Great Thunder Gold identifies targets for maiden drill campaign at Southern Star property, in Quebec’s Fenelon Gold Camp

2020.12.08

Less than two weeks after reporting the results of airborne geophysical surveys at its two properties within Quebec’s Fenelon Gold Camp, Great Thunder Gold (CSE:GTG, OTC:GTGFF, FSE:M4KQ-FF) began planning a first-phase drill program.

The maiden drill campaign will initially focus on the Southern Star property, located 10 km south of Great Thunder’s Northbound project and around 65 km from Wallbridge Mining’s Fenelon gold deposit. 

According to GTG’s Oct. 19 news release, drill targets have been selected based on conductive plate modeling carried out by Campbell and Walker Geophysics. As shown in the figure below, Great Thunder is looking at 13 drill holes, targeting two “conductors”. The A conductor is considered a high-priority target. First prioritized in a 1986 drill program, the newly interpreted 3D model demonstrated that the targets were not properly penetrated.

The C conductor has never been drilled and will also be a focus of the first-pass drill program expected to kick off this month or in early 2021.

Great Thunder Gold’s map of proposed drill holes in the northern block of the Southern Star project, Fenelon Gold Camp, Quebec.

Fenelon Gold Camp

Deemed Canada’s next major gold-producing region, action in the Fenelon Gold Camp of Quebec has been heating up, ever since Kirkland Lake Gold (TSX:KL) made its move to acquire Detour Gold.

The key asset in the $4.9 billion deal was the Detour Lake Mine in the Abitibi region, which produced 601,566 ounces last year, placing it among the top producers in the world. There is already as much as $50 million committed to drilling and exploration on the Detour Lake property for the first two years.

This major acquisition provided further business opportunities and kickstarted a chain of events, led by Wallbridge Mining (TSX:WM) snatching Balmoral Resources’ assets through a merger and Great Thunder also making its presence felt with property acquisitions and expansions.

At its Fenelon Gold Project, Wallbridge has executed a major drill campaign this year despite covid-19 slowdowns, with the aim of completing a NI 43-101 maiden resource estimate next year that could exceed one million ounces (in the Indicated category). To the end of October, approximately 85,500m of the planned 100,000-meter drill program have been completed.

In November, Wallbridge made an option agreement with Kirkland Lake Gold, to acquire a 75% interest in KL’s Detour Lake East, by spending $35 million in exploration expenditures on the property.

Great Thunder is aiming to follow in the footsteps of Wallbridge by exploring surrounding properties that have had little to no past work.

The latest airborne survey so far has validated the company’s confidence in the area. GTG has successfully identified structures of interest within the Jeremie Pluton contact, considered the most promising area of the Northbound property, as well as five conductive zones on the Southern Star property.

Map of Great Thunder Gold’s Northbound and Southern Star properties in the Fenelon Gold Camp, Quebec.

Northbound

At the beginning of Great Thunder’s summer exploration program, a 569 line-kilometer heliborne magnetic survey was carried out at 50m line spacings over the Northbound property.

This 1,162-hectare property encompasses the Jeremie Pluton contact, within which Wallbridge had previously intersected high-grade results such as 22.73 g/t Au over 48m near the contact with surrounding volcanics.

Great Thunder’s 2020 airborne survey interpretation for the Northbound project.

Southern Star

To the south of Wallbridge’s project, 1,359 line kilometers of helicopter magnetics and a time domain electro-magnetic (EM) survey was completed at the Southern Star property at 100m line spacings.

The survey was successful in identifying a large number of breaks and offsets, and helped to better define lithological contacts within the greenstone package. The EM survey highlighted a total of five conductive zones in the north and west of the property, especially to the north (closer to Fenelon), where four conductors appear to be associated with the flanks of a mafic volcanic unit, in contact with intermediate tuffs and graphitic horizons (see figures below). In the west, a conductor is associated with graphitic schists along the Bapst Fault.

Great Thunder’s 2020 airborne survey vertical magnetic derivative interpretation for the Southern Star project.

Great Thunder’s 2020 airborne survey electromagnetic conductivity interpretation for the Southern Star project.

A limited amount of past work had taken place along these conductors, and they have been incorporated into further 3D conductive plate modeling in order to generate drill targets ahead of the winter drill program.

Great Thunder Gold is fully cashed up, having recently closed a private placement of 1,476,190 flow-through shares at $1.05/sh, raising $1.55 million. This followed a smaller financing in October that raised $104,000 at $0.65 per unit.

Great Thunder and its optimal location in an emerging gold camp has certainly been noticed by some of the biggest mining investors including Eric Sprott, who upped his stake in the company to over 15%, on top of his existing investment in Wallbridge.

With Great Thunder Gold planning its winter exploration program adjacent to the Fenelon gold deposit, at Southern Star, this could be a very exciting stock to own.

Great Thunder Gold
CSE:GTG, OTC:GTGFF, FSE:M4KQ-FF
Cdn$0.78, 2020.12.07
Shares Outstanding 34,843,511m
Market cap Cdn$27.17m
GTG website

Richard (Rick) Mills
aheadoftheherd.com
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