Tudor Gold Reports 337.5m of 0.76 g/t Gold at Treaty Creek, Including 124.5m of 0.98 g/t Gold
Vancouver, British Columbia--(Newsfile Corp. - January 22, 2018) - Tudor Gold Corp. (TSXV: TUD) (FSE: TUC) (the "Company" or "Tudor Gold") is pleased to report continuing results from its 2017 drill program on the Copper Belle zone of the Company's Treaty Creek property in north-western B.C. Assays have been received on three more holes.
CB-17-27, a step-out hole drilled on the Copper Belle zone, intersected various mineralized zones where the most significant was 337.5m of continuous mineralization, grading 0.76 g/tonne gold from 2m to 339.5m depth, including a higher-grade intercept of 124.5m grading 0.98 g/t gold from 53.0 to 177.5m. Hole CB-17-27 was a 602m hole that was collared adjacent to the west side of the Treaty Creek glacier where glacier melt-back has exposed new opportunities for exploration access. Hole CB 17-27 is 81m southeast of CB-16-03 that graded 1.11 g/t Au for 58m from 88 to 146m; and 0.97 g/t Au for 122m from 304 to 426m. Hole CB 16-03 was drilled uphill at a higher elevation. For locations of the other holes in this News Release please see the map.
Drill results for holes CB-17-27, CB-17-28 and CB-17-30 are summarized in the table below:
|Hole-ID||From (m)||To (m)||Interval (m)*||Au (g/t)||Ag (g/t)||Cu (%)|
|CB-17-29||Results Pending; Drilled from same pad as hole CB-17-24|
*True widths of the mineralization have not been determined.
Walter Storm, President and CEO, stated: "As we analyze Treaty Creek from an overview perspective we find a very compelling image. Our discoveries, as expected, are closely related to the now-famous "Red Line" (Triassic/Jurassic contact), as predicted in the seminal research report by British Columbia government geologists Kyba and Nelson. The Sulphurets Fault (coincident with the Red Line) weaves its way for over 20 kms from the southern end where the Kerr, Kerr Deep and Valley of the Kings deposits are located, winding its way northward through the Sulphurets, Mitchell, Snowfields, Iron Cap and Iron Cap Deep discoveries before crossing into Treaty Creek and up to the Copper Belle and GR2 zones. As observed in the Kyba/Nelson research report, major discoveries lie generally within 2 kms of the Red Line and that is the case with all these deposits. There is a 3 km gap between Tudor Gold's Copper Belle discovery and the Seabridge Gold's Iron Cap deposit, in which our magnetotelluric geophysics survey identifies strong anomalous targets that have not yet been drilled. Results from Tudor Gold's drilling in 2017 show that in the Copper Belle zone, gold mineralization is expanding northward and eastward with improving grades, increasing copper and silver credits, not to mention other promising areas within the zone like Hole CB-17-26 which returned 149.1m of 1.78 g/t gold.
The larger regional prolific hydrothermal system which hosts the many gold deposits of Seabridge Gold and Pretium Resources, as well as the gold mineralization currently being drilled on Tudor Gold's Treaty Creek property, is known as one of the seven largest hydrothermal systems in the world for hosting porphyry-type mineral deposits of gold and copper-gold (Alldrick). Moreover, Seabridge Gold's KSM property is currently recognized as hosting the world's largest undeveloped reserves of copper and gold. In close proximity to these reserves are Pretium Resources' very large, porphyry gold Snowfields deposit and its high-grade, Valley of the Kings gold mine, the latter recently having entered into commercial production. This is an excellent area in which to be looking for another "elephant" and early indications are that mineralization continues onto the Treaty property, right past an arbitrary line called a 'claim boundary'."
The Copper Belle 2017 resource delineation program comprised 27 drill holes to depths below 700m (an estimated 13,722m total) and step-outs of 50m where topography permitted. Results for drill hole CB-17-29 are still pending. Drill holes were targeted oblique to the northwesterly plunge of the main mineralized zone. A block of delineated mineralization will form the basis for a preliminary resource estimate. All drill holes were down hole surveyed at 25m stations using a Reflex Multi-shot device.
The Company's 2016 magnetotelluric geophysical survey program ("MT Survey") was effectively utilized as a guide for the drill program. The MT Survey suggests that the mineralization continues to the southwest, toward the Iron Cap deposit of Seabridge Gold Inc. The MT Survey also suggests that the mineralized zone is open along strike and to depth. Tudor Gold's 2017 drill program was located five kilometers north of the Iron Cap deposit and the Company intends to step out to the south in its 2018 program to see if it confirms a relationship between the two areas.
Drill hole samples were assayed by Activation Laboratories Ltd. in Kamloops, 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. Activation Laboratories quality system complies with the requirements for the International Standards ISO 17025: 2005.
The Qualified Person for the Treaty Creek results in this new release is James A. McCrea, P.Geo. for the purposes of National Instrument 43-101. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.
Copper Belle location map at Treaty Creek
To view an enhanced version of the Copper Belle location map at Treaty Creek, please visit:
About Tudor Gold
Tudor Gold is a precious and base metals explorer in British Columbia's Golden Triangle, an area which hosts multiple past-producing mines and several large world class deposits that are approaching potential development. The Company has a 60% interest in both the Electrum and Treaty Creek properties, and a 100% interest in the Mackie, Eskay North, Orion, Fairweather, Delta and the High North properties, all of which are 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:
Tudor Investor Relations:
CHF Capital Markets
Tel: 416-868-1079 x 231
Cautionary Statements regarding Forward-Looking Information
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially.
All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization and geological merits of the Treaty Creek Project and other future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. 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. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Company's expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or 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 actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements.
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.