VANCOUVER, BC, January 16, 2023 - Tudor Gold Corp. (TSXV: TUD) (Frankfurt: H56) (the "Company" or "Tudor Gold") is pleased to present the seventh and final 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.
The Company has safely and successfully completed the 2023 drilling program with a total of 31,904 meters (m) drilled within areas encompassing the Goldstorm Deposit (the Deposit) and the Perfectstorm Zone. The assay results reported in this release are from two drill holes that targeted the northeastern area of the Deposit. Click to view plan map and cross sections.
Ken Konkin, President and CEO, comments: “We are very pleased to release the results from the last two drill holes of the 2024 drill program. We completed 33 holes this year of which eight were completed at the Perfectstorm system and 25 drill holes at the Goldstorm Deposit. The objective of the Goldstorm drilling was to convert as much of the Inferred Mineral Resources to the Indicated Mineral Resource category as well as expand the Deposit into the north where we have encountered the strongest Au-Cu-Ag mineralization to-date. I congratulate our field crews and service contractors for completing yet another safe and successful season. Clearly the highlight of these last two holes is the impressive continuation of encountering higher Au-Cu-Ag grades than contained within our latest NI 43-101 Mineral Resource Estimate for the Goldstorm Deposit which hosts an Indicated Mineral Resource of 23.37 million ounces of AuEQ grading 1.13 g/t AuEQ and an Inferred Mineral Resource of 7.35 million ounces of AuEQ grading 0.98 g/t AuEQ.
An enriched core of mineralization occurs within the 300H and CS-600 domains. Drill hole GS-23-178-W1 demonstrates this well; the gold-dominant 300H domain cut an impressive intercept of 138 m grading 1.67 g/t AuEQ which contains a center core of mineralization that averages much higher; 3.08 g/t AuEQ over 57 m. Down hole within the CS-600 domain, we intersected a much more impressive 258 m averaging 2.00 g/t AuEQ with an enriched center portion averaging 3.19 g/t AuEQ over 66 m. It’s important to note that we are still encountering incredibly long drill hole intercepts such as 570 m that averaged 1.21 g/t AuEQ within the CS-600 domain in hole GS-23-178-W1. However, we are focussed on developing areas with the highest gold and copper grades of the Deposit and expanding the Au-Cu CS-600 domain as a priority. We are confident that the copper content will be an important factor as we advance this project. Within the DS5 domain, our last hole GS-23-180 was unfortunately lost due to ground conditions and was abandoned in strong mineralization at depth. The final 4.75 m averaged 2.31 g/t AuEQ. A significant intercept was encountered higher in the upper part of the domain averaging 1.01 g/t AuEQ over 201 m and similarly had an enriched central portion that averaged much higher: 1.82 g/t AuEQ over 81.5 m. Hole GS-23-178-W1 increases the drilling density in a significant area of the CS-600 domain that is characterized as Inferred Mineral Resources and will support potentially converting that to Indicated Mineral Resources whereas GS-23-180 was a step-out exploration drill hole, outside the current resource model to the northeast and will add overall ounces to the next mineral resource estimate.
Our technical team and consultants are currently updating the geological and resource model. Once our final interpretation is complete, we will plan the 2024 drill hole program. The goal is to close-off and completely constrain the entire Goldstorm Deposit so we can determine the location, shape, size and grade of all mineralized domains. When the Deposit is completely drilled-off and we have competed the final resource estimate, we plan to proceed with a Preliminary Economic Study (PEA). The Goldstorm Deposit remains open in all directions and at depth.”
Section A
- GS-23-178-W1: Was drilled to target the CS-600 domain where the current Mineral Resource Estimate is categorized as Inferred mineral resources. The hole first intersected the 300H domain with 138.0 m grading 1.67 g/t AuEQ (1.60 g/t Au, 5.81 g/t Ag, 0.01 % Cu) and then successfully intersected the CS-600 domain with an overall interval of 570.0 m grading 1.21 g/t AuEQ (0.75 g/t Au, 8.09 g/t Ag, 0.31 % Cu) including 258.0 m grading 2.00 g/t AuEQ (1.30 g/t Au, 14.28 g/t Ag, 0.47 % Cu) and 66.0 m grading 3.19 g/t AuEQ (1.99 g/t Au, 24.46 g/t Ag, 0.80 % Cu).
Section B
- GS-23-180: This hole was drilled as a 175 m northern step-out on the DS5 domain. The hole successfully intercepted characteristic Au-Ag mineralization with a 201.0 m intercept of DS5 grading 1.01 g/t AuEQ (0.92 g/t Au, 4.93 g/t Ag, 0.04 % Cu) including an 81.5 m intercept grading 1.82 g/t AuEQ (1.64 g/t Au, 9.36 g/t Ag, 0.07 % Cu). This hole was lost within well mineralized fractured ground over the final 4.75 m that averaged 2.31 g/t AuEQ (2.17 g/t Au, 11.85 g/t Ag, 0.02 % Cu).
Table 1: Drilling Results for Goldstorm Deposit in Press Release January 16, 2023
| Section | Hole | Zone | From
(m) | To
(m) | Interval
(m) | Au
(g/t) | Ag
(g/t) | Cu
(%) | AuEQ
(g/t) |
| A | GS-23-178-W1 | 300H | 328.50 | 466.50 | 138.00 | 1.60 | 5.81 | 0.01 | 1.67 |
| including | 385.50 | 442.50 | 57.00 | 2.98 | 8.72 | 0.01 | 3.08 |
| including | 409.50 | 421.50 | 12.00 | 5.90 | 12.32 | 0.01 | 6.04 |
| including | 409.50 | 412.50 | 3.00 | 11.66 | 2.15 | 0 | 11.68 |
| CS-600 | 1002.00 | 1572.00 | 570.00 | 0.75 | 8.09 | 0.31 | 1.21 |
| including | 1263.00 | 1521.00 | 258.00 | 1.30 | 14.28 | 0.47 | 2.00 |
| including | 1294.50 | 1360.50 | 66.00 | 1.99 | 24.46 | 0.80 | 3.19 |
| including | 1294.50 | 1318.50 | 24.00 | 3.01 | 44.37 | 1.07 | 4.71 |
| B | GS-23-180 | DS5 | 836.00 | 1037.00 | 201.00 | 0.92 | 4.93 | 0.04 | 1.01 |
| including | 870.50 | 952.00 | 81.50 | 1.64 | 9.36 | 0.07 | 1.82 |
| including | 870.50 | 893.00 | 22.50 | 3.30 | 28.63 | 0.22 | 3.84 |
| DS5 | 1080.50 | 1181.00 | 100.50 | 0.68 | 2.03 | 0.01 | 0.71 |
| DS5 | 1410.45 | 1464.75 | 54.30 | 0.56 | 6.54 | 0.02 | 0.65 |
| including | 1460.00 | 1464.75 | 4.75 | 2.17 | 11.85 | 0.02 | 2.31 |
- 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 $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 January 16, 2023
| Section | Hole ID | UTM E NAD 83 | UTM N NAD 83 | Elevation (m) | Azi () | Dip () | Depth (m) |
| A | GS-23-178-W1 | 428867 | 6273470 | 1279 | 297 | -61 | 1554 |
| B | GS-23-180 | 429357 | 6273557 | 1225 | 270 | -70 | 1466 |
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