Vancouver, British Columbia--(Newsfile Corp. - August 11, 2022) - Tudor Gold Corp. (TSXV: TUD) (FSE: TUC) (the "Company" or "Tudor Gold") is pleased to present the fourth set of drill results for Phase l of the 2022 exploration program (the "Program") at their flagship property, Treaty Creek, located in the heart of the Golden Triangle of Northwestern British Columbia.
Ken Konkin, President and CEO, comments, "During the 2021 drill program, we drilled hole GS-21-113-W2 to the maximum depth possible and noted that the strongest sulphide mineralization occurred at the bottom of this hole. A decision was made to leave the casing and HQ rods in GS-21-113-W2 with the plan of returning to re-enter the hole this year with a more powerful diamond drill rig and we succeeded! The hole was extended 280.1 meters (m) demonstrating that gold and copper grades increase with depth as the strongest mineralization occurs between 1520 m and 1688 m. This portion of the hole averages 2.48 g/t AuEQ over 168 m with copper averaging 0.82 %. Silver mineralization is also becoming stronger at depth within the CS600 domain. In addition, results from targeting the DS5 domain were also successful with drill hole GS-22-139 which intersected 428 m of 1.07 g/t AuEQ and included an enriched upper portion that averaged 1.36 g/t AuEQ over 172.4 m. As previously reported, high-grade visible native gold has occurred from two of three aggressive step-out holes that were 225-meter and 500-meter step-out holes from the 2021 drilling program within the northeastern sector of the Goldstorm Deposit. These high-grade gold results may add a new dimension to the exploration potential of this project and we will continue to advance and explore this rapidly expanding aspect of these well mineralized domains."
The Program at the Treaty Creek property includes an aggressive resource expansion and delineation plan for several areas, including the Goldstorm Deposit and the Eureka and Calm Before the Storm Zones. Results included in this press release are reported from six diamond drill holes that were drilled on the Goldstorm Deposit from sections C and D. Five out of six holes were targeted outside the 2021 Mineral Resource Estimate area (see link: corresponding Treaty Creek plan map and sections).
- GS-21-113-W2, a 2021 drill hole (see November 30, 2021 press release), was re-entered and extended by 280.1 m to a total depth of 1855.1 m. The composited interval that includes 300H and CS600 domains, that was calculated in 2021, has been expanded from 1320.0 m of 0.97 g/t AuEQ to 1497.5 m grading 1.12 g/t AuEQ. The CS600 domain intercept was expanded from 556.5 m of 1.38 g/t AuEQ to 732.0 m grading 1.60 g/t AuEQ. The high-grade bottom segment of CS600 originally reported 57.0 m grading 2.34 g/t AuEQ which has now been extended to 168.0 m of 2.48 g/t AuEQ (1.41 g/t Au, 0.82 % Cu); visible gold was noted in one core sample. The drill hole successfully exited the lower boundary of the CS600, however, a downdip boundary (northwest boundary) of the orebody has not been identified and the CS600 currently remains open at depth where gold and copper grades are the highest. Increasing grades at depth are closely correlated with increasing potassic alteration as drilling information vectors towards the magmatic source of this extensive porphyry system.
- GS-22-143 stepped out 225 m to the northeast from the 2021 drilling and targeted 300H and CS600 mineralization. In addition to the high-grade interval of 39.15 g/t AuEQ over 2.0 m that was previously reported (see July 26, 2022 press release) a 102.25 m interval grading 0.98 g/t AuEQ in the CS600 area was intercepted which included a 1.5 m interval of 14.7 g/t AuEQ. The hole skimmed the upper boundary of the CS600, however, deviation did not allow the hole to get into the core of the porphyry where higher grades have been measured. The hole was stopped short of the target due to pad conditions. Assays for this hole are fully reported in this press release.
- GS-22-139 targeted the DS5 domain and returned 438.0 m grading 1.07 g/t AuEQ. Within this, two high-grade intervals consisted of 28.4 m grading 1.95 g/t AuEQ and 24.0 m grading 2.05 g/t AuEQ. This hole is located 250 m to the northeast from the 2021 drill holes.
Table 1: Drilling Results for Goldstorm Deposit in Press Release August 11, 2022
|Section||Hole||From (m)||To (m)||Interval (m)||Au (g/t)||Ag (g/t)||Cu (ppm)||AuEQ (g/t)|
|C||GS-21-113-W2(1) (300H + CS600)||255.00||1752.50||1497.50||0.76||3.70||2685||1.12|
|And including (300H)||590.00||659.00||69.00||1.80||3.61||78||1.85|
|And including (CS600)||1019.00||1751.00||732.00||0.91||5.65||5314||1.60|
|n/a||GS-22-140(2)||Hole was lost and abandoned, no significant values, plan to re-drill target|
|n/a||GS-22-141(3)||Hole was lost and abandoned, no significant values, plan to re-drill target|
|C||GS-22-142(3)||Hole was lost and abandoned, no significant values, plan to re-drill target|
- Hole GS-21-113-W2 was drilled to 1575.0 m in 2021 and was extended by 280.1 m to a depth of 1855.1 m in 2022. Composites include the parent hole assays (GS-21-113) to the depth of the wedge (292.5 m).
- Hole GS-22-140 stopped short of intended target depth and was not sampled.
- Hole GS-22-141 and GS-22-142 stopped short of intended target depth and reported no significant values.
- Hole GS-22-143 was reported to 985.5 m in the July 26, 2022 press release. Results are fully reported in the current press release.
- All assay values are uncut and intervals reflect drilled intercept lengths.
- HQ and NQ2 diameter core samples were sawn in half and typically sampled at standard 1.5m intervals
- The following metal prices were used to calculate the Au Eq metal content: Gold $1625/oz, Ag: $19/oz, Cu: $2.8/lb. Calculations used the formula Au Eq g/t = (Au g/t) + (Ag g/t x 0.01169) + (Cu% x 1.1815). All metals are reported in USD and calculations do not consider metal recoveries.
- True widths have not been determined as the mineralized body remains open in all directions. Further drilling is required to determine the mineralized body orientation and true widths.
Table 2: Drill data for holes in Press Release August 11, 2022
|Section||Hole ID||UTM E NAD 83||UTM N NAD 83||Elevation (m)||Azi (ᵒ)||Dip (ᵒ)||Depth (m)|
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.
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 Tudor Gold
TUDOR GOLD Corp. is a precious and base metals exploration and development company with properties 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 Newcrest Mining Limited's Brucejack property to the southeast. In April 2021 Tudor published their 43-101 technical report, "Technical Report and Initial Mineral Resource Estimate of the Treaty Creek Gold Property, Skeena Mining Division, British Columbia Canada" dated March 1, 2021, on the Company's Sedar profile. The Company also has a 100% interest in the Crown project and a 100% interest in the Eskay North project, all located in the Golden Triangle area.
ON BEHALF OF THE BOARD OF DIRECTORS OF
TUDOR GOLD CORP.
President and Chief Executive Officer
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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.
Goldstorm Deposit - Section Areas - Plan View
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Goldstorm Deposit - Section C
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Goldstorm Deposit - Section D
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