Great Thunder Gold Corp. Expands Bursey Property in Newfoundland
12.07.2021 | Newsfile
Vancouver, July 12, 2021 - Great Thunder Gold Corp. (CSE: GTG) (OTC Pink: GTGFF) (FSE: M4KQ) ("Great Thunder" or the "Company") is pleased to announce it has expanded its Bursey property by acquiring the Bursey East claims in Newfoundland, Canada.The Company has acquired an additional 2 claim blocks located 45 kilometres ("km") northeast of Gander, NL (Figure 1). The Bursey Properties (the "Property") lie along the GRUB line, a crustal scale structural corridor believed to be one of the major fluid conduits related to the Gander Gold belt and New Found Gold's "Keats Zone" hosting bonanza high-grade gold mineralization.
Figure 1: GRUB and Bursey & Bursey East (orange circled claims) claim group along the GRUB Fault line
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Under the terms of the acquisition agreement, Great Thunder acquires 100% interest in the Bursey East claims from the vendors by paying $5,500 and issuing 100,000 shares immediately. The vendor will retain a 1% net smelter returns royalty.
Bursey Property
The Property lies along the GRUB Fault, a crustal scale fault zone that divides the Gander Zone from the Exploits Subzone and extends over 200 km in a southwest trend (see Figure 1). The GRUB structural corridor and related splay faulting hosts the Appleton Fault and JBP Fault home to the Queensway Gold Project of New Found Gold that reportedly contains 2 gold discoveries, the Keats and Lotto Zones, and an additional 10 high grade gold showings https://newfoundgold.ca/project/queensway-project/.
The Bursey Property is located over and adjacent to a carbonatized ultramafic unit with quartz-carbonate veining known as the Gander River Ultramafic Belt. The spatial relationship of gold mineralization to faults zones with carbonatized ultramafic rocks suggests a comparison to the Mother Lode Belt in California, a general deposit model where the carbonatization of ultramafic rocks and the development of gold veins in and above thrusts, reverse and normal faults has been used as a guide for exploration in these areas. Since the initial phase of exploration in the 1980's no further work has been completed on the claim groups.
Qualified Person
Mr. Mike Kilbourne, P. Geo, an independent qualified person as defined in National Instrument 43-101, has reviewed, and approved the technical contents of this news release on behalf of the Company.
The QP has not completed sufficient work to verify the historic information on the Bursey and GRUB properties particularly regarding historical exploration, neighbouring companies, and government geological work. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.
About Great Thunder Gold
Great Thunder Gold is a Canadian junior mining exploration company focused on mineral projects located in Quebec & Newfoundland, Canada.
On Behalf of the Board of Directors, GREAT THUNDER GOLD CORP.
"Blair Naughty"
President & CEO
Great Thunder Gold Corp.
Investor Relations
Email: info@greatthundergold.com
Direct Line: (236) 513-4653
www.greatthundergold.com
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Forward-Looking Statement
This news release may contain certain "forward-looking statements". Forward-looking statements involve known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.