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Toronto, Ontario–(Newsfile Corp. – February 19, 2020) – Dejected Thunder Mining Inc. (TSXV: BLUE) (“BLUE” or the “Company”) is admiring to advertise that it has active a Letter of Intent (“LOI”), anachronous February 19, 2020 with O3 Mining Inc. (TSXV: OIII) (“O3”) to access 100% absorption in O3’s Fancamp and Embry gold backdrop (“the Properties”), amid in the Chibougamau Mining Commune of Quebec.
“The accession of O3’s Fancamp and Embry backdrop to our absolute ample acreage amalgamation of about 47,600 hectares in the Chibougamau breadth is absolute agitative indeed”, BLUE Chairman and CEO Chad Williams commented. “These new mineral claims accept several authentic gold zones with avant-garde drill-ready targets. We acceptable O3, allotment of the Osisko Group, as a cogent new actor in Dejected Thunder.”
Jose Vizquerra, President and CEO of O3 Mining, stated, “By automat these backdrop into Dejected Thunder, we accretion acknowledgment to a abundant beyond acreage amalgamation in what is a bound arising gold commune in Quebec. The denial is allotment of our on-going action to put our non-core assets into the easily of able-bodied backed and technically able operators. We are aflame to be allotment of Dejected Thunder at this aboriginal date of the Company’s journey. “
Fancamp Acreage Details
The Fancamp gold acreage (“Fancamp”), comprises 37 abutting mining claims accoutrement an breadth of about 1,895 hectares (ha), about 55 kilometres (km) southwest of the boondocks of Chibougamau, aural the Archean Abitibi Greenstone Belt. It is strategically anchored amid BLUE’s Muus and Muus East Backdrop (see Figure 1). Fancamp has a absolute absolute analysis database including aerial and arena geophysics, apparent mapping, trenching and sampling, about 103 diamond-drill holes, and a baby analysis decline.
Fancamp is principally underlain by a arrangement of northeast-striking, mafic, average and felsic agitable rocks and sedimentary rocks that are intruded by gabbro sills, granodiorite-tonalite and granitic intrusions, and their associated porphyritic dykes. These units are belted to the east by the Verneuil Pluton and to the west by the Chico Stock (see Figure 2).
Past analysis at Fancamp has articular several zones of mineralization, which accommodate the A-, B-, D-, and E-Zones, all of which are spatially associated with the Fancamp Fault, a northeast to south-southeast trending high-strain (“shear”) area that extends for added than 2 km beyond the acreage (see Figure 2). Another area of gold mineralization (the C-Zone) is hosted by the Fancamp Deformation Corridor, a aloft northeast-trending microburst area to the northwest of the Fancamp Fault.
Gold mineralization at Fancamp occurs primarily aural mineralized microburst zones and veins. Interpretation of abundant mapping and trenching surveys completed in 2006 and 2010 by Murgor Assets Inc. suggests that veining is clearly bigger developed aural the articulation zones of bounded agee S-shaped folds1. These hinge-zones are acute targets for approaching analysis as no drill-holes accept activated their projected down-plunge extensions.
1 Desrochers, J.P., 2010. Report on the Trenching Affairs on the Fancamp Project, Fancamp Township, Northern Quebec. Murgor Assets Inc. (GM65165).
The A-Zone comprises two detached and alongside mineralized structures, which can be traced forth bang for about 250 metres (m). A north-northwesterly coast mineralized shoot (the A-2 Zone) has been authentic on one of these structures, and charcoal accessible beneath 60 m depth.
Selected absolute conduct highlights from the A-Zone, include:
The B-Zone lies about 400 m north-northeast of the A-Zone and comprises two sub-parallel mineralized structures that can be traced over a bang of about 350 to 450 m. The B-Zone has been explored through trenches, about 17 diamond-drill holes and a 100 m abatement ramp, which extends to a vertical abyss of 13.4 m. A north-northwest coast mineralized shoot articular by the conduct charcoal accessible at depth.
Selected cogent absolute assignment after-effects from the B-Zone include:
Selected cogent absolute (2009) apparent arroyo after-effects from the B-Zone include:
The D- and E-Zones are amid about 450 m and 1,400 m northeast of the B-Zone, respectively, and are both early-stage targets with bound drilling. Each, however, has noteworthy drill-intersections including 4.6 g/t gold over 3.05 m (from 108.84 to 111.89 m in aperture MF-88-1) at the D-Zone; and, a apparent arroyo sample from the E-Zone that graded 8.52 g/t gold over 0.75 m. Absolute little analysis has been done amid the assorted zones and the Aggregation believes that there is acceptable abeyant for the actuality of added zones.
Adjacent and adjoining gold deposits to Fancamp accommodate the Chevrier Main Area Deposit (8.49 Mt @ 1.45 g/t gold Indicated – 395,000 ounces gold; additional 5.92Mt @ 1.34 g/t gold Inferred – 254,000 ounces gold2) captivated by Genesis Metals, and amid about 5 km northeast of Fancamp; and the Monster Lake Deposit (1.11 Mt at 12.14 g/t gold Inferred – 433,000 ounces gold3), captivated in a JV amid Toma and Iamgold, and amid about 5 km to the west. The mineral assets and mineralization on the adjoining backdrop are not necessarily apocalyptic of any abeyant mineralization on Fancamp and there is no acceding that any mineral assets will be apparent on Fancamp.
2 Chevrier NI 43-101 Abstruse Evaluation Report, Feb 4, 2019, Prepared for Genesis Metals Inc3 Monster Lake NI 43-101 Abstruse Report, Apr 9, 2018, Prepared for Iamgold Corp and Tomagold Corp
Embry Acreage Details
The Embry Acreage (“Embry”) is an early-stage analysis project, about 17 km arctic of Fancamp and 25 km southwest of Chibougamau, absolute 11 abutting mining claims accoutrement about 668 ha. Embry strategically overlies the circle of the east-west trending Kapunapotagen accountability with several north-northeast trending shear-zones agnate to those that are accepted to host gold mineralization in the Chibougamau Mining District.
Agreement Amid BLUE and O3
BLUE and O3 active a non-binding LOI on February 19 2020. The acceding of the LOI accompaniment that BLUE will access 100% absorption in the Backdrop in application for (i) the arising of 4,514,436 accepted shares of BLUE to O3 (equivalent to about 8.7% of the currently issued and outstanding accepted shares of BLUE) and (ii) a 2% net smelter acknowledgment ability (“NSR”) over the Backdrop accepted to O3, accountable to BLUE accepting the advantage to buy-down to a 1% NSR for C$750,000.
Execution of the absolute acceding is accountable to achievement of a 60-day due activity aeon and cancellation of all all-important accumulated and authoritative approvals. Upon acknowledged achievement of the aloft BLUE will access 100% absorption in the Backdrop and O3 will become an important actor of BLUE.
The accurate and abstruse advice that forms the base for genitalia of this columnist absolution was advised and accustomed by John Langton (P.Geo.), who is a Qualified Person “(QP”) as authentic by National Instrument 43-101. The QP will appointment the Fancamp or Embry backdrop anon and appropriately cannot validate the absolute databases nor the after-effects of the absolute assignment presented.
About Dejected Thunder
Blue Thunder is a gold analysis aggregation focused on exploring its 100%-owned gold projects amid abreast Chibougamau, Quebec that comprise about 47,600 hectares of -to-be arena in the eastern allotment of the Abitibi Greenstone Belt. The Activity is advised decidedly -to-be for gold mineralization as a alternation of arresting adaptable and breakable fault‐sets transect the Project, including the Guercheville Deformation Zone, which is associated with abundant accomplished and currently bearing precious‐ and base‐metal mines in the Chibougamau Mining District.
About O3 Mining Inc.
O3 Mining, an Osisko accumulation of companies, is an arising consolidator of analysis backdrop in -to-be gold camps in Canada – focused on projects in Quebec and Ontario – with a ambition of acceptable a multi-million ounce, high-growth company. The Corporation’s ambition is to become one of the arch gold analysis companies in Canada.
O3 Mining is well-capitalized and holds a 100% absorption in a cardinal of backdrop in Quebec (435,000 hectares) and Ontario (25,000 hectares). O3 Mining controls 61,000 hectares in Val D’Or and over 50 kilometres of bang breadth of the Cadillac-Larder Lake Faut. O3 Mining additionally has a portfolio of assets in the James Bay and Chibougamau regions of Quebec and in the Hemlo commune in Ontario.
ON BEHALF OF THE BOARD
CEO and ChairmanBlue Thunder Mining Inc.105 King Street East, 2nd FloorToronto, OntarioM5C 1G6
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that appellation is authentic in the behavior of the TSX Venture Exchange) accepts albatross for the capability or accurateness of this release.
Cautionary Note Apropos Forward-Looking Statements
This columnist absolution contains advanced statements and advanced advice (collectively, “forward-looking statements”) aural the acceptation of applicative Canadian balance legislation. All statements, added than statements of absolute fact, included herein including, after limitation, statements apropos the advancing content, commencement, advancing analysis affairs results, the Company’s apprehension that it will be able to access into a Absolute Agreements to access the Fancamp and Embry Properties, and the advancing business affairs and timing of approaching activities of the Company, are advanced statements. Although the Aggregation believes that such statements are reasonable, it can accord no affirmation that such expectations will prove to be correct. Advanced statements are about articular by words such as: believe, expect, anticipate, intend, estimate, advance and agnate expressions, or are those, which, by their nature, accredit to approaching events. The Aggregation cautions investors that any advanced statements by the Aggregation are not guarantees of approaching after-effects or performance, and that absolute after-effects may alter materially from those in advanced attractive statements as a aftereffect of assorted factors, including, but not bound to, the accompaniment of the banking markets for the Company’s disinterestedness securities, the accompaniment of the article markets generally, variations in the nature, affection and abundance of any mineral deposits that may be located, variations in the bazaar amount of any mineral articles the Aggregation may aftermath or plan to produce, the disability of the Aggregation to access any all-important permits, consents or authorizations required, including TSXV acceptance, for its planned activities, the disability of the Aggregation to aftermath minerals from its backdrop auspiciously or profitably, to abide its projected growth, to accession the all-important basic or to be absolutely able to apparatus its business strategies, and added risks and uncertainties. All of the Company’s Canadian accessible acknowledgment filings may be accessed via www.sedar.com and readers are apprenticed to analysis these materials, including the abstruse letters filed with account to the Company’s mineral properties. This account absolution contains advice with account to adjoining or agnate mineral backdrop in the Chibougamau Commune in account of which the Aggregation has no absorption or rights to analyze or mine. Readers are cautioned that the Aggregation has no absorption in or appropriate to access any absorption in any such properties, and that mineral deposits, and the after-effects of any mining thereof, on adjoining or agnate properties, are not apocalyptic of mineral deposits on the Company’s backdrop or any abeyant corruption thereof.
Figure 1: Map depicting O3s Fancamp Acreage (in purple) in affiliation to BLUE’s acreage backing (in blue).
To appearance an added adaptation of Figure 1, amuse visit:https://orders.newsfilecorp.com/files/6951/52607_a5b65049a40f0b73_001full.jpg
1) Monster Lake NI 43-101 Abstruse Report, Apr 9, 2018, Prepared for Iamgold Corp and Tomagold Corp2) Nelligan NI 43-101 Abstruse Report, Oct 22, 2019, Prepared for Iamgold Corp and Vanstar Mining Resources3) Chevrier NI 43-101 Abstruse Evaluation Report, March 21, 2019, Prepared for Genesis Metals Inc4) Absolute Resource appraisal – Not in acquiescence with NI 43-101 and should not be relied upon
Figure 2: Map depicting gold zones basal O3’s Fancamp Acreage (Report on the Trenching Affairs on the Fancamp Project, Fancamp Township, Northern Quebec, Murgor Assets Inc., May 2010)
To appearance an added adaptation of Figure 2, amuse visit:https://orders.newsfilecorp.com/files/6951/52607_a5b65049a40f0b73_002full.jpg
To appearance the antecedent adaptation of this columnist release, amuse appointment https://www.newsfilecorp.com/release/52607
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