Thunderstruck Resources has announced some promising early stage news from their Liwa Creek gold prospect on Fiji. The news comes from both an academic study on the prospect, plus an additional 29 surface rock samples collected by Thunderstruck.
Sample data – positive early-stage results.
The rock outcrop and float samples from Liwa contain some very compelling results. Of the 29 samples collected, 8 had values greater than 1g/t gold (g/t AU) and 10 g/t silver (Ag), and up to 41.6 g/t Au and 1,205 g/t Ag. A high grade gold-silver rock float sample 19KRP014 (41.6 g/t Au and 1,205 g/t Ag) of particular significance was collected during follow-up prospecting over the new Lower Vatuvatulevu soil geochemical anomaly that returned 8 soils collected over a 160-metre interval returning greater than 20 ppb gold, and up to 2,480 ppb gold (2.48 g/t gold) and 20.2 g/t Ag.
Further good news to note here is that additional prospecting in the Liwa Ridge area has returned the highest gold assay to date from a large 50cm colloform banded quartz veined altered volcanic boulder. The boulder, determined to be nearly in situ on the top of Liwa Ridge, yielded two samples of 11.1 g/t Au and 8.5 g/t Au, in addition to 27 g/t Ag and 109 g/t Ag.
Bryce Bradley, CEO of Thunderstruck, commenting on the results, stated that they are looking forward to starting drilling at Liwa Creek. “While exploration on our Korokayiu zinc/copper project, joint-ventured with JOGMEC, continues apace, we are also actively working to advance our other exciting prospects, most notably Liwa Creek. These latest high-grade results support our very positive view of Liwa’s prospectivity.” Watch our interview with Bryce Bradley at Mines and Money last year discussing why they’re so positive about mining in Fiji.
Research findings – mineralization, veining and alteration.
Turning to the findings of the Master’s thesis on Liwa Creek, the principal conclusions here are that the prospect shows characteristics of both high and intermediate-sulphidation epithermal deposits. It is thought the prospect represents a transitional zone between the two styles: an older, high-sulphidation style persevered along ridges at higher elevation and an intermediate-sulphidation style interpreted to be younger, expressed on the peripheries of hydrothermal breccias as in the well-documented, high-grade gold- and base-metal-rich veins occurring at the Jensen’s Showing.
Significantly, open-space veining and silicic alteration at higher elevations are interpreted to indicate that current exposure lies close to the paleo water table and has seen relatively little erosion, indicating that considerable potential exists in structures open along strike and at depth. Mineralisation is controlled by northeast-trending fault zones and is spatially related to kaolinite-poor argillic alteration present in two forms: 1) Thin, base metal sulphide-silver veins; 2) Two-stage breccias with acid argillic altered cores and argillically altered peripheries that host gold mineralisation in the form of electrum. Both of these remain open at depth and along strike.
Viti Levu, the main island of Fiji, has a long mining history. It is on the prolific Pacific Ring of Fire, a trend that has produced numerous large deposits, including Porgera, Lihir and Grasberg. The island of Viti Levu hosts Namosi, held by a joint venture between Newcrest and Mitsubishi. Newcrest published Proven and Probable Reserves for Namosi of 1.3 billion tonnes at 0.37% Cu and 0.12 g/t Au (5.2M ounces Au and 4.9M tonnes Cu). Namosi is now undergoing environmental assessment as part of the permitting process. Lion One Metals is now developing its Tuvatu Project, with Indicated Resources of 1.1 million tonnes at 8.17 g/t Au (294,000 ounces Au), and Inferred Resources of 1.3 million tonnes at 10.6 g/t Au (445,000 ounces Au). The Vatukoula Gold Mine has been operating for 80 years, producing in excess of 7 million ounces.
About Thunderstruck Resources
Thunderstruck Resources is a Canadian mineral exploration company that has assembled extensive and highly prospective properties in Fiji on which recent and previous exploration has confirmed zinc, copper and precious metals mineralization. The Liwa Creek gold prospect and Rama Creek copper/gold porphyry are two of the Company’s four distinct projects. The Company provides investors with exposure to a diverse portfolio of exploration stage projects with potential for zinc, copper, gold and silver in a politically safe and stable jurisdiction. Thunderstruck trades on the Toronto Venture Exchange (TSX-V) under the symbol “AWE” and United States OTC under the symbol “THURF.”
Find out more http://www.thunderstruck.ca