Tudor Gold Corp. [TSXV: TUD, Frankfurt: TUC] (the “Company” or “Tudor Gold“) is pleased to announce results from two deep vertical diamond drill holes (drilled to a depth of over 1,000m) and four definition drill holes intercepting significant mineralization at the Goldstorm Zone on the Company’s flagship Treaty Creek property, located in the Golden Triangle of Northwestern British Columbia.
Goldstorm Extension
Hole GS19-47 was drilled as a 150m step-out from hole GS19-42 (reported July 30, 2019 averaging 0.683 g/t Au over 780m) and was drilled vertically to a total depth of 1,199m, ending in mineralization. The hole contains strong stockwork with gold-bearing mineralization accompanied by significant base-metal disseminated sulphide mineralization averaging 0.589 g/t Au over 1081.5m including an upper interval of 0.828 g/t Au over 301.5m and a lower interval of 0.930 g/t Au over 207 m. The hole was stopped in mineralization due to the drill rig reaching its depth limitation, however, casing was left in the hole for possible continuation next year.
This 150 meter step-out hole confirms that the Goldstorm system is gaining strength to the northeast. With this strongly mineralized intercept, the Goldstorm Zone has been extended by a total of 300m this year from the best hole drilled in 2018 (CB18-39, averaging 0.981 g/t Au over 563.8m) and has now been traced along strike for over 800 meters.
Goldstorm Definition Drilling
A second deep vertical hole, GS19-48, was drilled to a total depth of 1035m from the same pad as CB18-39 (drilled in 2018). The results exhibit excellent continuity of mineralization between holes and this drill hole returned 0.725 g/t Au over 838.5m, including a near surface interval of 328.5m averaging 1.048 g/t gold Au.
Four footwall definition holes (GS19-43 to GS19-46) drilled on section 109+00 NE, were successful in extending the width of the mineralized zone, to the southeast into the footwall of the controlling fault structure.
• Hole GS19-43 returned an average of 0.566 g/t Au over 493.5m;
• Hole GS19-44 returned an average of 0.807 g/t Au over 267m including 1.065 g/t Au over 150m;
• Hole GS19-45 returned an average of 0.719 g/t Au over 325.5m including 1.000 g/t Au over 173m.
• Hole GS19-46 returned an average of 0.510g/t Au over 594m including 0.734 g/t Au over 162m.
Tudor Gold Exploration Manager, Ken Konkin explains: “Given the success of the two deep drill holes GS19-47 and GS19-48, the Goldstorm System shows no signs of weakening to the northeast and several more drill holes will be required to find the length and depth of this huge gold system. Hole GS19-47 showed a very strong quartz stockwork system and was still in gold values at the end of the 1,199 meter drill hole. The bottom of GS19-47 averages 0.930 g/t Au over 207 meters. This is the first time we’ve seen this strength of gold mineralization at depth. Furthermore a strong copper association was encountered with gold values at depth in both GS19-47 and GS19-48.
A 151.5m zone of 0.22% copper with 0.572 g/t gold was intercepted from 665.0 to 816.5 meters in GS19-47 and a 66.0m zone of 0.35% copper with 0.958 g/t gold was intercepted from 874.5 to 940.5m in GS19-48.
Not only does the Goldstorm Zone remain open at depth and along strike, we are now seeing base-metal associations possibly as part of a zonation within the metal system.”
The following table provides gold composites from the six drill holes completed on three sections that cut the Goldstorm Zone
Table I: Gold Composites for GS19-48 to GS19-43
* True widths of the mineralization have not been determined
Goldstorm Zone Drill Section 109+00 NE, 111+00 NE and 114+00 NE
Section 114+00 NE is a 300 m step-out on strike from 111+00 NE and hole GS19-47 hosts what is now the longest and deepest gold intercept on the project to date.
Section 111+00 NE shows the consistency of the upper horizon gold grades between holes and new depth extension in hole GS19-48.
Section 109+00 NE shows four definition holes drilled this season to better outline the extent of the zone to the southeast.
Goldstorm Zone Plan Map
The Goldstorm Zone now extends more than 800 meters in strike length and remains open along strike to the Northeast and Southwest as well as to depth.
Goldstorm zone drill sections and the plan map are included at the bottom of the news release and on the Company’s website.
The diamond drilling program continues with two drill rigs. Additional results will be announced as they become available.
Walter Storm, President and CEO, stated: “I am very pleased to see that all nine holes drilled have reported very good results and we have not missed on any step-out targets nor any footwall extension holes, they were all hits. These results have proven that we have an excellent understanding of the structure, geology and mineralogy of this massive gold system. I am looking forward to continuing our exploration efforts in order to unlock the full potential of this large gold system.”
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.
Qualified Person
The Qualified Person for this news release for the purposes of National Instrument 43-101 is the Company’s Exploration Manager, 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 60% interest in the Electrum project, earn in options and 100% interests in other prospective projects located in the Golden Triangle area.
“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:
Catalin Kilofliski
Director Corporate Development and Communications
Tel. 604-559-8092
Email: catalin@tudor-gold.com
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.
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.
