Tudor Gold Drills New Best Intercept for Treaty Creek Property Averaging 0.845 gpt AuEq over 973 Meters from Hole GS-20-57, Including 1.40 gpt AuEq over 217.5 Meters
Tudor Gold Drills New Best Intercept for
Treaty Creek Property Averaging 0.845 gpt
AuEq over 973 Meters from Hole GS-20-57,
Including 1.40 gpt AuEq over 217.5 Meters
Vancouver, British Columbia--(Newsfile Corp. - July 9, 2020) -
Tudor Gold Corp. (TSXV: TUD)
(FSE: TUC) (the "Company" or "Tudor Gold") is pleased to announce that it has completed the first set
of diamond drill holes at their flagship property, Treaty Creek located in the heart of the Golden Triangle
of Northwestern British Columbia. Diamond drilling is progressing very well on the Goldstorm Zone which
is on-trend from Seabridges' KSM Project located five kilometers southwest of our Goldstorm system.
Two additional drills have been mobilized to the project to bring the total to four diamond drill rigs.
Tudor
Gold intends to extend the diamond drill hole program up to possibly 35,000 meters from the original
plan of 20,000 meters and is fully funded to do so. The initial drilling this season has yet to delineate the
limits of the Goldstorm system as it remains open in all directions and to depth.
Tudor Gold's Vice President of Project Development, Ken Konkin, P.Geo., states:
"The priority
was to expand the Goldstorm System to the southeast and to the northeast, however drilling began in the
central and southwest areas where grades were weaker within the overall system.
The objective was to
either expand the known area of mineralization or to define its limits. We were pleasantly surprised to
see the strength of mineralization encountered in drill hole
GS-20-57
which has an enriched interval that
averages
1.40 gpt AuEq over 217.5 meters
(544.5 to 762.0 meters).
The entire intercept has a
composite average of
0.845 gpt AuEq over 973.05m
(34.50 to 1077.55 meters). We were confident
that we could surpass our former best intercept of
GS-19-47 with 0.697 gpt AuEq over 1081.5
meters,
but we never thought we'd find such a wide extent of mineralization in the central-southwest
portion of the system.
As well, we attempted to expand the limits in the southeast part of the system
where we had some elevated spikes in gold grades from our 2019 drilling. Two of our first five drill holes
cut
Visible Gold
in holes
GS-20-55
and
GS-20-58
on Section 110+00 NE. The highest gold value was
from
GS-20-55 with 37.7 gpt Au and 44.8 gpt Ag over 1.0 meter
(428.5 to 429.5 meters). The native
gold occurrences both came from the CS-600 Zone which has an enriched portion that averages
1.34
gpt AuEq over 69.0 meters
from 360.5 to 429.5 meters. The northeastern extension to Goldstorm is
the main event of this program and we will begin drilling this area in mid-July."
Ken Konkin, P.Geo adds: "The current known length of the northeast axis of the Goldstorm System is
over 850 meters long and the southeast axis is at least 600m across, and it remains open in all
directions and to depth. Apart from GS-20-57, the strongest mineralization encountered to date is from
the two consecutive 150m step-out holes drilled to the northeast in 2019:
GS-19-42 yielded
0.849 g/t
Au Eq over 780 m within the 300 Horizon including 1.275 g/t Au Eq over 370.5m, and GS-19-47
yielded 0.697 g/t Au Eq over 1,081.5m within the 300 Horizon including 0.867 g/t Au Eq over
301.5m.
The exploration program will now be focused on expanding mineralization from these two
exceptional step-out holes with three drills. We plan to continue stepping forward along the NE axis with
yet another 150 meter step out hole, as well as fill-in drilling from the sites of GS-19-42 and GS-20-47.
The geological model is evolving; it is apparent that there have been several pulses or phases of
stronger gold, copper and silver mineralization that give the Goldstorm System its nebulous shape of
interconnected disseminated and veinlet stockworks. It is clear that we also need to expand drilling to the
southwest given the results obtained from GS-20-57. The plan includes drilling beneath the GS-20-57
intercept with hopes of expanding the excellent results obtained within this portion of the Goldstorm
System."
The two tables below provide the complete list of drill hole results as well as the drill hole data including
hole location, elevation, depth, dip and azimuth. The four sections included at the bottom of the news
release and on the Company's website show the new drill holes plotted on their respective sections.
Table l
Gold equivalent composite values from the first nine holes of the 2020 drilling program in the
Goldstorm Zone.
Section
Horizon
Hole_ID
From
To
Interval
(m)
Au
g/t
Ag
g/t
Cu
ppm
Au Eq
g/t
110+00
NE
300
GS-20-
54
73.95
195.5
121.55
0.633
3.39
218
0.706
110+00
NE
300
+CS600
GS-20-
55
290.0
446.0
156.0
0.674
2.95
956
0.852
110+00
NE
CS600
GS-20-
55
360.5
429.5
69.0
1.172
1.69
985
1.338
110+00
NE
300
GS-20-
57
34.5
1007.55
973.05
0.775
3.00
226
0.845
110+00
NE
300
GS-20-
57 incl
544.5
904.5
360.0
1.051
3.10
122
1.107
110+00
NE
300
GS-20-
57 or
incl
544.5
762.0
217.5
1.338
3.32
150
1.400
110+00
NE
300
GS-20-
58
107.0
394.5
287.5
0.351
0.99
119
0.380
110+00
NE
300+CS600
GS-20-
60
24.0
666.0
642.0
0.592
2.15
497
0.691
110+00
NE
300
GS-20-
60
incl
24.0
190.0
166.0
1.144
2.09
105
1.185
110+00
NE
CS600
GS-20-
60 &
incl
588.0
666.0
78.0
0.509
7.45
3010
1.045
111+00
NE
300
GS-19-
56
159.0
172.5
13.5
1.054
5.57
98
1.136
111+00
NE
CS600
GS-19-
59
139.0
398.0
259.0
0.328
6.99
1809
0.680
111+00
NE
CS600
GS-19-
59 incl
142.0
273.0
131.0
0.351
10.99
2777
0.894
112+50
NE
CS600
GS-20-
61
116.0
363.5
247.5
0.398
8.51
2690
0.899
112+50
NE
CS600
GS-20-
61 incl
116.0
321.5
205.5
0.453
8.56
3129
1.020
114+00
NE
CS600
GS-20-
62
143.0
371.0
228.0
0.356
3.53
729
0.507
114+00
NE
CS600
GS-20-
62 incl
143.0
206.0
63.0
0.758
2.76
1135
0.960
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 $1322/oz, Ag:
$15.91/oz, Cu: $2.86/lb. Calculations used the formula Au Eq g/t = (Au g/t) + (Ag g/t x 0.012) +
(Cu% x 1.4835). 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 lI Drill hole data for the first nine holes of the 2020 drilling program in the Goldstorm
Zone.
Zone
Section
Hole ID
Northing
UTM_N83_Z9
Easting
UTM-
N83_Z9
Elevation
(m)
Azimuth
(m)
Inclin.
Depth
(m)
Goldstorm
110+00
NE
GS-20-
54
428592.9
6272766.3
1274.53
120
-90
270
Goldstorm
110+00
NE
GS-20-
55
428664.9
6272728.5
1275.78
300
-90
576.4
Goldstorm
111+00
NE
GS-20-
56
428660.2
6272839.8
1267.97
120
-90
195
Goldstorm
110+00
NE
GS-20-
57
428529.3
6272813.9
1277.84
300
-60
1026
Goldstorm
110+00
NE
GS-20-
58
428757.1
6272676.6
1277.62
120
-90
506
Goldstorm
111+00
NE
GS-20-
59
428789.767
6272773.4
1266.43
120
-90
476
Goldstorm
110+00
NE
GS-20-
60
428530.976
6272812
1277
302
-88
765
Goldstorm
112+50
NE
GS-20-
61
428883.9
6272891.9
1250.99
120
-90
449
Goldstorm
114+00
NE
GS-20-
62
428953.745
6273025.2
1237.03
290
-90
449
Walter Storm, President and CEO
,
stated
: "Given the excellent results obtained from the initial nine
drill holes, we are very excited with the potential that lies ahead when we start drilling the priority
northeastern portion of the Goldstorm target. Our commitment remains strong to publish a resource
estimate at the end of this year. We will do what it takes to accomplish this, we have the necessary funds
and an extremely competent technical team to achieve our goals. We have taken, and continue to take,
precautions to maintain a healthy and COVID-19 free working environment."
Tudor Gold Corp and our associated service companies have taken extreme measures to maintain the
highest professional standards while working within COVID-19 health and safety protocols. Only
essential personnel are permitted to enter the camp and staging areas. Of those who are at the project
site and staging site, we have strict daily monitoring of the workers' temperatures and general health
conditions. We have a certified paramedic at the staging area to examine all in-coming and out-going
Tudor personnel and all service providers.
QA/QC
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.
Qualified Person
The Qualified Person for this news release for the purposes of National Instrument 43-101 is the
Company's Vice President Project Development, 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 Tudor Gold
Tudor Gold is a precious and base metals explorer with properties in British Columbia's Golden
Triangle, 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 Pretium
Resources Inc.'s Brucejack property to the southeast. The Company also has a 100% interest in the
Electrum Project, earn in options and 100% interests in other prospective projects located in the Golden
Triangle area.
"Walter Storm"
Walter Storm
President and Chief Executive Officer
For further information, please visit the Company's website at
www.tudor-gold.com
or contact:
Catalin Kilofliski
Director Corporate Development and Communications
Tel. 604-559-8092
Email:
or
Carsten Ringler
Manager Investor Relations
Phone: +49 1726918274
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.
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