Step-out Drilling Further Extends the Goldstorm System by Another 150m to the Northeast with Hole GS-20-64 Intersecting 1.482 gpt AuEq over 154.5 Meters Within 550.55 Meters Intercept Averaging 0.983 gpt AuEq.
Vancouver, British Columbia--(Newsfile Corp. - July 27, 2020) - Tudor Gold Corp. (TSXV: TUD) (FSE: TUC) (the "Company" or "Tudor Gold") is pleased to announce that it has completed the second 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 is progressing very well on the Goldstorm Zone which is on-trend from Seabridges' KSM Project located five kilometers southwest of our Goldstorm System. As well, three more drills have been mobilized to the project. This brings the total to five diamond drill rigs working at Treaty Creek. A sixth diamond drill is expected to arrive shortly at Treaty Creek. Tudor Gold intends to double the diamond drill hole program from the original plan of 20,000 meters to at least 40,000 meters of drilling for 2020. Tudor Gold is fully funded to complete this aggressive drill hole program. The preliminary drilling this season has yet to delineate the limits of the Goldstorm system as it remains open in all directions and to depth. It will require all six drills to complete the drilling required for the completing the exploration program for the Goldstorm Au-Cu-Ag System.
Tudor Gold's Vice President of Project Development, Ken Konkin, P.Geo., states: "For the second time this month, we are very pleased to have bettered the results obtained earlier from GS-20-57 which has an enriched interval that averages 1.40 gpt AuEq over 217.5 meters (544.5 to 762.0 meters) within an overall composite average of 0.845 gpt AuEq over 973.05m (34.50 to 1077.55 meters). Hole GS-20-65 was designed as a 100-meter undercut to drill hole GS-20-57. The result was a remarkable 348 meter intercept of 2.120 gpt AuEq within a larger 930 meter intercept of 1.161 gpt AuEq in drill hole GS-20-65. More drilling will be required in this central region in order to better define these higher-grade metal plumes that we believe occur throughout the Goldstorm System. There were three results over 15.0 gpt Au that occurred within GS-20-65. These include: 19.7 gpt Au over 1.5m (145.5 to 147.0 meters), 22.5 gpt Au over 1.5m (310.5 to 312.0 meters) and 34.2 gpt Au over 1.0 meter (921.0 to 922.0 meters). The focus for the rest of this summer will be to complete the exploration drilling to the limits of the known mineralization along the north-eastern axis. We have begun drilling on Pad 8 which is a 150 meter north-easterly step out from hole GS-20-47, which was the best intercept generated in 2019 where we obtained an intercept of 0.697 gpt AuEq over 1081.5 meters. That hole stopped in mineralization as it was the limit of the drill's capacity. This year all six drills have modified heads to complete drill holes in excess of 1,800 meter depths. However, we anticipate that our longest holes for 2020 will be approximately 1,400 meters long."
Konkin adds "One of the most impressive aspects of the Goldstorm System is the consistent strength of the mineralization. Drill hole GS-20-64 was a steep-angled 150m step-out hole drilled to the northeast beyond the trace of the DS-5 intercept. This exploration hole targeted the extension of a very robust stockwork system that was intersected at the bottom of drill hole GS-19-47, 0.996 gpt AuEq over 243 meters (933.5 to 1176.5 meters). The intercept ended in mineralization at 1199m. The same DS-5 zone was intersected in GS-20-64 that doubled the intercept length from 243 meters to over 550 meters averaging 0.983 gpt AuEq (648.4 to 1198.95 meters) which is extremely consistent with the results obtained in GS-19-47. An enriched, upper portion of the stockwork system yielded 1.482 gpt AuEq over 154.5 meters (771.5 to 926.0 meters). We are currently re-drilling drill hole GS-19-47 as the system may be much larger than originally thought given the results obtained from the 150m northeast step out hole GS-20-64. The target is to drill through the entire stockwork profile that was discovered in 2019."
The two tables below provide the complete list of drill hole results as well as the drill hole data including hole location, elevation, depth, dip and azimuth. The Section 110+00 NW and 115+50 NE are included at the bottom of the news release and on the Company's website. These sections show the new drill holes plotted on their respective sections.
Table l Gold equivalent composite values from Section 110+00 & 115+50 NE of the Goldstorm Zone.
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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 lI Drill hole data for GS-20-63 to GS-20-65 of the Goldstorm Zone.
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Walter Storm, President and CEO, stated: "Our technical team continues to explore several fronts of the target while obtaining excellent results and we continue significantly expand the size of Goldstorm system. The northeast-trending axis of the mineralized body of Goldstorm now exceeds a kilometre in length and we have yet to find the limit of the mineralization to the northeast and to depth. It was necessary to intensify our efforts by doubling our program to 40,000 meters and utilizing more drill rigs. We are very happy to announce the approval of our new work permit that allows us to expand drilling at Goldstorm as well as drill other zones. Tudor Gold's construction crews are planning on building a lower drill camp that will add several months to the exploration season. We are now able to build operational trails to gain over-land access to the zones from the current camp and from the proposed lower camp at the toe of Treaty Glacier."
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.
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.
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.
President and Chief Executive Officer
For further information, please visit the Company's website at www.tudor-gold.com or contact:
Director Corporate Development and Communications
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Phone: +49 1726918274
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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.
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