Tudor Gold Initiates Diamond Drilling at their Flagship Treaty Creek Au-Cu-Ag Project
Tudor Gold Initiates Diamond Drilling at their Flagship
Treaty Creek Au-Cu-Ag Project
Vancouver, British Columbia--(Newsfile Corp. - May 11, 2020) - Tudor Gold Corp. (TSXV: TUD) (FSE: TUC) (the "
Company
" or
"
Tudor Gold
") is pleased to announce that it has begun this season's diamond drill hole program at its flagship property, Treaty
Creek, located in the heart of the Golden Triangle of Northwestern British Columbia. Diamond drilling has begun with two drill
rigs on the Goldstorm Zone which is on-trend from Seabridges' KMS Project located just five kilometers to the southwest. These
first two drills have begun drilling the initial holes of the 20,000 meter, exploration program.
Tudor Gold's Vice President of Project Development, Ken Konkin, P.Geo., states:
"We are very proud of the hard work
and dedication that our crews exhibited during the weeks prior to the start of drilling. Due to their diligence in preparing the camp
we have been able to start our drill program a month earlier than last year's program. The priority is to continue to expand the
Goldstorm System to the southeast and to the northeast."
"The current known length of the northeast axis of the Goldstorm System is over 850 meters, and the southeast axis is at least
600m ; the system remains open in both dimensions, as well as to depth. The strongest mineralization encountered to date is
from two consecutive 150m step-out holes at the northeast end of the drill grid:
GS-19-42 yielded
0.849 g/t Au Eq over 780 m
with the 300 Horizon averaging 1.275 g/t Au Eq over 370.5m and GS-19-47 yielded 0.697 g/t Au Eq over 1,081.5m with
the 300 Horizon averaging 0.867 g/t Au Eq over 301.5m.
Our program will be focused on expanding the mineralized area
from these two very encouraging step-out holes. Furthermore, we plan to continue advancing along the NE axis with yet another
150 meter step out hole. The best results from the southeast dimension came from
GS-19-52 which yielded 0.783 g/t Au Eq
over 601.5m with 1.062 g/t Au Eq over 336.0m within the 300 Horizon.
"
(The above results were from the company's news release dated March 3
rd
, 2020,, in which 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.)
Tudor Gold and its associated service companies have taken extreme measures to maintain the highest professional standards
while working under COVID-19 health and safety protocols. Only essential personnel are permitted to enter the camp and
staging areas. An on-site certified paramedic conducts strict daily monitoring of temperatures and general health conditions of
personnel and service providers who are working at the project site and the staging area.
Walter Storm, President and CEO, stated:
"I am very pleased with the safe start-up of the 2020 exploration program thanks to
the hard work and dedication of our crews. The Company's intent is to
advance the Treaty Creek Project with full recognition and
confidence in the recommended COVID-19 safety protocols. The goal for this year is to complete enough drilling that we can
begin to delineate a first resource estimation at Treaty Creek."
Qualified Person
The Qualified Person for this news release for the purposes of National Instrument 43-101 is the Company's Vice President of
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 60% 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, and plans to derive mineral resource estimates. 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; risks associated with the interpretation of
data regarding the geology, grade and continuity of mineral deposits; the uncertainty of the geology, grade and continuity of
mineral deposits and the risk of unexpected variations in any mineral resources, grade and/or recovery rates; 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/55639