Thunderstruck Announces Commencement of Diamond Drilling at the High-Grade Liwa Gold-Silver Project, Fiji
Thunderstruck begins drilling at Liwa while facing a Q4 capital raise due to a thin cash runway.
Thunderstruck Resources Ltd. (AWE) has initiated its first systematic diamond drilling program at the Liwa gold-silver project in Fiji. The company has contracted Huakan Group to conduct the work using a track-mounted HYDX-6F rig. The initial phase targets three epithermal prospects: Liwa Ridge, Jensen's, and Lower Vatuvatulevu. Four holes are planned, with completion expected by mid-December 2026, after which assays will follow immediately.
Future exploration plans include drilling at the Korokayiu VMS project in Q1 2027, followed by the Rama porphyry and Nakoro VMS targets later in 2027.
In corporate developments, the company terminated a previously announced private placement of common shares at $0.15 per share. A new fundraising round is anticipated in Q4 2026. Additionally, a prior options grant was corrected from 2,550,000 to 2,450,000 options.
Thunderstruck Resources Ltd. (AWE) has begun drilling, a move that directly follows its August 13, 2026 announcement regarding camp construction and contractor mobilization. This development represents an expected operational milestone rather than a surprise catalyst.
The company also terminated a $0.15 private placement and explicitly mentioned a Q4 2026 capital raise, introducing immediate dilution risk. With a reported cash position of $217,836 as of Q3 2025 and a nine-month operating burn of $510,001, the cash runway is critically short. Consequently, the market will focus heavily on the terms of the upcoming raise.
The news aligns with previous expectations and management's stated 2026 exploration timeline. Additionally, a correction to the options grant is immaterial to the capital structure but highlights administrative precision.
Thunderstruck Resources Ltd. (AWE) is a Vancouver-based exploration company focused on a approximately 336 km² land package in Fiji. The company’s flagship project is Liwa, an intermediate sulfidation-style epithermal gold-silver system featuring a 3km structural corridor with four high-grade targets. Additional prospects include Korokayiu, a Zn-Cu VMS deposit with mineralization within 100m of surface; Rama, a Cu-Au porphyry; and Nakoro, another Zn-Cu VMS deposit.
All assets are in the exploration stage, and no NI 43-101 compliant resources or reserves have been reported. Historical sampling has identified high-grade anomalies, including a float sample at Lower Vatuvatulevu returning 41.6 g/t Au + 1,205 g/t Ag. The jurisdiction is noted for pro-mining regulations, established infrastructure, and a long mining history, though political and social risks are inherent to any emerging market.