Tudor Gold (TSXV: TUD) announced that it is fully funded to execute a significantly larger drilling and exploration program compared to the campaign that was carried out in 2019 at its Treaty Creek project in British Columbia, western Canada.
Tudor has reported that the southern half of the system contains 188m oz gold, 1.2 bn oz silver, 55bn lbs. copper in resources all categories included. In proven and probable reserves, the numbers are 47m oz gold, 214m oz silver, and 10bn lbs copper
Back in December, Tudor raised enough capital which, combined with warrants recently exercised, provided enough cash to execute a fully funded and ambitious drill campaign.
“The Goldstorm system is currently open at depth and along the northeast axis of the mineralized body. The drill program is designed to extend and to explore the limits of the Goldstorm system to the southeast as well as to the northeast and to depth,” Tudor’s VP of project development, Ken Konkin, said in a media statement. “We anticipate drilling approximately 18,000 to 20,000 metres of HQ and NQ diameter core from 7-10 drill platforms with four diamond drill rigs. Compared to the drill program last year (14 diamond drill holes over 9,781.8 meters), the planned 2020 drill program will be much larger.”
According to Konkin, the current known length of the northeast axis of the Goldstorm System is over 850 metres long and the southeast axis is at least 600 metres across, while the system remains open in all directions and to depth.
The executive also said that the best mineralization encountered to date is from the two consecutive 150-metre step-out holes to the northeast: GS-19-42 yielded 0.849 g/t Au Eq over 780 metres with 1.275 g/t Au Eq over 370.5m and GS-19-47 yielded 0.697 g/t Au Eq over 1,081.5 metres with 0.867 g/t Au Eq over 301.5 metres.
Treaty Creek is located 70 kilometres north of the town of Stewart and only 10 kilometres from the former Eskay Creek mine. The property is 60% owned and operated by Tudor Gold, while American Creek and Teuton Resources each have a 20% share.