Vancouver, British Columbia--(Newsfile Corp. - January 16, 2024) - Tudor Gold Corp. (TSXV: TUD) (FSE: H56) (the "Company" or "Tudor Gold") is pleased to present the seventh and final set of drill results for the 2023 exploration program (the "Program") at their flagship property, Treaty Creek, located in the heart of the Golden Triangle of Northwestern British Columbia.
The Company has safely and successfully completed the 2023 drilling program with a total of 31,904 meters (m) drilled within areas encompassing the Goldstorm Deposit (the Deposit) and the Perfectstorm Zone. The assay results reported in this release are from two drill holes that targeted the northeastern area of the Deposit. Click to view plan map and cross sections.
Ken Konkin, President and CEO, comments: "We are very pleased to release the results from the last two drill holes of the 2024 drill program. We completed 33 holes this year of which eight were completed at the Perfectstorm system and 25 drill holes at the Goldstorm Deposit. The objective of the Goldstorm drilling was to convert as much of the Inferred Mineral Resources to the Indicated Mineral Resource category as well as expand the Deposit into the north where we have encountered the strongest Au-Cu-Ag mineralization to-date. I congratulate our field crews and service contractors for completing yet another safe and successful season. Clearly the highlight of these last two holes is the impressive continuation of encountering higher Au-Cu-Ag grades than contained within our latest NI 43-101 Mineral Resource Estimate for the Goldstorm Deposit which hosts an Indicated Mineral Resource of 23.37 million ounces of AuEQ grading 1.13 g/t AuEQ and an Inferred Mineral Resource of 7.35 million ounces of AuEQ grading 0.98 g/t AuEQ.
"An enriched core of mineralization occurs within the 300H and CS-600 domains. Drill hole GS-23-178-W1 demonstrates this well; the gold-dominant 300H domain cut an impressive intercept of 138 m grading 1.67 g/t AuEQ which contains a center core of mineralization that averages much higher; 3.08 g/t AuEQ over 57 m. Down hole within the CS-600 domain, we intersected a much more impressive 258 m averaging 2.00 g/t AuEQ with an enriched center portion averaging 3.19 g/t AuEQ over 66 m. It's important to note that we are still encountering incredibly long drill hole intercepts such as 570 m that averaged 1.21 g/t AuEQ within the CS-600 domain in hole GS-23-178-W1. However, we are focussed on developing areas with the highest gold and copper grades of the Deposit and expanding the Au-Cu CS-600 domain as a priority. We are confident that the copper content will be an important factor as we advance this project. Within the DS5 domain, our last hole GS-23-180 was unfortunately lost due to ground conditions and was abandoned in strong mineralization at depth. The final 4.75 m averaged 2.31 g/t AuEQ. A significant intercept was encountered higher in the upper part of the domain averaging 1.01 g/t AuEQ over 201 m and similarly had an enriched central portion that averaged much higher: 1.82 g/t AuEQ over 81.5 m. Hole GS-23-178-W1 increases the drilling density in a significant area of the CS-600 domain that is characterized as Inferred Mineral Resources and will support potentially converting that to Indicated Mineral Resources whereas GS-23-180 was a step-out exploration drill hole, outside the current resource model to the northeast and will add overall ounces to the next mineral resource estimate.
"Our technical team and consultants are currently updating the geological and resource model. Once our final interpretation is complete, we will plan the 2024 drill hole program. The goal is to close-off and completely constrain the entire Goldstorm Deposit so we can determine the location, shape, size and grade of all mineralized domains. When the Deposit is completely drilled-off and we have competed the final resource estimate, we plan to proceed with a Preliminary Economic Study (PEA). The Goldstorm Deposit remains open in all directions and at depth."
Section A
- GS-23-178-W1: Was drilled to target the CS-600 domain where the current Mineral Resource Estimate is categorized as Inferred mineral resources. The hole first intersected the 300H domain with 138.0 m grading 1.67 g/t AuEQ (1.60 g/t Au, 5.81 g/t Ag, 0.01 % Cu) and then successfully intersected the CS-600 domain with an overall interval of 570.0 m grading 1.21 g/t AuEQ (0.75 g/t Au, 8.09 g/t Ag, 0.31 % Cu) including 258.0 m grading 2.00 g/t AuEQ (1.30 g/t Au, 14.28 g/t Ag, 0.47 % Cu) and 66.0 m grading 3.19 g/t AuEQ (1.99 g/t Au, 24.46 g/t Ag, 0.80 % Cu).
Section B
- GS-23-180: This hole was drilled as a 175 m northern step-out on the DS5 domain. The hole successfully intercepted characteristic Au-Ag mineralization with a 201.0 m intercept of DS5 grading 1.01 g/t AuEQ (0.92 g/t Au, 4.93 g/t Ag, 0.04 % Cu) including an 81.5 m intercept grading 1.82 g/t AuEQ (1.64 g/t Au, 9.36 g/t Ag, 0.07 % Cu). This hole was lost within well mineralized fractured ground over the final 4.75 m that averaged 2.31 g/t AuEQ (2.17 g/t Au, 11.85 g/t Ag, 0.02 % Cu).
Table 1: Drilling Results for Goldstorm Deposit in Press Release January 16, 2023
| Section | Hole | Zone | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu (%) | AuEQ (g/t) |
| A | GS-23-178-W1 | 300H | 328.50 | 466.50 | 138.00 | 1.60 | 5.81 | 0.01 | 1.67 |
| including | 385.50 | 442.50 | 57.00 | 2.98 | 8.72 | 0.01 | 3.08 | ||
| including | 409.50 | 421.50 | 12.00 | 5.90 | 12.32 | 0.01 | 6.04 | ||
| including | 409.50 | 412.50 | 3.00 | 11.66 | 2.15 | 0 | 11.68 | ||
| CS-600 | 1002.00 | 1572.00 | 570.00 | 0.75 | 8.09 | 0.31 | 1.21 | ||
| including | 1263.00 | 1521.00 | 258.00 | 1.30 | 14.28 | 0.47 | 2.00 | ||
| including | 1294.50 | 1360.50 | 66.00 | 1.99 | 24.46 | 0.80 | 3.19 | ||
| including | 1294.50 | 1318.50 | 24.00 | 3.01 | 44.37 | 1.07 | 4.71 | ||
| B | GS-23-180 | DS5 | 836.00 | 1037.00 | 201.00 | 0.92 | 4.93 | 0.04 | 1.01 |
| including | 870.50 | 952.00 | 81.50 | 1.64 | 9.36 | 0.07 | 1.82 | ||
| including | 870.50 | 893.00 | 22.50 | 3.30 | 28.63 | 0.22 | 3.84 | ||
| DS5 | 1080.50 | 1181.00 | 100.50 | 0.68 | 2.03 | 0.01 | 0.71 | ||
| DS5 | 1410.45 | 1464.75 | 54.30 | 0.56 | 6.54 | 0.02 | 0.65 | ||
| including | 1460.00 | 1464.75 | 4.75 | 2.17 | 11.85 | 0.02 | 2.31 | ||
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Table 2: Drill data for holes in Press Release January 16, 2023
| Section | Hole ID | UTM E NAD 83 | UTM N NAD 83 | Elevation (m) | Azi (ᵒ) | Dip (ᵒ) | Depth (m) |
| A | GS-23-178-W1 | 428867 | 6273470 | 1279 | 297 | -61 | 1554 |
| B | GS-23-180 | 429357 | 6273557 | 1225 | 270 | -70 | 1466 |
Qualified Person
The Qualified Person for this news release for the purposes of National Instrument 43-101 is the Company's President and CEO, Ken Konkin, P.Geo. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.
QA/QC
Diamond drill core samples were prepared at MSA Labs' Preparation Laboratory in Terrace, BC and assayed at MSA Labs' Geochemical Laboratory in Langley, BC. Analytical accuracy and precision are monitored by the submission of blanks, certified standards and duplicate samples inserted at regular intervals into the sample stream by Tudor Gold personnel. MSA Laboratories quality system complies with the requirements for the International Standards ISO 17025 and ISO 9001. MSA Labs is independent of the Company.
About Treaty Creek
The Treaty Creek Project hosts the Goldstorm Deposit, comprising a large gold-copper porphyry system, as well as several other mineralized zones. As disclosed in the "NI-43-101 Technical Report for the Treaty Creek Project", dated April 28, 2023 prepared by Garth Kirkham Geosystems and JDS Energy & Mining Inc., the Goldstorm Deposit has an Indicated Mineral Resource of 23.37 Moz of AuEQ grading 1.13 g/t AuEQ (18.75 Moz gold grading 0.91 g/t, 2.18 Blbs copper grading 0.15 %, 112.4 Moz silver grading 5.45 g/t) and an Inferred Mineral Resource of 7.35 Moz of AuEQ grading 0.98 g/t AuEQ (5.54 Moz gold grading 0.74 g/t, 0.85 Blb copper grading 0.16 %, 45.08 Moz silver grading 5.99 g/t), with a pit constrained cut-off of 0.5 g/t AuEQ and an underground cut-off of 0.7 g/t AuEQ. The Goldstorm Deposit has been categorized into three dominant mineral domains and several smaller mineral domains. The CS-600 Domain largely consists of an intermediate intrusive stock and hosts the majority of the copper mineralization within the Goldstorm Deposit. CS-600 has an Indicated Mineral Resource of 9.86 Moz AuEQ grading 1.10 g/t AuEQ (6.22 Moz gold grading 0.70 g/t, 1.98 Blbs copper grading 0.32 %, 51.1 Moz silver grading 5.71 g/t) and an Inferred Mineral Resource of 3.71 Moz AuEQ grading 1.19 g/t AuEQ (2.32 Moz gold grading 0.75 g/t, 0.76 Blb copper grading 0.36 %, 18.71 Moz silver grading 6.01 g/t). The Goldstorm Deposit remains open in all directions and requires further exploration drilling to determine the size and extent of the deposit.
1 AuEQ = Au g/t + (Ag g/t*0.0098765) + (Cu ppm*0.0001185)
About Tudor Gold
TUDOR GOLD CORP. is a precious and base metals exploration and development company with claims in British Columbia's Golden Triangle (Canada), an area that hosts producing and past-producing mines and several large deposits that are approaching potential development. The 17,913 hectare Treaty Creek project (in which TUDOR GOLD has a 60% interest) borders Seabridge Gold Inc.'s KSM property to the southwest and borders Newmont Corporation's Brucejack property to the southeast.
ON BEHALF OF THE BOARD OF DIRECTORS OF
TUDOR GOLD CORP.
"Ken Konkin"
Ken Konkin
President and Chief Executive Officer
For further information, please visit the Company's website at www.tudor-gold.com or contact:
Chris Curran
Head of Corporate Development and Communications
Phone: (604) 559 8092
E-Mail: chris.curran@tudor-gold.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including the completion and anticipated results of planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connation thereof.
Such forward-looking information and statements are based on numerous assumptions, including among others, that the Company's planned exploration activities will be completed in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.
The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
Treaty Creek – Plan Map
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Goldstorm Deposit – Section A Cross Section
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Goldstorm Deposit – Section B Cross Section
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/194317
