Montréal, Québec, January 10, 2024 – Blue Thunder Mining Inc. (TSXV: BLUE) (“Blue Thunder” or the “Company”) announces that it has begun planning its 2024 exploration campaign at its Muus Gold Project in Chibougamau, Québec.
On November 13, 2023, the Company announced a renewed focus on gold exploration in Quebec with the technical and financial support of IAMGOLD Corporation (TSX: IMG; NYSE: IAG), a Canadian-based, international, gold mining company (“IAMGOLD”). The ensuing private placement has closed (see news releases dated December 7 and December 21, 2023) and in fact was oversubscribed.
IAMGOLD – Blue Thunder Technical Committee
The first meeting of the IAMGOLD – Blue Thunder Technical Committee took place in December 2023.
Dorian L. (Dusty) Nicol, the Company’s CEO, said, “We are even more enthused about the discovery potential at Muus after our initial planning discussions with IAMGOLD. These discussions confirmed, as we suspected, that the geology and alteration observed in drill core from our 2021 drilling at Lac Bernard are similar to that observed at IAMGOLD’s multi-million ounce Nelligan Gold Project, which is adjacent to and on the same geologic trend as Muus. Lac Bernard is also the location of significant gold-in-till anomalies identified by previous exploration. Our 2024 exploration program will initially focus on the Lac Bernard area while simultaneously completing a district-wide data compilation and review to identify and prioritize other targets.”
In accordance with the provisions of IAMGOLD’s investment, the Technical Committee with representatives of IAMGOLD and Blue Thunder was formed to plan ongoing exploration on the Company’s Muus Gold Project. The Technical Committee has held its first meeting and as a result plans for this year’s exploration at Muus are now being prepared. The work will initially comprise data compilation and review followed by field work and highly targeted drilling later in the year. Further details will be released as the planning continues and the 2024 exploration program is finalized.
Options
The Company also announces that the Board of Directors has approved the grant of options to directors, officers, employees, and consultants of the Company for the purchase of up to 3,400,000 shares in the Company exercisable at a price of $0.08 for a period of five years from date of grant. The grant is pursuant and subject to the terms and conditions of the Company’s existing stock option plan and is subject to the approval of the TSX Venture Exchange and all regulatory requirements.
Qualified Person
Technical information in this news release has been approved by Dorian L. (Dusty) Nicol, the Company’s CEO (PG, FAusIMM), who is a Qualified Person (QP) for the purpose of National Instrument 43-101.
About Blue Thunder
Blue Thunder is an exploration and growth company that owns 100% of a large land position near Chibougamau, Québec. The Muus Gold project covers approximately 25,250 hectares of prospective ground in the eastern part of the Abitibi Greenstone Belt. The Muus Project is prospective for gold mineralization and is adjacent to and on strike with IAMGOLD’s 5-million-ounce Nelligan gold project. Blue Thunder has announced that exploration of the Muus project will advance in technical collaboration with Iamgold, which owns approximately 12.5% of the Company. Field work completed during 2022 established that the northern portion of the Muus Project is also prospective for copper-gold volcanogenic massive sulphide mineralization, as well as confirming that it is prospective for high-grade gold mineralization similar to IAMGOLD’s nearby Monster Lake gold deposit.
ON BEHALF OF THE BOARD
Dorian L. (Dusty) Nicol, CEO & Director
For more information, please visit our website www.bluethundermining.pubco.biz, or contact Mr. Dorian L. (Dusty) Nicol, dusty@bluethundermining.pubco.biz (604) 828-5886.
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, included herein including, without limitation, statements regarding the anticipated content, commencement, anticipated exploration program results, the ability to complete future financings, the ability to complete the required permitting, the ability to complete the exploration program and drilling, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. 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. 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 TSX Venture Exchange 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 exploitation thereof.
