect approximately 3,000 samples.
Ongoing 3-D Modeling and Target Generation
Results from the 2021 till- and soil-geochemical programs will be used to augment the ongoing property-scale 3-D modeling work being carried out for the Muus Project, in which multiple layers of data are being integrated to generate a property-wide structural and geological framework.
This 3-D model will be used to identify prospective zones associated with the key regional structures that transect the Muus Project, namely the Guercheville Deformation Zone, the Fancamp Deformation Zone and the Philibert-Joe Mann Deformation Zone.
These deformation zones are associated with many of the known gold deposits and occurrences in the District, including the recently discovered Nelligan[1] and Monster[2] Lake gold deposits, which occur on adjacent properties and on strike with Blue Thunder claims.
Vanstar Mining Resources Inc. recently announced that its joint-venture partner Iamgold Corporation ("Iamgold") (Iamgold 75%, Vanstar 25%) is expected to begin a 9,000 to 10,000 metre diamond-drilling campaign at Nelligan. Interestingly, approximately half of this drilling budget appears to be dedicated to step-outs to the west of the Nelligan deposit in the direction of the Muus Property.
2021 Drilling Program
The Company has budgeted 2,600 metres of Phase 1 diamond-drilling for the 2021 field program. A number of targets will be tested on the Muus property targeting "Nelligan-style" sedimentary-hosted gold mineralization, including extensions of hole MUUS20-01 in the Discovery Zone and Induced Polarization anomalies identified over the Tectonic Grid.
QAQC and Qualified Person
The scientific and technical information that forms the basis for parts of this press release was reviewed and approved by John Langton (M.Sc., P.Geo.), who is a Qualified Person as defined by National Instrument 43-101.
COVID-19
On February 22, 2021, the government of Québec down-graded the "Nord-du-Québec" region, in which the Company's Muus Project occurs, from Level 4 (Red) to Level 3 (Orange), which was recently followed by a further downgrade to Level 2 (Yellow) on March 26, 2021. The Company continues to monitor developments related to the COVID-19 pandemic very closely.
In conformity with guidelines proposed by the Québec government's "Commission des normes, de l'équité, de la santé et de la sécurité du travail" (CNESST) the Company has implemented a strict COVID-19 management plan that complies with provincial government directives and guidelines with the main objective to safeguard the health and safety of our workers, stakeholders and local community members in light of the COVID-19 pandemic.
Director Resignation
Rob Cinits has tendered his resignation as a Board member of the Company.
About Blue Thunder
Blue Thunder (TSXV: BLUE) (OTCQB: BLTMF) is a gold exploration company that controls 100% of a large land position near Chibougamau, Québec. The Muus Project covers approximately 52,000 ha in five non-contiguous claim blocks in the eastern part of the Abitibi Greenstone Belt, referred to as the Muus, Muus East, Fancamp, Nisk and Embry properties. The Project is considered particularly prospective for gold and base metal mineralization, as a series of prominent ductile and brittle fault‐sets transect the Property, including the Guercheville and Fancamp deformation zones, both of which are associated with numerous past and currently producing precious‐ and base‐metal mines in the District.
ON BEHALF OF THE BOARD
Chad Williams, Executive Chairman and Interim CEO
Blue Thunder Mining Inc.
401 Bay Street, Suite 2100, P.O. Box 55, Toronto, Ontario, M5H 2Y4
(647) 848-1009
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements and information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements herein, other than statements of historical fact, including, without limitation, statements regarding the anticipated content, commencement, anticipated exploration program results, the ability to complete future financings, the ability to complete the required permitting, the ability to complete the exploration program and drilling, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, the state of the financial markets for the Company's equity securities, the state of the commodity markets generally, variations in the nature, the analytical results from surface trenching and sampling program, including diamond drilling programs, the results of IP surveying, the quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the inability of the Company to obtain any necessary permits, consents or authorizations required, including TSXV acceptance, for its planned activities, the inability of the Company to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, the potential impact of COVID-19 (coronavirus) on the Company's exploration program and on the Company's general business, operations and financial condition, and other risks and uncertainties. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties. This news release contains information with respect to adjacent or similar mineral properties in the Chibougamau District in respect of which the Company has no interest or rights to explore or mine. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits, and the results of any mining thereof, on adjacent or similar properties, are not indicative of mineral deposits on the Company's properties or any potential exploitation thereof.
[1] Inferred Resource of 97 Mt at 1.0 g/t Au, NI 43-101 Technical Report, Oct 22, 2019, Prepared for IAMGold Corp. and Vanstar Mining Resources
[2] Inferred Resource of 1.1 Mt at 12 g/t Au, Monster Lake NI 43-101 Technical Report, Apr 9, 2018, Prepared for IAMGold Corp. and TomaGold Corp.
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