Thunderstruck Announces Commencement of Diamond Drilling at the High-Grade Liwa Gold-Silver Project, Fiji
The first Liwa assays are expected immediately after the initial four holes are completed, while Q4 fundraising is anticipated.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Thunderstruck Resources (THURF) has commenced diamond drilling at its Liwa gold-silver project in southern Viti Levu, Fiji. The program will systematically test approximately 2km of strike extent across Liwa Ridge, Jensen's and Lower Vatuvatulevu, three of four known targets. Weather permitting, the company expects the first four holes to be completed by mid-December 2026, with first assays immediately thereafter.
Thunderstruck expects drilling at Korokayiu in Q1 2027, weather permitting, followed by Rama and Nakoro later in 2027. It terminated its previously announced $0.15-per-share private placement and anticipates fundraising in Q4. It also granted 200,000 incentive stock options at $0.11 and corrected its June 30, 2026 grant count to 2,450,000 options from the previously reported 2,550,000.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointLiwa drilling commenced, targeting approximately 2km of strike extent across three of four known targets.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Future fundraising is anticipated in Q4.
- Minor point. Forward-looking: it has not happened yet and may not happen.First four Liwa holes are expected completed by mid-December 2026, with first assays immediately thereafter.
- Minor pointPrevious Lower Vatuvatulevu float sampling returned 41.6 g/t gold and 1,205 g/t silver in one sample.
- Minor point. Forward-looking: it has not happened yet and may not happen.Korokayiu drilling is expected in Q1 2027.
- Minor point. Forward-looking: it has not happened yet and may not happen.Rama and Nakoro drilling is expected to be completed later in 2027.
Negative
- Moderate point$0.15-per-share private placement announced August 13, 2026 has been terminated.
- Minor point200,000 incentive stock options at $0.11 create potential dilution for existing shareholders.
- Minor point. Forward-looking: it has not happened yet and may not happen.Weather conditions qualify the expected Liwa completion schedule and subsequent Korokayiu drilling.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - October 20, 2026) - Thunderstruck Resources Ltd. (TSXV: AWE) (OTC Pink: THURF) ("Thunderstruck" or the "Company") is pleased to announce the commencement of diamond drilling at its high-grade Liwa gold-silver project located in southern Viti Levu, Fiji. The current drill program represents the first systematic test of approximately 2km strike extent of the Liwa project and covers three of the four gold-silver targets known to date - Liwa Ridge, Jensen's, and Lower Vatuvatulevu.
Drilling of the first four holes at Liwa is currently expected to be completed by mid-December 2026, with first assays expected to be received immediately thereafter. Weather conditions permitting, the Company then expects diamond drilling to be undertaken at the Korokayiu zinc-copper massive sulfide ("VMS") project during Q1, 2027, with further drilling at the adjacent Rama porphyry copper-gold cluster and Nakoro zinc-copper VMS targets then expected to be completed later in 2027.
Highlights
- A first-pass diamond drill program is now underway at the high-grade Liwa gold-silver project in southern Viti Levu, Fiji (Figure 1). The current drill program is expected to test three of the four main epithermal gold-silver targets - Liwa Ridge, Jensen's, and Lower Vatuvatulevu - identified to date through Company mapping / sampling programs (Figure 2). Previous rock chip ("Ridge and Spur") and float sampling programs at Liwa have returned elevated gold and silver values, including 41.6 g/t Au + 1,205 g/t Ag from one float sample at Lower Vatuvatulevu (see News Release).
- Drill program to be executed by contractor Huakan Group using a track-mounted HYDX-6F rig.
- Mineralization at Liwa is interpreted by the Company to be intermediate sulfidation-style, with gold-silver mineralization often controlled by NE-trending fault zones and associated with kaolinite-poor argillic alteration assemblages.
- Weather conditions permitting, the first four holes at Liwa are expected to be completed by mid-December 2026, with drilling then expected to move on to the Korokayiu VMS project in Q1, 2027.
Bryce Bradley, Thunderstruck's President and CEO, commented: "I am very pleased to be reporting today the commencement of diamond drilling at our Liwa gold-silver project. Successive field campaigns at Liwa by Thunderstruck have generated a series of high quality gold-silver targets which we now have the opportunity to drill test in a systematic fashion for the very first time. In partnership with our new major shareholder, Zhaojin International Gold Co. Ltd, and contractor Huakan Group, we look forward to advancing our geological understanding for, and determining the resource potential of, the Liwa project. I look forward to keeping the market updated on progress."
Figure 1. Location of the Liwa gold-silver project in southern Viti Levu, Fiji.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2901/319950_18324eacd4a08ae5_001full.jpg
Granting of Incentive Options
The Company also wishes to announce that it has granted an aggregate 200,000 incentive stock options to certain employees and consultants of the Company, exercisable for a period of 5 years at a price of
The Company also wishes to correct its press release dated June 30, 2026 in respect of the number of options then granted. An aggregate of 2,450,000 options were granted and not 2,550,000 options as initially indicated.
Figure 2. Locations of the known gold-silver targets at Liwa - Liwa Ridge, Jensen's, Lower Vatuvatulevu, and Gun - together with the first four planned holes from the current drill program.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2901/319950_18324eacd4a08ae5_002full.jpg
In other news, the Company reports that it has terminated its previously announced private placement of common shares at a price of
Qualified Persons and Disclosure Statement
The technical information presented in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 ("NI 43-101") and approved by Eric Roth, a Non-Executive Director of the Company and a Qualified Person under NI 43-101. Mr. Roth holds a Ph.D. in Economic Geology from the University of Western Australia, is a Fellow of the Australian Institute of Mining and Metallurgy (AusIMM), and is a Fellow of the Society of Economic Geologists (SEG). Mr. Roth has over 35 years of experience in international minerals exploration and mining project evaluation.
About Thunderstruck Resources
Thunderstruck Resources is a Canadian mineral exploration and development company focused on the discovery of high value porphryry copper-gold, epithermal gold-silver, and VMS-style base-metal deposits in the southern part of Fiji's main island, Viti Levu. The Company is
Fiji has a long history of mining with over 75 years of activity at the prolific Vatukoula (formerly Emperor) Gold Mine, alongside several other advanced development projects and mines including Tuvatu (Lion One Metals; June 2024 Indicated Resource of 0.66 Mt @ 8.41 g/t Au (177,000 oz) and Inferred Resource of 1.39 Mt @ 7.6 g/t Au (340,000 oz) at a 3 g/t Au cut-off Resources | Lion One Metals Limited) and Namosi (Newmont) Deecember 31, 2024 Measured and Indicated Resource of 1.6Bt at
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 (TSXV) under the symbol "AWE" and United States OTC under the symbol "THURF."
For additional information, please contact:
Bryce Bradley, Chief Executive Officer
Email: bryce@thunderstruck.ca
P: +1 604 349-8119
or, visit our website: http://www.thunderstruck.ca
Cautionary Notes and Forward-looking Statements
This news release contains forward-looking information within the meaning of applicable securities legislation. Forward-looking information is 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. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of Thunderstruck, including the timing, completion of and results from the exploration and drill programs described in this release. Although the Company believes that such statements are reasonable, it can give no assurances that such expectations will prove to be correct. All such forward-looking information is based on certain assumptions and analyses made by Thunderstruck in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. This information, however, is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Important factors that could cause actual results to differ from this forward-looking information include those described under the heading "Risks and Uncertainties" in Thunderstruck's most recently filed MD&A. Thunderstruck does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/319950
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
When does Thunderstruck expect the first Liwa drilling results?
Thunderstruck expects first assays immediately after completing the first four Liwa holes, which is expected by mid-December 2026, weather permitting.
What happened to Thunderstruck's $0.15 private placement?
Thunderstruck has terminated the common-share private placement at $0.15 per share announced August 13, 2026. The company anticipates future fundraising in Q4 and will announce details when determined.
Who is carrying out Thunderstruck's Liwa drilling program?
Contractor Huakan Group is executing the Liwa drill program using a track-mounted HYDX-6F rig.