TUDOR GOLD INTESIFIES EXPLORATION EFFORTS AND BRINGS IN A THIRD DIAMOND DRILL RIG FOR TREATY CREEK
Vancouver, BC, Canada – June 22, 2020 – Tudor Gold Corp. (TSXV: TUD) (Frankfurt: TUC) (the “Company” or “Tudor Gold”) is pleased to announce that it has added a third diamond drill rig to the 2020 program as Tudor Gold intensifies it’s exploration efforts at its flagship property, Treaty Creek located in the Golden Triangle of Northwestern British Columbia. Diamond drilling started on the Goldstorm Zone with two drill rigs in May.
Tudor Gold Corp’s V.P. Project Development, Ken Konkin, P.Geo. states: “The drilling has gone very well to-date given the early start in May. Both drill rigs are working extremely well as we outline the peripheral edges of the Goldstorm mineralization. We recognize that in order to achieve the goals of having our preliminary drill measured and drill indicated resource estimate completed for year-end, we need to accelerate our drilling production. The Goldstorm system is proving to be very large, as we have currently delineated 850m along the northeastern axis and 600 meters along the southeastern axis and just over 1080 meters at it’s deepest point. Depending on the depths and widths of mineralization encountered, we may require more than three drills to complete this task. Furthermore, we will be drill testing the Perfect Structural Storm (PS2), a new geophysical and geological target located mid-way between our Goldstorm system and Seabridge’s Iron Cap deposit. The first holes at PS2 will be located within a cluster of surface samples that have returned anomalous gold values.”
The 2020 budget allows for 22,500 meters of drilling on the Goldstorm Zone. The gold-copper-silver mineralization remains open to the northeast and to the southeast, as well as to depth. The goal of the 2020 drilling program is to clearly define the limits of the mineralization to facilitate the resource calculations.
Walter Storm, President and CEO stated: “Our entire team has done an excellent job initiating an early start to our drill program in very difficult winter conditions. I am very pleased with the progress made to date. In an effort to extend our drilling season, we have submitted a permit application to the Ministry of Mines to construct a new drill camp that is much lower in elevation than our current camp. This new camp will be beneficial in extending the drill season into the fall months as crews will be able to access the drills without helicopter support, making it a much safer, cost effective and productive drilling season. We continue to work safely and productively, observing the protocols set out in our COVID-19 safety procedures.”
The company also announces that further to its news release dated June 01 2020, it had issued 481,927 common shares of the Company in settlement of cash payments of $320,000 owed to Teuton Resources Corp, forming part of the consideration for the Company’s option to acquire 100% interest in the Orion, Fairweather, Delta and High North properties located in the Golden Triangle of British Columbia.
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.
Cautionary Statements regarding Forward-Looking Information
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 other than statements of historical fact included in this release, including, without limitation, statements regarding analysis and re-interpretation of data, and potential mineralization and geological merits of the Treaty Creek Project 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. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Company’s expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or 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 actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements. 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.