VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 22, 2016) -Tudor Gold Corp. (TSX VENTURE:TUD)(FRANKFURT:TUC) (the "Company" or "Tudor") is pleased to report on its 2016 Treaty Creek field exploration program. The exploration program achieved three goa
- Planning, development, and commissioning of the physical infrastructure needed for an exploration program,
- Completion of a Magnetotelluric (MT) survey on a portion of the property, and
The early part of the 2016 field season was taken up with creating a base of operations in Stewart, British Columbia and the re-commissioning of the Treaty Creek camp. Two adjacent properties in Stewart were purchased to accommodate offices and staff housing. Those properties are now fully furnished and functioning and they will provide an operational base for future exploration activity. The Treaty Creek camp has been completely rebuilt and expanded to provide an operational base for up to 25 people during future field seasons.
2. MT survey
The field-work portion of the MT survey was completed in August 2016. The results gathered from the field were compiled, analyzed, and interpreted in the following months and a report was submitted by Simcoe Geoscience Ltd. in December.
The purpose of the MT survey was to locate otherwise unknown sub-surface anomalies which warrant further investigation through diamond-drilling. The results of the diamond-drilling identify the mineral makeup of the anomalies. Each drill hole thereby provides critical information used to help to interpret and refine the results of the MT survey.
In 2016, the MT survey was completed early enough to allow Tudor Gold to drill five holes targeting identified anomalies - the result of those holes are set out below.
The results of the MT survey and 2016 diamond-drilling program have been used to identify further diamond-drilling targets for the 2017 field season.
3. 2016 Diamond-drilling
Tudor Gold drilled eight holes on the Treaty Creek claims in 2016. Three holes were drilled on the Copper Belle zone (West side of the Treaty Glacier), and the remaining five holes were drilled on the Treaty Gossan and the Eureka zone (East side of the Treaty Glacier).
The first hole drilled on the Copper Belle zone - CB-16-01 - was undertaken before the completion of the MT survey. The purpose of CB-16-01 was to begin to explore the extent of the mineralization discovered through the American Creek 2009 hole (CB-09-14). The results of hole CB-16-01 were very encouraging and included the following mineralization: 0.449 g/t Au over 210m from 100m to 320m.
Holes CB-16-02 and CB-16-03 were drilled northeast of the known Copper Belle zone targeting anomalies identified by the MT survey. In addition to providing critical information useful for interpreting the MT survey, both holes revealed a new zone of gold-bearing mineralization. Assay results of those holes included the following: Hole CB-16-02 encountered 224m of .403 g/t Au from 202m to the bottom of the hole at 426m. The last 18m averaged 0.883 g/t Au. Hole CB-16-03, collared approximately 550m northeast of the historic Copper Belle Zone, returned 338m of 0.700 g/t Au from 88m to 426m.
Of the five holes drilled on the Treaty Gossan and the Eureka zone, three targeted anomalies identified by the MT survey and the remaining two targeted areas of interest identified by examination of surface exposures. While the three holes targeting the anomalies identified by the MT survey did not disclose significant mineralization, they provided critical information useful for interpreting both the geology and the MT survey. The two further holes, including one in the Eureka zone, also provided critical information useful for interpreting the MT survey and did reveal mineralization as follows: Hole E-16-05 intersected intermittent values from near surface to a depth of 276 metres, including 0.459 g/t Au over 15m from 27m to 42m, 0.473 g/t Au over 16.5m from 172.5m to 189m, and 0.438 g/t Au over 12m from 264m to 276m.
Quality control procedures in place include the field insertion of blanks, standards and duplicate samples into the sample stream. Analytical work was done by Activation Laboratories Ltd., an accredited laboratory located in Kamloops, B.C., and by ALS Minerals of Terrace and Vancouver, B.C. Gold was analyzed by 30 gram fire assay with AA or ICP finish. Other elements were analyzed by 38 element ICP-OES or 35 element ICP-AES following Aqua Regia extraction. Diamond drilling was contracted to More Core Drilling of Stewart, BC.
The main technical data in this news release was reviewed by James Hutter, P.Geo., Tudor Gold's Qualified Person as defined by National Instrument 43-101, who approved the applicable content of this release.
About the Company
Tudor Gold is a significant explorer in British Columbia's Golden Triangle, an area which hosts multiple past-producing mines and several large deposits that are approaching potential development. The Company has a 60% interest in both the Electrum and Treaty Creek properties, and a 100% interest in the Mackie, Eskay North, Orion, Fairweather, Delta and the High North properties, all of which are located in the Golden Triangle area.
Walter Storm, President and Chief Executive Officer
For further information, please visit the company's website at www.tudor-gold.com.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially.
All statements including, without limitation, statements relating to the potential mineralization and geological merits of the Treaty Creek property and other future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. 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. 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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Tudor Gold Corp.
Chief Financial Officer and Corporate Secretary