Great Thunder Gold Contemplates Spinout of Lithium Projects
Great Thunder Gold Contemplates Spinout of Lithium Projects
October 21st, 2020, Vancouver, British Columbia – Great Thunder Gold Corp. ( CSE: GTG OTC:
GTGFF FSE: M4KQ-FF) ( “ G r e a t T h u n d e r” o r t h e “ C o m p a n y” ) i s c o n t e m p l a t i n g t h e t r a n s fer of its
Canadian lithium exploration projects to a new subsidiary (a “SpinCo”) that would be spun out to
the shareholders of Great Thunder . The Company’s Board of Directors will evaluate the merits of
this transaction.
Highlights:
‐ Great Thunder can focus on the exploration and development of its gold projects situated
in the Fenelon Gold Camp and to pursue greater assets for potential acquisition.
‐ The lithium projects, currently 100%‐owned by Great Thunder Gold , c a n m o v e f o r w a r d ,
potentially garnering the value they deserve, as a lithium‐focused SpinCo with exploration
and development.
‐ Increase in positive demand from the Electric Vehicle/Battery manufacturers for lithium.
Great Thunder can make no assurance that a spinout will take place as it would be subject to several
conditions that include Board approval, satisfying the Canadian Securities Exchange (the “CSE”)
listing requirements, the assessment of legal and tax ramifications, determining final details of the
transaction, receipt of all regulatory approvals, any required shareholder approval, the availability
of financing for the new subsidiary, and market conditions. The Company will provide further details
if and when available in accordance with the policies of the CSE.
About the Lithium Projects
The Chubb and Bouvier lithium properties are located in the Preissac‐Lacorne plutonic complex of
the Abitibi Greenstone Belt near Val d’Or, Quebec. The Chubb Lithium Project is situated within
the Preissac‐Lacorne plutonic complex of the Abitibi Greenstone Belt, the complex forming one
of the best prospective areas for lithium mineralization. The plutonic complex generated the
Quebec Lithium Project – located 60 kilometres north of Val d’O r, Quebec – for which Canada
Lithium Corp. reported proven and probable reserves of 17.1 mil lion tonnes grading 0.94% Li 2O
according to a feasibility study update by Canada Lithium Corp. dated October 12, 2012.
The Chubb Lithium Project lies 32 kilometres north of Val d’Or and consists of 35 contiguous
recorded mineral claims with a total area of 1,509 hectares. The property’s geology is dominated
by quartz monzodiorite and metasomatized quartz diorite (tonalite). A swarm of spodumene‐rich
g r a n i t i c p e g m a t i t e d y k e s i n t r u d e f r a c t u r e s a n d s m a l l f a u l t s w i thin the plutonic rocks. The
pegmatite dykes are 1 to 6 metres thick, oriented 345° – 350° and vary in length from 25 to 250
metres. They are crudely zoned, some having quartz cores and border zones of aplite. The granitic
pegmatites are composed of quartz, albite and/or cleavelandite, K‐feldspar, muscovite, with 5 to
25% spodumene. There are three important granitic pegmatite dykes containing spodumene
mineralization (Dyke #1, #2 and Main Dyke).
Exploration of the Chubb Lithium Project persists since the early 1950s and has consisted mainly
of mapping, trenching, geophysical surveys, and diamond drilling. The best historical drilling
intersections were obtained in 1994 by Abitibi Lithium Corp., producing intervals of 3.72 m @1.78
wt. % Li2O, 2.75 m @1.00 wt. % Li2O and 2.38 m @1.25 wt. % Li2O. In 2010, Mineral Hill Industries
Ltd. carried out magnetic and IP geophysical surveys, mapping, channel sampling and grab
sampling in the area surrounding t he three principal spodumene‐ bearing dykes. The main dyke
– which is 300 m long – was shown to have Li2O concentration of 1.00 wt. % (n=41).
In December 2017, Great Thunder dr illed 3 holes for a total of 306 m. Hole C‐17‐01 returned
1.33% Li2O over 5.3 m from 55 to 60,3 m and 1,15% Li 2O over 2.1 m from 64 to 66.1 m and hole
C‐17‐02 gave 0.9% Li2O over 3.6 m from 32.8 to 36.4 m.
The Bouvier property is located within the Preissac‐Lacorne plutonic complex of the Abitibi
Greenstone Belt, in the Saint‐Mathieu municipality of Figuery To w n s h i p ( N T S m a p s h e e t ‐ 2 ‐
32D08). The geological setting and structure of the volcano‐sed imentary assemblages form an
ideal host for lithium‐rich pegmatites being located between th e Northern Manneville
Deformation Zone and the northern edge of the fertile Lacorne monzogranite pluton. The Bouvier
property consists of 16 contiguous recorded mineral claims for a total area of 692 hectares or
6.92 square kilometres. Spodumene‐bearing granitic pegmatite dykes occur only south of the
Manneville Fault and were emplaced principally in metasediments. The dykes are oriented
parallel to the Manneville Fault and can reach 100 m in length and 10 m in apparent thickness.
In 2010, Mineral Hill Industries Ltd. carried out an exploratio n program involving line cutting, a
magnetic and IP survey, trenching and panel and grab rock sampl ing. The work unearthed EW‐
oriented spodumene‐bearing granit ic pegmatites parallel to the Manneville Deformation Zone.
The main dyke displayed an average lithium concentration of 1.51 Li2O wt. % (n=20).
Qualified Person
Donald Théberge, P .Eng., M.B.A. 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.
About Great Thunder Gold
Great Thunder Gold is a junior Canadian mining exploration company focused on exploration and
development along the Detour Gold trend in Quebec. The Company is one of the largest mineral
claim holders next to the leading Wallbridge Mining (post‐comple t e d m e r g e r w i t h B a l m o r a l
Resources).
On Behalf of the Board of Directors,
GREAT THUNDER GOLD CORP .
“Blair Naughty”
President & CEO
Investor Relations
Email: [email protected]
Direct Line: (236) 513‐4653
www.greatthundergold.com
Forward-Looking Statement
This news release contains forward‐looking statements and forward‐looking information (collectively, "forward‐
looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than
statements of historical fact, included herein including, without limitation, statements regarding the planned spinout
of the Company’s lithium exploration projects to a new subsidiary, the listing of the shares of the new subsidiary on
a stock exchange, the future value of such shares and the acquisition of additional exploration projects, are forward‐
looking statements. Often, but no t a l w a y s , f o r w a r d l o o k i n g i n f ormation can be identified by words such as "pro
forma", "plans", "expects", "will", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases
that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved.
In making the forward‐looking statements in this news release, the Company has made certain assumptions,
including without limitation, the receipt of all necessary perm issions and regulatory approvals in connection with
the planned spinout and exploration project acquisitions, that the COVID‐19 global pandemic will not affect the
ability of the Company to carry out its plans, and the availability of financing on suitable terms.
Forward‐looking statements involve known and unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to d iffer materially from any future results,
performance or achievements expressed or implied by the forward‐looking statements. Such risks and other factors
include, among others, the abilit y of the Company’s proposed su bsidiary to obtain suffici ent financing to fund its
operations and planned exploration and to meet stock exchange listing requirements, delays in obtaining regulatory
and other approvals, changes in laws, regulations and policies affecting mining operations and public companies,
title disputes or claims, and environmental issues and liabilities.
Readers are cautioned not to place undue reliance on forward‐looking statements. The Company undertakes no
obligation to update any of the forward‐looking statements in t his news release except as otherwise required by
law.