TUDOR GOLD reports on 2016 Treaty Creek field exploration program
- Planning, development, and commissioning of the physical infrastructure needed for an exploration program,
- Completion of a Magnetotelluric (MT) survey on a portion of the property, and
The early part of the 2016 field season was taken up with creating a base of operations in Stewart, British Columbia and the re-commissioning of the Treaty Creek camp. Two adjacent properties in Stewart were purchased to accommodate offices and staff housing. Those properties are now fully furnished and functioning and they will provide an operational base for future exploration activity. The Treaty Creek camp has been completely rebuilt and expanded to provide an operational base for up to 25 people during future field seasons.
The field-work portion of the MT survey was completed in August 2016. The results gathered from the field were compiled, analyzed, and interpreted in the following months and a report was submitted by Simcoe Geoscience Ltd. in December.
The purpose of the MT survey was to locate otherwise unknown sub-surface anomalies which warrant further investigation through diamond-drilling. The results of the diamond-drilling identify the mineral makeup of the anomalies. Each drill hole thereby provides critical information used to help to interpret and refine the results of the MT survey.
In 2016, the MT survey was completed early enough to allow TUDOR GOLD to drill five holes targeting identified anomalies – the result of those holes are set out below.
The results of the MT survey and 2016 diamond-drilling program have been used to identify further diamond-drilling targets for the 2017 field season.
TUDOR GOLD drilled eight holes on the Treaty Creek claims in 2016. Three holes were drilled on the Copper Belle zone (West side of the Treaty Glacier), and the remaining five holes were drilled on the Treaty Gossan and the Eureka zone (East side of the Treaty Glacier).
The first hole drilled on the Copper Belle zone – CB-16-01 – was undertaken before the completion of the MT survey. The purpose of CB-16-01 was to begin to explore the extent of the mineralization discovered through the American Creek 2009 hole (CB-09-14). The results of hole CB-16-01 were very encouraging and included the following mineralization: 0.449 g/t Au over 210m from 100m to 320m.
Holes CB-16-02 and CB-16-03 were drilled northeast of the known Copper Belle zone targeting anomalies identified by the MT survey. In addition to providing critical information useful for interpreting the MT survey, both holes revealed a new zone of gold-bearing mineralization. Assay results of those holes included the following: Hole CB-16-02 encountered 224m of .403 g/t Au from 202m to the bottom of the hole at 426m. The last 18m averaged 0.883 g/t Au. Hole CB-16-03, collared approximately 550m northeast of the historic Copper Belle Zone, returned 338m of 0.700 g/t Au from 88m to 426m.
Of the five holes drilled on the Treaty Gossan and the Eureka zone, three targeted anomalies identified by the MT survey and the remaining two targeted areas of interest identified by examination of surface exposures. While the three holes targeting the anomalies identified by the MT survey did not disclose significant mineralization, they provided critical information useful for interpreting both the geology and the MT survey. The two further holes, including one in the Eureka zone, also provided critical information useful for interpreting the MT survey and did reveal mineralization as follows: Hole E-16-05 intersected intermittent values from near surface to a depth of 276 metres, including 0.459 g/t Au over 15m from 27m to 42m, 0.473 g/t Au over 16.5m from 172.5m to 189m, and 0.438 g/t Au over 12m from 264m to 276m.
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., and by ALS Minerals of Terrace and Vancouver, B.C. Gold was analyzed by 30 gram fire assay with AA or ICP finish. Other elements were analyzed by 38 element ICP-OES or 35 element ICP-AES following Aqua Regia extraction. Diamond drilling was 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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Cautionary Statements regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including the completion and anticipated results of planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connation thereof.
Such forward-looking information and statements are based on numerous assumptions, including among others, that the Company’s planned exploration activities will be completed in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
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. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and 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 results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.
The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.