Mr. Richard Macey reports
GREAT THUNDER MORE THAN DOUBLES ITS LAND POSITION IMMEDIATELY NORTHWEST OF WALLBRIDGE MINING
Great Thunder Gold Corp. has purchased the Northbound Extension property. The Northbound Extension property is 1,582 hectares and shares a 2.75-kilometre border with the recently optioned Northbound gold property to the northwest of Wallbridge Mining Company Ltd.'s growing Fenelon gold deposit.
Similar to Great Thunder's Northbound property, the Northbound Extension property is underlain by the Jeremie pluton, an intrusive body becoming increasingly important at the contiguous Fenelon property. It is located approximately 90 kilometres northwest of the town of Matagami in Northern Quebec.
Exploration completed by Wallbridge in 2019 tested strike extensions of known mineralization from the metasediments and metavolcanics and gabbro into the Jeremie pluton. To date, drilling by Wallbridge has confirmed the extensions of the gold-bearing mineralized zones well into the pluton and the zones appear to be open farther into the pluton. Great Thunder cautions investors that mineralization on Wallbridge's Fenelon property is not necessarily indicative of similar mineralization on the Great Thunder Northbound Extension property.
Pursuant to a definitive agreement dated March 1, 2020, Great Thunder can acquire a 100-per-cent interest, subject to a 3-per-cent net smelter return royalty, in the Northbound Extension property from the vendors as follows:
- Upon TSX Venture Exchange acceptance, pay $10,000 in cash and issue 250,000 shares of Great Thunder;
- Great Thunder can purchase 1 per cent (or one-third) of the net smelter returns royalty at any time for $1-million.
Donald Theberge, PEng, MBA, is the qualified person who has reviewed and approved the technical content of this news release on behalf of the company.
© 2024 Canjex Publishing Ltd. All rights reserved.