Thunderstruck Resources: Field Work Advances Multiple Precious and Base Metals Targets A Large Porphyry System, a Broad Gold Mineralized Zone and a Zinc-Copper Zone Are Included Among Targets Now Being Worked
Thunderstruck Resources: Field Work Advances Multiple
Precious and Base Metals Targets
A Large Porphyry System, a Broad Gold Mineralized Zone and a Zinc-Copper
Zone Are Included Among Targets Now Being Worked
Vancouver, British Columbia--(Newsfile Corp. - May 17, 2018) -
Thunderstruck Resources Ltd.
(TSXV: AWE) (The
"Company" or "Thunderstruck") is pleased to announce that field operations are well underway on its 100% owned high grade
zinc, copper and gold assets in Viti Levu, Fiji. The present work is building on extensive prior results that point to the potential for
large mineralized systems.
"Our exploration season is now in full swing, and we have initiated multiple exploration activities across all of our four primary
assets," commented Thunderstruck's President and CEO Bryce Bradley.
"A detailed mapping program of Rama Creek has begun which will follow up on the recent Senikura gold zone discovered
nearby.
Concurrently, road building into Rama Creek should be completed by the end of May, making it easier to get larger rigs
onto the property later in the season. In addition, preliminary mineralogical tests from our Wainaleka VMS project indicate great
potential to produce zinc and copper concentrates via conventional flotation, which is a critical precursor to mine development."
"Elsewhere, further work on our high-grade Liwa Creek gold prospect will begin shortly, and we'll be giving all of our zinc, copper
and gold assets much deserved attention this season, with plenty of news flow forthcoming. This is the first year that
Thunderstruck has had the entire land package under its control and can meaningfully advance the various targets. The
enthusiasm around this program has prompted investors to request a private placement, at above market, which we have
agreed to."
RAMA CREEK COPPER-GOLD PORPHYRY
AND
SENIKURA GOLD ZONE
During December 2017, field crews carried out a soil program to determine the limits of the broad copper-gold (Cu-Au)
mineralized porphyry intrusive at Rama Creek. Originally discovered by Anglo American in the 1970s, subsequent work,
including drilling and trenching, outlined a broad porphyry system. The recent work was successful in establishing a framework of
porphyry hydrothermal alteration zonation that is helping to understand the geometry of the system and will serve as a vector to
define the core of the mineralized system.
Field crews collected a total of 112 ridge-and-spur auger soil samples that were subsequently submitted for gold and multi-
element geochemical and TerraSpec
®
Short Wave Infrared (SWIR) spectral analysis. Of the 112 auger soil geochemical
samples collected over the interpreted extent of the Rama Creek Porphyry, a total of 18 samples returned greater than 50 parts-
per-billion (ppb) Au and up to 0.76 grams-per-tonne (g/t) Au; and a total of 31 samples returned greater than 500 parts-per-
million (ppm) Cu and up to 0.56% Cu. In conjunction with a previous 126 targeted auger soils collected by the Company, an 18-
sample subset of which yielded an average of 0.27% Cu and 0.15 g/t Au (
see the Company's March 1, 2018 News Release
),
the current soil samples define an approximately 1,000 x 600 metre (m) greater than 200 ppm Cu in soil anomaly containing a
northwest elongate 500 x 300 m greater than 50 ppb Au in soil geochemical response coincident with the inferred centre of the
Rama Creek intrusion (Figures 1 and 2).
Figure 1: 2017 Soil Geochemical Results (Copper) and SWIR Interpretation
To view an enhanced version of Figure 1 please visit:
https://orders.newsfilecorp.com/files/2901/34716_Figure1_Rama_Soils_Cu.jpg
Figure 2: 2017 Soil Geochemical Results (Gold) and SWIR Interpretation
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/2901/34716_Figure2_Rama_Soils_Au.jpg
TerraSpec
®
SWIR spectral analyses define a sericite (white mica) alteration halo that is coincident with the plus-200 ppm Cu in
soil geochemical anomaly. The plus-50 ppb Au geochemical target is associated with a northwest elongate magnesium-chlorite
spectral response. Gold in soils exceeding 100 ppb (six samples in total) are coincident with a 300 x 200 m area of higher-
temperature potassic (magnesium-iron chlorite + biotite) alteration containing historic Australian Anglo American Ltd (Anglo)
diamond drill hole "DDH1" that returned a 244-metre interval between depths of 6 and 250 m averaging 0.22% Cu, ending in
mineralization (Figures 1 and 2).
Interpretation
The results of the soil geochemical and SWIR spectral analysis program were successful in defining a near-surface expression
of porphyry Cu-Au mineralization at Rama Creek. The application of modern SWIR spectral analysis in particular has added
critical evidence of porphyry hydrothermal alteration zonation comprising distal weak to moderately chlorite-pyrite altered diorite
intrusive and host volcanic rocks, to pervasive proximal sericite and core zone potassic altered porphyry intrusive.
The subsurface geometry and depth extent of the Rama Creek Cu-Au porphyry has not been determined. Historic drilling by
Anglo has shown disseminated Cu-Au mineralization extends to a vertical depth of at least 250 m, and is open at depth and in all
directions.
In addition to the Rama Creek Porphyry Cu-Au target, the recent soils samples have provided additional resolution on the
Company's emerging
Senikura Gold Zone
target that returned trench rock channel sample results averaging 0.96 g/t Au over
11.1 m (38.5 to 49.6 m), within a broader anomalous gold zone averaging 0.55 g/t Au over 37.6 m (12 to 49.6 m). At a distance
of 700 m to the northwest, a series of 10 auger soils spanning the southwest contact zone of the intrusion returned anomalous
gold values averaging 0.063 g/t Au (63 ppb Au), including two samples returning 0.1 and 0.2 g/t Au (
see the Company's March
1, 2018 News Release
). Together these two gold occurrences define an apparently northwest trending gold zone along the
margin of the Rama Creek Porphyry that is open to the northwest and southeast into the headwaters of Senikura Creek.
Moving Forward, the Company has commenced road rehabilitation and construction to establish vehicle access to the Rama
Creek Prospect in support of 2018 field programs. The present program will include additional Bulk Leach Extractable Gold
(BLEG) stream geochemical sampling in the headwaters of Rama Creek to the northwest of the Rama Porphyry and the
potential strike extent of Senikura Gold Zone; an expanded auger soil geochemical program designed to test the southeast
extent of the Senikura Gold Zone; follow-up on an historic Senikura East gold in soil anomaly located a further 1.5 km to the
southeast (12 consecutive 100 m spaced auger soils over 1.2 km returning an average of 67 ppb Au) (
see the Company's
March 1, 2018 News Release
); detailed geologic mapping, prospecting; and Induced Polarization (IP) / Resistivity geophysical
surveys towards modelling the subsurface geometry of disseminated Cu-Au bearing sulphide mineralization and generation of
finalized diamond drill targets.
WAINALEKA ZINC-COPPER VMS
During March 2018, the Company engaged SGS Canada Inc. (SGS) to complete a QEMSCAN (Quantitative Evaluation of
Minerals by Scanning Microscopy) study on a selection of 10 polished mineralized samples from the Company's Wainaleka Zn-
Cu VMS (Volcanogenic Massive Sulphide) deposit. The purpose of the QEMSCAN study was to provide information on modal
mineralogy, grain size and to provide a preliminary guidance with respect to potential metallurgical performance.
QEMSCAN results (Figure 3) for the 10 samples show a range of sulphide mineral content, with sphalerite, covellite and
chalcopyrite being the main minerals of interest. Other sulphide minerals include pyrite, bornite, tetrahedrite/tennanite/enargite,
and chalcocite.
Figure 3: Wainaleka
Zn-Cu
VMS Modal Mineral Distributions
To view an enhanced version Figure 3, please visit:
[
http://orders.newsfilecorp.com/files/2901/34716_a1526568317844_24.jpg
]
The 10 samples contained an average of 26.3% modal sphalerite (ranging from 0.1% up to 66.5%); an average of 4.2%
chalcopyrite (ranging from 0.1% to 17.9%); and 20.6% pyrite (ranging from 0.9% to 57.7%). Significantly, two samples (RC22
and A0101) collected at a depth of approximately 131 m within drill hole WLK-11 contained 33.3% and 21.4% modal covellite.
With respect to grain size and potential floatation metallurgical performance of the Wainaleka Zn-Cu mineralization, SGS made
the following observations:
Sequential floatation of copper, then sphalerite into separate concentrates was recommended as a potential processing
option for the majority of samples.
High zinc content of two samples (greater than 65%) may make them a good candidates for pre-concentration using either
dense media of gravity separation.
Particle size observed is similar to typical VMS deposits, and suggests a primary grind size of 75 to 100 micron (0.075 to
0.1 mm) should be targeted.
With respect to deleterious elements, the observed quantity of non-sulphide gangue minerals should not negatively affect
metallurgy. Several reagent schemes and processing conditions can be evaluated to limit recovery of pyrite and arsenic
bearing minerals observed in a minority of samples. In addition possible use of zinc depressants, and avoiding blending of
high covellite and high zinc or zinc-copper material to limit the potential for high-zinc copper concentrates is suggested.
Interpretation
The Company is encouraged by the results of the preliminary QEMSCAN mineralogical study, which shows the Wainaleka Zn-
Cu mineralization appears to have an overall coarse sulphide distribution, making it amenable to sequential flotation.
Importantly the study raised the possibility of the creation of a zinc concentrate by relatively low cost dense-media or
gravity process methods.
Other important mineralogical observations that warrant further study include: the presence of a subset of high modal percent
covellite samples; potential interaction of pyrite in copper primary mineralization; and the presence of a small percentage of
copper-antimony-arsenic minerals. In future, the Company intends to investigate various flotation and gravity separation
methods, grind size, and reagent (pyrite and zinc suppressor) combinations on fresh drill core samples. The QEMSCAN study
represents an important step forward with respect to optimizing subsequent detailed metallurgical studies.
These results are extremely significant in that they provide to potential joint venture partners comfort
, on an initial
basis,
that the material
could
be
processed to produce saleable concentrates.
About
the
Wainaleka
VMS Deposit
During 1977 Australian Anglo American Ltd. (Anglo) completed a 15 hole diamond drill program totaling 1,850 m with holes
averaging a relatively shallow 120 m depth that defined the Wainaleka Zn-Cu VMS deposit. Drill hole WLK-1A intersected 9.8 m
averaging 8.28% Zn and 1.45% Cu; and drill hole WLK-10 returned 14.1m averaging 1.3% Zn and 1.5% Cu within what has
been interpreted as a zone of stringer mineralization. True widths are estimated at 80-100% of the drilled interval. Geologic
mapping indicates 15 km prospective geology strike length; including 8 more underexplored Zn-Cu VMS prospects.
During 1980, Anglo commissioned Golder Associates to conduct a review of potential mining scenarios of several Fijian VMS
deposits including Wainaleka*. The study published an historic, uncategorized resource for the portion of the Wainaleka Deposit
that was tested by the initial drilling of 250,000 tonnes grading 8% Zn and 2% Cu. The resources are considered historic in
nature and do not meet the criteria for a National Instrument (NI) 43-101 compliant resource of any category and as such should
not be relied upon. Thunderstruck has been unable to verify these sources of information.
*Source: Golder Associates, Review of the Mining Potential of the Fijian Kuroko Style Mineral Discoveries, 1980.
Financing
The Company has arranged a non-brokered private placement to raise up to $150,000 through the sale of up to 1,666,666 units
at a price of $0.09 per unit (the "Financing"). Each unit will comprise one common share and one share purchase warrant. Each
whole 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
from closing. The warrants will be subject to accelerated exercise provisions such that if the closing price of Thunderstruck's
common shares exceeds $0.25 per share for a period of 20 consecutive trading days, Thunderstruck may give notice of the
acceleration of the warrants' term to a period of 30 days following such notice. Proceeds of the Placement will be applied to
continuing operations on the Company's Fiji properties and general working capital.
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".
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 Rama Creek and Wainaleka Prospects.
During 2017 all Auger soil samples were submitted to Australian Laboratory Services Pty. Ltd (ALS) labs for gold and multi-
element geochemical analysis via aqua-regia extraction of a 25 gram (g) sample with ICP-MS finish. SWIR spectra were
analysed by ALS using a TerraSpec
®
4 High-Resolution Spectrometer on an approximately 100 g plus 2 millimetre coarse soil
separate. Spectral interpretation was completed using AusSPec International aiSIRIS
™
(Spectral InfraRed Interpretation
System) software to produce raw spectral files and output mineral assemblages and relevant spectral parameters. Auger soil
samples were collected at a maximum depth of 2 m or to refusal. Given the reconnaissance nature of the samples,
Thunderstruck has relied on the external QA/QC of ALS which included the insertion of insertion of standard, blank and duplicate
samples at a rate of 10% into the sample stream to confirm the accuracy of the reported results.
QEMSCAN image analysis is able to measure mineralogical variability based on chemistry at the micrometer-scale. It utilizes
both back-scattered electron (BSE) signal intensity, as well as Energy Dispersive X-ray Signal (EDS) at each measurement
point. QEMSCAN can map many thousands of particles in a polished section to obtain a detailed and statistically robust
characterization of the minerals present. It maps the particles based on differences in chemical analysis and can differentiate
amongst the various non-opaque gangue present in the ore body.
For additional information, please contact:
Bryce Bradley, President, Chief Executive Officer and Director
Telephone: (604) 349-8119
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 looki
ng
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.