Step-Out Hole GS-20-70 Extends the Goldstorm 300 Horizon and CS-600 Zone Another 150 Meters to the Northeast as Drilling Continues with Six Drills at Treaty Creek
Vancouver, British Columbia--(Newsfile Corp. - October 26, 2020) - Tudor Gold Corp. (TSXV: TUD) (FSE: TUC) (the "Company" or "Tudor Gold") is pleased to present results for the fourth set of diamond drill holes at their flagship property, Treaty Creek, located in the heart of the Golden Triangle of Northwestern British Columbia. Diamond drilling continues with six drill rigs currently working on the Goldstorm Zone which is on-trend from Seabridge's KSM Project, 5 km to the southwest. All nine of the recent drill holes have successfully intersected the Goldstorm System expanding the mineralization to the northeast and southeast, as well as to depth. The Goldstorm System 300 Horizon has now been traced for 1100 meters along the northeast axis and in addition, the CS-600 and DS-5 systems have been expanded to the northeast and to depth as well. All 26 drill holes completed at Goldstorm during the 2020 program have encountered significant precious metal mineralization.
Tudor Gold's Vice President of Project Development, Ken Konkin, P.Geo., states: "The goal is to drill-define the limits of the Goldstorm system mineralization. We are very pleased with the results obtained from the 2020 drill holes that have yet to define limits or boundaries to the mineralized target along the northeastern and the southeastern axes, and to depth as well as we keep encountering mineralization versus non-mineralized host rock. Drill hole results from GS-20-75 demonstrate that several aspects of the mineralized horizon appear to be gaining strength at depth with significant Au-Cu-Ag mineralization encountered in the CS-600 zone which averaged 0.968 gpt AuEq over 414 meters. Our technical team has to date received drill hole results from 26 diamond drill holes at Goldstorm and three holes from the PSZ Zone, totalling 24,343.6 meters. Samples from 12 drill holes are awaiting results from MSA Labs, totalling 12,443.7 meters, with six additional holes currently being drilled that are expected to total more than 6,500 meters. The information released to date represents just over half of the drill information we plan to collect for this year's program at Goldstorm. We have also received good news from MSA Labs that they hope to get back to our scheduled 15-day turn-around-time for results. We are confident that our combined efforts will expediate the news flow for the near-future."
Goldstorm Highlights include:
- Nine diamond drill holes in this release totalled 10,234.2 meters, all hitting the intended targets with favorable results listed in the tables below.
- Best intercept was from GS-20-75 on Section 114+00 NE that averaged 0.741 gpt AuEqover 1152.0 metres (112.0-1264.0 m) containing an enriched portion of 121.5 meters (232.0-353.5 m) that averaged 1.561 gpt AuEq.
- GS-20-75 also had a remarkable 414.0 meter intercept (833.5-1247.5 m) of 0.968 gpt AuEq within the CS-600 Zone, which is the longest intercept for CS-600 drilled to date.
- Tudor Gold has surpassed the previous longest mineralized intercept with GS-20-79 on section 112+00 NE, 150 meters southwest of GS-20-75. This hole intersected 1338 meters (81.5-1419.5m) of 0.595 gpt Au Eq with the upper portion of the 300 Horizon averaging 0.877 gpt AuEq over 484.5 meters (81.5-566.0 m).
- A 150 meter extension of the 300, CS-600 and DS-5 Zones was confirmed by an aggressive step-out to the northeast with hole GS-20-70 on section 115+50 NE. The intercept averaged 0.500 gpt AuEq over 1218.0 meters and mineralization remains open to the northeast, northwest and southeast along Section 115+50 NE.
- The DS-5 System appears to be gaining strength to the northeast; hole GS-20-64, the north-easternmost hole, returned the strongest result for DS-5, averaging 0.983 gpt AuEq over 550.55 meters with an enriched portion averaging 1.482 gpt AuEq over 154.5 meters (Press Release July 27, 2020).
The following three tables below provide the complete list of composited drill hole results as well as the drill hole data including hole location, elevation, depth, dip and azimuth.
Table l: DDH Data October 26, 2020 Press Release
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Table ll : Gold equivalent composite values from nine Goldstorm Zone DDH's.
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- 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 1.5m intervals
- 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.
Table lll: Drill Data for Holes Completed, Pending Results and Currently Drilling
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Attached are Sections 109+00 NE, 112+50 NE, 114+00 NE and 115+50 NE showing holes traces with gold and copper histogram results and a Plan Map showing the drill hole and section locations.
Walter Storm, President and CEO, stated: "For the fourth consecutive press release this year, we again are very pleased to announce a result that surpassed our finest result from the 2019 drill program. Last year, we had an excellent intercept from hole GS-19-47, which yielded 0.697 gpt Au Eq over 1081.5 meters (Section 114+00 NE)- and now we have yet another hole, GS-20-75 with a comparable result that was drilled along the same section but in the opposite direction from GS-19-47. Drill hole GS-20-75 averaged 0.741 gpt Au Eq over an impressive 1152.0 meters. With every hole our technical team completes, we are further defining the mineralized area. Clearly, however, much more drilling is required to locate the limits of the system due to the size and robust nature of the mineralization. Our commitment is to advance the project as far as possible this year and our team will push the winter elements to continue drilling as long as the conditions permit. We are proud of what we have achieved in these last two years of exploration. Given the amount of geological potential that the entire project possesses with the Goldstorm, Perfect Storm Z, Eureka and Orpiment Systems, we believe that similar results will continue to enhance the prospects for the Treaty Creek Project."
Tudor Gold Corp and our associated service companies have taken extreme measures to maintain the highest professional standards while working within COVID-19 health and safety protocols. Only essential personnel are permitted to enter the camp and staging areas. Of those who are at the project site and staging site, we have strict daily monitoring of the workers' temperatures and general health conditions. We have a certified paramedic at the staging area to examine all in-coming and out-going Tudor personnel and all service providers.
QA/QC
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.
Qualified Person
The Qualified Person for this news release for the purposes of National Instrument 43-101 is the Company's Vice President 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 100% 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:
Carsten Ringler
Head of Investor Relations and Communications
Phone: +1 604 559 8092 or +49 151 55362000
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. 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, 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.
Figure 1
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Figure 2
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Figure 3
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Figure 4
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Figure 5
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