Great Thunder Applauds Wallbridge Mining on its Announced C$110 Million Acquisition of Balmoral Resources to Further Consolidate its Fenelon Land Holdings Along the Detour Gold Trend
VICTORIA, BC / ACCESSWIRE / March 3, 2020 / Great Thunder Gold Corp. ("Great Thunder") (TSXV: GTG) is pleased to announce the purchase of the Northbound Extension Property. The Northbound Extension Property is 1,582 hectares and shares a 2.75 KM border with the recently optioned Northbound Gold Property to the North-West of Wallbridge Mining Company Ltd.'s ("Wallbridge") 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 kilometers 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 further 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% interest, subject to a 3% net smelter returns 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% (or 1/3) of the net smelter returns royalty at any time for $1,000,000.
Donald Théberge P.Eng., M.B.A, is the qualified person who has reviewed and approved the technical content of this news release on behalf of the company.
ON BEHALF OF THE BOARD
Signed "Richard Macey"
Richard Macey
President and Chief Executive Officer
Direct line: (604) 537-4174
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.
SOURCE: Great Thunder Gold Corp.
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https://www.accesswire.com/578785/Great-Thunder-More-Than-Doubles-Its-Land-Position-Immediately-Northwest-of-Wallbridge-Mining
