Tudor Gold Discovers New Gold System at the Perfectstorm Zone, Treaty Creek Gold-Copper-Silver Project
Drills 102.15 m of 1.28 g/t AuEQ in Drill Hole PS-23-10 Including 42.5 m of 1.87 g/t AuEQVancouver, October 31, 2023 - Tudor Gold Corp. (TSXV: TUD) (FSE: H56) (the "Company" or "Tudor Gold") is pleased to present the fourth set of drill results for the 2023 exploration program (the "Program") at their flagship property, Treaty Creek, located in the heart of the Golden Triangle of Northwestern British Columbia.
The Company has safely and successfully completed the 2023 drilling program with a total of 31,904 meters (m) drilled within areas encompassing the Goldstorm Deposit and the Perfectstorm Zone. The assay results reported in this release are from six drill holes that targeted both the southwestern and the northeastern areas of the Perfectstorm Zone (PSZ) located approximately 1500 m apart. Click to view plan map and cross sections.
Ken Konkin, President and CEO, comments: "Tudor Gold's technical team has done an outstanding job with this year's drill program at Treaty Creek. Not only have we significantly expanded the known boundaries of the Goldstorm Deposit, but we have also successfully confirmed the existence of the Perfectstorm System with holes that are spaced over a distance of 1,500 meters. We believe that we have intersected the upper extremity of yet another porphyry system that lies approximately two kilometres southwest of our Goldstorm Au-Cu-Ag Deposit. Typically, copper mineralization is encountered deeper within the known deposits along the Sulphurets-Treaty Thrust Fault trend. Our intersections reported in this news release occur much higher in elevation than the copper-rich zones encountered at Goldstorm. We have observed gold and silver-dominant mineralization in the uppermost parts of the southwestern holes of the Perfectstorm System with copper mineralization occurring in the deeper parts of the northeastern holes. Our current geological interpretation is that the system lies peripheral to the intense magnetic anomaly that has been detected under the Treaty Glacier to the southeast of the drill holes. Previous drilling undertaken between the two areas reported in this news release may have been on the periphery of stronger mineralization, such as that which we discovered in drill hole PS-23-10. Previous holes were oriented to the northwest, whereas those holes drilled this year in the opposite direction have revealed wider and more strongly mineralized intervals, such as 1.28 g/t AuEQ (1.23 g/t Au, 3.43 g/t Ag, 0.01 % Cu) over 102.15 meters in PS-23-10. The upper 42.5 meters of this intercept yielded 1.87 g/t AuEQ (1.80 g/t Au, 5.76 g/t Ag, 0.02 % Cu). The Perfectstorm system adds a new dimension to the geological potential of the Treaty Creek Project with the addition of yet another bulk-tonnage Au-Cu-Ag target. Included in the impressive intercepts were some high-grade gold-silver veins that are interpreted as late-stage overprinted mineralization, similar to that observed at the Goldstorm Deposit throughout the 300H and CS-600 domains. Grades as high as 444.0 g/t silver and 24.7 g/t gold were intersected over 1.5 m intervals within holes PS-23-07 and PS-23-10 respectively. We are very excited in our anticipation of yet another potentially massive bulk tonnage Au-Cu-Ag system, with high-grade Au-Ag overprinting, on our exploration horizon."
Section A (Northeast PSZ)
- PS-23-11: Drilled on section with the original 2020 PSZ drill holes, PS-20-01 and PS-20-02, to explore the down dip projection of the open mineralized trend. A new gold-bearing zone was intersected near surface returning 136.0 m of 0.71 g/t AuEQ (0.69 g/t Au, 1.26 g/t Ag), that included 23.4 m of 1.75 g/t AuEQ (1.74 g/t Au, 0.90 g/t Ag), as well as 20.1 m of 1.34 g/t AuEQ (1.30 g/t Au, 4.21 g/t Ag). Further downhole, porphyry mineralization that had been observed in the 2020 holes was encountered, extending the lower zone 200 m to the northwest with an interval of 138.95 m of 0.52 g/t AuEQ (0.43 g/t Au, 4.99 g/t Ag, 0.04 % Cu).
- PS-23-12: Drilled in the opposite direction along the same section line to continue exploring the lower porphyry gold-silver-copper zone. This hole intersected 122.0 m of 0.71 g/t AuEQ (0.61 g/t Au, 2.96 g/t Ag, 0.06 % Cu), including an enriched interval of 10.5 m of 3.07 g/t AuEQ (2.63 g/t Au, 3.68 g/t Ag, 0.34 % Cu). This intercept is located 150 m to the southeast from the 2020 drill holes and expands the lower NE PSZ mineralization to a drilled length of 500 m.
Section B (Southwest PSZ)
-
PS-23-07: Drilled as a 400 m step-out from 2021 PSZ drill hole PS-21-06, to continue exploring and expanding the system to the southwest. This drill hole intersected intermittent mineralized quartz-carbonate veins in the upper part, followed by a 27.0 m wide mineralized shear zone, from 541.0 to 568.0 m down hole, which assayed 1.34 g/t AuEQ (1.02 g/t Au, 30.13 g/t Ag, 0.02 % Cu). One 1.5 m sample returned 444.0 g/t Ag with native silver observed in the drill core.
-
PS-23-08: Drilled on the same section to explore to the northwest and to define the stratigraphy and structures of the area. This drill hole intersected multiple mineralized vein zones, two of which returned 15.0 m of 1.19 g/t AuEQ (1.15 g/t Au, 2.83 g/t Au, 0.02 % Cu), and 9.0 m of 0.93 g/t AuEQ (0.90 g/t Au, 1.66 g/t Ag, 0.01 % Cu) at a shallow depth of 154.5 m down hole.
-
PS-23-09: Drilled to further define the vein zones and structures observed in hole PS-23-08. Multiple mineralized zones were intersected, including 18.0 m of 0.98 g/t AuEQ (0.96 g/t Au, 1.84 g/t Ag, 0.01 % Cu), and 33.0 m of 0.77 g/t AuEQ (0.74 g/t Au, 1.63 g/t Ag, 0.01 % Cu).
-
PS-23-10: Drilled at a relatively shallow dip to the south to explore for extension of the mineralized zone encountered in drill hole PS-23-07. This hole intersected 102.15 m of 1.28 g/t AuEQ (1.23 g/t Au, 3.43 g/t Ag, 0.01 % Cu) including two enriched zones comprising 42.5 m of 1.87 g/t AuEQ (1.80 g/t Au, 5.76 g/t Ag, 0.02 % Cu), and 25.5 m of 1.60 g/t AuEQ (1.58 g/t Au, 1.81 g/t Ag, 0.01 % Cu). Further downhole a high-grade vein zone was intersected and returned 1.5 m of 24.70 g/t gold. These results are the highest gold grades seen at PSZ to date and they are located between the Goldstorm Deposit, 3 km to the northeast, and Seabridge Gold's Iron-Cap Deposit, 2.5 km to the southwest.
Table 1: Drilling Results for Perfectstorm Zone in Press Release October 31, 2023
| Section | Hole | Zone | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu (%) | AuEQ (g/t) |
| SW PSZ | PS-23-07 | 118.00 | 130.00 | 12.00 | 0.78 | 1.36 | 0.01 | 0.81 | |
| And | 430.00 | 445.00 | 15.00 | 1.00 | 4.61 | 0.01 | 1.06 | ||
| And | 541.00 | 568.00 | 27.00 | 1.02 | 30.13 | 0.02 | 1.34 | ||
| Including | 556.00 | 557.50 | 1.50 | 4.85 | 444.00 | 0.02 | 9.25 | ||
| PS-23-08 | 154.50 | 169.50 | 15.00 | 1.15 | 2.83 | 0.01 | 1.19 | ||
| And | 192.00 | 201.00 | 9.00 | 0.90 | 1.66 | 0.01 | 0.93 | ||
| And | 340.50 | 373.50 | 33.00 | 0.50 | 7.37 | 0.04 | 0.62 | ||
| PS-23-09 | 237.00 | 255.00 | 18.00 | 0.96 | 1.84 | 0 | 0.98 | ||
| And | 342.00 | 375.00 | 33.00 | 0.74 | 1.63 | 0.01 | 0.77 | ||
| Including | 342.00 | 348.00 | 6.00 | 2.18 | 2.69 | 0.01 | 2.22 | ||
| And | 411.00 | 418.50 | 7.50 | 1.40 | 33.02 | 0.15 | 1.90 | ||
| Including | 415.50 | 417.00 | 1.50 | 3.78 | 99.14 | 0.24 | 5.04 | ||
| PS-23-10 | 334.00 | 435.00 | 102.15 | 1.23 | 3.43 | 0.01 | 1.28 | ||
| Including | 334.00 | 376.50 | 42.50 | 1.80 | 5.76 | 0.02 | 1.87 | ||
| Including | 335.00 | 336.50 | 1.50 | 22.20 | 46.81 | 0.04 | 22.70 | ||
| and including | 406.50 | 432.00 | 25.50 | 1.58 | 1.81 | 0.01 | 1.60 | ||
| And | 610.50 | 612.00 | 1.50 | 24.70 | 0.87 | 0 | 24.71 | ||
| NE PSZ | PS-23-11 | 101.00 | 237.00 | 136.00 | 0.69 | 1.26 | 0 | 0.71 | |
| Including | 101.00 | 124.40 | 23.40 | 1.74 | 0.90 | 0 | 1.75 | ||
| Including | 111.00 | 115.63 | 4.63 | 5.47 | 1.89 | 0 | 5.49 | ||
| and including | 205.50 | 225.60 | 20.10 | 1.30 | 4.21 | 0 | 1.34 | ||
| And | 390.50 | 529.45 | 138.95 | 0.43 | 4.99 | 0.04 | 0.52 | ||
| Including | 408.90 | 438.00 | 29.10 | 0.38 | 4.33 | 0.11 | 0.55 | ||
| and including | 472.50 | 489.75 | 17.25 | 0.73 | 13.43 | 0.04 | 0.92 | ||
| PS-23-12 | 228.00 | 350.00 | 122.00 | 0.61 | 2.96 | 0.06 | 0.71 | ||
| Including | 232.50 | 308.60 | 76.10 | 0.77 | 4.12 | 0.08 | 0.91 | ||
| Including | 232.50 | 243.00 | 10.50 | 2.63 | 3.68 | 0.34 | 3.07 | ||
| Including | 237.00 | 238.50 | 1.50 | 15.10 | 10.25 | 0.32 | 15.58 |
- All assay values are uncut and intervals reflect drilled intercept lengths.
- HQ and NQ2 diameter core samples were sawn in half and typically sampled at standard 1.5 m intervals.
- The following metal prices were used to calculate the Au Eq metal content: Gold $1800/oz, Ag: $20/oz, Cu: $3.5/lb. Calculations used the formula AuEQ = Au g/t + (Ag g/t*0.0098765) + (Cu ppm*0.0001185). All metals are reported in USD and calculations consider recoveries of 90 % for gold, 80 % for copper, and 80 % for silver.
- True widths have not been determined as the mineralized body remains open in all directions. Further drilling is required to determine the mineralized body orientation and true widths.
Table 2: Drill data for holes in Press Release October 31, 2023
| Section | Hole ID | UTM E NAD 83 | UTM N NAD 83 | Elevation (m) | Azi (°) | Dip (°) | Depth (m) |
| SW PSZ | PS-23-07 | 426019.9 | 6270422.8 | 1764.7 | 320 | -88 | 726 |
| PS-23-08 | 426019.2 | 6270423.0 | 1764.6 | 320 | -60 | 507 | |
| PS-23-09 | 426018.6 | 6270422.2 | 1764.5 | 290 | -60 | 600 | |
| PS-23-10 | 426021.6 | 6270417.6 | 1764.2 | 170 | -60 | 666 | |
| NE PSZ | PS-23-11 | 427438.0 | 6271029.0 | 1500.8 | 295 | -50 | 654 |
| PS-23-12 | 427439.1 | 6271029.7 | 1500.8 | 110 | -60 | 483 |
Qualified Person
The Qualified Person for this news release for the purposes of National Instrument 43-101 is the Company's President and CEO, 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.
QA/QC
Diamond 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.
About Treaty Creek
The Treaty Creek Project hosts the Goldstorm Deposit, comprising a large gold-copper porphyry system, as well as several other mineralized zones. As disclosed in the "NI-43-101 Technical Report for the Treaty Creek Project", dated April 28, 2023 prepared by Garth Kirkham Geosystems and JDS Energy & Mining Inc., the Goldstorm Deposit has an Indicated Mineral Resource of 23.37 Moz of AuEQ grading 1.13 g/t AuEQ (18.75 Moz gold grading 0.91 g/t, 2.18 Blbs copper grading 0.15 %, 112.4 Moz silver grading 5.45 g/t) and an Inferred Mineral Resource of 7.35 Moz of AuEQ grading 0.98 g/t AuEQ (5.54 Moz gold grading 0.74 g/t, 0.85 Blb copper grading 0.16 %, 45.08 Moz silver grading 5.99 g/t), with a pit constrained cut-off of 0.5 g/t AuEQ and an underground cut-off of 0.7 g/t AuEQ. The Goldstorm Deposit has been categorized into three dominant mineral domains and several smaller mineral domains. The CS-600 Domain largely consists of an intermediate intrusive stock and hosts the majority of the copper mineralization within the Goldstorm Deposit. CS-600 has an Indicated Mineral Resource of 9.86 Moz AuEQ grading 1.10 g/t AuEQ (6.22 Moz gold grading 0.70 g/t, 1.98 Blbs copper grading 0.32 %, 51.1 Moz silver grading 5.71 g/t) and an Inferred Mineral Resource of 3.71 Moz AuEQ grading 1.19 g/t AuEQ (2.32 Moz gold grading 0.75 g/t, 0.76 Blb copper grading 0.36 %, 18.71 Moz silver grading 6.01 g/t). The Goldstorm Deposit remains open in all directions and requires further exploration drilling to determine the size and extent of the deposit.
1 AuEQ = Au g/t + (Ag g/t*0.0098765) + (Cu ppm*0.0001185)
About Tudor Gold
Tudor Gold Corp. is a precious and base metals exploration and development company with claims in British Columbia's Golden Triangle (Canada), 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 Newmont Corporation's Brucejack property to the southeast.
ON BEHALF OF THE BOARD OF DIRECTORS OF
Tudor Gold Corp.
"Ken Konkin"
Ken Konkin
President and Chief Executive Officer
For further information, please visit the Company's website at www.tudor-gold.com or contact:
Chris Curran
Head of Corporate Development and Communications
Phone: (604) 559 8092
E-Mail: chris.curran@tudor-gold.com
or
Carsten Ringler
Head of Investor Relations and Communications
Phone: +49 151 55362000
E-Mail: carsten.ringler@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.
Treaty Creek Project - Plan View
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4494/185682_slide1.jpg
Perfectstorm Zone Section Areas - Plan View
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4494/185682_slide2.jpg
NE PerfectStorm Zone - Section A
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4494/185682_slide3.jpg
SW Perfectstorm Zone - Section B
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4494/185682_slide4.jpg