Tudor Gold Confirms Presence of Substantial New Gold Zone at Treaty Creek Property in Golden Triangle
TSX VENTURE: TUD
Vancouver, British Columbia--(Newsfile Corp. - January 31, 2019) - Tudor Gold Corp. (TSXV: TUD) (FSE: TUC) (the "Company" or "Tudor Gold") is pleased to announce the designation of the new gold zone at Treaty Creek which has been named "Goldstorm". It was previously thought that gold mineralization identified by drilling northeast of the Copper Belle Zone was simply a northeast extension of that same zone, but after evaluating drill hole data from holes completed in 2016, 2017 and 2018, it appears that the mineralization encountered to the northeast of Copper Belle has different characteristics, configuration and geometry. While it is unclear whether the zones are genetically linked, these zones are physically separate. The surface drill hole location map at the end of this news release shows the location of both gold zones.
Tudor Gold Exploration Manager, Ken Konkin explains: "Goldstorm is a much larger system than Copper Belle, it is at least 300m wide and extends vertically for over 700m. The zone has been traced for approximately 500 meters along a northeastern azimuth. Gold mineralization appears to be continuing towards the northeast and southeast and clearly becomes stronger in the northernmost hole, CB18-39 which returned 563.8 meters of 0.981 grams per tonne gold. The upper portion of CB18-39 averaged 1.141 gpt gold over 280.5 meters and a lower zone in the same hole averaged 1.154 grams per tonne gold over 156 meters. This hole bottomed in mineralization and we will look at the option of re-entering the hole this year in attempts to extend the mineralization deeper. But the primary focus will be to extend the Goldstorm Zone along strike to the northeast and to the southeast as well.
Over the coming months, we hope to gain a better understanding of aspects that control gold mineralization. Re-examination of drill hole information has revealed the presence of a northwest dipping thrust fault that appears to define the upper contact of the Goldstorm system. The relationship of this fault to the formation of the mineral zone is an aspect of further study, as are the various styles of sulphide mineralization, silicification and alteration. Compilation and evaluation of this data will help in planning for the drilling campaign to be undertaken in the up-coming exploration season."
The following table gives gold composite values over broad intervals from four drill hole sections that cut the Goldstorm Zone, incorporating results from diamond drill holes completed during 2016, 2017 and 2018. Low-grade gold mineralization occurs as a broad envelope which contains a horizon of stronger gold mineralization in the upper portion of the system. Furthermore, the drill hole sections demonstrate what appears to be the presence of a second, lower gold horizon. The corresponding sections 108+00 NE, 109+00 NE, 110+00 NE and 111+00 NE are displayed at the end of this news release.
Table I: Sections 108+00NE, 109+00NE, 110+00NE and 111+00NE Gold Composites
|To (m)||Intercept (m)||Gold Grade (gpt)|
DDH's CB17-06, CB17-07, CB17-09 and CB18-39 all ended in significant gold mineralization
* All assay values are uncut and intervals reflect drilled intercept lengths.
* True widths of the mineralization have not been determined.
In 2016 and 2017, drill core samples were prepared and analyzed at Activation Laboratories Ltd. in Kamloops, BC. In 2018, drill core samples were prepared ALS Global's Preparation Laboratory in Terrace, BC and assayed at ALS Global's Geochemical Laboratory in North Vancouver, 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 and ALS Global Laboratories quality systems comply with the requirements for the International Standards ISO 17025: 2005.
The Qualified Person for this new 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 in British Columbia's Golden Triangle, an area that hosts past-producing mines and several large deposits that are approaching potential development. The 17,913 hectare Treaty Creek project (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, and a 100% interest in the 18,300 hectare Crown project, all of which are located in the Golden Triangle area.
President and Chief Executive Officer
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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 including, without limitation, statements relating to the Goldstorm Zone as well as any 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. 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. 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.