News Releases

January 7, 2020 – Vancouver, British Columbia – Thunderstruck Resources Ltd. (the “Company”; TSX-V: AWE, OTC: THURF) advises, further to its press release dated December 17, 2019, that it has closed an initial tranche of its previously announced non-brokered private placement (the “Placement”).

Gross proceeds of $165,855.75 were raised through the sale of 3,315,707 units at a price of $0.05 per unit (each a “Unit”). Each Unit comprised one common share and one half of one share purchase warrant. Each whole warrant entitles the holder to purchase a further common share at a price of $0.10 per share until January 5, 2023. The warrants are subject to accelerated exercise provisions such that if the closing price of the Company’s common shares exceeds $0.25 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.

No finder’s fees were payable in connection with the Placement.

All securities issued in the first tranche are subject to a hold period in Canada expiring on May 7, 2020. 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 exploration programs for the Company’s Fiji properties and general working capital.

Insiders participated in the Placement acquiring an aggregate of 600,000 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.

About Thunderstruck Resources

Thunderstruck Resources is a Canadian mineral exploration company that has assembled extensive and highly prospective properties in Fiji on which recent and previous exploration has confirmed VMS, copper and precious metals mineralization.  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, Investor Relations
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
P: 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.

December 17, 2019 – Vancouver, British Columbia – Thunderstruck Resources Ltd. (“Thunderstruck”; TSX-V: AWE, OTC: THURF) announces that it has arranged a private placement of up to $250,000.

The non-brokered private placement involves the sale of up to 5,000,000 units at a price of $0.05 per unit for aggregate gross proceeds of $250,000. Each unit will comprise one common share and one half of one share purchase warrant. Each whole warrant entitles the holder to purchase a further common share at a price of $0.10 per share for a period of 36 months.   The warrants are subject to accelerated exercise provisions such that if the closing price of the Company’s common shares exceeds $0.25 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.

“Thunderstruck has a robust exploration program planned for 2020.” stated Bryce Bradley, Thunderstruck’s President/CEO, “We’ll begin drilling again early January on our Korokayiu zinc/copper/gold/silver asset, and have plans to advance our gold asset at Liwa Creek later in the season.”

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.

About Thunderstruck Resources
Thunderstruck Resources is a Canadian mineral exploration company that has assembled extensive and highly prospective properties in Fiji on which recent and previous exploration has confirmed VMS, copper and precious metals mineralization.  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, Investor Relations
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
P: 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.

Vancouver, British Columbia--(Newsfile Corp. - December 11, 2019) - Thunderstruck Resources Ltd. (TSXV: AWE) (OTC: THURF) (The "Company") is pleased to report that the first two drill holes on its Korokayiu Joint Venture (JV) zinc-copper volcanogenic massive sulphide (VMS) prospect confirm historic results reported by Anglo American over 40 years ago which outlined a significant zinc-copper-silver-gold VMS system. Assays are pending for another 5 holes.

Based on these positive results, the joint venture partner JOGMEC is presently working with Thunderstruck on details of an aggressive 2020 drill program.

Drill hole WLK14B intersected 14.5% Zinc (Zn), 2.35% Copper (Cu), 111 grams-per-tonne Silver (g/t Ag), and 0.66 g/t Gold (Au) over a drill core interval of 6.31 metres¹; within a broader zone of mineralization returning 9.5% Zn, 1.87% Cu, 55 g/t Ag, and 0.48 g/t Au over a 10.55-metre core interval (Table 1 and Figure 1). WLK14B (-60^o dip / 334^o azimuth) was drilled beneath the Korokayiu VMS Discovery Outcrop to verify historical drill intercepts reported by Anglo American. The mineralization is hosted by intensely altered fragmental volcanoclastic dacite hosting massive sphalerite-chalcopyrite-pyrite mineralization.

Drill hole WLK14A was designed to test the depth extent of high-grade massive sulphide mineralization intersected in WLK14B 40 metres down dip on section. WLK14A (-90^o dip) intersected hanging wall basalt-andesite rocks directly overlying a shear and faulted contact zone beneath which dacitic volcanoclastic rocks hosting disseminated chalcopyrite-pyrite mineralization assayed 2.0% Cu, 0.11% Zn, 60 g/t Ag, and 0.51 g/t Au over a drill core interval of 3.35 metres¹, within a broader zone of mineralization assaying 1.2% Cu, 0.3% Zn, 28 g/t Ag, and 0.23 g/t Au over 8.38 metres.

Bryce Bradley, Thunderstruck's President/CEO, stated, "Thunderstruck is pleased with the initial drill results at Korokayiu which have confirmed the presence of high grade copper-zinc massive sulphide mineralization. With the last drilling on this prospect occurring over 40 years ago, and with no historic drill core remaining, we knew our first task would be to verify some of the key historically reported drill intercepts and provide new drill core to bring the significance of the Korokayiu discovery to light. We look forward to receiving additional drill results in the coming weeks that include further drilling on this section and step-outs to the east."

Table 1: Korokayiu Cu-Zn Deposit 2019 Diamond Drill Intercepts

¹The true width of mineralization is estimated to be 80-100% of the drilled interval

The 2019 Korokayiu Joint Venture (JV) zinc-copper volcanogenic massive sulphide (VMS) prospect diamond drill program comprised 7 drill holes totaling 904 metres designed to verify the presence of historically reported copper-zinc massive mineralization and further test the extent of the deposit area. The 2019 diamond drill program has now paused for the holiday break and is expected to resume in early January, 2020. The drilling is funded by Japan Oil Gas and Metals National Corporation (JOGMEC), a Japanese company funded by the national government with the intent of discovering large-scale mineral deposits that will benefit Japanese industry.

"JOGMEC is currently in Fiji with Thunderstruck planning our 2020 drill program with a minimum expenditure of $1,500,000 to further test the depth and size of Korokayiu," Bradley added. "Positive results may accelerate the program and increase expenditures."

Figure 1: Korokayiu 2019 Diamond Drill Section

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2901/50687_b381f3acf4ec998e_001full.jpg

About Fiji

Viti Levu, the main island of Fiji, has a long mining history. It is on the prolific Pacific Ring of Fire, a trend that has produced numerous large deposits, including Porgera, Lihir and Grasberg. The island of Viti Levu hosts Namosi, held by a joint venture between Newcrest and Mitsubishi. Newcrest published Proven and Probable Reserves for Namosi of 1.3 billion tonnes at 0.37% Cu and 0.12 g/t Au (5.2M ounces Au and 4.9M tonnes Cu). Namosi is now undergoing environmental assessment as part of the permitting process. Lion One Metals is now developing its Tuvatu Project, with Indicated Resources of 1.1 million tonnes at 8.17 g/t Au (294,000 ounces Au), and Inferred Resources of 1.3 million tonnes at 10.6 g/t Au (445,000 ounces Au). The Vatukoula Gold Mine has been operating for 80 years, producing in excess of 7 million ounces.

About Thunderstruck Resources

Thunderstruck Resources is a Canadian mineral exploration company that has assembled extensive and highly prospective properties in Fiji on which recent and previous exploration has confirmed zinc, copper and precious metals mineralization. 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."

Methodology and QA/QC

The analytical work reported on herein was performed by Australian Laboratory Services Pty. Ltd. (ALS) at Perth, WA. ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited geoanalytical laboratory and is independent of the Thunderstruck Resources and the QP. Drill core samples were subject to crushing at a minimum of 70% passing 2 mm, followed by pulverizing of a 250 gram split to 85% passing 75 microns (PREP-31). A 0.25 gram sample pulp was then subject to 4-acid (HF-HNO₃-HClO₄) digestion and analysis via 33 element ICP-AES analysis (ME-ICP61) for base metals and silver, and 30 gram fire assay fusion (Au-AA25) for gold determination. Base metal over limit values returning greater than 1%, or greater than 100 g/t for silver, were analyzed by four-acid digestion of a 0.40 gram sample pulp, followed analysis via ICP-AES (ME-OG62).

Thunderstruck Resources follows industry standard procedures for the work carried out on the Korokayiu prospect, with a quality assurance/quality control (QA/QC) program. Blank, duplicate and standard samples were inserted into the sample sequence sent to the laboratory for analysis. Thunderstruck Resources detected no significant QA/QC issues during review of the data. Thunderstruck Resources is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data referred to herein.

Qualified Person Statement

Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, is a qualified person for the project as defined by National Instrument NI 43-101. Mr. Raffle has reviewed and approved the portion of the technical content of this news release as it relates to Korokayiu VMS prospect.

For additional information, please contact:
Rob Christl, Investor Relations
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
P: 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/50687

October 24, 2019 – Vancouver, British Columbia – Thunderstruck Resources Ltd. (The “Company”) is pleased to announce the ground gravity geophysical survey results on its Korokayiu Joint Venture (JV) zinc-copper volcanogenic massive sulphide (VMS) prospect. The geophysical survey was successful in identifying several gravity anomaly targets including:

• An east-northeast trending gravity anomaly coincident with the historically drilled Korokayiu massive zinc-copper sulphide deposit,
• Multiple untested gravity anomalies coincident with the mapped continuation of the interpreted Korokayiu VMS horizon extending northeast over a combined 1.4 km strike length

The recently completed ground gravity geophysical survey comprised a total of 569 stations collected over an area of approximately 100 hectares at an irregular grid spacing averaging approximately 40 metres.

Bryce Bradley, Thunderstruck’s President/CEO, stated “With a proven high-grade zinc/copper target that was drilled over 40 years ago, this new gravity survey already shows 1.4km length strike potential of the favourable host structure.” She continued, “The goal of the current drilling campaign is to help confirm the potential of this exciting prospect.”

The geophysical survey successfully imaged the Korokayiu Deposit, which presents as a 61 milligal (mGal), northeast-trending bouger gravity anomaly having dimensions of approximately 300 x 30 metres coincident with the drilled extend of massive copper-zinc mineralization.  Subsurface gravity inversion model results reveal an approximately 350-metre strike length untested greater than 300 kg/m³ density contrast anomaly having an apparent shallow, southwest plunge extending to a vertical depth of 200 m down-dip of historical drill holes WLK-5, 6 and 7 at the current western limit of the deposit (Figure 1).

In addition, multiple unexplained >300 kg/m³ density contrast gravity inversion anomalies occur along strike over a combined distance of approximately 1.4 km northeast of the Korokayiu deposit, coincident with the mapped continuation of the Korokayiu VMS horizon (Figure 2). These anomalies are associated with anomalous historical zinc in trench rock and soil geochemical responses. In addition, a single, circa 1981, shallow 26-metre vertical core hole (W1500/9) drilled for the purpose of geologic mapping control was collared approximately 60 metres east of one of the anomalies and intersected intensely clay sericite-altered dacite rock containing 2-3% pyrite-sphalerite-chalcopyrite mineralization over a 0.9-metre interval at a depth of 16.2 metres.  The true width of the interval is unknown and there is no record of the core being submitted for assay.

Figure 1: Korokayiu Cu-Zn Deposit Long Section Gravity Inversion

Figure 2: Korokayiu VMS Horizon Long Section Gravity Inversion

Korokayiu Diamond Drilling Update

Thunderstruck is also pleased to provide an update on the status of the 2019 diamond drill program.  The third drill hole of the program recently commenced and logging and sampling of the drill core at the Korokayiu field camp is underway in preparation for shipping of samples for analysis.

Please join us at the New Orleans Investment Conference November 1- 4, 2019, booth #112. www.neworleansconference.com

About Fiji

Viti Levu, the main island of Fiji, has a long mining history. It is on the prolific Pacific Ring of Fire, a trend that has produced numerous large deposits, including Porgera, Lihir and Grasberg. The island of Viti Levu hosts Namosi, held by a joint venture between Newcrest and Mitsubishi. Newcrest published Proven and Probable Reserves for Namosi of 1.3 billion tonnes at 0.37% Cu and 0.12 g/t Au (5.2M ounces Au and 4.9M tonnes Cu). Namosi is now undergoing environmental assessment as part of the permitting process. Lion One Metals is now developing its Tuvatu Project, with Indicated Resources of 1.1 million tonnes at 8.17 g/t Au (294,000 ounces Au), and Inferred Resources of 1.3 million tonnes at 10.6 g/t Au (445,000 ounces Au). The Vatukoula Gold Mine has been operating for 80 years, producing in excess of 7 million ounces.

About Thunderstruck Resources

Thunderstruck Resources is a Canadian mineral exploration company that has assembled extensive and highly prospective properties in Fiji on which recent and previous exploration has confirmed zinc, copper and precious metals mineralization. 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.”

Methodology and QA/QC

Gravity survey measurements were collected using two Scintrex CG-5 gravimeters augmented with precision station location and elevation data provided from conventional surveying instruments and post-processed GNSS (Global Navigation Satellite System) receivers. Repeat readings of approximately 10% were collected and found to be of excellent quality and repeat reading differences had an average value of 0.01 mGal. Geosoft Oasis Montaj^® software was used to merge gravity reading and station location and to perform tide, instrument height, drift, latitude, free-air, simple and complete bouger, and terrain correction. GROWTH2.0 software was used to generate an unconstrained 3D inversion model of the subsurface densities using the complete bouger data at 2400 kg/m³ density. The resulting 3D inversion model highlights zones of increased density contrast ranging from 30 kg/m3 up to 400 kg/m³.

Qualified Person Statement

Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, is a qualified person for the project as defined by National Instrument NI 43-101. Mr. Raffle has reviewed and approved the portion of the technical content of this news release as it relates to Korokayiu VMS prospect.

For additional information, please contact:                      

Rob Christl, Investor Relations

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

P: 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.

Table 1: 2019 Selected Liwa Creek Rock Sample Results

“We continue to receive very encouraging early-stage results from our Liwa Creek gold prospect, and are looking forward to drilling it,” notes Bryce Bradley, Thunderstruck CEO. “While exploration on our Korokayiu zinc/copper project, joint-ventured with JOGMEC, continues apace, we are also actively working to advance our other exciting prospects, most notably Liwa Creek. These latest high-grade results support our very positive view of Liwa’s prospectivity.”

About Fiji

Viti Levu, the main island of Fiji, has a long mining history. It is on the prolific Pacific Ring of Fire, a trend that has produced numerous large deposits, including Porgera, Lihir and Grasberg. The island of Viti Levu hosts Namosi, held by a joint venture between Newcrest and Mitsubishi. Newcrest published Proven and Probable Reserves for Namosi of 1.3 billion tonnes at 0.37% Cu and 0.12 g/t Au (5.2M ounces Au and 4.9M tonnes Cu). Namosi is now undergoing environmental assessment as part of the permitting process. Lion One Metals is now developing its Tuvatu Project, with Indicated Resources of 1.1 million tonnes at 8.17 g/t Au (294,000 ounces Au), and Inferred Resources of 1.3 million tonnes at 10.6 g/t Au (445,000 ounces Au). The Vatukoula Gold Mine has been operating for 80 years, producing in excess of 7 million ounces.

About Thunderstruck Resources

Thunderstruck Resources is a Canadian mineral exploration company that has assembled extensive and highly prospective properties in Fiji on which recent and previous exploration has confirmed zinc, copper and precious metals mineralization. The Liwa Creek gold prospect and Rama Creek copper/gold porphyry are two of the Company’s four distinct projects. 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.”

Figure 1: 2019 Liwa Creek Prospect Rock Sample Results

 
 

Qualified Person Statement

Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, is a qualified person for the project as defined by National Instrument NI 43-101. Mr. Raffle has reviewed and approved the portion of the technical content of this news release as it relates to the Liwa Creek Prospect. During 2019 all stream sediment samples were submitted to Australian Laboratory Services Pty. Ltd (ALS) labs Perth for 30g gold Fire-Assay analysis and multi-element geochemistry by four-acid ICP-MS. Given the reconnaissance nature of the samples, Thunderstruck has relied on the external QA/QC of ALS which included the insertion of standard, blank and duplicate samples at a rate of 10% into the sample stream to confirm the accuracy of the reported results. ALS is independent of Thunderstruck and the QP.
 
For additional information, please contact:
Rob Christl, Investor Relations
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
P: 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.