- Thunder Gold Corp. (TGOL) has signed an agreement with Himba Metals (PTY) on the company’s interest in the Okohongo Copper-Silver Property in Namibia
- Himba has secured an option to acquire Thunder Gold’s 95 per share holding interest in Aloe Investments Two Hundred and Thirty-Eight (Pty) Ltd
- Himba paid a non-refundable deposit of US$50,000 and made an initial option payment to Thunder Gold of $50,000 on completion of its due diligence
- In addition, Thunder Gold has amended the agreement with Benton Resources Inc. regarding the Far Lake Copper-Silver Property
- Thunder Gold Corp. is a junior exploration company
- Thunder Gold Corp. was down 20.00 per cent, trading at C$0.06 at 1:02 PM ET
Thunder Gold (TGOL) has signed an agreement with Himba Metals (PTY) relating to the company’s interest in the Okohongo Copper-Silver Property in Namibia.
In line with the LOI and the definitive agreement, Himba has secured an option to acquire Thunder Gold’s 95 per shareholding interest in Aloe Investments Two Hundred and Thirty-Eight (Pty) Ltd., the company incorporated in Namibia that holds the exploration licence (EPL7071) associated with the Okohongo Copper-Silver Property.
Following the terms of the definitive agreement, which supersedes the LOI, Himba paid a non-refundable deposit of US$50,000 and made an initial option payment to Thunder Gold of $50,000 on completion of its due diligence.
The company has further received from Himba a cash payment of $400,000 (originally due May 31, 2022 under the LOI but extended to July 15, 2022).
In addition, Thunder Gold has amended the agreement with Benton Resources Inc. regarding the Far Lake Copper-Silver Property, located 80 km west of Thunder Bay, Ontario.
According to the terms of the amending agreement, Benton may exercise the initial option, earning a 60-per-cent interest in Far Lake, by paying C$25,000 and issuing 200,000 shares to Thunder Gold (initially C$150,000 and 900,000 shares required) by July 15, 2022.
“Both agreements allow us to focus on advancing our flagship Tower Mountain Property near Thunder Bay Ontario while maintaining a significant interest in these promising exploration opportunities.” said Wes Hanson, President and CEO.
Situated within the Kaoko Belt and hosted by metasedimentary strata, Okohongo is considered analogous with the stratiform sediment-hosted Central African Copperbelt deposits of Zambia and the Democratic Republic of the Congo.
Thunder Gold Corp. is a junior exploration company.
Thunder Gold Corp. was down 20.00 per cent, trading at C$0.06 at 1:02 PM ET.