VICTORIA, BC, May 16, 2017 – Great Thunder Gold Corp. (TSXV: GTG) is pleased to announce that its flagship project in the Urban-Barry greenstone belt has been named the Great Dane Project. Management’s review and interpretation indicates that its 2017 exploration plans have the potential to extend the productive greenstone units south from Osisko Mining Inc.’s Black Dog Project through Souart and into Maseres Township. Significantly, the volcano-sedimentary units are interpreted to be folded and Great Thunder’s Great Dane Project has about two kilometres of cross sectional width of the central part of the fold nose. Great Thunder’s President, Kevin Whelan, said, “This is exciting, considering Great Thunder’s proximity to Osisko’s Black Dog gold project, the nature of the gold mineralization within the Black Dog Deposit in conjunction with the gold copper mineralized boulders previously identified within 150 metres of our claim group.”
Osisko reported gold in till results of 85 – 340 grains gold per 10 kg till marginal to Osisko’s Black Dog Project, which prompted Great Thunder to option the Great Dane Project. These highly anomalous gold in till values are located over an area that could represent a broad fold nose within the Urban-Barry greenstone Belt. The Black Dog Project is reported by Osisko to be a gold-silvercopper discovery in andesitic volcanics that is coincident with magnetic and electromagnetic anomalies and disseminated to semi-massive Au-Ag-Cu bearing sulfides. In January, Osisko indicated that targeting EM anomalies has had success in their exploration efforts on the Black Dog Project.
A report entitled “Report on a Combined Helicopter borne Electromagnetic, Magnetic, Radiometric and VLF-EM Survey, DELAFON PROJECT, March 10, 1993” filed with the Quebec government identified a significant conductive trend with associated electromagnetic anomalies. Quebec government-filed work report GM55916 Report on 1998 Drilling Program describes the “long formational conductive/magnetic horizon which extends 10 km SSW from the edge of the Urban-Barry Belt to Lac Delafond where it bends sharply SSE passing 100m north of the two mineralized boulders.”
The boulders mentioned above were described as “Brecciated, gneissic, pyrrhotitic iron formation recemented by pyrite and chalcopyrite, one of the boulders contained arsenopyrite. No known mineralization of this type is known in the Urban Barry Belt to the north and in any case the gneissic condition of the boulders precludes a source in the greenschist facies of rocks of this belt. Therefore, a proximal source was sought.”
The mineralized boulders are located on Osisko claims within 150 metres of the Great Thunder’s property boundary. The mineralized boulders are located 80 metres southwest of the formational conductor. This formational conductor continues laterally on each side of the Osisko claims, where the mineralized boulders are located and onto Great Thunder’s claims. Osisko has approximately one kilometre of the strike length of the formational conductor, above which the mineralized boulders are situated. Great Thunder has a total of approximately nine kilometres of strike length of the same formational conductor. The boulders are reportedly located at:
GM55916 further reported “… investigations revealed unmineralized, SW dipping, pyrrhotitic iron formation coincident with the conductor. This gneissic iron formation was mineralogically and texturally similar to the least brecciated portions of the mineralized boulders … the iron formation was considered to be a prime potential source for the boulders.”
The northwestern portion of Great Thunder’s Great Dane Project claims situated within the area of the potential fold nose is considered by management to be an excellent exploration target. The competency contrasts with volcano-sedimentary sequences can be responsible for dilational zones commonly observed within hinge areas of fold noses, especially within iron formations. The tensional features produced by the folding in the hinge zones can form preferential hydrothermal fluid pathways and redox traps for gold mineralization. Great Thunder has about two kilometres of cross sectional width within a major fold nose to explore on its Great Dane Project.
Great Thunder is mobilizing to evaluate exploration targets as they are currently defined and is seeking competitive bids to conduct a state of the art helicopter-borne magnetometer and EM survey over its Great Dane Project.
Wade Kornik, P.Geo., a non-independent consultant, acting on behalf of Great Thunder has approved the technical information contained in this release. Mr. Kornik is a Qualified Person as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD
Signed “Kevin C. Whelan”
Kevin C. Whelan, President
Direct line: (250) 474-6640