URBAN THUNDER GOLD PROJECT
Urban Thunder Gold Project
In March 2017, the Company acquired the Urban Thunder Project, which comprises 20 contiguous cell mineral claims covering approximately 1,127 hectares located 12 kilometres northwest of Metanor Resources Inc.’s Barry gold deposit, 15 kilometres west of Osisko Mining Inc.’s Windfall Lake gold deposits, and 18 kilometres west-northwest of BonTerra Resources Inc.’s Gladiator gold deposit. These Abitibi-type gold deposits are hosted in a variety of Archean age metavolcanic and intrusive rocks associated with magnetic high responses within a Z-shaped pattern of major east trending structures and offsetting northeast trending structures.
The Urban Thunder Project lies in a similar structural setting as the Gladiator gold deposit
2021
Management fees paid to a corporation controlled by the Company’s
Chief Executive Officer $ 56,000
Management fees paid to the Company’s former Chief Executive Officer 19,000 Management fees paid to a corporation controlled by the Company’s
Chief Financial Officer 98,275 Consulting fees paid to a director 7,000 Fair value of stock options to purchase 1,500,000 shares of the Company
at $0.75 per share to two officers and three directors 1,034,232 $1,214,507
2020
$ - 22,500
38,752 -
- $ 61,252
- 11 -
underlain by rocks similar to the Windfall Lake and Barry gold deposits. Management believes that the geological setting of the property is very favourable to hosting similar deposits and plans an intensive and systematic exploration program as funds permit.
The Company completed a soil geochemistry survey on its Urban Thunder property in October 2017. The survey was undertaken on GPS lines 400 metres apart with sampling every 100 metres. A total of 301 samples were drawn, to the extent possible, from the B soil horizon and were sent for analysis at ALS Canada’s laboratory in Val d’Or, Quebec.
The samples were analyzed using ALS codes Au-ICP-21 and ME-ICP41. Au-ICP21 consists of analysis of gold by fire assay with an ICP-AES finish on 30-gram samples. The detection limits of this method are from 0.001 g/t to 10 g/t gold. The samples were then submitted to the second analytical method – ME-ICP41 – where elements are estimated using aqua regia digestion followed by analysis using ICP-AES. Included in this package of 35 elements are silver, arsenic, copper, nickel and zinc.
A preliminary evaluation of the results revealed several gold anomalous results up to 24 ppb, mainly obtained on the northern part of the property