Walter Storm, President and CEO
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.