Business
Great Thunder Gold Expands Bursey Property in Newfoundland
Vancouver, British Columbia--(Newsfile Corp. - July 12, 2021) - Great Thunder Gold Corp. (CSE: GTG) (OTC Pink: GTGFF) (FSE: M4KQ) ("Great Thunder" or the "Compa
About this update from Newfoundland Discovery Corp
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - July 12, 2021) - Great Thunder Gold Corp. (CSE: GTG) (OTC Pink: GTGFF) (FSE: M4KQ) (\"Great Thunder\" or the \"Company\") is pleased to announce it has expanded its Bursey property by acquiring the Bursey East claims in Newfoundland, Canada. The Company has acquired an additional 2 claim blocks located 45 kilometres (\"km\") northeast of Gander, NL (Figure 1). The Bursey Properties (the \"Property\") lie along the GRUB line, a crustal scale structural corridor believed to be one of the major fluid conduits related to the Gander Gold belt and New Found Gold's \"Keats Zone\" hosting bonanza high-grade gold mineralization. Figure 1: GRUB and Bursey & Bursey East (orange circled claims) claim group along the GRUB Fault line Under the terms of the acquisition agreement, Great Thunder acquires 100% interest in the Bursey East claims from the vendors by paying $5,500 and issuing 100,000 shares immediately. The vendor will retain a 1% net smelter returns royalty. Bursey Property The Property lies along the GRUB Fault, a crustal scale fault zone that divides the Gander Zone from the Exploits Subzone and extends over 200 km in a southwest trend (see Figure 1). The GRUB structural corridor and related splay faulting hosts the Appleton Fault and JBP Fault home to the Queensway Gold Project of New Found Gold that reportedly contains 2 gold discoveries, the Keats and Lotto Zones, and an additional 10 high grade gold showings https://newfoundgold.ca/project/queensway-project/. The Bursey Property is located over and adjacent to a carbonatized ultramafic unit with quartz-carbonate veining known as the Gander River Ultramafic Belt. The spatial relationship of gold mineralization to faults zones with carbonatized ultramafic rocks suggests a comparison to the Mother Lode Belt in California, a general deposit model where the carbonatization of ultramafic rocks and the development of gold veins in and above thrusts, reverse and normal faults has been used as a guide for exploration in these areas. Since the initial phase of exploration in the 1980's no further work has been completed on the claim groups. Qualified Person Mr. Mike Kilbourne, P. Geo, an independent qualified person as defined in National Instrument 43-101, has reviewed, and approved the technical contents of this news release on beha...