Great Thunder Exercises Option to Purchase Chubb and Bouvier Lithium Properties
Victoria, British Columbia (FSCwire) - Great Thunder Gold Corp. (TSXV: GTG) is pleased to announce that it has issued its final option payment to Globex Mining Enterprises Inc. and now owns 100% of the 2,200-hectare Chubb and Bouvier lithium properties located in the Preissac-Lacorne area of the Abitibi Greenstone Belt of Quebec. The properties are subject only to a 2% gross metal royalty and a 1% net smelter returns royalty. The net smelter returns royalty can be repurchased at any time for $200,000.
Great Thunder’s President, Kevin Whelan, said “We are excited by both the historical results we’ve gathered on the Chubb and Bouvier lithium properties and the new data announced in our January 26 press release. This gave us the clear path to exercise our option to buy the properties and begin planning our exploration program for the coming year.”
About the Chubb and Bouvier Lithium Properties
The Chubb property is located in northern Québec in the Abitibi-East County, Lacorne municipality, NTS map sheet 32C05. The claims are situated within the Preissac-Lacorne plutonic complex of the Abitibi Greenstone Belt; the complex forming one of the best prospective areas for lithium mineralization. The Chubb property consists of 35 contiguous recorded mineral claims for a total area of 1,509 hectares or 15.1 km2. The property geology is dominated by quartz monzodiorite and metasomatized quartz diorite (tonalite). A swarm of spodumene-rich granitic pegmatite dykes intrude fractures and small faults within the plutonic rocks. There are three important granitic pegmatite dykes containing spodumene mineralization (Dyke #1, #2 and Main Dyke). In 2010, International Lithium carried magnetic and IP geophysical surveys, mapping and channel/ grab sampling in the area surrounding the three principal spodumene-bearing dykes. The main dyke, which is 300 m long, was shown to have Li2O concentration of 1.00 wt. % (n=41).
The Bouvier property is located within the Preissac-Lacorne plutonic complex of the Abitibi Greenstone Belt, in the Saint-Mathieu municipality of Figuery Township (NTS map sheet 32D08). The geological setting and structure of the volcano-sedimentary assemblages form an ideal host for lithium-rich pegmatites being located between the Northern Manneville Deformation Zone and the northern edge of the fertile Lacorne monzogranite pluton. The Bouvier property consists of 16 contiguous recorded mineral claims for a total area of 692 Ha or 6.92 km2. Spodumene-bearing granitic pegmatite dykes occur only south of the Manneville Fault and were emplaced principally in metasediments. The dykes are oriented parallel to the Manneville Fault and can reach 100 m in length and 10 m in apparent thickness. In 2010, Mineral Hill Industries Ltd. carried out an exploration program involving line cutting, a magnetic and IP survey, trenching and panel and grab rock sampling. The work unearthed EW-oriented spodumene-bearing granitic pegmatites parallel to the Manneville Deformation Zone. The main dyke displayed an average lithium concentration of 1.51 Li2O wt. % (n=20).
The technical contents of this release were approved by Michel Boily, Ph.D, geo., an independent Qualified Person as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD
Signed “Kevin C. Whelan”
Kevin C. Whelan, President
Direct line: (250) 474-6640
Neither TSX Venture Exchange 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.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/greatthunder02092017.pdf
Source: Great Thunder Gold Corp. (TSX Venture:GTG)
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