Press Release: April 6, 2016
GREAT THUNDER SELLS INTEREST IN MINERAL CLAIM
VICTORIA, BC, April 6, 2016 – Great Thunder Gold Corp. (TSXV: GTG) announces that the company entered into an agreement to sell a 50% undivided interest in one of its Valentine Mountain mineral claims to Sooke River Resources Inc., a private corporation controlled by Mr. John Moraal, a director of the Company. Sooke River Resources Inc. owns or controls 19.7% of the Company’s shares, which holdings will remain unchanged upon completion of the proposed transaction.
Under the terms of the agreement, the purchaser will, subject to TSX Venture Exchange acceptance, pay $20,000 cash for the 50% interest. The mineral claim covers 256.75 hectares and lies near the geographic centre of, and is surrounded by, 24 other mineral claims comprising the Company’s Valentine Mountain Property.
The claim covers 1.85 km strike length of the east-west trending Gold-Arsenic Corridor west of the Discovery Zone and east of the Braiteach/BN Zone, but including neither one of these gold occurrences. The claim covers two known gold occurrences: Discovery West Zone and Log Dam Zone.
Discovery West consists of 12 intercepts in three south-dipping narrow quartz-sulphide veins (B, C & E) exposed in four diamond drilling holes and one surface trench over a strike length of 110 metres and to a maximum depth of 150 metres from surface. The C Vein yielded intercepts of 73.31 g/t gold over 0.37 metres in DDH 89-24 and 100.08 g/t gold over 0.5 metres in trench sample 599322. The C Vein hosts an inferred mineral resource estimate of 12,215 tonnes at 35.4 g/t gold based on four intercepts. The B Vein yielded an intercept of 3.15 g/t gold over 0.93 metres in DDH 89-24. The E Vein yielded an intercept of 5.21 g/t gold over 0.53 metres in DDH 89-24. Neither B nor E Veins yielded other elevated gold intercepts or host mineral resources at the Discovery West Zone.
Log Dam consists of six intercepts in south-dipping narrow quartz-sulphide veins of unknown continuity exposed four diamond drill holes and two surface trenches over a strike length of 225 metres and to a maximum depth of 100 metres from surface. Trench sample 599250 yielded an intercept of 32.02 g/t gold over 0.4 metres, and trench sample 599319 yielded 2.13 g/t gold over 0.3 metres, but none of the four drill holes yielded elevated gold intercepts. Log Dam Zone does not host any mineral resources.
The Company is undertaking the proposed sale to improve its financial position. The sale will reduce the Company’s interest in its 7,231-hectare Valentine Mountain Property and will reduce its interest in the inferred mineral resource on the property.
The Company is relying on sections 5.5(g) and 5.7(e) of Multilateral Instrument 61-101 to exempt the proposed sale from the requirements for a formal valuation and minority shareholder approval. The transaction was approved by the Company’s independent directors following their review of the transaction terms and a property overview prepared by an independent geological consultant.
The technical information herein is based upon information prepared by Mr. Jacques Houle, P.Eng., an independent Qualified Person as defined by National Instrument 43-101. Refer to the entire text of the technical report entitled Technical Report on the Valentine Mountain Property, Southern Vancouver Island, British Columbia, Canada and dated March 27, 2013 available at www.sedar.com, for further information and the key assumptions, parameters and methodology used, as well as risk factors. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
ON BEHALF OF THE BOARD Signed “Kevin C. Whelan” Kevin C. Whelan, President Direct line: (250) 474-6640
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.