Thunderstruck Exploration Update License Renewal and $1.8M Private Placement
Rhea-AI Summary
Thunderstruck Resources (OTC: THURF) reported completion of the exploration camp and access road at its high-grade Liwa gold-silver project in Fiji, with drilling contractor and technical teams now mobilizing. The 2026 program will include geochemical sampling, geophysical surveys and an initial diamond drill campaign to assess Liwa’s potential.
The company also secured renewals of Special Prospecting Licenses 1425 and 1416, covering Liwa, Rama, Nakoro and Korokayiu prospects. Thunderstruck arranged a fully allocated, non-brokered private placement of 12,020,967 shares at $0.15 for gross proceeds of $1,803,145.05, mainly to fund Fiji exploration and working capital. Zhaojin will keep a 19.99% stake, while Asia Pacific Group will rise to 18%, subject to TSX Venture Exchange approval.
Positive
- $1.8M equity financing via 12,020,967 shares at $0.15
- Strategic investors Zhaojin and APG will hold 19.99% and 18%
- Exploration camp and access road completed at Liwa project
- Renewal of SPL 1425 and 1416 securing key Fiji prospects
Negative
- Equity issuance of 12,020,967 shares implies shareholder dilution
- Private placement closing remains subject to regulatory approval
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - August 13, 2026) - Thunderstruck Resources Ltd. (TSXV: AWE) (OTC: THURF) (the "Company") is pleased to announce that construction of the exploration camp and access road at its high-grade Liwa Gold-Silver Project has been completed. Mobilization of the drilling contractor and the Company's technical services team to Liwa is now underway.
The 2026 exploration program at Liwa is expected to include geochemical sampling, geophysical surveys and an initial diamond drill program designed to advance and further evaluate the project's gold-silver potential.
Further details regarding the scope, timing and objectives of the 2026 exploration program will be announced once the exploration team is fully established at camp.
Special Prospecting License Renewals
The Company is pleased to announce the renewals of Special Prospecting Licenses 1425 (in which the Liwa epithermal gold-silver, Rama porphyry copper-gold, and Nakoro VMS prospects are located) and SPL 1416 (Korokayiu VMS). The timing of these renewals are expected to allow the Company to complete the Liwa exploration campaign followed by the initiation of a late-year exploration program at Korokayiu. Further details will be announced as plans are finalized.
Liwa Gold/Silver epithermal/porphyry prospect features four high-grade precious metals targets over a 3km structural corridor and is open in all directions. Comprehensive geochemical and geophysical campaigns by the Company resulted in the discovery of numerous zones of alteration returning anomalous soil, outcrop, float and trench gold grades with coincident geophysical anomalies at depth.
Korokayiu high-grade zinc-copper VMS prospect offers potential for near-surface open-pit development as mineralization occurs within 100 metres of surface, and remains open along strike and at depth. Historic and recent drilling, surface sampling and geophysical programs have confirmed favourable mineralization and stratigraphy with high grade Zinc-Copper-Gold-Silver mineralization. (see news release)
Private Placement
The Company has arranged a non-brokered private placement (the "Placement") of 12,020,967 common shares (the "Offered Shares") at a price of
No finder's fees are payable in connection with the Placement.
Proceeds of the Placement will be used to fund exploration programs on the Company's Fiji properties and for general working capital. The Placement is subject to regulatory approval, including approval of the TSX Venture Exchange.
About Thunderstruck Resources
Thunderstruck Resources is a Canadian mineral exploration company focused on the discovery of high-value copper-gold porphyry, gold-silver epithermal and VMS base-metal deposits on the main island of Viti Levu, Fiji.
Fiji has a long history of mining, including more than 75 years of activity at the prolific Vatukoula Gold Mine, alongside several advanced development projects, including Tuvatu (Lion One Metals) and Namosi (Newmont).
The Company provides investors with exposure to a diverse portfolio of exploration-stage projects prospective for zinc, copper, gold and silver in Fiji. Thunderstruck trades on the TSX Venture Exchange under the symbol "AWE" and on the OTC market in the United States under the symbol "THURF."
Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements that may be deemed "forward-looking statements". Although Thunderstruck believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Thunderstruck's management on the date the statements are made. Except as required by law, Thunderstruck undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/309466