Tudor Gold Intensifies Exploration Efforts by Initiating Permitting for Construction of Underground Exploration Infrastructure to Expand and Complete Drilling of Supercell One Zone at Treaty Creek, Golden Triangle of British Columbia
Tudor Gold Intensifies Exploration Efforts by
Initiating Permitting for Construction of
Underground Exploration Infrastructure to
Expand and Complete Drilling of Supercell
One Zone at Treaty Creek, Golden Triangle of
British Columbia
Vancouver, British Columbia--(Newsfile Corp. - January 13, 2025) - Tudor Gold Corp.
(TSXV: TUD)
(FSE: H56)
(the "
Company
" or "
Tudor
") is pleased to announce the Company has initiated the
permitting process
for the construction of approximately 3,000 meters of underground development to
provide an exploration ramp for targeting the Supercell Cell One Zone (
SC-1
) with infill and expansion
drilling, at their flagship Treaty Creek Project, located in the heart of the Golden Triangle of Northwestern
British Columbia.
Ken Konkin P.Geo, President & CEO commented,
"We are excited to move forward with plans to
explore the high-grade underground Supercell One targets at the Treaty Creek Property through the
construction of an underground exploration drift. This initiative is expected to substantially reduce
both the cost and time required to drill and define the Supercell One Zone by utilizing underground
drilling stations compared to conventional surface drilling. In addition to assisting the exploration
goals, once completed, management believes that the underground infrastructure should provide
long-term benefits to the project, potentially serving as a Fresh Air Raise or Return Air Raise to
support future production mining of the high-grade Supercell One Zone and/or the CS600 Zone.
Additionally, the underground development will be important
in the selection of optimum material
required for a 10,000-tonne test for a pilot process which would be required for a Feasibility Study. The
advantages of driving an exploration development ramp are significant and this initiative is expected
to bring substantial value to our Project."
Furthermore, Ken Konkin, stated,
"The 2024 drilling results from the SC-1 Zone have been highly
encouraging, corroborating the continuity and high-grade nature of gold mineralization in an area
which is structurally and geologically analogous to Newmont Corporation's Brucejack gold deposit
that was discovered in 2010. Once the underground exploration drift is completed, a year-round
drilling program of approximately 25,000 meters is expected to focus on the Supercell One Zone and
peripheral areas to further define the extent and geometry of the high-grade gold mineralization, which
remains open along strike and up and down plunge. The objective is to accelerate the drilling
program with the goal of fully unlocking this potential multi-million-ounce high-grade gold system. The
Supercell System discovery was confirmed by several of the holes from last year's drilling program,
however none of the results are included within the February 2024 Mineral Reserve Estimate of 27.9
million ounces of AuEq averaging 1.19 g/t AuEq (see press release dated,
February 20, 2024
). We
believe that the high-grade Supercell System is a major pivotal point in the evolution of the Goldstorm
Deposit.
To date, over 10,000 meters of drilling have targeted the Supercell One Zone, which appears to be on
its way to becoming a major asset within the Goldstorm Deposit. The exploration drill campaign
planned for the Supercell One Zone and the remainder of the Goldstorm Deposit is expected to
further enhance this potential. The development of the underground exploration marks an important
stage for Tudor Gold and its Treaty Creek Project, and we look forward to the opportunities this
advancement will bring.
Management believes that the proposed permitting of an underground exploration drift designed by
Tudor Gold's engineering consultant Fuse Advisors, should greatly enhance what is already a large
gold-copper-silver deposit. Management is optimistic that this initiative is likely to assist in attracting a
strategic partnership with an experienced mining company that has the technical expertise and
financial capacities to assist Tudor Gold in advancing the Treaty Creek Project."
Figure 1.
Plan Map of Proposed Underground Development Targeting SC-1 High-Grade Gold Zone
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4494/236919_5ad45503e4eb2ac6_002full.jpg
Figure 2.
Long Section - Supercell One High-Grade Gold Drill Target
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4494/236919_5ad45503e4eb2ac6_003full.jpg
About the Supercell-One Zone
The SC-1 discovery, confirmed during the 2024 exploration program, represents a significant potential
economic target that is within, and peripheral to, the CS-600 Domain (see press releases dated
February 1
st
,
August 13
th
, and
September 10
th
, 2024). The gold-rich SC-1 system consists of four
stacked, sub parallel structures within an area measuring up to 800 m in length by 400 m in depth. All
four stacked, sub-parallel structures remain open in all directions and to depth.
The results that confirmed
the discovery of the SC-1 Zone which followed up the initial pre-2024 drilling that originally encountered a
single 5 to 10-meter-wide interval of quartz-pyrite-gold micro-breccia structures superimposed or
overprinted on the gold-copper-rich CS-600 Domain. Visual inspection of the drill core indicated
consistent gold mineralization within the series of late-stage, gold-dominant, quartz-pyrite micro-breccia
structures. In addition to expanding the size of the known high-grade mineral horizons, management
believes that significant potential exists to discover more supercells within known domains and
subparallel to the four newly discovered micro-breccia systems.
Table 1.
Drill highlights from the nine holes targeting the SC-1 area:
Zone
Hole
From
To
Interval
Au
Ag
Cu
AuEQ
(m)
(m)
(m)
(g/t)
(g/t)
(%)
(g/t)
SC-1A
GS-24-181
810.00
812.00
2.00
8.97
3.73
0.01
9.02
GS-24-183-W1
283.50
289.50
6.00
6.44
26.62
0.04
6.76
GS-24-186
787.50
789.00
1.50
9.78
22.46
0.02
10.40
SC-1B
GS-24-181
886.50
889.50
3.00
8.28
126.50
1.21
11.05
GS-24-183-W1
423.60
429.90
6.30
4.26
224.59
5.96
13.89
GS-22-134
1215.00
1219.50
4.50
4.26
3.03
0.07
4.37
GS-23-176-W1
181.50
204.00
22.50
2.76
15.39
0.18
3.13
GS-23-170
1017.00
1036.50
19.50
4.12
6.83
0.08
4.29
SC-1C
GS-22-134
1474.50
1500.00
25.50
9.66
1.23
0.24
9.96
GS-23-176-W1
451.50
466.50
15.00
14.89
4.72
0.60
15.64
GS-23-179
1129.50
1141.50
12.00
9.78
1.35
0.23
10.07
GS-24-187
919.50
922.50
3.00
10.89
0.97
0.02
10.92
GS-24-181
1095.00
1101.00
6.00
5.02
3.32
0.21
5.31
GS-24-183-W1
609.00
618.00
9.00
5.08
1.24
0.02
5.12
GS-22-151-W1
1024.50
1032.00
7.50
3.96
3.85
0.08
4.10
SC-1D
GS-24-185
880.50
894.00
13.50
9.58
0.44
0.01
9.60
GS-24-184
953.85
960.00
6.15
5.44
63.77
1.62
8.09
GS-24-187
975.00
978.00
3.00
5.65
0.95
0.03
5.70
-
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 1.5 m intervals.
-
The following metal prices were used to calculate the Au Eq metal content: Gold $1850/oz, Ag: $21/oz, Cu: $3.75/lb.
Calculations used
the formula AuEQ = Au g/t + (Ag g/t*0.0100901) + (Cu ppm*0.0001236). 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.
Figure 3.
Drill Results from the SC-1 Zone within the Goldstorm Deposit.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4494/236919_5ad45503e4eb2ac6_004full.jpg
.
The Supercell-One system remains open to the northwest, north, and east. The Company plans to further
explore this higher-grade system and review other gold-dominant sub-domains as part of the Company's
strategy to expand the high-grade gold potential of the Goldstorm Deposit.
Such areas as R-66 and
300N show similar structural characteristics and are composed of similar gold-rich quartz-pyrite micro-
breccia veinlets.
Tudor Gold is aiming for a scenario whereby the SC-1 Zone provides a potential path towards
developing a large, multi-generational project that begins with a high-grade underground starter
operation and expands into a substantial block-cave underground copper-gold-silver production.
The Company also provides a quarterly update with respect to the Company's previously announced "at-
the-market" equity program (the "ATM Program") launched on February 13, 2024. The ATM Program
allows the Company to issue and sell, from time to time, up to $20,000,000 of its common shares from
treasury to the public, at the Company's discretion, pursuant to an equity distribution agreement between
the Company and Research Capital Corporation (the "Agent").
During the quarterly period ended December 31, 2024, the Company issued a total of 758,300 common
shares on the TSX Venture Exchange at an average price of C$0.7350 per share under the ATM
Program, providing gross proceeds of C$557,350.50. Commissions of C$13,934.07 were paid to the
Agent in relation to these distributions.
For further details on the ATM Program, see the Company's news release dated February 14, 2024.
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 5, 2024 prepared by Garth Kirkham Geosystems and JDS Energy
& Mining Inc., the Goldstorm Deposit has an Indicated Mineral Resource of
27.87 million ounces (Moz)
of AuEQ grading 1.19 g/t AuEQ (21.66 Moz gold grading 0.92 g/t, 2.87 billion pounds (Blbs)
copper grading 0.18%,
128.73 Moz silver grading 5.48 g/t) and an Inferred Mineral Resource of
6.03 Moz of AuEQ grading 1.25 g/t AuEQ (4.88 Moz gold grading 1.01 g/t, 503.2 Mlb copper
grading 0.15%, 28.97 Moz silver grading 6.02 g/t), with a pit constrained cut-off of 0.7 g/t AuEQ
and an underground cut-off of 0.75 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 nested pulses of diorite intrusive stocks and hosts the majority of the copper mineralization
within the Goldstorm Deposit. CS-600 has an Indicated Mineral Resource of 15.65 Moz AuEQ grading
1.22 g/t AuEQ (9.99 Moz gold grading 0.78 g/t, 2.73 Blbs copper grading 0.31%, 73.47 Moz silver
grading 5.71 g/t) and an Inferred Mineral Resource of 2.86 Moz AuEQ grading 1.20 g/t AuEQ (1.87 Moz
gold grading 0.79 g/t, 475.6 Mlb copper grading 0.29%, 13.4 Moz silver grading 5.63 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
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 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
Vice President of Investor Relations and Corporate Development
Phone: (604) 559 8092
E-Mail:
Or
Patrick Donnelly
Vice President of Capital Markets
Phone: (604) 559 8092
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;
the Company's intention to construct an exploration ramp to target the Supercell Cell One Zone for
infill and expansion drilling at their flagship Treaty Creek Project; that this initiative will substantially
reduce both the cost and time required to drill and define the Supercell One Zone from underground
drilling stations compared to conventional surface drilling; that once completed the underground
infrastructure will provide long-term benefits to the project; the underground development will be
important in the selection of optimum material required for a 10,000-tonne test for a pilot process; that
the advantages of driving an exploration development ramp are significant and will bring significant
value to the Project; once the underground exploration drift is completed, year-round drilling program
of approximately 25,000 meters will focus on the Supercell One Zone and peripheral areas; following
ramp construction, Tudor Gold will accelerate its drilling program with the goal of fully unlocking this
potential multimillion ounce high-grade gold system; that the Supercell One Zone is on its way to
becoming a significant asset within the Goldstorm Deposit; that the exploration drill campaign
planned for the Supercell One Zone and the remainder of the Goldstorm Deposit will further enhance
this potential; that this initiative will assist in attracting a strategic partnership; and that the Company
plans to further explore the Supercell-One system and review other gold-dominant sub-domains.
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. The Company's financial condition and development plans do not change as a result of
unforeseen events, that future gold prices and the demand and market outlook for gold will remain
stable or improve, that the exploration ramp will result in the benefits anticipated; that underground
development is important in the selection of optimum material required for a pilot process; that the
advantages of driving an exploration development ramp will prove to be significant and will bring
significant value to the Project; assumptions regarding the Company's exploration plans; the viability
of the Supercell One Zone and the impact of the exploration drill program on the same; and that the
Company's initiatives will attract strategic partnership. Material assumptions relating to the indicated
mineral resource and inferred mineral resource are contained in the Company's Technical Report
filed on SEDAR+ at
www.sedarplus.ca
.
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 the
risk that the exploration ramp will not result in the benefits anticipated, increased competition, that
management's expectations regarding the viability of the Supercell One Zone will prove to be
inaccurate, that the Company will not have the resources required to carry out its exploration plans or
complete construction of the exploration ramp, 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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