News Releases
July 7, 2023 – Vancouver, British Columbia – Thunderstruck Resources Ltd. (The “Company”) announces, further to its press release dated July 6, 2023, it has closed an initial tranche of its previously announced non-brokered private placement (the “Placement”).
Gross proceeds of $80,499.90 were raised through the sale of 536,666 units at a price of $0.15 per unit (each a “Unit”). Each Unit comprised one common share and one share purchase warrant. Each whole warrant entitles the holder to purchase a further common share at a price of $0.20 per share until July 7, 2026. The warrants are subject to accelerated exercise provisions such that if the closing price of the Company’s common shares exceeds $0.30 per share for a period of 10 consecutive trading days, the Company may give notice of the acceleration of the warrants’ term to a period of 30 days following such notice.
Finder’s fees of $1,417.50 and 9,450 finder’s warrants, issuable on the same terms as the unit warrants, were paid in connection with the initial tranche of the Placement.
All securities issued in the first tranche are subject to a hold period in Canada expiring on November 8, 2023. Additional restrictions may apply pursuant to Rule 144 of the Securities Act of 1933, as amended, to U.S. investors.
Proceeds of the Placement will be applied to the Company’s current liabilities. The Placement is subject to regulatory approval, including the approval of the TSX Venture Exchange
Insiders participated in the Placement acquiring an aggregate of 201,666 units on the same basis as other subscribers. The participation in the Placement by insiders of the Company constitutes a "related party transaction" as such term is defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on exemptions from the formal valuation and minority approval requirements under MI 61-101. The Company relied on Section 5.5(a) of MI 61-101 for an exemption from the formal valuation requirement and Section 5.7(1)(a) of MI 61-101 for an exemption from the minority shareholder approval requirement of MI 61-101 as the fair market value of the Placement in so far as the Placement involved interested parties did not exceed 25% of the Company's market capitalization.
The Company will provide additional updates on the remaining tranches of the Placement in due course.
About Thunderstruck Resources
Thunderstruck Resources is a Canadian mineral exploration company focused on the discovery of high value gold-silver epithermal and copper-gold porphyry deposits on the main island of Viti Levu in Fiji.
Fiji has a long history of mining with over 75 years of activity at the prolific Vatukoula Gold Mine alongside several advanced development projects including Tuvatu (Lion One LIO:TSX.V), Indicated Resources of 1.00 Mt @ 8.48 g/t Au (274,600 oz), Inferred Resources of 1.33 Mt @ 9.0 g/t Au (384,000 oz) (Tuvatu-PEA-Update-NI-43-101) and Namosi (Newcrest Mining NCM:ASX), Proven, Measured and Indicated Resources of 1.8Bt at 0.35% Cu and 0.11 g/t Au (6.4M oz Au and 6.3Mt Cu) (Newcrest Annual Mineral Resources Update, June 2022).
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.”
For additional information, please contact:
Bryce Bradley, Chief Executive Officer
Email:
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.
June 29, 2023 – Vancouver, British Columbia – Thunderstruck Resources Ltd. (The “Company”) announces that it has arranged a private placement of up to $500,000.
The non-brokered private placement involves the sale of up to 3,333,333 units at a price of $0.15 per unit for aggregate gross proceeds of $500,000. Each unit will comprise one common share and one share purchase warrant. Each whole warrant entitles the holder to purchase a further common share at a price of $0.20 per share for a period of 36 months. The warrants will be subject to accelerated exercise provisions such that if the closing price of the Company’s common shares exceeds $0.30 per share for a period of 20 consecutive trading days, the Company may give notice of the acceleration of the warrants’ term to a period of 30 days following such notice.
Finder’s fees may be payable in accordance with the policies of the TSX Venture Exchange.
Proceeds of the placement will be applied to exploration programs for the Company’s Fiji properties and general working capital. The placement is subject to regulatory approval, including the approval of the TSX Venture Exchange.
Directors and officers of the Company may acquire securities under the Placement, which participation would be considered to be a “related party transaction” as defined under the Multilateral Instrument 61-101 (“MI 61-101”). Such participation is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.
The Company reserves the right to increase the number of Units issued pursuant to the Placement to up to 6,666,666 Units for up to total gross proceeds of $1 million.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available
About Thunderstruck Resources
Thunderstruck Resources is a Canadian mineral exploration company focused on the discovery of high value gold-silver epithermal and copper-gold porphyry deposits on the main island of Viti Levu in Fiji.
Fiji has a long history of mining with over 75 years of activity at the prolific Vatukoula Gold Mine alongside several advanced development projects including Tuvatu (Lion One LIO:TSX.V), Indicated Resources of 1.00 Mt @ 8.48 g/t Au (274,600 oz), Inferred Resources of 1.33 Mt @ 9.0 g/t Au (384,000 oz) (Tuvatu-PEA-Update-NI-43-101) and Namosi (Newcrest Mining NCM:ASX), Proven, Measured and Indicated Resources of 1.8Bt at 0.35% Cu and 0.11 g/t Au (6.4M oz Au and 6.3Mt Cu) (Newcrest Annual Mineral Resources Update, June 2022).
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.”
For additional information, please contact:
Rob Christl, VP Business Development and Investor Relations
Email:
P: 1-778 840-7180
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.
June 8, 2023 – Vancouver, British Columbia – Thunderstruck Resources Ltd. (“The Company”) is pleased to announce that recent data compilation on the company’s Rama copper/gold porphyry indicates an anomalous signature extending 2.5 km x 2 km and open in all directions.
Previous interpretations had indicated an anomalous zone of 800 meters in diameter.
The expansion of the Rama target comes with the addition of historic sampling data done by Anglo in the 1970s, as well as recent work by Thunderstruck establishing a clear link between higher-level, gold-rich disseminated mineralisation located at high-elevations on the Senikura ridge to the south (see Figure 1). In short, both prospect areas now appear to represent the same very large, porphyry-related hydrothermal system.
The Company’s recently hired in-house geologist, Huw Williams, who will be based in Fiji, is highly experienced in both epithermal and porphyry systems.
“We welcome Huw to the Thunderstruck team, and are thrilled to have such an experienced geologist who loves to be in the field. Huw brings a wealth of experience in both epithermal deposits like our Liwa asset and porphyries like Rama. He is based in Fiji, and heads to the field this week to oversee our Liwa and Rama exploration efforts
Figure 1 Rama and gold-rich Senikura zone to the South
About Rama
Rama is a classic Cu-Au porphyry system akin to Newcrest’s Namosi (900Mt @ 0.43% Cu & 0.15g/t Au, based on 1995 economics and feasibility studies), located 30 km to the east in similar aged and style of rocks (see Figure 2). Rama’s Cu-Au (chalcopyrite-bornite-pyrite) mineralisation is spatial and temporally associated with secondary magnetite alteration and features classic porphyry-related alteration zonation, including potassic and phyllic (sericitic) alteration.
Geochemistry collected across the Rama area historically by Anglo, and more recent data collected by Thunderstruck at the southern Senikura zone, indicates extensive disseminated gold mineralisation with a partially exposed porphyry system and open in all directions.
Figure 2 Rama is located 30km from Newcrest’s Namosi project
About Thunderstruck Resources
Thunderstruck Resources is a Canadian mineral exploration company focused on the discovery of high-value mineral deposits on Fiji’s main island of Viti Levu. Fiji has a long history of mining, including the Vatukoula Gold Mine which has already produced seven million ounces. Other Fiji deposits include Lion One’s Tuvatu gold mine, which has just commenced mining, and the 1.8 billion tonne Namosi porphyry copper-gold deposit of Newcrest Mining.
Thunderstruck has exclusive exploration rights over 284 square kms, making it one of the largest holders of mineral rights in Fiji. Projects include gold-silver epithermal and copper-gold porphyry targets along with the two VMS projects.
The Company provides investors with exposure to a diverse portfolio of exploration projects with potential for copper, zinc, 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.”
For additional information, please contact:
Rob Christl, VP Business Development and Investor Relations
Email:
P: 1-778 840-7180
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.
- Induced polarisation (IP) geophysical survey supports drill target at Nakoro project in Fiji.
- Chargeability/resistivity target is coincident with gossan and surface sampling.
- U.S. State Department Minerals Program Director visiting Thunderstruck projects in relation to its critical minerals initiative.
Vancouver, British Columbia--(Newsfile Corp. - April 20, 2023) - Thunderstruck Resources Ltd. (TSXV: AWE) (OTC PINK: THURF) ("The Company") reports that the scope for a substantial increase in the scale of the Nakoro zinc/copper/silver prospect has been provided through a recent IP geophysical survey.
Nakoro is one of four projects being advanced by Thunderstruck on the main island of Fiji. The current work follows up on exploration by Anglo Pacific in the 1970s. Historic drilling includes 12 meters grading 12.7% zinc, 0.3% copper, 56 g/t silver. Volcanic Massive Sulphides (VMS) deposits, like this one at Nakoro, typically occur in clusters. The work by Thunderstruck is aimed at expanding outward from the area of the historic work.
Lawrence Roulston, Director, commented: "These results show the potential for size in a deposit where earlier drilling has already demonstrated favourable grades."
Nakoro Prospect - IP Geophysics
The recent IP survey outlined a chargeability/resistivity target 200 meters from the area of historic drilling by Anglo where Thunderstruck geologists identified outcropping mineralization and gossans. (See Figure 1 below).
Zonge Engineering, a highly regarded international firm specializing in geophysics, conducted the IP survey utilizing a pole-dipole electrode configuration with electrodes spaced at 50m (dipoles) along 200m spaced lines. The survey included a total of 2.5-line kilometres across two lines and identified multiple geophysical features to assist interpretation and target definition.
The survey has successfully identified a priority drill target that aligns with the mineralization at surface. The chargeability/resistivity signature is characteristic of VMS targets. Figure 3 shows the chargeability and resistivity profiles along the two lines.
Figure 1: Summary map of Nakoro Prospect, showing location of previous drilling, geology and completed PDIP surveying coverage
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2901/163144_7f3c2e891496ebb0_002full.jpg
Further areas of gossan and mineralization at surface offer further upside potential and will be followed up after drill testing this target.
Figure 2: Map of Nakoro showing newly mapped area and some points of Interest.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2901/163144_7f3c2e891496ebb0_004full.jpg
Thunderstruck's geological team carried out further geological mapping and sampling at Nakoro, which features an 8 km untested prospective geologic horizon highlighted through the interpretation of regional magnetics. (See Figure 2.) That work revealed a significant extension to the mineralized system at Nakoro. Extensive gossan outcrops were discovered along the Navakaruku creek area with one instance of massive sulphide mineralization associated with quartz veins within the gossan. The gossans are associated with strong limonite staining and small chlorite-epidote veinlets and amygdules. These results are typical for a VMS system, which typically occur in clusters.
Figure 3: Nakoro Prospect - Pole-Dipole IP Chargeability, Resistivity/Conductivity 2D Inversions
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2901/163144_thunderstruck_fig3.jpg
Site Visit by U.S. State Department
At the request of the U.S. State Department Minerals Program Director, the director and his team plan to visit Thunderstruck's copper-zinc VMS projects in April as part of the on-going efforts by the U.S. Government to expand supplies of critical raw materials from reliable sources. The purpose of their visit is to learn more about Fiji's mineral sector and discuss potential opportunities. Thunderstruck, as a leading explorer in Fiji, is hosting part of the visit intended to inform the U.S. Government of the critical resource potential of Fiji.
Share Consolidation Update
Thunderstruck Resources Ltd. (The "Company") is pleased to announce that it has received the approval from the TSX Venture Exchange for the previously announced five to one share consolidation (the "Consolidation"),as previously announced on April 10, 2023.
The common shares will commence trading on a post-consolidation basis effective as at April 24, 2023. Post consolidation, the Company will have approximately 25,402,562 shares outstanding. The Company's shares will continue to trade under the existing symbol "AWE". The CUSIP and ISIN of the Company's shares will change to 88606V203 and CA 88606V2030 respectively.
As previously announced, a letter of transmittal will be sent by the Company's transfer agent, Odyssey Trust Company, to the registered shareholders providing instructions to surrender the share certificates evidencing their pre‐consolidated common shares for replacement certificates representing the number of post‐consolidated common shares they are entitled to as a result of the consolidation. Until surrendered, each certificate representing the pre‐consolidated common shares will be deemed to represent the number of post‐consolidated common shares of the company that the holder thereof is entitled to as a result of the consolidation.
Warrant Price Update
Further to Thunderstruck's news release dated, April 10, 2023, please note that the full warrant attached to the private placement is 0.50 per unit, not 0.75. We apologize for the error.
About Thunderstruck Resources
Thunderstruck Resources is a Canadian mineral exploration company focused on the discovery of high-value mineral deposits on Fiji's main island of Viti Levu. Fiji has a long history of mining, including the Vatukoula Gold Mine which has already produced seven million ounces. Other Fiji deposits include Lion One's Tuvatu gold mine, which has just commenced mining, and the 1.8 billion tonne Namosi porphyry copper-gold deposit of Newcrest Mining.
Thunderstruck has exclusive exploration rights over 284 square kms, making it one of the largest holders of mineral rights in Fiji. Projects include gold-silver epithermal and copper-gold porphyry targets along with the two VMS projects.
The Company provides investors with exposure to a diverse portfolio of exploration projects with potential for copper, zinc, gold and silver in a politically safe and stable jurisdiction.
Thunderstruck trades on the Toronto Venture Exchange (TSXV) under the symbol "AWE" and United States OTC under the symbol "THURF."
Qualified Person Statement
The technical information in this news release was reviewed by Peter Duerden, RPGeo, an advisor to Thunderstruck Resources, and a qualified person as defined by National Instrument 43-101 (NI 43-101).
For additional information, please contact:
Rob Christl, VP Business Development and Investor Relations
Email:
P: 1-778 840-7180
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/163144
Vancouver, British Columbia--(Newsfile Corp. - April 13, 2023) - Thunderstruck Resources Ltd. (TSXV: AWE) (OTC: THURF) (The "Company") is pleased to provide the following corporate updates.
Advisory Board Appointment
The Company is excited to announce that Mr. Eric Roth will be joining its Advisory Board.
Eric holds a Ph.D. in Economic Geology from the University of Western Australia and is an economic geologist with over 30 years of experience in international minerals exploration and mining project evaluation. He is also a Fellow of the Australian Institute of Mining and Metallurgy (FAusIMM).
Mr. Roth is currently the President and CEO of Capella Minerals and Non-Executive Director of Awale Resources Ltd.
His past successes include the following:
- COO of Mariana Resources Ltd - acquired by Sandstorm Gold Royalties in July 2017 for the high-grade Hod Maden copper-gold discovery in NE Turkey.
- CEO of Aegean Metals Group - original acquirer of the Hod Maden project
- President/CEO of Extorre Gold Mines Ltd and the high-grade Cerro Moro gold-silver deposit in Argentina - acquired by Yamana Gold in 2012 for C$440 million.
- Global Head of Greenfields Exploration for AngloGold Ashanti, whose teams brought in over 20+Moz Au in new Inferred Resources through discoveries in Colombia (Colosa, Gramalote), Australia (Tropicana), and the DRC (Mongwalu) at a discovery cost of less than US$15/oz.
- Aur Resources - discoverer of the high-grade Louvicourt VMS deposit Val d'Or, Quebec.
President/CEO of Thunderstruck Resources, Bryce Bradley stated, "We are at a turning point in the growth of our company where, with a drill and team ready at our three-kilometer-long Liwa gold/silver anomaly, Eric's experience and expertise in discovering major gold deposits will greatly aid our efforts this season."
Chief Financial Officer Appointment
The Company also announces the following changes to its management team.
Mr. Bobby Dhaliwal, Thunderstruck's corporate accountant based at Company headquarters in Vancouver BC, will take over the role of CFO effective April 13, 2023.
Mr. Dhaliwal holds a Bachelor of Accountancy as well as the designation of Chartered Professional Accountant (CPA) in Canada, working with several TSX-V and CSE listed companies in the resources and technology sector.
His professional experience with exploration and mining companies includes assistance on initial public offerings (IPO), continuous disclosure and financial reporting, implementation of accounting software, various equity financings and implementation of internal control policies.
Mr. Wilson Michael, formerly CFO, will continue in his role as Director of the Company's subsidiary, Thunderstruck Pte Ltd.
"Wilson has been diligently working in Fiji with us for several years in the dual capacities of CFO as well as Director of our Fijian subsidiary," stated Bryce Bradley, President/CEO. "Fortunately, as the Company grows so does our capacity to delineate roles and responsibilities more clearly. With a very busy exploration season ahead of us, Wilson will be instrumental to the success of our in-country operations as Bobby takes on the responsibilities of CFO from our Canadian headquarters."
About Thunderstruck Resources
Thunderstruck Resources is a Canadian mineral exploration company focused on the discovery of high value gold-silver epithermal and copper-gold porphyry deposits on the main island of Viti Levu in Fiji.
Fiji has a long history of mining with over 75 years of activity at the prolific Vatukoula Gold Mine alongside several advanced development projects including Tuvatu (Lion One), Indicated Resources of 1.00 Mt @ 8.48 g/t Au (274,600 oz), Inferred Resources of 1.33 Mt @ 9.0 g/t Au (384,000 oz) (Tuvatu-PEA-Update-NI-43-101) and Namosi (Newcrest Mining), Proven, Measured and Indicated Resources of 1.8Bt at 0.35% Cu and 0.11 g/t Au (6.4M oz Au and 6.3Mt Cu) (Newcrest Annual Mineral Resources Update, June 2022).
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."
For additional information, please contact:
Rob Christl, VP Business Development and Investor Relations
Email:
P: 1-778 840-7180
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/162272