TUDOR GOLD Discovers A Significant New Copper-Silver Horizon Within The Goldstorm System And Reports Up To A 24% Increase In Gold-Equivalents From Previously Reported Gold-Only Results At The Treaty Creek Project From Six Drill Holes.
- The largest increase in gold equivalent content to the ‘300 Horizon’ was from GS19-42. The gold-only grade previously reported for the 370.5 m interval was 1.097 gpt Au. After adding the copper-silver mineralization, the gold metal equivalent content has increased to 1.275 gpt Au Eq over the same 370.5 metre interval. This was due mainly to the elevated silver grades.
- Copper grades were very consistent within the ’CS 600 Horizon’. Grades ranged from approximately 0.16% Cu to 0.34% Cu over intervals of 69m to 151.5m in holes GS19-42, 47, 48, 49 and 52. These intercepts led to the largest gold equivalent increases within the Goldstorm System.
- Silver grades averaged as high as 10 gpt within both the ‘300 Horizon’ and the ‘CS 600 Horizon’ and the metal appears to occur throughout the entire Goldstorm System.
Vice President of Project Development, Ken Konkin P.Geo. comments: “The newly discovered copper-rich ‘CS 600 Horizon’ is a very important feature of the Goldstorm System. The presence of copper and silver mineralization gives this discovery a true polymetallic nature yet it remains a gold-dominant project. Copper grades appear to be increasing with depth within the ‘CS 600 Horizon’. In the following weeks our technical team will continue to examine the rest of the drill holes to re-compute the gold-equivalent grades to include copper and silver throughout the entire system.”
Table l provides gold equivalent composites from five drill holes completed on three sections that cut the ‘300 Horizon’ and the ‘CS 600 Horizon’ within the Goldstorm System. Although the sixth hole in this table (CB18-39) did not intersect the ‘CS 600 Horizon’, the Au Eq composite increased the grade of the intercept by over 11% within the ‘300 Horizon’. Sections attached demonstrate that the copper pulse is un-like the main gold mineralization within the ‘300 Horizon’ as the ‘CS 600 Horizon’ appears to be dipping sub-parallel to the main Treaty Thrust Fault (TTF1) shown in section 111+00 NE. The Company’s Press Release dated October 24th provides the drill collar data including drill hole location, elevation, inclination, azimuth and drill hole length.
The 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 at the end of the 2020 field season. Tudor hopes to accomplish as much drilling needed to bring a Measured and Indicated Mineral Resource Estimate forward as quickly as possible.
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. During the following months 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.