TUDOR GOLD Corp. (TSXV: TUD) (FSE: TUC) (the “Company” or “TUDOR GOLD”) is pleased to report that during the 2017 field season an access road to the Electrum property has been completed.
In 2015/16 the access road from the end of the Granduc Mine Road to the Electrum property was refurbished and upgraded over a 3.5 kms distance. This past summer Tudor invested $270,000 to complete a new 700 metre extension into the Electrum Project. The property is now connected by road to an all season deep water port at Stewart, BC. Additional important infrastructure includes Long Lake Hydro Power infrastructure, Stewart Airport and Highway 37.
Walter Storm, President & CEO
“We are very pleased to have completed this access road, which will now allow us to proceed with a 10,000 ton bulk sample of this high grade gold/silver mineralized zone, subject to receipt of permits. A bulk sample in combination with past drill results will further our geological understanding and unlock value of this high grade mineralized system.”
Background on the electrum Property
The Electrum property is a 60:40 joint venture between TUDOR GOLD (as operator) and American Creek Resources Ltd. It is located between the past producing Premier gold mine (in the 1920’s North America’s greatest dividend payer), and British Columbia’s newest gold mine, the Valley of the Kings. Recently commissioned at a cost of $1 Billion dollars, it hosts proven and probable reserves of 8.1 million ounces of gold (see www.pretivm.com). Within this area are several other past producing mines as well as new projects undergoing exploration.
One portion of the Electrum property includes the historic East Gold mine which was hand mined between 1939 and 1965, producing 3,816 oz of gold and 2,442 oz of silver from 45 tons of selected ore (BC Ministry of Mines Assessment Report 30206). These historic production values have not been independently verified by TUDOR GOLD.
Due to a serious back-log of assays involving multiple exploration companies, Tudor is still waiting for approximately 40% of outstanding assays from the two separate areas drilled this year on the property, the Copper Belle and GR2 (HC) zones. Representatives from Tudor have visited the Laboratory and made these concerns known.