Thunderstruck Announces Third Year Exploration Program on its Korokayiu Zinc/Copper Project
Vancouver, June 15, 2021 - Thunderstruck Resources Ltd. (TSXV: AWE) is pleased to announce the commencement of Phase 1 of its 2021 exploration program on its Korokayiu high grade zinc/copper asset in Fiji. This marks the third year of funding from joint venture partner JOGMEC (Japan, Oil, Gas and Metals National Corporation). Phase 1 will include soil sampling and geophysics over several known targets to determine Phase 2 drilling objectives.
Bryce Bradley, President and CEO of Thunderstruck Resources, commented, "Road clearance will be completed this week, and the soil sampling program will commence on Monday. We're pleased that MINDECO (Mitsui Mineral Development Engineering Co., Ltd.) will return to Fiji to execute their IP program after which time we will use geochemical and geophysical results to determine drill targets for later in the season."
SOIL AND GEOPHYSICAL SURVEYS TARGET HIGH PRIORITY ZONES
Exploration underway to identify VMS mineralization over 7.5 km along strike
The next phase of exploration includes:
- Soil sampling at high priority prospects: Kula Creek, Echo Creek, Rotorua, Nancy, Kalia, Ruve and Palu Creek (Figure 1)
- 4 line km of Induced Polarity (IP) geophysical surveys.
SOIL SAMPLING
The 2021 exploration season has begun with the start of a focused soil sampling campaign of over 1500 samples. Programs will develop a geochemical profile over approximately 7.5 km of prospective ground at Korokayiu. The study will focus on base metals associated with Volcanic Massive Sulphide (VMS) mineralization over seven presently known target areas; Kula Creek, Echo Creek, Rotorua, Nancy, Kalia, Ruve and Palu Creek (Figure 1).
Echo, Ruve and Palu Creek prospects were highlighted during recent (2019-2020) exploration seasons through drilling of the discovery outcrop and ongoing geologic mapping and geophysical efforts. They occur 500-1000 m NE along strike from the discovery zone highlighted by Drill hole WLK17; which intersected 13.8% zinc (Zn), 2.94% copper (Cu), 114 grams-per-tonne silver (g/t Ag), and 1.08 g/t gold (Au) over a drill core interval of 11 metres (Figure 2) (see press release dated January 30, 2020).
Echo Creek was also highlighted by ongoing IP surveys which identified resistivity anomalies between 300 and 700 meters NE along strike from the discovery outcrop (see press release dated April 12, 2021).
Figure 1: Location map of soil sample survey areas over high priority targets at Kula Creek, Nancy, Kalia, Rotorua, Echo Creek, Ruve Creek and Palu Creek.
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At Kula, Nancy, Kalia and Rotorua prospects soil sampling programs are also underway to identify any anomalous VMS mineralization associated with the western extensions of previously identified mineralized horizons at the discovery zone (Wainaleka).
GEOPHYSICS
Following successful identification of high priority targets at Echo Creek, continued IP surveys are slated to commence mid-season by MINDECO. An additional 4 line km will be completed over the highly prospective Kula Creek and Echo Creek prospects.
Figure 2: Korokayiu WLK17 drill section.
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ABOUT JOGMEC
JOGMEC (Japan Oil, Gas and Metals National Corporation) seeks to ensure a stable supply of metal resources that are indispensable for Japanese industries. To achieve that objective, they contribute financial and technical resources to exploration, development, production and other measures intended to provide a long-term supply of key metals.
ABOUT MINDECO
Mitsui Mineral Development Engineering Co. Ltd. (MINDECO)
MINDECO provides comprehensive mineral exploration services covering geological, geochemical, and geophysical surveys and drilling for natural resources. Through private sector and international cooperative projects, MINDECO has been involved with the surveying and development of non-ferrous metal and water resources in Japan, Central and South America, Southeast and Central Asia, and numerous African countries.
Utilizing their years of experience and expertise in resource projects, MINDECO provides advice for formulating mining promotion measures, proposals for mining master plans, and support for mining promotion that gives appropriate consideration to the environment.
ABOUT FIJI
Viti Levu, the main island of Fiji, has a long mining history. It is on the prolific Pacific Ring of Fire, a trend that has produced numerous large deposits, including Porgera, Lihir and Grasberg. The island of Viti Levu hosts Namosi, held by a joint venture of Newcrest, Mitsubishi and Nittetsu. Newcrest published Proven and Probable Reserves for Namosi of 1.3 billion tonnes at 0.37% Cu and 0.12 g/t Au (5.2M ounces Au and 4.9M tonnes Cu) (please see Company's Press Release October 19, 2019). Namosi is now undergoing environmental assessment as part of the permitting process. Lion One Metals is now developing its Tuvatu Project, with Indicated Resources of 1.1 million tonnes at 8.17 g/t Au (294,000 ounces Au), and Inferred Resources of 1.3 million tonnes at 10.6 g/t Au (445,000 ounces Au). The Vatukoula Gold Mine has been operating for 80 years, producing in excess of 7 million ounces.
ABOUT THUNDERSTRUCK RESOURCES
Thunderstruck Resources is a Canadian mineral exploration company that has assembled four extensive and highly prospective properties in Fiji on which recent and previous exploration has confirmed VMS, copper and precious metals mineralization. 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" and United States OTC under the symbol "THURF".
On behalf of Thunderstruck Resources Ltd.
Bryce Bradley
President/CEO, Director
For additional information, please contact:
Rob Christl, VP Business Development and Investor Relations
Email: rob@thunderstruck.ca
P: +1 778 840-7180
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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