Vancouver, British Columbia--(Newsfile Corp. - October 8, 2024) - Tudor Gold Corp. (TSXV: TUD) (FSE: H56) (the "Company" or "Tudor") is pleased to announce the results from the final three drill-holes completed from the 2024 exploration drilling program (the "Program") that totaled 10,530 meters (m) at their flagship Treaty Creek Project, located in the heart of the Golden Triangle of Northwestern British Columbia.
The Supercell-One Zone (SC-1) was identified earlier this year to represent a significant potential economic target that is within, and peripheral to, the CS-600 Domain (see press releases dated February 1st,August 13th, and September 10th, 2024). The discovery of a fourth sub-parallel gold bearing breccia system (SC-1D) continues the expansion of the Supercell-One system. Drillhole GS-24-187 intersected 10.92 g/t AuEQover 3.00 m within SC-1C and 5.70 g/t AuEQover 3.00 m within a newly discovered SC-1D zone, both occurring within a strongly mineralized envelope that returned 1.43 g/t AuEQ over 99.00 m. The gold-rich SC-1 system occurs within an area measuring up to 800 m in length by 400 m in depth. All four stacked, sub-parallel structures remain open in all directions and to depth.
Drilling Highlights:
Hole GS-24-185 intersected a 150 m eastward step-out of the CS-600 Domain and the new SC-1D zone.
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CS-600: 1.01 g/t AuEQ over 200.50 m (0.92 g/t Au, 2.69 g/t Ag, 0.05% Cu)
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Including: 2.18 g/t AuEQ over 21.00 m (1.95 g/t Au, 2.92 g/t Ag, 0.17% Cu)
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SC-1D: 9.60 g/t AuEQ over 13.50 m (9.58 g/t Au, 0.44 g/t Ag, 0.01% Cu) *
Hole GS-24-186 intersected an 85 m northward step-out of the SC-1A zone.
- SC-1A: 10.40 g/t AuEQ over 1.50 m (9.78 g/t Au, 22.46 g/t Ag, 0.02% Cu)
Hole GS-24-187 intersected a 200 m northeastward step-out of the SC-1C zone, a 130 m northward step-out of the SC-1D zone and a 120 m northward step-out of the CS-600 Domain.
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SC-1C: 10.92 g/t AuEQ over 3.00 m (10.89 g/t Au, 0.97 g/t Ag, 0.02% Cu)
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SC-1D: 5.70 g/t AuEQ over 3.00 m (5.65 g/t Au, 0.95 g/t Ag, 0.03% Cu)
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CS-600: 1.22 g/t AuEQ over 115.50 m (0.75 g/t Au, 2.22 g/t Ag, 0.36% Cu
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Including: 1.68g/t AuEQ over 10.50 m (0.13 g/t Au, 4.76 g/t Ag, 1.22% Cu)
Click the following links to view a plan map and cross sections for holes GS-24-185, 186 and 187.
Ken Konkin, President and CEO, comments: "We are extremely pleased to announce the continued discovery of multiple sub-parallel, stacked, micro-breccia systems within the Supercell Complex. The consistent high-grade gold intercepts were discovered from the wide-spaced step-out drilling targeting the open-ended CS-600 domain in the northern and eastern areas of the Goldstorm Deposit. Crews were pleasantly surprized to observe consistent gold mineralization within the series of late-stage gold-dominant quartz-pyrite micro-breccia structures. We also reviewed and re-interpreted an earlier intercept from hole GS-24-185 that was initially thought to have been an off-set to Supercell-1C (SC-1C) but subsequent drilling confirmed that this 13.5 m intercept of 9.60 g/t AuEq belongs to Supercell-1D which lies directly below SC-1C as it appears to be an individual splay emanating from SC-1C as a new sub-parallel Supercell-1D (SC-1D). This newly discovered SC-1D was also intersected by drill hole GS-24-187 and yielded 3.0 m of 5.7 g/t AuEq. Additionally, an 85 m northward step-out with hole GS-24-186 intersected 10.40 g/t AuEq over 1.5 m, within the SC-1A breccia zone, the uppermost micro-breccia system discovered to-date. Our wide-spaced step-out drilling was equally successful in expanding the CS-600 domain well outside the known area of the Goldstorm Deposit towards the northeast. Significant gold, copper and silver mineralization was encountered with the 150 m eastward step-out hole GS-24-185 (1.01 g/t AuEq over 200.5 m) and the 120 m northern step-out hole GS-24-187 that intersected 1.22 g/t AuEq over 115.5 m. Although the Goldstorm Deposit remains open in all directions and at depth, our priority focus is on the Supercell Complex. This system holds great potential for enhancing the economic advantage of the Treaty Creek Project. The Goldstorm Deposit now contains a high-grade component that can be traced for over 800 m along a northern axis with a moderate westward dipping axis that measures over 400m. Our goal is to expand the limits of the four newly discovered Supercell structures to maximize the economic potential of these gold-dominant breccia systems as a possible starter mine, and to gain access to the CS-600 domain by utilizing the same infrastructure required to potentially mine the Supercell material. It is unknown if we will ever reach the limits of the Goldstorm Deposit as our technical team will concentrate all efforts on the high-grade portions of the Deposit. We plan to review other gold-dominant sub-domains such as R-66 and 300N that appear to have similar structural controls, and are composed of similar quartz-pyrite micro-breccia veinlets, to hopefully add to the growing high-grade gold story of the Goldstorm Deposit at Treaty Creek, within the heart of the Golden Triangle."
Drilling Discussion
Section A
- GS-24-185: This hole was drilled to step out 140 m from previously drilled SC-1C mineralization, as well as infilling CS-600 mineralization at depth. The hole intersected 13.50 m grading 9.60 g/t AuEQ (9.58 g/t Au, 0.44 g/t Ag, 0.01% Cu)* which is now interpreted as occurring within a fourth zone (SC-1D) of the network of subparallel brecciated Supercell-One complex of structures. This hole also intersected 200.50 m grading 1.01 g/t AuEQ (0.92 g/t Au, 2.69 g/t Ag, 0.05% Cu) of the CS-600 Domain representing a 150 m step-out towards the east.
*Previously reported (September 10th, 2024)
- GS-24-186: This hole was drilled to intersect SC-1 structures and CS-600 mineralization to the north. An intercept of 10.40 g/t AuEQ over 1.50 m (9.78 g/t Au, 22.46 g/t Ag, 0.02% Cu) represents an 85 m northward step-out of the SC-1A zone. Additionally, the CS-600 domain was intersected over 45.00 m grading 1.21 g/t AuEQ (0.86 g/t Au, 2.16 g/t Ag, 0.26% Cu).
- GS-24-187: This 150 m - 200 m northeastward step-out hole tested the extents of multiple SC-1 zones as well as the CS-600 Domain. The hole intersected a wide envelope of Au rich mineralization surrounding intercepts of SC-1C and SC-1D zones, totalling 99.00 m grading 1.43 g/t AuEQ (1.36 g/t Au, 2.21 g/t Ag, 0.04% Cu), which included 10.92 g/t AuEQ over 3.00 m (10.89 g/t Au, 0.97 g/t Ag, 0.02% Cu) within the SC-1C zone, and 5.70 g/t AuEQ over 3.00 m (5.65 g/t Au, 0.95 g/t Ag, 0.03% Cu) within the SC-1D zone. A further intercept of CS-600: 1.22 g/t AuEQ over 115.50 m (0.75 g/t Au, 2.22 g/t Ag, 0.36% Cu) expanded the CS-600 domain over 120 m to the north.
Table 1: Drilling Results for Goldstorm Deposit in Press Release October 8, 2024
| Section |
Hole |
Zone |
From |
To |
Interval |
Au |
Ag |
Cu |
AuEQ |
| (m) |
(m) |
(m) |
(g/t) |
(g/t) |
(%) |
(g/t) |
| B |
GS-24-185 |
CS-600 |
1094.00 |
1294.5 |
200.50 |
0.92 |
2.69 |
0.05 |
1.01 |
| Inc. |
1105.50 |
1126.50 |
21.00 |
1.95 |
2.92 |
0.17 |
2.18 |
| GS-24-186 |
SC-1A |
787.50 |
789.00 |
1.50 |
9.78 |
22.46 |
0.02 |
10.40 |
| CS-600 |
1261.50 |
1306.50 |
45.00 |
0.86 |
2.16 |
0.26 |
1.21 |
| Inc. |
1265.00 |
1288.20 |
23.20 |
1.11 |
2.97 |
0.47 |
1.73 |
| A |
GS-24-187 |
SC-1C |
919.50 |
922.50 |
3.00 |
10.89 |
0.97 |
0.02 |
10.92 |
| SC-1D |
975.00 |
978.00 |
3.00 |
5.65 |
0.95 |
0.03 |
5.70 |
| SC-1 |
919.50 |
1018.50 |
99.00 |
1.36 |
2.21 |
0.04 |
1.43 |
| CS-600 |
1074.00 |
1189.50 |
115.50 |
0.75 |
2.22 |
0.36 |
1.22 |
| Inc. |
1098.00 |
1108.50 |
10.50 |
0.13 |
4.76 |
1.22 |
1.68 |
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All assay values are uncut and intervals reflect drilled intercept lengths.
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HQ and NQ2 diameter core samples were sawn in half and typically sampled at standard 1.5 m intervals.
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The following metal prices were used to calculate the Au Eq metal content: Gold $1850/oz, Ag: $21/oz, Cu: $3.75/lb. Calculations used the formula AuEQ = Au g/t + (Ag g/t*0.0100901) + (Cu ppm*0.0001236). All metals are reported in USD and calculations consider recoveries of 90 % for gold, 80 % for copper, and 80 % for silver.
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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 8, 2024
| Section |
Hole ID |
UTM E NAD 83 |
UTM N NAD 83 |
Elevation (m) |
Azi (?) |
Dip (?) |
Depth (m) |
| B |
GS-24-185 |
429306 |
6274219 |
1373 |
240 |
-76 |
1350 |
| A |
GS-24-186 |
428982 |
6274265 |
1462 |
265 |
-82 |
1566 |
| B |
GS-24-187 |
429306 |
6274219 |
1373 |
265 |
-83 |
1440 |
Tudor also announces a quarterly update with respect to the Company's previously announced "at-the-market" equity program (the "ATM Program") launched on February 13, 2024. The ATM Program allows the Company to issue and sell, from time to time, up to $20,000,000 of its common shares ("Common Shares") from treasury to the public, at the Company's discretion, pursuant to an equity distribution agreement between the Company and Research Capital Corporation (the "Agent").
During the quarterly period ended September 30, 2024, the Company issued a total of 1,002,600 common shares on the TSX Venture Exchange (the "TSXV") at an average price of C$0.9779 per share under the ATM Program, providing gross proceeds of C$980,477.09. Commissions of C$22,060.73 were paid to the Agent in relation to these distributions.
For further details on the ATM Program, see the Company's news release dated February 14, 2024.
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 5, 2024 prepared by Garth Kirkham Geosystems and JDS Energy & Mining Inc., the Goldstorm Deposit has an Indicated Mineral Resource of 27.87 million ounces (Moz) of AuEQ grading 1.19 g/t AuEQ (21.66 Moz gold grading 0.92 g/t, 2.87 billion pounds (Blbs) copper grading 0.18%, 128.73 Moz silver grading 5.48 g/t) and an Inferred Mineral Resource of 6.03 Moz of AuEQ grading 1.25 g/t AuEQ (4.88 Moz gold grading 1.01 g/t, 503.2 Mlb copper grading 0.15%, 28.97 Moz silver grading 6.02 g/t), with a pit constrained cut-off of 0.7 g/t AuEQ and an underground cut-off of 0.75 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 nested pulses of diorite intrusive stocks and hosts the majority of the copper mineralization within the Goldstorm Deposit. CS-600 has an Indicated Mineral Resource of 15.65 Moz AuEQ grading 1.22 g/t AuEQ (9.99 Moz gold grading 0.78 g/t, 2.73 Blbs copper grading 0.31%, 73.47 Moz silver grading 5.71 g/t) and an Inferred Mineral Resource of 2.86 Moz AuEQ grading 1.20 g/t AuEQ (1.87 Moz gold grading 0.79 g/t, 475.6 Mlb copper grading 0.29%, 13.4 Moz silver grading 5.63 g/t). The Goldstorm Deposit remains open in all directions and requires further exploration drilling to determine the size and extent of the Deposit.
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.
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 Areas - Plan View
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GOLDSTORM DEPOSIT - Section A
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GOLDSTORM DEPOSIT - Section B
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GOLDSTORM DEPOSIT- Section B
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GOLDSTORM DEPOSIT - Viewing Northwest
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225954
