Thunder Bay, Ontario--(Newsfile Corp. - December 27, 2023) - Thunder Gold Corp (TSXV: TGOL) (FSE: Z25) (OTCQB: TGOLF) (formerly White Metal Resources Corp) ("Thunder Gold" or the "Company") announces that Leocor Gold Inc. ("Leocor") has advised the Company that it would not be completing their option to earn a 70% interest in the Startrek Gold Property (the "Property"). As a result, the Company now holds a 100% interest in the Newfoundland ("NL") gold Property.
Startrek Highlights:
- Located in a premium exploration district with demonstrated discovery potential;
- Road accessible project, close to established provincial infrastructure;
- Over 50 known gold showings identified by prospecting and surface sampling;
- Gold mineralization associated with quartz veins and quartz breccia zones;
- Soil geochemical surveys indicate multiple anomalies (90th percentile cutoff);
- Soil anomalies trend east to east-northeast and persist over hundreds of metres;
- Stacked soil anomalies define a trend over 4,000 metres in length by 300 metres wide;
- Approximately 80% of the total claim area, remains unexplored;
The Startrek Gold Property (6,847 hectares) is situated in the Central Newfoundland Gold Belt ("CNGB"), an emerging gold district in Newfoundland, interpreted to host high-grade, orogenic gold deposits. Startrek is located 20 kilometres east of the Town of Gander, NL, immediately north of the Trans-Canada highway (Ref. Figure 1).
The Property is dominated by clastic metasedimentary rocks of the Gander Group (Ref. Figure 2). Historical prospecting and rock sampling (by others) identified more than 50 known gold anomalies, reporting gold grades up to 40.9 g/t Au in selective surface rock samples. Soil geochemistry (100-metre x 25-metre) has identified multiple east-northeast, northeast and east-west trending anomalies traceable for several hundreds of metres within a broader 200 - 300-metre-wide corridor that trends to the northeast and extends for over 4,000 metres (Ref. Figure 2).
Wes Hanson P.Geo., CEO of Thunder Gold notes: "The Central Newfoundland Gold Belt ("CNGB") is one of the most active exploration districts in Canada today with multiple companies targeting high-grade, orogenic gold deposits throughout the CNGB. Historical exploration of the Startrek Property has identified more than 50 surface gold showings that have returned gold grades as high as 40.9 g/t Au. Approximately 80% of the Property is unexplored offering an immediate exploration target in a highly prospective gold district. Soil geochemistry results suggest multiple, narrow (25 to 50 metre wide) anomalies (upper ten percent of all results) oriented east-northeast to northeast, consistent with the dominant structural trends demonstrated within the CNGB. During the first quarter of 2024, our plan is to complete a thorough review of the data and results generated by the previous operator(s) to determine if we want to advance the Startrek Property or option it to others so that we may maintain our focus on exploring our primary asset, the Tower Mountain Gold Property in the equally exciting Shebandowan Greenstone Belt, Ontario."
FIGURE 1 – STARTREK – REGIONAL GEOLOGY
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FIGURE 2 – STARTREK – SOIL AND ROCK RESULTS
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Corporate
The Company also announces that it has applied to the TSX Venture Exchange to extend the exercise term on the 4,600,000 stock options granted on January 30, 2023 for another 12 months from the original 1-year exercise term. The options granted to Officers, Directors and Consultants have a $0.05 strike price and, subject to regulatory approval, will now expire on January 30, 2025.
Qualified Person
Technical information in this news release has been reviewed and approved by Wes Hanson, P.Geo., President and CEO of Thunder Gold Corp. Mr. Hanson has NOT visited the Startrek Property nor has he verified the data disclosed herein, including sampling, analytical and test data underlying the information or opinions contained in the written disclosure.
Quality Assurance and Quality Control
Surface grab rock samples and results described in this news release are selective by nature and unlikely to represent average grades of the Property.
All results described in the news release were collected by others, independent of the Company. The Company's Qualified Person has not reviewed the data or the quality assurance – quality control results in detail.
About Thunder Gold Corp.
Thunder Gold Corporation, formerly White Metal Resources. is a junior exploration company focused on gold discovery in Canada. For more information about the Company please visit www.thundergoldcorp.com.
On behalf of the Board of Directors,
Wes Hanson, P.Geo., President and CEO
For further information contact:
Wes Hanson, CEO
(647) 202-7686
whanson@thundergoldcorp.com
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to the gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.
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