- Great Thunder (GTG) has expanded its Bursey property by acquiring the Bursey East claims
- The company has acquired an additional 2 claim blocks located 45 kilometres northeast of Gander, NL
- Great Thunder acquires 100 per cent interest in the Bursey East claims from the vendors by paying $5,500 and issuing 100,000 shares
- Great Thunder Gold is a Canadian junior mining exploration company
- Great Thunder Gold Corp. (GTG) is up 4 per cent, trading at C$0.52 per share at 3 pm ET
Great Thunder (GTG) has expanded its Bursey property by acquiring the Bursey East claims in Newfoundland.
The company has acquired an additional 2 claim blocks located 45 kilometres northeast of Gander, NL (Figure 1). The Bursey Properties 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.
Under the terms of the acquisition agreement, Great Thunder acquires 100 per cent 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 (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
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.
Great Thunder Gold is a Canadian junior mining exploration company focused on mineral projects located in Quebec & Newfoundland, Canada.
Great Thunder Gold Corp. (GTG) is up 4 per cent, trading at C$0.52 per share at 3 pm ET.