Great Thunder Gold Corp.Â (CSE:Â GTG) (OTC: GTGFF) (FSE: M4KQ) announced it has entered into a purchase and sale agreement with Unity Resources Group for a 100% interest in five different properties within the Central Belt of Newfoundland. The properties consist of 366 claims covering 91.5 km2 or 9,150 hectares.
With this acquisition, Great Thunder has substantially expanded its strategic land holdings in Newfoundland from 511 claims to 877 claims covering 219.25 km2 or 21,925 hectares. This latest acquisition makes Great Thunder a significant landholder in the Newfoundland Gold Rush triggered by New Found Gold’s multiple discoveries and Marathon Gold’s excellent exploration and development results.
Great Thunder’s CEO Mr. Blair Naughty comments, “We are very pleased to have struck a deal to acquire these properties. The vendors are led by Mr. Gary Lewis, a Newfoundland-based prospector who has the first-mover advantage with these projects. Gary was the person that first toured the New Found Gold team as they entered the province as a private company. Some of Great Thunder’s newly-acquired claim blocks are highly prospective given that they all are near the excitement, and most were held prior to other companies joining the rush, including New Found Gold. This truly gives us the upper hand. Also, the deal comes with new shareholders, partners and technical advisors who have the connections, wherewithal and abilities to move these projects forward quickly.”
To complete the purchase, Great Thunder will pay $150,000 and issue 3,200,000 common shares to the vendors and certain of the vendors will retain a 2% net smelter returns royalty, of which Great Thunder may buy back 1% of the royalty for $1,500,000.
Great Thunder Gold is a junior Canadian mining exploration company focused on exploration and development along the Detour Gold trend and the La Corne pegmatite field in Quebec and the New Found Gold trend in Newfoundland. The Company is one of the largest mineral claim holders in the Fenelon Gold Camp next to the leading Wallbridge Mining.