VANCOUVER, BC, August 30th, 2021 – Tudor Gold Corp. (TSXV: TUD) (Frankfurt: TUC) (the “Company” or “Tudor Gold“) is pleased to present the second set of results from the 2021 resource expansion and definition drilling program for the Goldstorm Deposit at their flagship property, Treaty Creek. The project is located in the heart of the Golden Triangle of northwestern British Columbia and is on-trend from Seabridge’s KSM Project located five kilometers southwest of the Goldstorm Deposit. Exploration at Treaty Creek is ongoing at Goldstorm and Eureka zones with six diamond drills now fully crewed. Results have recently been received from MSA Labs for nine diamond drill holes, which are presented below.
Treaty Creek, Drilling Highlights include:
- An exceptional extension of the 300 Horizon and CS600 to the northeast in hole GS-21-113 that contains 972.0 meters (m) of 1.265 g/t AuEq including 456.0 m of 1.352 g/t AuEq in the 300 Horizon and 405.0 m of 1.439 g/t AuEq in CS-600.
- Strong, consistent mineralization in GS-21-112 which further extends DS-5 to the northwest with 219.0 m of 1.287 g/t AuEq including 79.5 m of 2.079 g/t AuEq or 156.0 m of 1.557 g/t AuEq.
- Mineralization of the 300 Horizon in GS-21-111 totals 613.5 m of 0.869 g/t AuEq, which included an enriched section of 120.0 m averaging 1.974 g/t AuEq within 351.0 m of 1.253 g/t AuEq.
- Near-surface gold mineralization continues along the SW trend for over a kilometer at Perfect Storm as PS-21-06 encountered 118.6 m of 0.721 g/t AuEq including 59.9 m of 0.927 g/t AuEq. The mineralized system appears to be gaining strength towards the Iron Cap Deposit approximately three kilometers to the southwest.
- Strong copper mineralization was observed within CS-600 domain in GS-21-113 with 405 m averaging 0.618% Cu (6179 ppm Cu), with an enriched zone of 273 m averaging 0.845% Cu (8436 ppm Cu).
- Goldstorm Deposit remains open in all directions and at depth as drilling continues.
Tudor Gold’s Vice President of Exploration and Project Development, Ken Konkin, P.Geo., states: “We are extremely pleased with our continued success with our step-out drilling. Our goal is to find the limits to the Goldstorm Deposit and to advance the resources from our Initial Mineral Resource Estimate of 19.41 million gold equivalent (AuEq) ounces of Measured and Indicated grading 0.74 g/t AuEq and 7.9 million AuEq ounces of Inferred grading 0.79 g/t AuEq. We continue to intercept exceptional mineralization within the defined domains and consistently identify extensions to these domains particularly to the northeast and northwest as well as at depth. Due to the recent success with the Goldstorm results, drilling at the Perfect Storm Zone has been delayed as all drills are now required at Goldstorm to attempt to complete the planned drilling. As well, once we finish the current drill hole in progress at Eureka, that rig will be moved to Goldstorm to continue the step-out drilling to the northeast. We are very excited with the results from PS-21-06 at the Perfect Storm Zone as we again encountered significant near-surface gold mineralization, with 118.6 meters averaging 0.721 g/t AuEq, containing an uppermost portion averaging 0.927 g/t AuEq over 59.9 meters. We will plan for continued drilling at Perfect Storm once we delineate the northeastern limits to the Goldstorm Deposit. All three wide-spaced drill holes hit significant gold mineralization at Perfect Storm and have indicated gold mineralization along the SW axis for more than a kilometer. Only a very small portion of the Perfect Storm magnetic anomaly has been tested.”
Walter Storm, President and CEO, states: “We are very excited to see the continuation of these exceptional drill results from our resource definition and exploration drilling program at Goldstorm. The northeastern step-out drilling of the 300 Horizon, CS-600 and DS-5 domains continues to demonstrate the robust nature of the Goldstorm Deposit. We continue to expand the size of the deposit with some of the best gold and copper results obtained to-date on the project. We expect this to translate to an upgrade of our mineral resource estimate. The results at Perfect Storm are very encouraging as well, since all three, 300-meter step-out holes hit a portion of the mineralized system. The potential for discovery of yet another large gold system at Perfect Storm remains great and our aggressive 300-meter step-out drilling to the southwest will continue as soon as we can add to our drilling personnel.”
The complete list of composited drill hole results as well as the drill hole data including hole location, elevation, depth, dip and azimuth are provided in Table 1 and Table 2, respectively. Please click on the following link to view: Plan Map and Cross Sections for the drill holes reported in this news release.
Table l: Results Goldstorm Zone and Perfect Storm Zone Press Release August 30th, 2021
| Section | Hole | Zone | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu ppm | AuEQ (g/t) |
| A – 320 | GS-21-106* | 300H | 73.50 | 93.00 | 19.50 | 0.754 | 2.81 | 423 | 0.792 |
| 300H | 177.00 | 214.50 | 37.50 | 0.441 | 2.37 | 159 | 0.487 | ||
| 300H | 291.00 | 429.00 | 138.00 | 0.488 | 2.10 | 101 | 0.525 | ||
| including | 300.00 | 343.50 | 43.50 | 0.551 | 3.14 | 211 | 0.613 | ||
| AND | 390.00 | 427.50 | 37.50 | 0.639 | 3.11 | 47 | 0.681 | ||
| A – 320 | GS-21-106-W1 | 300H | 0.00 | 354.00 | 354.00 | 0.717 | 2.06 | 169 | 0.761 |
| including | 106.50 | 316.50 | 210.00 | 0.868 | 2.02 | 124 | 0.906 | ||
| AND | 220.50 | 316.50 | 96.00 | 1.258 | 2.40 | 147 | 1.304 | ||
| B – 320 | GS-21-111 | 300H | 193.50 | 807.00 | 613.50 | 0.802 | 2.75 | 299 | 0.869 |
| including | 324.00 | 675.00 | 351.00 | 1.154 | 4.32 | 409 | 1.253 | ||
| AND | 325.50 | 445.50 | 120.00 | 1.831 | 4.50 | 772 | 1.974 | ||
| CS600 | 1123.50 | 1210.50 | 87.00 | 0.609 | 2.32 | 2315 | 0.910 | ||
| DS5 | 1317.00 | 1398.00 | 81.00 | 0.606 | 1.57 | 209 | 0.649 | ||
| 116+50 NE | GS-21-112 | DS5 | 858.00 | 1077.00 | 219.00 | 1.115 | 11.70 | 295 | 1.287 |
| including | 891.00 | 1047.00 | 156.00 | 1.383 | 11.88 | 298 | 1.557 | ||
| AND | 967.50 | 1047.00 | 79.50 | 1.831 | 16.57 | 439 | 2.076 | ||
| 116+50 NE | GS-21-113 | 300H + CS600 | 255.00 | 1227.00 | 972.00 | 0.91 | 3.66 | 2647 | 1.265 |
| including | 255.00 | 711.00 | 456.00 | 1.301 | 3.34 | 101 | 1.352 | ||
| AND | 552.00 | 699.00 | 147.00 | 2.555 | 7.04 | 78 | 2.646 | ||
| including | 822.00 | 1227.00 | 405.00 | 0.654 | 4.64 | 6179 | 1.439 | ||
| AND | 892.50 | 1165.50 | 273.00 | 0.771 | 5.50 | 8436 | 1.833 | ||
| B – 320 | GS-21-115 | 300H | 114.50 | 254.00 | 139.50 | 0.557 | 1.85 | 98 | 0.590 |
| including | 210.50 | 254.00 | 43.50 | 0.682 | 3.34 | 145 | 0.738 | ||
| 402.50 | 852.50 | 450.00 | 0.644 | 2.85 | 122 | 0.691 | |||
| including | 402.50 | 512.00 | 109.50 | 1.078 | 3.41 | 220 | 1.144 | ||
| AND | 612.50 | 659.00 | 46.50 | 0.98 | 1.54 | 114 | 1.012 | ||
| AND | 819.50 | 852.50 | 33.00 | 1.007 | 2.44 | 89 | 1.046 | ||
| 83+00 NE | PS-21-04 | 174.00 | 193.50 | 19.50 | 0.532 | 1.06 | 124 | 0.559 | |
| AND | 244.50 | 258.00 | 13.50 | 0.131 | 1.68 | 1291 | 0.303 | ||
| AND | 340.50 | 356.75 | 16.25 | 0.322 | 1.21 | 128 | 0.351 | ||
| 80+00 NE | PS-21-05 | 105.00 | 142.50 | 37.50 | 0.291 | 0.879 | 59.66 | 0.308 | |
| AND | 241.50 | 259.50 | 18.00 | 0.292 | 1.36 | 123 | 0.322 | ||
| AND | 277.50 | 291.00 | 13.50 | 0.297 | 0.98 | 149 | 0.327 | ||
| 77+50 NE | PS-21-06 | 43.60 | 162.20 | 118.60 | 0.664 | 3.96 | 95 | 0.721 | |
| including | 43.60 | 103.50 | 59.90 | 0.844 | 6.09 | 105 | 0.927 | ||
| AND | 310.70 | 329.50 | 18.80 | 0.486 | 2.91 | 266 | 0.552 | ||
| AND | 390.00 | 421.50 | 31.50 | 0.957 | 2.50 | 442 | 1.039 | ||
| * Hole shut down due to deviation and wedged to reach target (GS-21-106-W1)All assay values are uncut and intervals reflect drilled intercept lengths.HQ and NQ2 diameter core samples were sawn in half and typically sampled at standard 1.5m intervalsThe following metal prices were used to calculate the Au Eq metal content: Gold $1625/oz, Ag: $19/oz, Cu: $2.8/lb. Calculations used the formula Au Eq g/t = (Au g/t) + (Ag g/t x 0.01169) + (Cu% x 1.1815). All metals are reported in USD and calculations do not consider metal recoveries.True widths have not been determined as the mineralized body remains open in all directions. Further drilling is required to determine the mineralized body orientation and true widths. | |||||||||
Table 2: Drill data for holes in Press Release August 30th, 2021
| Section | Hole ID | UTM E NAD 83 | UTM N NAD 83 | Elevation (m) | Azi (ᵒ) | Dip (ᵒ) | Depth (m) |
| A – 320 | GS-21-106 | 428354.6 | 6272668.5 | 1301.3 | 295 | -50 | 429 |
| A – 320 | GS-21-106-W1 | 428193.4 | 6272743.6 | 1060.9 | 300 | -53 | 972 |
| B – 320 | GS-21-111 | 428417.6 | 6272839.1 | 1323.4 | 300 | -70 | 1431 |
| 116+50 NE | GS-21-112 | 429083.6 | 6273171.3 | 1223.9 | 295 | -88 | 1107 |
| 115+50 NE | GS-21-113 | 428781.3 | 6273288.3 | 1344.9 | 295 | -65 | 1500.55 |
| B – 320 | GS-21-115 | 428417.3 | 6272839.3 | 1323.4 | 300 | -60 | 895.7 |
| 83+00 NE | PS-21-04 | 427014.6 | 6270585.7 | 1530.8 | 295 | -88 | 531 |
| 80+00 NE | PS-21-05 | 426695.7 | 6270400.6 | 1562.0 | 295 | -88 | 525 |
| 77+50 NE | PS-21-06 | 426388.3 | 6270330.0 | 1609.8 | 295 | -88 | 522 |
Tudor Gold Corp. and our associated service companies have taken extreme measures to maintain the highest professional standards while working within COVID-19 health and safety protocols. Only essential personnel are permitted to enter the camp and staging areas. Of those workers who are at the project site and staging site, we have strict daily monitoring of the workers temperatures and general health conditions. We have a certified paramedic at the staging area to examine all in-coming and out-going Tudor personnel and all service providers.
The Company also reports that further to its news release dated June 22, 2021, Tudor Gold has closed its non-brokered private placement ( the “Private Placement”) in the reduced amount of 426,500 flow-through common shares (the “FT Shares”) at a price of $3.60 per FT Share and 1,200,000 non-flow-through common shares (the “NFT Shares”) at a price of $3.00 per NFT Share, for aggregate gross proceeds of $5,135,400.
Net proceeds of the Private Placement will be used to advance exploration of the Treaty Creek Project as well as for general working capital purposes.
All securities issued pursuant to the Private Placement are subject to a statutory four-month hold period. The Private Placement is subject to receipt of final approval of the TSX Venture Exchange.
In connection with the Private Placement, the Company has paid a cash finder’s fee to certain finders in the amount of $91,670.40. The Company has also issued 16,976 finder’s warrants (the “Finder’s Warrants”), with each Finder Warrant entitling the holder thereof to purchase one NFT Share in the capital of the Company (each, a “Warrant Share”) at an exercise price of $3.60 per Warrant Share for up to 12 months from the date of issuance.
The securities being offered under the private placement have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.
Qualified Person
The Qualified Person for this news release for the purposes of National Instrument 43-101 is the Company’s Vice President of Exploration and 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.
QA/QC
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.
ON BEHALF OF THE BOARD OF DIRECTORS OF
TUDOR GOLD CORP.
“Walter Storm”
Walter Storm
President and Chief Executive Officer
For further information, please visit the Company’s website at www.tudor-gold.com or contact:
Chris Curran
Head of Corporate Development and Communications
Phone: (604) 559 8092
E-Mail: chris.curran@tudor-gold.com
or
Carsten Ringler
Head of Investor Relations and Communications
Phone: +49 151 55362000
E-Mail: carsten.ringler@tudor-gold.com
