Dear shareholders, stakeholders, and friends,
I am pleased to provide you with an update on Tudor Gold and our activities at the Treaty Creek Project, situated in the Golden Triangle of British Columbia, a top-tier mining jurisdiction.
In recent months, despite the strong performance in the gold price, Tudor Gold's share price has seen significant weakness. I know that this is a major concern for many of you, and I want to assure you that everyone associated with Tudor Gold takes the current situation personally and we are all committed to taking all possible measures to address it by diligently executing on our strategic corporate and marketing plans.
We remain extremely confident in our company's future, the Treaty Creek Project and the potential of the gold and copper markets. The inherent value of Treaty Creek remains very strong, and we anticipate that the market will soon recognize the true value as the Goldstorm deposit, one of the world's largest gold-copper projects, boasting an indicated resource of 27.87 million gold equivalent ounces, including 2.9 billion pounds of copper.
As many of you already know our summer drilling campaign is well underway, with 5,500 meters already completed. I want to commend our geological team for executing a safe and environmentally conscious exploration program, resulting in zero lost time injuries for our employees and contractors. Our commitment to employee safety and environmental protection remains unwavering. I also want to express our gratitude to our First Nation partners for their invaluable support and guidance.
The focus of this program is to target high-grade gold mineralization at the Super Cell One zone, where previous drilling has shown promising results. Initial assay results from the first two drill holes are expected within the summer months. In total, we plan to drill seven holes in the Super Cell One area, aiming to further define and expand the gold-copper mineralization at the CS600 domain.
Additionally, we have been conducting technical work on the CS600 domain, which hosts significant gold and copper resources. Preliminary metallurgical testing suggests that the CS600 zone is amenable to conventional copper flotation, with the potential to recover a substantial amount of gold. Metallurgical work is also ongoing at the 300H and DS5 domains, which contain a combined 11 million ounces of gold. We are exploring various recovery options for these domains while considering their impact on future economic studies.
Furthermore, we are evaluating different underground and open pit mining methods for the Treaty Creek Project, with the assistance of external experts. All current work, including environmental studies, will inform a preliminary economic assessment expected to be finalized by mid-2025.
In recent months, we have been actively spreading the news about Tudor Gold and the Treaty Creek Project by traveling to meet with investors in cities like Hamilton and Toronto, as well as attending the Mining Event of the North in Quebec City. This conference was a great success in raising awareness about our company, especially among attendees from Eastern Canada who were unfamiliar with the Golden Triangle in British Columbia. We were able to educate them about our significant deposit, which boasts over 21 million ounces of gold and more than 2.9 billion pounds of copper in the indicated categories. I am confident that many of the individuals we met will continue to follow our progress and hopefully become shareholders. You can watch my Fireside Chat at the Quebec City conference and an interview with Kitco News by clicking on the following links:
In early July, we will be visiting investors in South Florida and Atlanta, followed by our attendance at the Precious Metals Summit Beaver Creek and Denver Gold Forum in September. Additionally, we have plans to market in Europe and London towards the end of the year. If you would like to schedule a meeting with us, please do not hesitate to reach out to Chris Curran, our VP of Investor Relations and Corporate Development at chris.curran@tudor-gold.com or Patrick Donnelly, our VP Capital Markets at patrick@tudor-gold.com.
Thank you for your continued support and trust in our team.
Sincerely,
Ken Konkin
President and CEO, Tudor Gold