Vancouver, British Columbia--(Newsfile Corp. - November 28, 2023) - Tudor Gold Corp. (TSXV: TUD) (FSE: H56) (the "Company" or "Tudor Gold") is pleased to present the sixth 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 three drill holes that targeted the northeastern area of the Deposit however, only two were successfully completed: GS-23-176-W1 and GS-23-177. Drill hole GS-23-176 was terminated due to unfavorable deviation and was re-drilled as wedge hole GS-23-176-W1 which did reach the intended target area. The Goldstorm Deposit remains open in all directions and at depth. Click to view plan map and cross sections.
Ken Konkin, President and CEO, comments: "We are very pleased to announce the continuing expansion and definition of the Goldstorm domains in the northeastern sector of the Deposit. Three of the largest mineralized domains, including 300H, CS-600 and DS5, reported excellent results from these latest drill holes. The highlight of the 2023 program is the remarkable continuation of higher grades of gold, copper and silver throughout the northern aspect of the Goldstorm Deposit. One of the best-looking mineralized areas of the Deposit to date is the lower CS-600 domainwithin GS-23-176-W1, which returned273.75 m of 2.19 g/t AuEQ (1.98 g/t Au, 3.30 g/t Ag, 0.15 % Cu) that includes an enriched central core that averaged 3.51 g/t AuEQ (3.23 g/t Au, 5.57 g/t Ag, 0.19 % Cu) over 123.0 m. An interval of higher -than-average gold values was intersected near the end of GS-23-176-W1 that was associated with narrow quartz veinlets with minor disseminated pyrite; this is interpreted to be part of the DS5 domain, which may extend to greater depths than previously thought. If possible, we may extend this hole during the 2024 drill program to determine if there is a continuation to the lower 27 meters of mineralization that averaged 2.41 g/t AuEQ near the bottom of this hole.
The most significant aspect of GS-23-176-W1 may be the 15.0 m of 15.64 g/t AuEQ (14.89 g/t Au, 4.72 g/t Ag, 0.60 % Cu) that occurs at the core of the richest portion of the CS-600 domain. This enriched quartz stockwork in the lower part of CS-600 is a comparable-looking zone to the high-grade gold interval encountered within the CS-600 in GS-22-134, located 135 m to the west. GS-22-134 intersected 25.5 m of 9.96 g/t AuEQ (see Press Release dated July 19, 2023). This may be related to a later mineralizing event that over-prints the CS-600 copper-gold porphyry mineralization with a discrete high-grade gold-dominant quartz stockwork system. Our technical team is examining the hypothesis that we may have an independent high-grade system that cuts both 300H and CS-600 domains. Including the high-grade interval, the overall larger composite of the CS-600 domain totaling 601.5 m of 1.40 g/t AuEQ is comparable to that of GS-21-113-W2 which had a composite of 732.m of 1.60 g/t AuEQ (see Press Release dated August 11, 2022). These two intercepts could now significantly contribute to the Indicated Mineral Resource for the next Mineral Resource update, which will benefit from the increased drilling density provided by this program.
Equally impressive were the results from GS-23-177 where an enriched core of the 300H domain yielded 82.5 m of 1.92 g/t AuEQ within 311.5 m of 1.04 g/t AuEQ in the upper portion of that hole. Additionally, the composite for the CS-600 domain comprised yet another long intercept of 517.5 m that averaged 1.01 g/t AuEQ, which included an enriched core that averaged 1.53 g/t AuEQ (0.92 g/t Au, 5.80 g/t Ag, 0.46 % Cu) over 124.5 m. Near the lower contact of the CS-600 domain, another enriched zone was intersected that yielded 19.50 m of 5.70 g/t AuEQ (5.41 g/t Au, 1.09 g/t Ag, 0.24% Cu). The results from these two sections will add to the overall quantity of gold, silver and copper in the Indicated and Inferred categories of the next mineral resource update."
Section A
-
GS-23-176: Was drilled to target deep CS-600 domain mineralization, outside the current Mineral Resource area. The hole intersected 114.10m grading 1.01 g/t AuEQ (0.80 g/t Au, 8.10 g/t Ag, 0.10 % Cu) including 61.60 m grading 1.32 g/t AuEQ (1.01 g/t Au, 12.36 g/t Ag, 0.16 % Cu). The hole was stopped due to unfavorable deflection, and drilling was continued with a daughter wedge hole, GS-23-176-W1.
-
GS-23-176-W1: This hole successfully intersected the CS-600 domain with 601.5 m of 1.40 g/t AuEQ (1.23 g/t Au, 2.93 g/t Ag, 0.12 % Cu) which included a higher-grade interval of 273.75 m of 2.19 g/t AuEQ (1.98 g/t Au, 3.30 g/t Ag, 0.15 % Cu) that also included 123.0 m of 3.51 g/t AuEQ (3.23 g/t Au, 5.57 g/t Ag, 0.19 % Cu) and 15.0 m of 15.64 g/t AuEQ (14.89 g/t Au, 4.72 g/t Ag, 0.60 % Cu). Below the CS-600 domain, an interval of 27.0 m grading 2.41 g/t AuEQ (2.36 g/t Au, 3.91 g/t Ag, 0.01 % Cu) was intersected and is interpreted to be associated with the DS5 domain.
Section B
-
GS-23-177: This hole was drilled to increase the drilling density in the CS-600 domain where the current Mineral Resource Estimate is categorized as Inferred mineral resources. The hole intersected mineralization associated with the 300H domain that consisted of 311.5 m grading 1.04 g/t AuEQ (0.99 g/t Au, 4.06 g/t Ag and 0.01 % Cu) and included 82.5 m of 1.92 g/t AuEQ (1.84 g/t Au, 6.72 g/t Ag and 0.01 % Cu).
The CS-600 domain was intersected with 100.50 m grading 0.71 g/t AuEQ (0.54 g/t Au, 1.42 g/t Ag, 0.13 % Cu), followed by 517.5 m grading 1.01 g/t AuEQ (0.71 g/t Au, 2.35 g/t Ag, 0.23 % Cu), including an enriched core of 124.5 m grading1.53 g/t AuEQ (0.92 g/t Au, 5.80 g/t Ag, 0.46 % Cu), and including an enriched lower zone of 19.5 m grading 5.70 g/t AuEQ (5.41 g/t Au, 1.09 g/t Ag, 0.24% Cu).
Table 1: Drilling Results for Goldstorm Deposit in Press Release November 28, 2023
| Section |
Hole |
Zone |
From
(m) |
To
(m) |
Interval
(m) |
Au
(g/t) |
Ag
(g/t) |
Cu
(%) |
AuEQ
(g/t) |
| A |
GS-23-1761 |
CS 600 |
970.50 |
1084.60 |
114.10 |
0.80 |
8.10 |
0.10 |
1.01 |
| including |
1023.00 |
1084.60 |
61.60 |
1.01 |
12.36 |
0.16 |
1.32 |
| GS-23-176-W1 |
CS 600 |
67.50 |
669.00 |
601.50 |
1.23 |
2.93 |
0.12 |
1.40 |
| including |
390.75 |
664.50 |
273.75 |
1.98 |
3.30 |
0.15 |
2.19 |
| including |
441.00 |
564.00 |
123.00 |
3.23 |
5.57 |
0.19 |
3.51 |
| including |
451.50 |
466.50 |
15.00 |
14.89 |
4.72 |
0.60 |
15.64 |
| and inc. |
522.00 |
564.00 |
42.00 |
2.49 |
10.02 |
0.12 |
2.74 |
| DS5 |
814.50 |
841.50 |
27.00 |
2.36 |
3.91 |
0.01 |
2.41 |
| B |
GS-23-177 |
300H |
383.00 |
694.50 |
311.50 |
0.99 |
4.06 |
0.01 |
1.04 |
| including |
553.50 |
636.00 |
82.50 |
1.84 |
6.72 |
0.01 |
1.92 |
| including |
588.50 |
636.00 |
48.00 |
2.35 |
9.30 |
0.01 |
2.44 |
| CS 600 |
1033.50 |
1134.00 |
100.50 |
0.54 |
1.42 |
0.13 |
0.71 |
| CS 600 |
1186.50 |
1209.00 |
22.50 |
0.26 |
2.60 |
0.70 |
1.12 |
| CS 600 |
1242.00 |
1759.50 |
517.50 |
0.71 |
2.35 |
0.23 |
1.01 |
| including |
1395.00 |
1519.50 |
124.50 |
0.92 |
5.80 |
0.46 |
1.53 |
| including |
1414.50 |
1441.50 |
27.00 |
1.04 |
4.91 |
1.07 |
2.35 |
| and inc. |
1717.50 |
1737.00 |
19.50 |
5.41 |
1.09 |
0.24 |
5.70 |
- Hole was terminated prior to reaching target depth
- 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 November 28, 2023
| Section |
Hole ID |
UTM E NAD 83 |
UTM N NAD 83 |
Elevation (m) |
Azi (?) |
Dip (?) |
Depth (m) |
| A |
GS-23-176 |
429026 |
6273660 |
1495 |
318 |
-68 |
1084.6 |
| GS-23-176-W1 |
428833 |
6273915 |
651 |
333 |
-68 |
864.0 |
| B |
GS-23-177 |
428933 |
6273444 |
1398 |
307 |
-60 |
1980.0 |
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 Treaty Creek
The Treaty Creek Project hosts the Goldstorm Deposit, comprising a large gold-copper porphyry system, as well as several other mineralized zones. As disclosed in the "NI-43-101 Technical Report for the Treaty Creek Project", dated April 28, 2023 prepared by Garth Kirkham Geosystems and JDS Energy & Mining Inc., the Goldstorm Deposit has an Indicated Mineral Resource of 23.37 Moz of AuEQ grading 1.13 g/t AuEQ (18.75 Moz gold grading 0.91 g/t, 2.18 Blbs copper grading 0.15 %, 112.4 Moz silver grading 5.45 g/t) and an Inferred Mineral Resource of 7.35 Moz of AuEQ grading 0.98 g/t AuEQ (5.54 Moz gold grading 0.74 g/t, 0.85 Blb copper grading 0.16 %, 45.08 Moz silver grading 5.99 g/t), with a pit constrained cut-off of 0.5 g/t AuEQ and an underground cut-off of 0.7 g/t AuEQ. The Goldstorm Deposit has been categorized into three dominant mineral domains and several smaller mineral domains. The CS-600 Domain largely consists of an intermediate intrusive stock and hosts the majority of the copper mineralization within the Goldstorm Deposit. CS-600 has an Indicated Mineral Resource of 9.86 Moz AuEQ grading 1.10 g/t AuEQ (6.22 Moz gold grading 0.70 g/t, 1.98 Blbs copper grading 0.32 %, 51.1 Moz silver grading 5.71 g/t) and an Inferred Mineral Resource of 3.71 Moz AuEQ grading 1.19 g/t AuEQ (2.32 Moz gold grading 0.75 g/t, 0.76 Blb copper grading 0.36 %, 18.71 Moz silver grading 6.01 g/t). The Goldstorm Deposit remains open in all directions and requires further exploration drilling to determine the size and extent of the deposit.
1 AuEQ = Au g/t + (Ag g/t*0.0098765) + (Cu ppm*0.0001185)
About Tudor Gold
TUDOR GOLD CORP. is a precious and base metals exploration and development company with claims 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 Newmont Corporation's Brucejack property to the southeast.
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.
Treaty Creek - Section A
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Treaty Creek - Section B
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Goldstorm Deposit - Section A Cross Section
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Goldstorm Deposit - Section B Cross Section
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