Vancouver, British Columbia--(Newsfile Corp. - April 22, 2020) - Tudor Gold Corp. (TSXV: TUD) (FSE: TUC) (the "Company" or "Tudor Gold") is pleased to announce initiation of metallurgical studies for the Company's flagship project, Treaty Creek, located in the Golden Triangle of north-west British Columbia. This study will focus on the mineral characteristics and the prospects of developing Treaty Creek as a bulk tonnage mining target using conventional processing techniques. The test work will be conducted on material selected from the extensive continuously mineralized drill core intervals encountered in the 2019 exploration program. The metallurgical test results will be used as part of the initial economic assessment for the project.
The metallurgical study will be managed under the direction of Frank Wright, P.Eng., of F. Wright Consulting Inc, of Delta BC. The related laboratory test program will be conducted at Bureau Veritas Minerals - Metallurgical Division of Richmond, BC (BV). BV is a globally recognized and certified testing facility with customers ranging from small independent operators to large multi-national mining firms and consultants. Mr. Wright has over 30 years of experience consisting of both operations and consulting in the fields of mineral processing and hydrometallurgy. His career has included the last 20 years as a qualified independent professional engineer managing process advancement for projects worldwide, although primarily focused in BC. His work includes oversight of test programs leading to the selected process flowsheet and design criteria, related technical reporting, supervision of detailed engineering, and assisting in project commissioning.
The Company is also pleased to announce an agreement with RTEC (a joint venture partnership between ERM Consultants Canada Ltd. (ERM) and the Tahltan Nation Development Corporation (TNDC)), to begin preliminary baseline studies that will be required for provincial permitting of the Treaty Creek project. These baseline studies will focus on surface water quality, hydrology, atmospherics, wildlife and archaeology.
Tudor Gold's Vice President of Project Development, Ken Konkin, P.Geo., states: "The metallurgical test work and baseline studies will provide crucial data to further our project development plans. These studies will serve as templates for on-going studies aimed to carry the project forward to more advanced stages. Both studies will begin in conjunction with the 2020 diamond drill hole exploration program that is planned to start this spring. In addition, our geologists will select representative composite samples from last year's drill holes as the basis for our preliminary metallurgical studies."
The safety and wellbeing of Tudor Gold employees, contractors, and communities we work in is of upmost importance. The Companyhas developed new operational guidelines to reduce the chance of spread of the COVID-19 virus while conducting our work, which has been deemed as essential service by the Provincial Government.
Tudor Gold's Covid-19 policy and guidelines are available on Company's website at:
https://tudor-gold.com/wp-content/uploads/2020/04/Tudor-Gold---COVID-19-Policy-Response-Plan-April-2020.pdf
Walter Storm, President and CEO of Tudor Gold stated:"2020 is poised to be a transformative year for our company. The agreement with RTEC to begin preliminary baseline studies, necessary for potential future mine permitting, together with the initiation of the metallurgical studies, demonstrates our commitment to further advance the Treaty Creek project. These studies as well as the upcoming drill program are fully funded. We are particularly pleased that we were able to further strengthen our partnership with the Tahltan First Nations through the RTEC agreement."
About the RTEC Joint-Venture partnership
RTEC is a joint venture partnership between ERM Consultants Canada Ltd. (ERM) and the Tahltan Nation Development Corporation (TNDC). With more than 5,500 people, ERM is a leading global provider of environmental, health, safety, risk, social consulting services and sustainability related services. The Tahltan Nation Development Corporation (TNDC) is the business arm of the Tahltan Nation. TNDC pursues sustainable and responsible business and economic development opportunities in the region that lead to employment, training and business opportunities for Tahltan members.
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: catalin@tudor-gold.com
Carsten Ringler
Manager Investor Relations
Phone: +49 1726918274
E-Mail: carsten.ringler@tudor-gold.com
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.
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