October 24, 2019 – Vancouver, British Columbia – Thunderstruck Resources Ltd. (The “Company”) is pleased to announce the ground gravity geophysical survey results on its Korokayiu Joint Venture (JV) zinc-copper volcanogenic massive sulphide (VMS) prospect. The geophysical survey was successful in identifying several gravity anomaly targets including:
- An east-northeast trending gravity anomaly coincident with the historically drilled Korokayiu massive zinc-copper sulphide deposit,
- Multiple untested gravity anomalies coincident with the mapped continuation of the interpreted Korokayiu VMS horizon extending northeast over a combined 1.4 km strike length
The recently completed ground gravity geophysical survey comprised a total of 569 stations collected over an area of approximately 100 hectares at an irregular grid spacing averaging approximately 40 metres.
Bryce Bradley, Thunderstruck’s President/CEO, stated “With a proven high-grade zinc/copper target that was drilled over 40 years ago, this new gravity survey already shows 1.4km length strike potential of the favourable host structure.” She continued, “The goal of the current drilling campaign is to help confirm the potential of this exciting prospect.”
The geophysical survey successfully imaged the Korokayiu Deposit, which presents as a 61 milligal (mGal), northeast-trending bouger gravity anomaly having dimensions of approximately 300 x 30 metres coincident with the drilled extend of massive copper-zinc mineralization. Subsurface gravity inversion model results reveal an approximately 350-metre strike length untested greater than 300 kg/m3 density contrast anomaly having an apparent shallow, southwest plunge extending to a vertical depth of 200 m down-dip of historical drill holes WLK-5, 6 and 7 at the current western limit of the deposit (Figure 1).
In addition, multiple unexplained >300 kg/m3 density contrast gravity inversion anomalies occur along strike over a combined distance of approximately 1.4 km northeast of the Korokayiu deposit, coincident with the mapped continuation of the Korokayiu VMS horizon (Figure 2). These anomalies are associated with anomalous historical zinc in trench rock and soil geochemical responses. In addition, a single, circa 1981, shallow 26-metre vertical core hole (W1500/9) drilled for the purpose of geologic mapping control was collared approximately 60 metres east of one of the anomalies and intersected intensely clay sericite-altered dacite rock containing 2-3% pyrite-sphalerite-chalcopyrite mineralization over a 0.9-metre interval at a depth of 16.2 metres. The true width of the interval is unknown and there is no record of the core being submitted for assay.
Figure 1: Korokayiu Cu-Zn Deposit Long Section Gravity Inversion
Figure 2: Korokayiu VMS Horizon Long Section Gravity Inversion
Korokayiu Diamond Drilling Update
Thunderstruck is also pleased to provide an update on the status of the 2019 diamond drill program. The third drill hole of the program recently commenced and logging and sampling of the drill core at the Korokayiu field camp is underway in preparation for shipping of samples for analysis.
Please join us at the New Orleans Investment Conference November 1- 4, 2019, booth #112. www.neworleansconference.com
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 between Newcrest and Mitsubishi. 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). 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 extensive and highly prospective properties in Fiji on which recent and previous exploration has confirmed zinc, 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.”
Methodology and QA/QC
Gravity survey measurements were collected using two Scintrex CG-5 gravimeters augmented with precision station location and elevation data provided from conventional surveying instruments and post-processed GNSS (Global Navigation Satellite System) receivers. Repeat readings of approximately 10% were collected and found to be of excellent quality and repeat reading differences had an average value of 0.01 mGal. Geosoft Oasis Montaj® software was used to merge gravity reading and station location and to perform tide, instrument height, drift, latitude, free-air, simple and complete bouger, and terrain correction. GROWTH2.0 software was used to generate an unconstrained 3D inversion model of the subsurface densities using the complete bouger data at 2400 kg/m3 density. The resulting 3D inversion model highlights zones of increased density contrast ranging from 30 kg/m3 up to 400 kg/m3.
Qualified Person Statement
Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, is a qualified person for the project as defined by National Instrument NI 43-101. Mr. Raffle has reviewed and approved the portion of the technical content of this news release as it relates to Korokayiu VMS prospect.
For additional information, please contact:
Rob Christl, Investor Relations
P: 778 840-7180
or, visit our website: http://www.thunderstruck.ca
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.