Vancouver, British Columbia--(Newsfile Corp. - October 4, 2022) - Tudor Gold Corp. (TSXV: TUD) (FSE: TUC) (the "Company" or "Tudor Gold") is pleased to present the seventh set of drill results for the 2022 exploration program (the "Program") at their flagship property, Treaty Creek, located in the heart of the Golden Triangle of Northwestern British Columbia.
Ken Konkin, President and CEO, comments: "We are very pleased to confirm that our step-out and in-fill drilling is progressing extremely well. We continue to intersect higher gold values within broad mineralized envelopes within the northern aspect of the Goldstorm Deposit. Both 300H and CS600 domains yield very consistent gold mineralization with continued strong copper grades observed throughout the CS600 domain. Our geological team was delighted to observe a similar pulse of enriched gold mineralization within the 300H domain with holes GS-22-145-W1 (2.00 g/t AuEQ over 66.0 m) and GS-22-154 (4.38 g/t AuEQ over 57.0 m)which are approximately 400 m apart. These holes also share the similar characteristic of containing a higher-grade core of 8.22 g/t AuEQ over 5.0 m (GS-22-145-W1) and 7.84 g/t AuEQ over 15.0 m (GS-22-151-W1). Exploration for the high-grade gold potential in the northern region of the Goldstorm Deposit will be a priority for the 2023 exploration season. Additionally, the CS600 domain continues to demonstrate very strong and consistent copper mineralization with obvious disseminated and veinlet chalcopyrite throughout the CS600 domain with notable addition of disseminated bornite in the deeper portions of the domain. There is also a distinct higher-grade of copper mineralization of 0.57% Cu over 99.0 m within a 199.0 m envelope of 0.44% Cu (GS-22-154) in the CS600 domain. Drilling is expected to continue well into October as the Goldstorm Deposit remains open in all directions and at depth."
The Program at the Treaty Creek property includes an aggressive resource expansion and delineation plan for several areas, including the Goldstorm Deposit and the Eureka and Calm Before the Storm Zones. Results included in this press release are reported from five diamond drill holes that were drilled on the Goldstorm Deposit (Sections 114+00, 116+50 and Section J). At Goldstorm, four out of five holes were drilled partially or completely outside the 2021 NI 43-101 Mineral Resource Estimate area (see link: corresponding Treaty Creek plan map and sections).
GOLDSTORM DEPOSIT
SECTION 114+00 NE
- GS-22-155 was drilled to target the footwall of the Treaty Thrust Fault 1 (TTF1) where the March 2021 NI 43-101 Mineral Resource Estimate classified the area largely as Inferred Mineral Resource. The drill hole successfully intercepted mineralization in close proximity to TTF1, below which intercepted 136.5 m grading 1.62 g/t AuEQ (1.54 g/t Au, 3.49 g/t Ag, 0.04 % Cu) within a broader envelope of 1.28 g/t AuEQ (1.20 g/t Au, 3.39 g/t Ag, 0.04 % Cu) over 222.0 m.
SECTION 116+50 NE
- GS-22-154 was drilled to target an area down-plunge of the CS600 domain, which exists outside of the March 2021 Mineral Resource area. Preliminary results were released on September 12, 2022 to a depth of 1236.0, with an initial interpretation of a higher-grade zone being attributed to the 300H domain. An interval consisting of steeply dipping, north-trending quartz stockwork veins and veinlets bearing sulphosalt minerals, pyrite, and sphalerite returned 57.0 m grading 4.38 g/t AuEQ (4.30 g/t Au, 5.91 g/t Ag, 0.01 % Cu) with an enriched interval of 15.0 m grading 7.84 g/t AuEQ (7.76 g/t Au, 6.58 g/t Ag, 0.01 % Cu).
At depth, the CS600 domain was intercepted and reported 199.5 m grading 1.04 g/t AuEQ (0.45 g/t Au, 3.01 g/t Ag, 0.44 % Cu) in the intrusive hosted Gold-Copper porphyry system.
SECTION J
- GS-22-145 was drilled to target a deep intercept of CS600, however, was terminated due to unfavorable deviation and was then used as a parent hole for wedging. However, this drill hole intercepted a mineralized system that graded 0.90 g/t AuEQ (0.77 g/t Au, 9.27 g/t Ag, 0.02 % Cu) over 127.0 m before it was stopped.
- GS-22-145-W1 was drilled as a wedge daughter hole from GS-22-145 and was designed to target the CS600 domain. The hole intercepted strong sulphide mineralization which correlated well to that intercepted in GS-22-154, within a quartz stockwork system. The intercept averaged 2.00 g/t AuEQ (1.86 g/t Au, 10.54 g/t Ag, 0.01 % Cu) over 66.0 m. An enriched portion of the interval returned 8.22 g/t AuEQ (8.16 g/t Au, 4.80 g/t Ag) over 5.0 m. This stockwork interval was located 400 m from the high-grade interval intercepted in GS-22-154.
Minor CS600 style mineralization was noted at depth, however, the drill hole experienced excessive lift at depth and the hole intercepted peripheral CS600 mineralization.
- GS-22-151-W1 continued from its parent drill hole GS-22-151 to intersect the northwest extent of CS600. Preliminary results were reported in the September 12, 2022 press release to a depth of 946.5 m. In addition to the preliminary results, the CS600 domain was intercepted with a total of 300.0 m grading 1.27 g/t AuEQ (0.95 g/t Au, 2.43 g/t Ag, 0.25 % Cu). Intervals of stronger mineralization were also recorded, such as 7.5 m grading 4.10 g/t AuEQ (3.96 g/t Au, 3.85 g/t Ag, 0.08 % Cu).
Table 1: Drilling Results for the Goldstorm Deposit in Press Release October 4, 2022
| Section |
Hole |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
Ag (g/t) |
Cu (ppm) |
AuEQ (g/t) |
| J |
GS-22-145 (300H) |
531.00 |
658.00 |
127.00 |
0.77 |
9.27 |
168 |
0.90 |
|
including |
618.00 |
658.00 |
40.00 |
0.86 |
25.50 |
354 |
1.20 |
| J |
GS-22-145-W1 (300H) |
32.00 |
341.00 |
309.00 |
0.83 |
3.78 |
101 |
0.89 |
|
Including |
272.00 |
338.00 |
66.00 |
1.86 |
10.54 |
116 |
2.00 |
|
Or including |
317.00 |
322.00 |
5.00 |
8.16 |
4.80 |
40 |
8.22 |
|
And (CS600) |
1562.00 |
1589.00 |
27.00 |
1.00 |
14.58 |
784 |
1.26 |
| J |
GS-22-151-W1 (300H)(1) |
57.00 |
139.50 |
82.50 |
1.22 |
1.40 |
176 |
1.25 |
|
And |
423.00 |
508.50 |
85.50 |
0.86 |
1.68 |
625 |
0.95 |
|
And |
532.50 |
627.00 |
94.50 |
0.76 |
1.50 |
1152 |
0.92 |
|
And (CS600) |
744.00 |
1044.00 |
300.00 |
0.95 |
2.43 |
2493 |
1.27 |
|
Including |
744.00 |
745.50 |
1.50 |
59.30 |
12.80 |
663 |
59.53 |
|
And including |
1003.50 |
1042.50 |
39.00 |
1.81 |
3.64 |
1177 |
1.99 |
|
Or |
1014.00 |
1032.00 |
18.00 |
2.85 |
2.50 |
707 |
2.96 |
|
Or |
1024.50 |
1032.00 |
7.50 |
3.96 |
3.85 |
800 |
4.10 |
| 116+50 NE |
GS-22-154 (300H)(2) |
418.50 |
598.50 |
180.00 |
1.97 |
3.72 |
124 |
2.02 |
|
Including |
429.00 |
522.00 |
93.00 |
3.12 |
4.59 |
101 |
3.18 |
|
Or |
438.00 |
495.00 |
57.00 |
4.30 |
5.91 |
96 |
4.38 |
|
Or |
438.00 |
453.00 |
15.00 |
7.76 |
6.48 |
63 |
7.84 |
|
And (CS600) |
1251.00 |
1450.50 |
199.50 |
0.45 |
6.01 |
4366 |
1.04 |
|
Including |
1299.00 |
1398.00 |
99.00 |
0.52 |
8.83 |
5686 |
1.30 |
| 114+00 NE |
GS-22-155 (300H) |
475.50 |
697.50 |
222.00 |
1.20 |
3.39 |
389 |
1.28 |
|
Including |
492.00 |
628.50 |
136.50 |
1.54 |
3.49 |
364 |
1.62 |
(1) Drill hole GS-22-151-W1 was reported to 946.5 m in the September 12, 2022 press release. Results are fully reported in the current press release.
(2) Drill hole GS-22-154 was reported to 1236.0 m in the September 12, 2022 press release. Results are fully reported in the current press release.
- 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 $1625/oz, Ag: $19/oz, Cu: $2.8/lb. Calculations used the formula Au Eq g/t = (Au g/t) + (Ag g/t x 0.01169) + (Cu% x 1.1815). 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 2: Drill data for holes in Press Release October 4, 2022
| Section |
Hole ID |
UTM E NAD 83 |
UTM N NAD 83 |
Elevation (m) |
Azi (?) |
Dip (?) |
Depth (m) |
| J |
GS-22-145 |
428923.20 |
6273439.00 |
1392.40 |
302 |
-56 |
658 |
| J |
GS-22-145-W1 |
428689.52 |
6273593.80 |
969.07 |
288 |
-53 |
1436 |
| J |
GS-22-151-W1 |
428786.79 |
6273625.20 |
957.30 |
323 |
-62 |
1068 |
| 116+50 NE |
GS-22-154 |
428781.30 |
6273288.30 |
1344.90 |
293 |
-57 |
1551 |
| 114+00 NE |
GS-22-155 |
428651.00 |
6273191.00 |
1369.00 |
295 |
-55 |
822.5 |
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 Tudor Gold
TUDOR GOLD Corp. is a precious and base metals exploration and development company with properties 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 Newcrest Mining Limited's Brucejack property to the southeast. In April 2021 Tudor published their 43-101 technical report, "Technical Report and Initial Mineral Resource Estimate of the Treaty Creek Gold Property, Skeena Mining Division, British Columbia Canada" dated March 1, 2021, on the Company's Sedar profile. The Company also has a 100% interest in the Crown project and a 100% interest in the Eskay North project, all located in the Golden Triangle area.
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
Head of Corporate Development and Communications
Phone: (604) 559 8092
E-Mail: chris.curran@tudor-gold.com
or
Carsten Ringler
Head of Investor Relations and Communications
Phone: +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.
Goldstorm Deposit - Section Areas - Plan View
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Goldstorm Deposit - Section 114+00 NE
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Goldstorm Deposit – Section 116+50 NE
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Goldstorm Deposit – Section J
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