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Thunderstruck Resources to partner with Japan's JOGMEC on Fiji property

JOGMEC is a C$11 billion group mandated to ensure cost-effective supplies of metals for Japan

Businessman inking a deal
Thunderstruck has inked a joint venture agreement with JOGMEC

Thunderstruck Resources Ltd (CVE:AWE) (OTCQB:THURF) has announced a  joint venture deal with the Japanese government group, Japan Oil, Gas and Metals National Corporation (JOGMEC) to develop its Wainaleka VMS (volcanogenic massive sulfide) discovery in Fiji.

JOGMEC is a C$11 billion group mandated to ensure steady, cost-effective supplies of metals for Japan and its industries.

READ: Thunderstruck Resources closes financing; raises C$100,000 to bolster Fiji exploration program

The partnership grants JOGMEC the option to earn a 70% ownership interest by funding C$3.5 million worth of exploration through to March 31, 2022, which could be accelerated.

"We welcome a partnership with JOGMEC to develop our Wainaleka high-grade VMS discovery," said  Bryce Bradley, CEO of British Columbia-based Thunderstruck.  "We're especially pleased that JOGMEC is proposing an aggressive initial exploration program culminating in diamond drilling during this year's field season."

One of four Fiji projects

The company boss added that Wainaleka, which has now been renamed Korokayiu, is one of Thunderstruck's four projects in Fiji.

The company also aims to secure joint venture partners for its Rama copper/gold porphyry and Nakoro VMS, while advancing the Liwa gold project into a drill program, also in Fiji.

Anglo Pacific drilled the Korokayiu asset in 1977, where highly anomalous values were hit. These included 6.2m (meters) at 1.8% copper, 12.0% zinc and 25 g/t (grams per ton) silver. Also found was  10m at 2.3% copper, 5.5% zinc and 47 g/t silver.

Geologic mapping has shown 15 km of prospective strike and eight more underexplored zinc-copper VMS prospects.

Contact Giles at [email protected]

Follow him on Twitter @Gile74

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Thunderstruck preparing for a busy summer and fall with work on Rama and Liwa

Thunderstruck Resources (CVE:AWE) President and CEO Bryce Bradley joined Steve Darling from Proactive Investors Vancouver on Skype to bring the news company is planning a busy summer and fall on their projects in Fiji. Bradley updated the work that will happen, how their JV with JOGMEC is...

on 05/16/2019

2 min read