Thunderstruck Resources drilling high-grade Liwa gold-silver project, Fiji
Thunderstruck Resources Ltd. [TSXV: AWE; OTC Pink: THURF] reported the start 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. 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. 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.
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.”
The company granted an aggregate 200,000 incentive stock options to certain employees and consultants of the company, exercisable for five years at a price of $0.11 until expiry November 10, 2028.
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.
In other news, the company reports that it has terminated its previously announced private placement of common shares at a price of $0.15 per share as announced August 13, 2026. The company anticipates a future fundraising in Q4 and will announce details when determined.
Thunderstruck Resources is focused on the discovery of 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 100% owner of two granted Special Prospecting Licences (SPL 1425 contains the Liwa epithermal gold-silver, Rama porphyry copper-gold, and Nakoro zinc-copper VMS projects, and SPL 1416 contains the Korokayiu VMS project) covering a total of ~336 km2 of highly-prospective geology for the discovery of both base and precious metals deposits.
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 at 8.41 g/t Au (177,000 oz) and Inferred Resource of 1.39 Mt at 7.6 g/t Au (340,000 oz) at a 3 g/t Au cut-off and Namosi (Newmont) Deecember 31, 2024 Measured and Indicated Resource of 1.6Bt at 0.35% Cu and 0.11 g/t Au (6.4M oz Au and 6.3Mt Cu).
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