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Vancouver, British Columbia--(Newsfile Corp. - December 15, 2021) - Tudor Gold Corp. (TSXV: TUD) (FSE: TUC) (the "Company" or "Tudor Gold") is pleased to present the most recent drill results from the 30,108 meter, 2021 resource expansion and definition drilling program for the Goldstorm Deposit at their flagship property, Treaty Creek (the "Project"), located within the Golden Triangle of Northwest British Columbia.
Included in this press release are the results of four diamond drill holes that were completed at the Goldstorm Deposit along two sections (112+00 NE and 115+00 NE), 300 metres apart. These results demonstrate the excellent continuity of precious and base-metal mineralization that has been measured throughout the Goldstorm deposit and provides increased drill hole density for future resource determinations. The Copper Belle-Goldstorm Deposit (CB-GS) currently hosts a 1*NI 43-101 compliant Measured and Indicated Mineral Resource of 19.4 million ounces of AuEq grading 0.74 g/t AuEq and an Inferred Resource of 7.9 million ounces of AuEq grading 0.79 g/t AuEq (see Tudor Gold press release dated March 9, 2021).
Goldstorm Drilling Highlights Include:
SECTION 115+00 NE
GS-21-122 provided closer hole spacing between previous intercepts of the deep, northwest extension of the CS600 domain. The hole averaged 0.65 g/t AuEq over 1,035.0 m, which included both the 300H and CS600 domains.
GS-21-122 encountered consistent gold and copper mineralization within the CS600 domain that returned 1.22 g/t AuEq (0.65 g/t Au and 0.45 % Cu) over 355.15 m, including an enriched portion that averaged 1.45 g/t AuEq (0.79 g/t Au and 0.53 % Cu) over 247.5 m.
GS-21-122 ended at 1375 m in gold mineralization, which may have been the start of the DS5 domain. The drill had reached its' maximum depth capacity.
GS-21-126, stepping out to the southeast, was stopped before the target due to drilling issues. This hole will be re-drilled in 2022.
SECTION 112+00 NE
GS-21-123 was designed to provide infill resource definition for the center of the CS600 domain. Unfortunately, this hole was not completed to the target depth and ended in mineralization. A portion of the CS600 domain was intersected, which averaged 1.22 g/t AuEq (0.61 g/t Au and 0.45 % Cu) over 38.8 m at the end of the hole.
The upper portion of GS-21-123 intersected consistent gold mineralization within the 300H domain with 0.90 g/t AuEq over 201.0 m that contained an enriched zone that graded 1.31 g/t AuEq over 49.9 m near the center of 300H domain.
GS-21-124 cut an intercept of the 300H domain that infilled and defined the deposit to the northwest just beneath the TTF1 thrust fault. This hole averaged 0.75 g/t AuEq over 1,089.0 m.
A Near-surface, enriched section of 300H was encountered in GS-21-124, grading 1.50 g/t AuEq over 126.0 m, within a 476.1 m interval that averaged 1.09 g/t AuEq.
Tudor Gold's Vice President of Exploration and Project Development, Ken Konkin, P.Geo., states: "We are pleased to report that the resource definition-drilling of the Goldstorm Deposit was a great success. In addition to expanding the limits of the precious and base-metal mineralization to the northwest, north and northeast, we were able to infill gaps in the resource model with carefully placed drill holes that were designed to add gold-equivalent ounces to the measured and drill indicated categories. In addition, these results demonstrate the strong consistency of the gold-copper mineralization between holes GS-21-122 and GS-21-124 that are approximately 500 meters apart; the overall results are very comparable: GS-21-122 averaged 0.65 g/t AuEq over 1,035 meters while GS-21-124 averaged 0.75 g/t AuEq over 1,089 meters. We expect to complete the final sections for the last four drill holes and combine this with our final surface sampling results for our next press release."
The complete list of these reported composited drilling results for Goldstorm, as well as the drill hole data, including hole location, elevation, depth, dip and azimuth, are provided in Table 1 and Table 2, respectively. Please click on the following link to view: Plan Map and Cross Sections for the drilling and surface samples reported in this news release.
Table 1: Drilling Results Goldstorm in Press Release December 15, 2021
And including (CS600)
(1) Hole ended prior to reaching target mineralization; no significant values (NSV).
(2) Hole ended in mineralization, shut down before reaching target depth due weather conditions.
(3) Hole ended in mineralization, shut down due to drilling issues.
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 December 15, 2021
UTM E NAD 83
UTM N NAD 83
The Company wishes to announce, that under section 182(4) of the Business Corporations Act, the Registrar of Companies has allowed Tudor to extend the time within which they are required to hold their AGM for the year 2021 by six (6) months from December 31, 2021 to June 30, 2022.
The Qualified Person for this news release for the purposes of National Instrument 43-101 is the Company's Vice President of Exploration and 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.
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 Pretium Resources Inc.'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.
President and Chief Executive Officer
For further information, please visit the Company's website at www.tudor-gold.com or contact:
Head of Corporate Development and Communications
Phone: (604) 559 8092
Head of Investor Relations and Communications
Phone: +49 151 55362000
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 Section Areas - Plan View
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Section 115+00 NE Viewing Northeast
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Section 112+00 NE Viewing Northeast
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1 * In April 2021 Tudor published a NI 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/107653