VANCOUVER, BC, October 24th, 2019 – Tudor Gold Corp. (TSXV: TUD) (Frankfurt: TUC) (the “Company” or “Tudor Gold“) is pleased to announce the successful completion of the 2019 exploration program at the Goldstorm Zone on the Company’s Treaty Creek property, which totalled 9,781.8 meters within 14 diamond drill holes. This year’s drilling program generated the best near-surface results attained to date on the project. As well as several hundred meters extension along strike to the northeast, the drilling has significantly expanded the mineralized limits to the southeast, where one of the best near-surface intervals averaged 2.006 g/t Au over 87m, within 336 m averaging 1.004 g/t Au in hole GS19-52.
The results of the five final holes are reported below. Hole GS19-49 was drilled to 960.1 m, at -80° dip, on Section 111+00 NE next to the previously announced vertical hole GS19-48, which yielded 0.725 g/t Au over 838.5m, including an upper horizon that averaged 1.048 g/t gold Au over 328.5 m. Hole GS19-49 returned equally impressive results with a comparable 0.696 g/t Au over 826.5 m and the upper horizon averaging 0.998 g/t Au over 249 m. Along the same section, hole GS19-52 (-50° dip at 115° azimuth) was drilled much longer than expected because the Goldstorm System continues at least 700 m to the southeast ; GS19-52 averaged 1.004 g/t gold over 336 meters with a higher grade core of 2.006 g/t gold over 87 meters within the upper horizon.
Tudor Gold Exploration Manager, Ken Konkin explains: “Clearly the results of the previously reported deep vertical step-out holes demonstrate the impressive size and grade consistency of the Goldstorm system. Within the overall mineralized package of fragmental intermediate volcanic rocks there are several sub-horizontal horizons of significantly higher gold grades. The uppermost portions of the previously reported holes GS19-42, GS19-47 and GS19-48 contained respectively, 1.268 g/t gold over 252 m, 0.828 g/t gold over 301.5 m and 1.048 g/t gold over 328.5 m. We now have several other drill holes with excellent near-surface gold values to add to this list of growing intercepts. GS19-52 has returned the highest core gold grades of 2.006 g/t Au over 87 m within a 336m intercept of 1.004 g/t Au. These intercepts are part of the uppermost portion of the Goldstorm system which we refer to as the ‘300 Horizon’. The ‘300 Horizon’ remains open along strike to the northeast as well as to the southeast. In addition, the lower horizons of the Goldstorm system also remain open in all directions and the lowest horizon is open at depth.”
Furthermore, Mr. Konkin adds “We are seeing consistent silver and copper mineralization associated with the deeper gold horizons such as the previously reported 151.5 m zone of 0.572 g/t gold, 8.5 g/t silver and 0.21% copper that was intercepted from 665.0 to 816.5 m in GS19-47 and a 66.0 m zone with 0.958 g/t gold, 3.9 g/t silver and 0.35% copper, which was intercepted from 874.5 to 940.5 m in GS19-48. Similarly, we have now seen in GS19-49, a 78 m intercept averaging 1.145 g/t gold, 11.2 g/t silver and 0.21% copper (750-828 m) and in GS19-52 an 88.5 m interval averaging 0.352 g/t gold, 9.3 g/t silver and 0.25% copper (515-603.5 m).
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 hydrothermal system.”
The final three footwall extension holes (GS19-50, GS19-51 and GS19-53) were completed on section 110+00 NE. These were successful in extending the width of the mineralized zone to the southeast:
- Hole GS19-50 returned an average of 602 g/t Au over 577.5 m including 0.811 g/t Au over 267.0 m in the ‘300 Horizon’.
- Hole GS19-51 returned an average of 721 g/t Au over 246 m in the ‘300 Horizon’ and a lower horizon that averages 1.017 g/t Au over 40.5 m.
- Hole GS19-53 returned an average of 984 g/t Au over 147.0 m in the ‘300 Horizon’. GS19-53 was stopped in gold mineralization due to inclement end-of-season weather.
Table l provides gold composites from five drill holes recently completed on two sections that cut the Goldstorm Zone and Table ll provides the drill collar data, including drill hole location, elevation, inclination, azimuth and hole length. Results for other holes on the sections have been reported previously.
Table l: Gold Composites GS19-49 to GS19-53
|Section||Drill Hole||From (m)||To (m)||Intercept (m)||Gold Grade (gpt)|
|GS19-53**||drill hole stopped in mineralization, to be completed in 2020|
* All assay values are uncut and intervals reflect drilled intercept lengths.
* True widths of the mineralization have not been determined
*HQ and NQ2 diameter core samples were sawn in half and typically sampled at standard 1.5m intervals.
Table ll: Drill Hole Data
|Section||Drill Hole||N_ N83_Z9||E_N83_Z9||ELEV_m||Azimuth||Inclination||DEPTH(m)|
The updated Goldstorm Zone Sections 110+00 NE and 111+00 NE as well as the DDH Plan map are included at the bottom of the news release and on the Company’s website.
Walter Storm, President and CEO, stated: “I am very pleased that the safe and successful 2019 exploration program has concluded on such a positive note. All 14 exploration drill holes hit their targets and they all returned very good results. The consistency of the mineralized intercepts from hole to hole is equally impressive. This years’ drill program has vastly increased the known size of the Goldstorm mineralized body but further drilling is essential to define the full length, width and depth of the system which still remains open in all directions.”
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 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.
President and Chief Executive Officer
For further information, please visit the Company’s website at www.tudor-gold.com or contact:
Director Corporate Development and Communications
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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.