The Property is geologically prospective, as it is situated on trend and approximately 20 km west-northwest of the recent Nelligan gold discovery, a joint-venture between Iamgold Corporation and Vanstar Mining Resources Ltd., which hosts NI 43-101 Inferred Resources of 97 million tonnes grading 1.0 gram per tonne of gold, equivalent to 3.2 million ounces of gold.(1)
Jean Francois Metail, President of Blue Thunder commented “Blue Thunder’s Muus property is strategically positioned in a highly prospective gold camp, which hosts Iamgold’s Nelligan and Northern Superior Resources’ Lac Surprise gold deposits; two significant recent discoveries. Importantly, the Tectonic property occurs within the same belt of Caopatina metasediments as both deposits and is proximal to major regional structures that are believed to play an important role in controlling gold mineralization at these two locations. For this reason, we are very pleased to have completed our earn-in of the Tectonic property, as it enhances our strategic land position in a highly fertile camp.”
Tectonic retains a 2% Net Smelter Returns (NSR) royalty, of which half (i.e., 1% NSR) can be repurchased by Blue Thunder under certain conditions and upon commencement of commercial production of any minerals on the property.
NOTES:
(1) Nelligan NI 43-101 Technical Report, Oct 22, 2019, Prepared for Iamgold Corp and Vanstar Mining Resources
Figure 1: Location map
Qualified Person
The scientific and technical information in this news release was reviewed and approved by John Langton (M.Sc., P.Geo.) of JPL GeoServices Inc., who is independent of Blue Thunder and is a Qualified Person as defined by National Instrument 43-101.
About Blue Thunder
Blue Thunder (TSXV:BLUE, OTCQB:BLTMF) is a gold exploration company that controls 100% of one of the largest land positions near the Chapais-Chibougamau gold district (the “District”) of Quebec, a historic camp with significant historical production and major recent discoveries. The Muus Gold project is underlain by the two major regional trends hosting IAMGOLD’s Nelligan and Northern Superior Resources’ Lac Surprise projects to the south and IAMGOLD’s Monster Lake project to the north, with excellent highway and road access. The Muus Gold project covers approximately 51,000 hectares in five separate blocks of prospective ground in the eastern part of the Abitibi Greenstone Belt and is considered particularly prospective for gold mineralization, as a series of prominent ductile and brittle fault-sets transect the Property, including the Guercheville and Fancamp deformation zones, both of which are associated with numerous past and currently producing precious and base metal mines in the District.
ON BEHALF OF THE BOARD
Chad Williams, Executive Chairman and Director
Blue Thunder Mining Inc.
401 Bay Street, Suite 2704, Toronto, Ontario, M5H 2Y4
(647) 848-1009
Neither the 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.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements other than statements of historical fact, including without limitation, statements regarding the anticipated content, commencement and exploration program results, the ability to complete future financings, required permitting, exploration programs and drilling, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct.
The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, the state of the financial markets for the Company’s equity securities, the state of the commodity markets generally, variations in the nature, the analytical results from surface trenching and sampling program, including diamond drilling programs, the results of IP surveying, the results of soil and till sampling program. the quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the inability of the Company to obtain any necessary permits, consents or authorizations required, including TSXV acceptance, for its planned activities, the inability of the Company to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, the potential impact of COVID-19 (coronavirus) on the Company’s exploration program and on the Company’s general business, operations and financial condition, and other risks and uncertainties. All of the Company’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company’s mineral properties. This news release contains information with respect to adjacent or similar mineral properties in the Chibougamau District in respect of which the Company has no interest or rights to explore or mine. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits, and the results of any mining thereof, on adjacent or similar properties, are not indicative of mineral deposits on the Company’s properties or any potential exploration thereof.
