Business
Thunder Gold Announces That Dr. Elliot Strashin Has Acquired More than 14% of the Outstanding Common Shares
Thunder Bay, Ontario--(Newsfile Corp. - October 11, 2022) - Thunder Gold Corp. formerly White Metal Resources (TSXV: TGOL) (FSE: CGK1) (OTC Pink: TNMLF) ("Thund
About this update from Thunder Gold Corp.
[{"type":"text","content":" Thunder Bay, Ontario--(Newsfile Corp. - October 11, 2022) - Thunder Gold Corp. formerly White Metal Resources (TSXV: TGOL) (FSE: CGK1) (OTC Pink: TNMLF) (\"Thunder Gold\" or the \"Company\") announces that on October 7, 2022, Dr. Elliot Strashin (\"Strashin\"), purchased through the TSX Venture Exchange, a total of 413,000 common shares of the Company trigging a regulatory requirement to file an Early Warning Report and issue a news release. Immediately prior to the purchase of securities described above, Strashin owned 20,530,957 common shares, representing an approximately 13.94 per-cent interest in the Company on an undiluted basis. Immediately following the transaction that triggered the requirement to file this news release, Strashin and his joint actors owned 20,943,957 common shares, representing an approximately 14.22 per-cent interest in the Company on an undiluted basis. Strashin holds the shares of the Company for investment purposes only. Strashin intends to review, on a continuous basis, various factors related to its investment, including (but not limited to) the price and availability of the securities of the Company, subsequent developments affecting the Company or its business, and the general market and economic conditions. Based upon these and other factors, Strashin may decide to purchase or sell securities of the Company. For additional information, an early warning report will be filed on SEDAR. About the Tower Mountain Gold Property The Tower Mountain Gold Property is located 5 kms off the Trans-Canada highway, 50 km west of Thunder Bay, Ontario and consists of unpatented and patented lands totalling 1,968 ha. Exploration to date suggests the property offers a large gold endowment. Gold mineralization is widespread and drilling to date has identified low-grade gold mineralization extending outward for at least 500 meters from a central alkalic intrusion known as the Tower Mountain Intrusive Complex. Drilling has established persistent gold grades from 0.1 to 1.0 g/t along a 1,500-meter-long x 500 meter wide x 500 meter deep block of volcanic-volcanoclastic rocks immediately west and adjacent to the central akalic intrusion. The remaining 6,000 meters of strike length surrounding the intrusion are untested. Tower Mountain shows many of the classic indicators of being an Intrusion Related Gold Deposit a hig...