"Thanks, Rich! Nice 'Snag'",.... Knock-knock. Who's there?Who else? Why it's Mr. Sprott (AGAIN) !!!!
Going,... Going,.... GONE? The NEXT BIG Market-Mover Discovery? Enjoy. GaL
Great Thunder Gold to acquire Southern Star
2020-04-21 09:29 ET - News Release
Mr. Richard Macey reports
GREAT THUNDER SIGNS LOI, POSITIONING TO BECOME ONE OF THE LARGEST LANDHOLDERS AROUND WALLBRIDGE'S FENELON DEPOSIT IN QUEBEC
Great Thunder Gold Corp. has secured a letter of intent (LOI) for the acquisition of the Southern Star property, located 6.5 kilometres (km) south of the Fenelon/Tabasco deposit held by Wallbridge Mining Company. The Southern Star would bring the Company to a total of 10,677 hectares in the prolific district, as it has recently acquired the Northbound and Northbound Extension properties within the camp.
Great Thunder's President and CEO Richard Macey states, "The Southern Star acquisition, subject to a due diligence process, would significantly increase the Company's strategic position along the Detour trend belt as it would nearly quadruple our key land positioning. Such well positioned land holdings provide a greater opportunity for discovery potential. With Wallbridge & Balmoral on the road to combining their companies, if the due diligence of the Southern Star is positive and this transaction is completed, it would make Great Thunder one of the largest land holders in the newly developing Fenelon Gold Camp."
About the Fenelon Gold Camp
Over the course of last year, Wallbridge Mining has had tremendous recent success in the Fenelon gold camp. Wallbridge drilled 75,000m on their project last year and planned to increase to 100,000 - 120,000m of drilling throughout 2020 en route to their maiden-resource calculation. The Fenelon Project could have the potential to host one of Quebec's next major open-pitable high-grade gold deposits with the success Wallbridge is having. Last December, they reported drill intercept highlight grading of up to 22.73 g/t Au over 48.01 meters (Wallbridge Dec 3, 2019 press release) and a successful 33,233 tonnes at 18.49 g/t Au bulk sample result which met or exceeded their initial projections in terms of grade and gold recovery. This bulk sample also provided cash flow for their 2019 drilling of 75,000m.
The Jeremie Pluton Contact
Last year, Wallbridge's exploration program tested their 4-kilometre strike length of the Jeremie Pluton contact which trends north-west onto Great Thunder's Northbound Property. Wallbridge's first drill hole ("FA-19-089") tested the concept that the Jeremie Pluton does host high-grade mineralization similar to that of their Area 51 mineralization. Targeting a structural-geophysical target, Wallbridge successfully extended their high-quality exploration target far into the northern part of their Property.
Wallbridge's Drill Hole FA-19-089: Located 800m northwest of the currently known western extent of the Fenelon Gold System resulted in 83.18 g/t Au over 0.51m
Wallbridge's Drill Hole FA-19-095: Located 500m northwest of the currently known western extent of the Fenelon Gold System resulted in 5.05 g/t Au over 1.96m
Great Thunder's properties (Northbound, Northbound Extension) are underlain by Jeremie Pluton, an intrusive body becoming increasingly important at the contiguous Wallbridge Fenelon property, as highlighted above. Wallbridge's exploration in 2019 tested strike extensions to the north of the property of known mineralization from the metasediments and metavolcanics and gabbro into the Jeremie pluton. Wallbridge drilling to date 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.
Cautionary Statements: Great Thunder cautions investors that mineralization on Wallbridge's nearby property is not necessarily indicative of similar mineralization on Great Thunder's properties in the district.Image: https://www.accesswire.com/users/newswire/images/586046/0b69b86f-73b7-44c8-b5c8-5c1e7f16dbfb.jpegGreat Thunder's Map Displaying Jeremie Pluton Intrusive Body and the Companies Properties Next to Wallbridge's Fenelon Deposit
The Southern Star Property:
The Southern Star Property is made up of 146 claims which covers approximately 8,100 hectares (81km2). It shares a 7km adjacent border with Midland Exploration's recent claim acquisition announced April 2, 2020, expanding their Gaudet property.Image: https://www.accesswire.com/users/newswire/images/586046/e3abfaf3-f15b-42a1-990e-5868509a68bc.jpegGreat Thunder Signs LOI to Acquire the Southern Star Property which is +7,600 hectares 6.5km South of the Wallbridge Mining's Fenelon Deposit.