Tudor Gold Continues to Significantly Expand the Goldstorm Deposit to the Northeast as Step-Out Hole GS-23-170 Intersects 1.48 g/t AuEQ over 210 m Within 516 m Grading 1.19 g/t AuEQ, Outside the Goldstorm Deposit Mineral Resource Area
Tudor Gold Continues to Significantly Expand
the Goldstorm Deposit to the Northeast as
Step-Out Hole GS-23-170 Intersects 1.48 g/t
AuEQ over 210 m Within 516 m Grading 1.19
g/t AuEQ, Outside the Goldstorm Deposit
Mineral Resource Area
Vancouver, British Columbia--(Newsfile Corp. - August 15, 2023) - Tudor Gold Corp.
(TSXV: TUD)
(FSE: H56)
(the "
Company
" or "
Tudor Gold
") is pleased to present the second 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.
Since the beginning of this year's Program, the Company has successfully completed over 21,000
meters (m) of drilling, within areas encompassing the Goldstorm Deposit and the Perfectstorm Zone.
The five drill holes reported in this release are located in the northeastern area of the Goldstorm Deposit.
Click to view
plan map and cross sections
.
Ken Konkin, President and CEO
, comments: "We are very pleased to confirm the continued
expansion of the Goldstorm Deposit to the northeast. Results from our northeastern-most step-out drilling
from section 120+50 NE will certainly expand the volume of the deposit with AuEQ values well above the
0.7 gpt AuEQ underground resource estimate cut-off grade used for our deposit. In addition, very large
blocks within the previously estimated drill inferred category have been successfully intersected with very
positive gold, copper and silver grades, which we believe will convert these blocks of mineralization into
the drill Indicated category. Our goal is to increase the size of the resource without diminishing the grade.
This will be a critical component to the Preliminary Economic Assessment (PEA) that we plan to
complete once we have totally defined the Goldstorm Deposit. We have completed five additional drill
holes on the Goldstorm Deposit and three drill holes at the Perfectstorm target, which are currently in the
lab. Results will be announced once they are received and compiled. Crews have begun construction of
drill pads required to pursue the northern aspects of the CS-600, 300H and DS5 domains for the 2024
drill program; these are beyond the scope and the time available to drill within our planned 2023
program. Defining the shape and extent of each domain is necessary prior to determining a mine plan,
which is essential for the PEA level and beyond."
SECTION 117+50NE
GS-23-166-W1:
This hole targeted the northern aspects of the CS-600 and DS5 Domains of the
Goldstorm Deposit. The hole first intersected the northern aspect of the CS-600 Domain in an area
that was classified as Inferred in the April 2023 Mineral Resource Estimate (MRE). The hole then
successfully intersected DS5 Domain mineralization at approximately 115 m outside and to the
northwest of the previous DS5 Domain boundary. Highlights include 153 m grading 1.29 g/t AuEQ
(0.75 g/t Au, 14.02 g/t Ag, 0.33 % Cu) with a 1.8 m intercept of 5.18 g/t AuEQ (1.37 g/t Au, 374.0
g/t Ag, 0.09 % Cu). Several mineralized zones were encountered throughout the DS5 Domain,
including 45.0 m grading 1.09 g/t AuEQ (1.02 g/t Au, 5.14 g/t Ag, 0.02 % Cu).
GS-23-168-W1:
This hole targeted the deep, northwest portion of the CS-600 Domain. The hole
intersected an area classified as Inferred in the previous MRE. Prior to entering the CS-600, a
mineralized section of 75.0 m of 1.34 g/t AuEQ (1.27 g/t Au, 5.89 g/t Ag, 0.01 % Cu) was cut, and
this is interpreted to be the 300H Domain. A long intercept of CS-600 included 296.0 m of 1.11 g/t
AuEQ (0.65 g/t Au, 5.03 g/t Ag, 0.35 % Cu) with an enriched intercept of 102.0 m grading 1.30 g/t
AuEQ (0.64 g/t Au, 7.39 g/t Ag, 0.50 % Cu).
GS-23-166:
This hole was not sampled and shutdown early due to excessive drill hole deviation.
The hole was wedged and drilled as GS-23-166-W1.
SECTION 120+50NE
GS-23-169:
This hole was drilled outside of the resource area, and at a distance of 160 m
northeast of the previous boundary, CS-600 was encountered, with a 190.5 m interval of 0.79 g/t
AuEQ (0.38 g/t Au, 5.58 g/t Ag, 0.30 % Cu) and an enriched section of 66.0 m grading 1.44 g/t
AuEQ (0.79 g/t Au, 8.45 g/t Ag, 0.47 % Cu). At depth, the DS5 Domain was intersected at a step-
out distance of 300 m to the north from the previously defined resource area. An intercept of 133.5
m grading 0.97 g/t AuEQ (0.89 g/t Au, 5.55 g/t Ag, 0.02 % Cu) was reported.
GS-23-170:
This hole was designed to expand the northern extent of the CS-600 Domain. An
intercept of 516.0 m grading 1.19 g/t AuEQ (0.89 g/t Au, 2.86 g/t Ag, 0.23 % Cu) was encountered.
This intercept represents a wider than expected interval of mineralization within the northern aspect
of the CS-600 Domain. An enriched section measured 90.0 m grading 2.07 g/t AuEQ (1.93 g/t Au,
3.55 g/t Ag, 0.09 % Cu).
Table 1: Drilling Results for Goldstorm Deposit in Press Release August 15, 2023
Section
Hole
Zone
From
(m)
To (m)
Interval
(m)
Au (g/t)
Ag (g/t)
Cu (%)
AuEQ
(g/t)
117+50NE
GS-22-166
Hole abandoned, not sampled
117+50NE
GS-23-166-
W1
CS600
430.50
583.50
153.00
0.75
14.02
0.33
1.29
inc.
559.50
561.30
1.80
1.37
374.00
0.09
5.18
DS5
784.50
856.50
72.00
0.58
2.35
0.01
0.61
and
940.50
985.50
45.00
1.02
5.14
0.02
1.09
and
1039.50
1108.50
69.00
0.71
1.78
0
0.74
117+50NE
GS-23-168-
W1
300H
1.50
76.50
75.00
1.27
5.89
0.01
1.34
CS600
912.00
1208.00
296.00
0.65
5.03
0.35
1.11
inc.
933.00
985.50
52.50
0.93
3.30
0.40
1.43
inc.
1098.00
1200.00
102.00
0.64
7.39
0.50
1.30
120+50NE
GS-23-169
CS600
801.00
991.50
190.50
0.38
5.58
0.30
0.79
Inc.
880.50
991.50
111.00
0.62
8.11
0.37
1.13
inc.
903.00
969.00
66.00
0.79
8.45
0.47
1.44
DS5
1162.50
1296.00
133.50
0.89
5.55
0.02
0.97
inc.
1162.50
1221.00
58.50
1.27
11.18
0.03
1.41
120+50NE
GS-23-170
CS600
937.50
1453.50
516.00
0.89
2.86
0.23
1.19
inc.
1005.00
1215.00
210.00
1.23
3.17
0.18
1.48
inc.
1005.00
1095.00
90.00
1.93
3.55
0.09
2.07
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 $1800/oz, Ag: $20/oz, Cu: $3.5/lb. Calculations used the
formula AuEQ = Au g/t + (Ag g/t*0.0098765) + (Cu ppm*0.0001185). All metals are reported in USD and calculations consider recoveries of
90 % for gold, 80 % for copper, and 80 % for silver.
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 15, 2023
Section
Hole ID
UTM E NAD 83
UTM N NAD 83
Elevation (m)
Azi (ᵒ)
Dip (ᵒ)
Depth (m)
120+50NE
GS-23-166
428933
6273444
1398
325
-80
558
GS-23-166-W1
428910
6273472
1146
314
-81.5
1122
GS-23-168-W1
428583
6273554
816
294
-57.5
1281
117+50NE
GS-23-169
429030
6273666
1495
335
-82
1335.8
GS-23-170
429026
6273660
1495
312
-74
1512
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 Limited'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:
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 Section Areas – Plan View
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Goldstorm Deposit - Section 117+50 NE Viewing Northeast
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Goldstorm Deposit - Section 120+50 NE Viewing Northeast
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To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/177143