Tudor Gold Corp. Reports Drill Interval of 54 Meters Grading 1.12 g/t Gold Within Broader Zone of 0.53 g/t Gold Over 630 Meters at Treaty Creek
VANCOUVER, BRITISH COLUMBIA - Tudor Gold Corp. (TSX VENTURE:TUD) (FRANKFURT:TUC) (the "Company" or "Tudor") is pleased to announce that the complete assays for drill hole CB-16-03 on the Treaty Creek property have returned 0.526 g/t Au over 629.7 meters, including 54 meters from 88 to 142 meters of 1.117 g/t Au and 122 meters from 304 to 426 meters of 0.965 g/t Au. The drill hole terminated at 717.7 meters in mineralization with the final 13.7 meters averaging 0.315 g/t Au.
Walter Storm, CEO and President of Tudor Gold says:
"The complete results from CB-16-03 confirm our belief that Treaty Creek holds the potential to host significant gold mineralization and validates our exploration model. To date, we have successfully hit gold mineralization down to 717 meters downhole and have encountered nearer to surface gold mineralization like the 1.12 grams gold per tonne over 54 meters starting at 88 meters downhole, which opens up the targeted area."
Drill Hole CB-16-03 was drilled at an azimuth of 292º with an inclination of -73º and was collared approximately 550 meters northeast of the nearest of the Copper Belle zone drill holes (CB-09-11 which carried 229m of 0.52 g/t gold from 40m to 270 m, CB-09-10 which carried 212m of 0.47 g/t gold from 119m to 331 m and CB-09-06 which carried 65.3m of 0.84 g/t gold, American Creek Resources Press Release October 12, 2016). The new gold intercept encountered in CB-16-03 may represent a new mineralized zone or could possibly be an extension of the previously known Copper Belle Zone. Further work will be required in order to investigate the continuity between these areas. The casing has been left in place so the hole may be re-entered and extended if desired. All intervals are down hole widths as there is not enough information to calculate true widths of the mineralization encountered in any of the holes.
Hole CB-16-03 was drilled to test a geophysical anomaly identified on a preliminary Magnetotelluric (MT) profile along Seabridge Gold's proposed tunnel route and further defined based on a survey carried out by Simcoe Geoscience Ltd. earlier in the season. Tudor awaits the final results of the MT survey.
Tudor previously released partial assay results from hole CB-16-03 (316 to 717.7 meters downhole), along with complete assays for drill holes CB-16-01 and CB-16-02 in Tudor's Press Release dated October 11, 2016. In total, eight holes were drilled on the property for a total of 3765 meters during the 2016 field season. Assay results are pending for the last five holes.
Tudor's 60% owned Treaty Creek property is situated north of the KSM property of Seabridge Gold and the Brucejack property of Pretium Resources in the Golden Triangle region of northwestern British Columbia. Teuton Resources Corp. and American Creek Resources Ltd. each hold a 20% carried interest in the property (carried until a production decision is made) as well as NSR interests. Tudor Gold Corp. is the operator.
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 is 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.
President and Chief Executive Officer
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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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Aris Morfopoulos Chief Financial Officer and Corporate Secretary 604-721-2650 firstname.lastname@example.org www.tudor-gold.com