Tudor Gold Commences 2023 Exploration Drilling Program at the Treaty Creek Property Located in Northwestern British Columbia
Tudor Gold Commences 2023 Exploration
Drilling Program at the Treaty Creek Property
Located in Northwestern British Columbia
Vancouver, British Columbia--(Newsfile Corp. - May 8, 2023) - Tudor Gold Corp.
(TSXV: TUD) (FSE:
H56)
(the "
Company
" or "
Tudor Gold
") is pleased to announce the commencement of the 2023
exploration program (the "
Program
") at its flagship property, Treaty Creek, located in the Golden
Triangle of Northwest British Columbia.
The fully funded Program consists of a minimum 25,000 metre (m) diamond drilling campaign that has
been developed to target the north and northeast mineral extensions of the Goldstorm Deposit, where
drilling in 2021 and 2022 intercepted the highest grades of gold, copper, and silver mineralization at
Treaty Creek to date.
These results contributed to a significantly upgraded Mineral Resource Estimate
recently announced by the Company in a news release dated March 15, 2023 (the "
March News
Release
"), which reported an Indicated Mineral Resource of
23.37 million ounces (Moz) of gold
equivalent (AuEQ) grading 1.13 g/t AuEQ
and an Inferred Mineral Resource of
7.35 Moz of AuEQ
grading 0.98 g/t AuEQ
.
In addition to the northern step-out drilling at the Goldstorm Deposit, the Company plans to carry out
exploration drilling at the Perfectstorm Zone ("PSZ") to follow up on six drill holes that were drilled in
2020 and 2021 which all intercepted gold and silver mineralization, highlighted by hole PS-21-06, which
returned 118 m of 0.66 g/t gold, 3.69 g/t silver including 31.5 m of 0.84 g/t gold, 6.09 g/t silver.
PSZ is a
gold-dominant mineralized system measuring 1.3 kilometers (km) in strike length and is located
approximately 2.5 km southwest of the Goldstorm Deposit and approximately 2.5 km northeast of
Seabridge Gold's Iron Cap Deposit near the southwestern boundary of the Treaty Claim block.
Ken Konkin, President and CEO
, comments: "Congratulations to our field crews for yet again another
safe and successful start-up utilizing our winter road route. We thank our good neighbours to the south at
Brucejack Lake, Newcrest Mining for all their assistance during the process. We plan to pick-up the
drilling where we left off at the end of 2022. We will concentrate on pushing out the resource in the areas
of highest grades throughout the 300H, CS-600 and DS-5 domains with four drill rigs. Two are currently
drilling the northern aspects of these domains with another two rigs expected to arrive on site by mid
May. In addition, we plan to attack the Perfectstorm System. Based on favorable drill results from 2020
and 2021 as well as the reconnaissance surface Geochem from 2023, we plan on putting two drill rigs
on this target by late June. With four deep-drill rigs at the Goldstorm Deposit, we hope to continue to add
high-quality gold ounces to our current resource model, as well as discover favorable Au-Cu-Ag
mineralization at the Perfectstorm system. All core will be transported to our Bitter Creek core shack
near Stewart, BC for logging and sampling. This facility enables us to give core tours throughout the
entire year, including winter months."
Qualified Person
The Qualified Person for this news release for the purposes of National Instrument 43-101 - Standards of
Disclosure for Mineral Projects ("NI 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.
About Treaty Creek
The Treaty Creek Project hosts the Goldstorm Deposit, a large gold-copper porphyry system, as well as
several other mineralized zones. As disclosed in the
March News Release
, the Goldstorm Deposit has
an Indicated Mineral Resource (as defined in NI 43-101) 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 (as defined in NI 43-101)
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.
About Tudor Gold Corp.
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 Newcrest Mining'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:
or
Carsten Ringler
Head of Investor Relations and Communications
Phone:
+49 151 55362000
E-Mail:
Cautionary Note Regarding Forward-looking Information
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.
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 connotation 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/165167