TUDOR GOLD Corp. Announces Another New Property Acquisition in Golden Triangle Area, British Columbia
The Orion Property
The 3,154.5 hectare Orion property is located west of TUDOR GOLD Corp’s recently acquired Delta/Fairweather properties and immediately south of TUDOR GOLD Corp’s High North property in the Skeena Mining division approximately 50 km north-northwest of Stewart, British Columbia. The Orion property has been subjected to intermittent prospecting programs from 1995 to 2007 and a small diamond drill program in 2007. A float sample collected in 2006 on the Orion property returned 6.02 grams gold per tonne gold and 20.3 grams silver per tonne but its source could not be determined.
The eastern portion of the Orion property hosts the Cat-in-the-Hat showing where a 1994 trench returned 2.2 gram gold per tonne and 1.36% arsenic over 13 meters and grab samples returned from 10 parts per billion (“ppb”) gold to 47.5 grams gold per tonne (BC Assessment Report 23885). A five hole diamond drill program targeting the Cat-in-the-Hat showing was completed in 2007. Holes OR2007-1 and 2 were drilled from the same site and returned significant mineralization (see table below), while three holes drilled approximately 100 meters to the east from the same drill pad failed to encounter any significant mineralization.
| Drill Hole | From (m) | To (m) | Interval (m) | Arsenic (ppm) | Gold (g/t) |
|---|---|---|---|---|---|
| OR2007-01 | 6.8 | 12.8 | 6.0 | 1681 | 0.72 |
| 20.4 | 23.4 | 3.0 | 6176 | 2.88 | |
| OR2007-01 | 75.3 | 78.3 | 3.0 | 1952 | 0.52 |
| 96.6 | 99.6 | 3.0 | 3853 | 0.78 |
The Company has been granted an option, subject to Exchange approval, to acquire a 100% interest in the property by making option payments totaling $700,000 over a five year period, and the issuance of up to 700,000 shares in the capital of the Company over a five year period, with an initial issuance of 250,000 shares upon the Company receiving Exchange approval. The property is subject to a 2½% NSR royalty.
The Company will pay no finder’s fee in connection with the proposed acquisition. The shares issued in connection with the Orion property will be subject to a statutory hold period of four months and a day from the date of issue.
The qualified person
The foregoing technical disclosure and scientific information, including results of the previous exploration, has been reviewed, compiled and approved by Richard A. Graham, P. Geol., who is a ‘qualified person’ for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects.
ON BEHALF OF THE BOARD OF DIRECTORS OF
TUDOR GOLD CORP.
For further information, please visit the Company’s website at www.tudor-gold.com or contact:
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