Thunderstruck Announces Liwa Gold/Silver Prospect Exploration Financing
Thunderstruck Announces Liwa Gold/Silver
Prospect Exploration Financing
Vancouver, British Columbia--(Newsfile Corp. - September 20, 2021) -
Thunderstruck Resources
Ltd.
(TSXV: AWE) (OTC: THURF) (The "Company") wishes to announce a non-brokered private
placement (the "Placement") to raise up to CDN$750,000.00 for the expanded 2021 drilling and
exploration program at our 100% owned Liwa gold and silver prospect in Fiji. The Placement involves
the sale of up to 12,500,000 units at a price of $0.06 per unit. Each unit will comprise one common share
and one-half share purchase warrant. Each full warrant will entitle the holder to purchase a further
common share at a price of $0.15 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
$0.25 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. Finder's fees may be
payable on all or any portion of the Placement, which is subject to regulatory approval, including the
approval of the TSX Venture Exchange.
"Drilling is underway at our Liwa gold/silver prospect, and the first core has been sent for assay," stated
Thunderstruck's President/CEO Bryce Bradley, "Concurrently we're conducting a rock and soil sampling
program that will further determine the size and depth of this high-grade precious metals asset.
Past
sampling programs show a 3km strike length, and the team is working diligently to test these targets at
depth."
The company will also be extending the expiry date of an aggregate of 2,201,835 outstanding share
purchase warrants by two years. 1,250,000 warrants were originally issued on October 9, 2018 with an
original expiry date of October 9, 2021 and the remaining 951,835 warrants were originally issued on
November 9, 2018 with an original expiry date of November 9, 2021.
The new expiry date will be on
October 9, 2023 and November 9, 2023 respectively.
The warrants continue to be exercised at their
original exercise price of $0.15.
The amendment to the terms of the warrants is subject to TSX Venture
Exchange approval.
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
1.00 million tonnes at 8.48 g/t Au (274,600 ounces Au), and Inferred Resources of 1.33 million tonnes at
9.0 g/t Au (384,000 ounces Au) reported at a 3.0 g/t Au lower cutoff. 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."
For additional information, please contact:
Rob Christl, VP Business Development and Investor Relations
Email:
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/97017
.