Great Thunder Gold Corp. [GTG-CSE; GTGFF-OTC Pink; M4KQ-FSE] has entered into an option agreement to acquire the 5,525-hectare Goldson properties located 58 km northeast of Gander, Newfoundland. With this addition, Great Thunder has strategically expanded its land holdings in Newfoundland from 1,195 claims to 1,416 claims (354 km2 or 35,400 hectares).
The claims package combines the Central Gold Goldson North (GSN), Central Gold Goldson South (GSS) and Central Gold Goldson West (GSW) properties into the Goldson properties. All three claim groups are in northeast Newfoundland and are located on or adjacent to New World Island. The area is accessible by causeway from the main part of the island and the properties can be accessed by road and by boat.
The properties lie in the northeastern corner of the Exploits Subzone (Dunnage Zone) of Central Newfoundland. The GSN property is underlain mostly by the Ordovician Badger and Chanceport groups and the Cambrian Twillingate Pluton to the north. The GSS property is underlain mostly by the Ordovician Dunnage Melange. The GSW is underlain mostly by mafic volcanics of the Chanceport and Moreton’s Harbour groups.
Under the terms of the option agreement, Great Thunder can acquire a 100% interest in the Goldson properties from the optionors by paying $20,000 cash and 250,000 shares immediately; a further $30,000 and 350,000 shares within one year; a further $45,000 and 550,000 shares within two years and a final $55,000 and 800,000 shares within three years.
The optionors will also retain a 2% net smelter returns royalty, with Great Thunder having the option to buy back 1% for $1,000,000.