Under the terms of the option agreement, Great Thunder can acquire a 100% interest in the Bursey’s North claims from the option or by paying $5,000 and issuing 100,000 shares immediately, incurring $25,000 of exploration expenses within two years and granting a 2% net smelter returns royalty.
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.
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.
We are well positioned and strategically located with over 11,000 hectares of ground in active gold-bearing structural corridors which bodes well for success through our exploration programs. The island has seen some great surface work done by local prospectors over the decades.
Mr. Mike Kilbourne, P.
The QP has not completed sufficient work to verify the historic information on the Bursey’s North property particularly regarding historical exploration, neighbouring companies, and government geological work.
Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.