TUDOR GOLD Corp. Discovers New Gold Zone at Treaty Creek: 110 m of 0.909 g/t Gold, Upper 316 m of Hole yet to be Assayed
The new zone was intersected in the third hole of the 2016 drilling program (drill hole CB-16-03) and is located approximately 870 m northeast of the Copper Belle zone (drilled in 2007 and 2009). Impetus for drilling the hole was a magnetotelluric survey (MT survey) which was run earlier in the 2016 field season.
The first 316 m of CB-16-03 is still in the assay laboratory (results for this interval are expected within the next weeks). Assays from 316 m to the end of the hole at 717.7 m are in hand. From 316 m to 426 m, a 110 m interval averages 0.909 g/t gold. Below 426 m gold values drop off with some higher-grade exceptions, the two most prominent of which are 456 m to 484 m, a 28 m interval running 0.665 g/t gold and from 598 to 610 m, a 12 m interval running 1.258 g/t gold. This hole was drilled at an azimuth of 292° and an inclination of -73°.
Ray Marks, vice-president of TUDOPR GOLD stated, “We are very pleased to see that the information learned from the recent MT survey proved valuable in correctly delineating the drill target that was intercepted by drill hole CB-16-03.”
D. Cremonese, P.Eng., president of Teuton Resources Corp., one of the original owners of the property, commented as follows: “I had a chance to visit the Treaty Creek property in the past week to observe the exploration program being run by operator TUDOR GOLD. The first thing that struck me was the tremendous ablation (meltback) of snow and ice that has occurred during the past years. It is really remarkable—several side glaciers have disappeared altogether and the level of the main Treaty Glacier is much, much lower than before. This has opened up big tracts of virgin ground for exploration. The collar for Hole CB-16-03 would undoubtedly have been under the ice when I first visited the property in 1983. Notably, the discovery interval, 110 m interval of 0.909 g/to gold in Hole CB-16-03, represents the highest average grade yet achieved at Treaty Creek. It is significant in its own right, but if this interval is extended by the assays yet to come, an important new gold zone would be in the making on the property. I am quite hopeful that ongoing drilling of MT anomalies delineated during the 2016 geophysical survey will continue to find more gold zones.”
Assays have also been received for the first two holes drilled in the 2016 program. The first of these, CB-16-01, was a follow-up of a 2009 drill hole, CB-09-14, which returned 241 meters averaging 0.8 grams gold per ton. Both the 2009 and 2016 holes were drilled in a northwesterly direction from the same site, with CB-09-14 being inclined at -70° and CB-16-01 at -60°.
Hole CB-16-01 returned the following assays to a final depth of 555 meters: from 110 to 330 m, a 210 m interval grading 0.449 g/t gold, including, from 144 to 154 m, a 10 m interval grading 1.857 g/t gold. Below 320 m depth gold values dropped off with some isolated highs as follows: from 442 to 452 m, a 10 m interval averaging 1.478 g/t gold and from 542 to 555 m, a 13 m interval averaging 0.846 g/t gold.
The second hole of 2016, Hole CB-16-02, was drilled 340 meters to the north of CB-16-01 at an azimuth of 046° and an inclination of -72. This hole was drilled to 426 m and encountered two gold-bearing sections: from 202 to 240 m, a 38 m interval averaging 0.516 g/t gold and from 306 to 426 m, a 120 m interval averaging 0.517 g/t gold.
At present there is not enough information to calculate true widths of the mineralization encountered in any of the holes.
Drilling is still continuing on the property and seven holes have been drilled to date.
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. Gold was analyzed by 30 gram fire assay with AA finish. Other elements were analyzed by 38 element ICP-OES following Aqua Regia extraction. Diamond drilling is contracted to More Core Drilling of Stewart, BC.
The qualified person
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 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.
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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 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.