- Great Thunder Gold Corp. (GTG) options the Goldson Properties in northeast Newfoundland
- Great Thunder has strategically expanded its land holdings in Newfoundland from 1,195 claims to 1,416 claims
- All three claim groups are in northeast Newfoundland and are located on or adjacent to New World Island
- Great Thunder can acquire a 100 per cent interest in the Goldson Properties from the options by paying $20,000 cash and 250,000 shares immediately
- Great Thunder Gold Corp. (GTG) is down 7.69 per cent and is trading at C$0.42 10:27 am ET
Great Thunder Gold Corp. (GTG) has entered into an option agreement to acquire the 5,525-hectare Goldson Properties in Newfoundland.
With this addition, Great Thunder has strategically expanded its land holdings in Newfoundland from 1,195 claims to 1,416 claims (354 sq. km or 35,400 hectares).
The claims package combines the Central Gold Goldson North, Central Gold Goldson South and Central Gold Goldson West properties into the Goldson Properties.
All three claim groups are in northeast Newfoundland and are located on or adjacent to New World Island. The area is accessible by a causeway from the main part of the island and the properties can be accessed by road and by boat.
The properties lie in the northeastern corner of the Exploits Subzone (Dunnage Zone) of Central Newfoundland. The GSN property is underlain mostly by the Ordovician Badger and Chanceport groups and the Cambrian Twillingate Pluton to the north.
The GSS property is underlain mostly by the Ordovician Dunnage Melange. The GSW is underlain mostly by mafic volcanics of the Chanceport and Moreton’s Harbour groups.
Under the terms of the option agreement, Great Thunder can acquire a 100 per cent interest in the Goldson Properties from the options by paying $20,000 cash and 250,000 shares immediately, a further $30,000 and 350,000 shares within one year, a further $45,000 and 550,000 shares within two years and, a final $55,000 and 800,000 shares within three years.
The options will also retain a 2 per cent net smelter returns royalty, with Great Thunder having the option to buy back 1 per cent for $1,000,000.
Great Thunder is traded on the Canadian Securities Exchange as GTG. It is a Canada-based junior mining exploration company focused on exploration and development in Newfoundland and is exploring and developing assets in Quebec.
Great Thunder Gold Corp. (GTG) is down 7.69 per cent and is trading at C$0.42 10:27 am ET.
