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Thunderstruck Announces Conclusion of Earn-In Agreement Return to 100% Ownership of Korokayiu Zinc/Copper Asset
Vancouver, British Columbia--(Newsfile Corp. - March 9, 2022) - Thunderstruck Resources Ltd. ...
About this update from Thunderstruck Resources Ltd.
[{"type":"text","content":"Thunderstruck Announces Conclusion of Earn-In Agreement Return to 100% Ownership of Korokayiu Zinc/Copper AssetVancouver, British Columbia--(Newsfile Corp. - March 9, 2022) - Thunderstruck Resources Ltd. (TSXV: AWE) (The \"Company\") President/CEO Bryce Bradley announces the conclusion of Thunderstruck's earn-in agreement (the \"Agreement\") with Japan Oil, Gas and Metals National Corporation (\"JOGMEC\") on the Company's Korokayiu VMS prospect in Fiji.Thunderstruck and JOGMEC announced on February 28, 2019 a joint venture agreement to explore Thunderstruck's Korokayiu base metals asset, with CDN$3.5 million in exploration expenditures by JOGMEC to earn 70% of the Company's zinc/copper prospect. In the past three years, Thunderstruck has completed 1.6 km of diamond drilling across 16 holes at Korokayiu. Highlights of this drilling program include 11m at 13.77% Zn, 2.94% Cu, 113.7 g/t Ag, 1.08 g/t Au and 10.55m at 9.51% Zn, 54.5 g/t Ag and 0.48 g/t Au. Additionally, mapping, geophysical and geochemical surveys have expanded existing targets and identified new targets for drilling at seven new sites over a seven-kilometer strike area. These new targets include significant soil geochemical anomalies up to 21.84 g/t Ag , 0.96% Zn and 0.41% Cu. (see January 30, 2020 news release)Despite the encouraging results from the program, JOGMEC has determined that there is insufficient data to establish a mineral resource within the allocated time frame to currently justify a formal joint venture.JOGMEC has surrendered its option to acquire 70% of the Korokayiu prospect, which now returns to Thunderstruck as a 100% wholly-owned exploration license. Thunderstruck will retain all of the geological, geochemical, and geophysical data collected during the three years of exploration.\"JOGMEC is an exceptional exploration partner, and we benefited from a close, productive relationship with them advancing our Korokayiu zinc/copper prospect,\" said Bryce Bradley. \"We're delighted that JOGMEC has expressed its wish to work with us in future, and as such we will keep them apprised of our progress in the hopes of resuming our mutually beneficial relationship.\"\"With the Korokayiu license back as a 100% Thunderstruck-owned asset,\" Bradley continued, \"we will be pursuing the gold and silver targets that were identified but not part of JOGMEC's base meta...