TUDOR GOLD Corp. reports gold equivalent results for all drill holes at the Company's flagship Treaty Creek Project.
P&E Mining Consultants Inc. provides drill hole spacing recommendation for the 2020 drill plan at the Treaty Creek Project
- The strongest AuEq increase was seen in the newly discovered NE Extension within the 300 Horizon. The gold-only result of 1.27 gpt Au over a 252 metre (m) interval increased to 1.51 gpt AuEq (with 13.8 gpt Ag and 504 ppm Cu), an increase of 18.9%.
- All drill holes at Goldstorm Zone had significant increases to the composite results when the AuEq values for the copper and silver mineralization were included however when the drill holes intersected the CS-600 Horizon, the copper values within this mineralized body had the greatest impact to an individual horizon with up to 79.8% increase to the AuEq value from a gold-only 0.39 gpt Au over 150m to 0.70 gpt AuEq over the same 150m interval.
- P&E Mining Consultants Inc. were retained to assess all Goldstorm drill hole results and historical data in order to render an opinion as to the consistency of the gold mineralization as well to ascertain the recommended drill hole spacing that would be required to potentially derive a Indicated Mineral Resource and a Measured Mineral Resource. P&E Mining Consultants Inc. concluded the following:
- “Three dimensional continuity analyses of the Treaty Creek drill hole assay results were carried out for the Goldstorm Zone. The regional geological trend was used to guide the selection of horizontal, across-strike, and dip-plane directions during variogram fan analysis. Variogram fans were generated separately for Ag, Au, Cu, Pb, and Zn uncapped composite samples in each zone.
- All modeled semi-variograms display a very low nugget effect, and display long range continuity down the plunge of the mineralization and along the regional strike of the deposits.
- For the Goldstorm Zone, a drill spacing of 200 m is recommended for Indicated Mineral Resources, and 100 m for Measured Mineral Resources.”
- The Company’s goal is to design a diamond drill hole program that will fast-track the exploration program for 2020 with the objective to begin the Mineral Resource Estimate work as soon as possible.
Vice President of Project Development, Ken Konkin P.Geo. comments: “We are very encouraged to see that the silver and copper mineralization has made an important impact to the AuEq results from our recent drilling as well as the historical drilling. The next step is to plan the drill hole program for the 2020 exploration season. We continue to work with our Mineral Resource Estimate geologists and engineers from P&E Mining Consultants to plan the drill hole program in order to optimize the drilling and to attempt to fast-track the exploration program for this coming drill season.”
Table l provides gold equivalent composites from the 2019 drilling and all historical drilling within the Goldstorm Zone. Table ll contains the drill data including collar location, depth of drill hole as well as the dip and azimuth for all drill hole.
Walter Storm, President and CEO, stated: “These new gold equivalents are extremely encouraging as our technical team continues to take positive steps advancing Tudor Gold’s flagship Treaty Creek Au-Ag-Cu project. Furthermore we received good news from P&E Mining Consultants Inc. that the drill hole spacing required to derive a Measured Resource is 100 meters due to the homogenous nature of the AuEq composites obtained to-date. During the new few weeks, our geologist and engineers will continue to work with the geological model and begin to prepare the diamond drill hole proposal for 2020.”
Drill core samples were prepared at MSA Labs’ Preparation Laboratory in Terrace, BC and assayed at MSA Labs’ Geochemical Laboratory in Langley, BC. Analytical accuracy and precision are monitored by the submission of blanks, certified standards and duplicate samples inserted at regular intervals into the sample stream by Tudor Gold personnel. MSA Laboratories quality system complies with the requirements for the International Standards ISO 17025 and ISO 9001. MSA Labs is independent of the Company.
The Qualified Person for this news release for the purposes of National Instrument 43-101 is the Company’s Vice President of 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.