Vancouver, British Columbia--(Newsfile Corp. - December 16, 2024) - Tudor Gold Corp. (TSXV: TUD) (FSE: H56) (the "Company" or "Tudor") is pleased to provide the following review of its 2024 exploration and technical programs on its Treaty Creek gold and copper project, located in the Golden Triangle of British Columbia.
Highlights of the 2024 Exploration & Technical Programs
Released an updated Mineral Resource Estimate (MRE) on the Goldstorm Deposit with an increase in the Indicated MRE by 19% in gold equivalent ounces (AuEQ), which consists of a 16% increase in gold (Au), 14% increase in silver (Ag) and 32% increase in copper (Cu).The global resources now stand at almost 28 million AuEQ ounces in the Indicated category and an additional 6 million AuEQ ounces in the Inferred category;
Completed 10,530 meters of diamond drilling in seven holes, expanding the CS-600 Domain, and confirming the discovery of Four High-Grade Gold-Bearing Breccia Structures collectively known as the Supercell-One System, within the northern area of the Goldstorm Deposit;
Announced positive metallurgical test results for samples from Lower CS-600 Domain, within the Goldstorm Deposit, which indicate that a high-quality and clean copper-gold-silverconcentrate can be produced;
Retained outside counsel to pursue all legal remedies and results which may be applicable arising from the issuance to KSM Mining ULC (a subsidiary of Seabridge Gold Inc.) of a Licence of Occupation on September 27, 2024.
Ken Konkin, President & CEO of Tudor Gold, comments, "The Treaty Creek Project continues to demonstrate its strong potential with significant advancements in 2024, including resource growth, high-grade discoveries, and positive metallurgical results. The discovery of the Supercell-One System, with its stacked high-grade breccia structures, highlights the project's capacity for delivering high-grade and consistent gold mineralization, while the updated resource estimate and positive metallurgy reaffirm the project's scalability and quality. These achievements continue to solidify Treaty Creek as a cornerstone asset within the Golden Triangle. We are very excited to continue moving the Treaty Creek Project forward in 2025, building on what we have accomplished in such a short period of time since the discovery of Goldstorm in 2019. Additionally, we have retained a well-known legal firm to assert our priority mineral rights as the registered owners of the Treaty Creek claims. We are amenable to assisting any and all of our mining neighbours, but not at the expense of compromising our ability to explore, develop, extract and process our base and precious metals that underlie our mineral claims, nor compromise the area or the infrastructure development required to do so. The Company is very optimistic in its future prospects and looks forward to providing an update in Q1 of the New Year outlining its 2025 strategy to advance the Treaty Creek Project.
Furthermore, investors should note that Tudor Gold's market capitalization is currently just over $160 million, while having 27.87 million gold equivalent ounces (AuEQ) in Indicated Resourcesgrading 1.19 g/t AuEQ with an additional 6.03 million ounces of 1.25 g/t AuEQ in Inferred Resources. The Goldstorm Deposit remains open in all directions and at depth and is centered between the Perfectstorm Zone (PSZ) and Calm Before the Storm (CBS) discoveries, giving our Project enormous geological potential for continued mineral discovery and deposit expansion."
Optimized Updated Mineral Resource Estimate
The 2024 updated MRE for the Goldstorm Deposit demonstrates significant progress (see the news release dated April 8, 2024), notably a 19% increase in Indicated MRE in gold equivalent ounces (AuEQ), comprising a 16% increase in gold, a 14% increase in silver (Ag), and a 32% increase in copper (Cu). The 2024 Indicated MRE now totals 27.87 million ounces (Moz) of AuEQ within 730.20 million tonnes (Mt) at a grade of 1.19 g/t AuEQ, (containing 21.66 Moz of Au at 0.92 g/t, 128.73 Moz of Ag at 5.48 g/t, and 2.87 billion pounds (Blbs) of Cu at 0.18%). The Inferred MRE comprises 6.03 Moz of AuEQ within 149.61 Mt at a grade of 1.25 g/t AuEQ, (containing 4.88 Moz of Au at 1.01 g/t, 28.97 Moz of Ag at 6.02 g/t, and 503.23 million pounds (Mlbs) of Cu at 0.15%). The CS-600 Domain, characterized by a monzodiorite intrusive stock hosting a gold-copper porphyry system, represents a major component of the Goldstorm Deposit, with 15.65 Moz of AuEQ within 400.29 Mt at a grade of 1.22 g/t AuEQ, (containing 9.99 Moz of Au at 0.78 g/t and 2.73 Blbs of Cu at 0.31%). The recent drilling produced a 58% increase in AuEQ ounces in this domain.
The Goldstorm Deposit remains open to the south, north, northeast, and at depth.
Highlights of the 2024 Drill Program and High-Grade Discovery
In 2024 Tudor Gold completed 10,530 meters (m) of diamond drilling in seven holes at the Goldstorm Deposit. The results from this program confirmed the discovery of multiple sub-parallel, stacked, micro-breccia zones within an area now known as the Supercell-One (SC-1) System. These results followed up the initial pre-2024 drilling that originally encountered a single 5-10 meter-wide quartz-pyrite-gold micro-breccia structure superimposed, or overprinted on the gold-copper-rich CS-600 Domain. Visual inspection of the drill core indicated consistent gold mineralization within the series of late-stage, gold-dominant, quartz-pyrite micro-breccia structures. The SC-1 high-grade gold system currently measures an impressive strike length of up to 800 meters and 400 meters in width, comprised of four sub-parallel structures that remain open in all directions and at depth. In addition to expanding the size of the known high-grade mineral horizons, significant potential exists to discover more supercells within known domains and subparallel to the four newly discovered micro-breccia systems. Drill highlights from the nine holes targeting the SC-1 area include the following:
Hole GS-22-134: intersected the original SC-1, now known as SC-1C, returning:
SC-1C: 9.96 g/t AuEQ over 25.50 m (9.66 g/t Au, 1.23 g/t Ag, 0.24% Cu);
including 20.86 g/t AuEQ over 4.50 m (20.61 g/t Au, 1.50 g/t Ag, 0.20% Cu)
Hole GS-23-176-W1: intersected the original SC-1, now known as SC-1C, returning:
SC-1C: 15.64 g/t AuEQ over 15.00 m (14.89 g/t Au, 4.72 g/t Ag, 0.60% Cu)
Hole GS-23-179: intersected the original SC-1, now known as SC-1C, returning:
SC-1C: 10.07 g/t AuEQ over 12.00 m (9.78 g/t Au, 1.35 g/t Ag, 0.23% Cu)
Hole GS-24-181: intersected 3 separate high-grade intervals of the Supercell System:
SC-1A: 9.02 g/t AuEQ over 2.00 m (8.97 g/t Au, 3.73 g/t Ag, 0.01% Cu); and
SC-1B: 11.05 g/t AuEQ over 3.00 m (8.28 g/t Au, 126.50 g/t Ag, 1.21% Cu); and
SC-1C: 5.31 g/t AuEQ over 6.00 m (5.02 g/t Au, 3.32 g/t Ag, 0.21% Cu)
Hole GS-24-183-W1: intersected 3 separate high-grade intervals of the Supercell System:
SC-1A: 6.76 g/t AuEQ over 6.00 m (6.44 g/t Au, 26.62 g/t Ag, 0.04% Cu); and
SC-1B:13.89 g/t AuEQ over 6.30 m (4.25 g/t Au, 224.59 g/t Ag, 5.96% Cu); and
SC-1C: 5.12 g/t AuEQ over 9.00 m (5.08 g/t Au, 1.24 g/t Ag, 0.02% Cu)
Hole GS-24-184: intersected the original SC-1, discovered in 2022, now known as SC-1C, returning:
SC-1C: 8.09 g/t AuEQ over 6.15 m (5.44 g/t Au, 63.77 g/t Ag, 1.62% Cu) within a wider structure of 3.54 g/t AuEQ over 19.65 m (1.96 g/t Au, 39.05 g/t Ag, 0.96% Cu)
Hole GS-24-185: intersected a 150 m eastward step-out of the CS-600 Domain and the new SC-1D zone:
CS-600: 1.01 g/t AuEQ over 200.50 m (0.92 g/t Au, 2.69 g/t Ag, 0.05% Cu)
Including: 2.18 g/t AuEQ over 21.00 m (1.95 g/t Au, 2.92 g/t Ag, 0.17% Cu)
SC-1D: 9.60 g/t AuEQ over 13.50 m (9.58 g/t Au, 0.44 g/t Ag, 0.01% Cu)
Hole GS-24-186: intersected an 85 m northward step-out of the SC-1A zone:
SC-1A: 10.40 g/t AuEQ over 1.50 m (9.78 g/t Au, 22.46 g/t Ag, 0.02% Cu)
Hole GS-24-187: intersected a 200 m northeastward step-out of the SC-1C zone, a 130 m northward step-out of the SC-1D zone and a 120 m northward step-out of the CS-600 Domain:
SC-1C: 10.92 g/t AuEQ over 3.00 m (10.89 g/t Au, 0.97 g/t Ag, 0.02% Cu)
SC-1D: 5.70 g/t AuEQ over 3.00 m (5.65 g/t Au, 0.95 g/t Ag, 0.03% Cu)
CS-600: 1.22 g/t AuEQ over 115.50 m (0.75 g/t Au, 2.22 g/t Ag, 0.36% Cu
Including: 1.68 g/t AuEQ over 10.50 m (0.13 g/t Au, 4.76 g/t Ag, 1.22% Cu)
The image below highlights the drill results from the SC-1 Zone within the Goldstorm Deposit.
The Supercell-One system remains open to the northwest, north, and east. The Company plans to further explore this higher-grade system with continued drilling. In the near term, the Company also plans to review other gold-dominant sub-domains as part of the Company's strategy to expand the high-grade gold potential of the Goldstorm Deposit. Such areas as R-66 and 300N show similar structural characteristics and are composed of similar gold-rich quartz-pyrite micro-breccia veinlets.
Tudor Gold considers a scenario whereby the SC-1 Zone provides a potential path towards developing a large, multi-generational project that begins with a high-grade underground starter operation and expands into a substantial block-cave underground copper-gold-silver production.
Metallurgical Test Work and Results:
In October it was reported that metallurgical testing carried out at Blue Coast Research, under the supervision of Tad Crowie, P. Eng. of JDS Energy & Mining Inc., demonstrated that a high-grade copper concentrate could be produced from the Lower CS-600 sub-domain (see news release dated October 24, 2024). The locked cycle test achieved recoveries of 88.1% copper, 63.8% gold, and 51.3% silver into a concentrate with grade exceeding 29% copper with significant gold and silver grades of 33 g/t and 96 g/t for the Lower CS-600 samples. A locked cycle test is considered an important step in developing a mineral processing flowsheet which incorporates a conventional flotation circuit. The tests were completed on samples that are consistent with those used for the previous metallurgical testing and have gold and copper feed grades of 0.91 g/t Au and 0.59% Cu, which are consistent with the grades in the Lower CS-600 sub-domain.
Highlights of the 2024 Locked Cycle testing on the Lower CS-600 Sub-Domain:
Product
Weight
Assays
Distribution
grams
%
Au (g/t)
Ag (g/t)
Cu (%)
S (%)
Au %
Ag %
Cu %
S %
Cleaner 3 Conc
105.0
1.8
33.16
96.7
29.59
33.2
63.8
51.3
88.1
21.6
Cleaner 1 Tail
358.0
6.0
1.12
9.20
0.7
4.9
7.4
16.7
7.0
10.9
Rougher Tail
5532.7
92.3
0.28
1.14
0.03
1.97
28.8
32.0
4.9
67.5
Calculated Head
5995.7
100.0
0.91
3.30
0.59
2.69
100.0
100.0
100.0
100.0
Table 1 - Source: Blue Coast Research (2024)
The high copper concentrate grade, along with high levels of gold and silver achieved in this test suggests that there are opportunities to pull the circuit harder to increase overall metal recovery.
Quality Assurance and Control
Ken Konkin, P.Geo, President and CEO, Tudor Gold, is the Qualified Person, as defined by National Instrument 43-101, responsible for the Project. Mr. Konkin has reviewed, verified, and approved the scientific and technical information in this news release.
About Treaty Creek and the Goldstorm Deposit
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 5, 2024 prepared by Garth Kirkham Geosystems and JDS Energy & Mining Inc., the Goldstorm Deposit has an Indicated Mineral Resource of 27.87 million ounces (Moz) of AuEQ grading 1.19 g/t AuEQ (21.66 Moz gold grading 0.92 g/t, 2.87 billion pounds (Blbs) copper grading 0.18%, 128.73 Moz silver grading 5.48 g/t) and an Inferred Mineral Resource of 6.03 Moz of AuEQ grading 1.25 g/t AuEQ (4.88 Moz gold grading 1.01 g/t, 503.2 Mlb copper grading 0.15%, 28.97 Moz silver grading 6.02 g/t), with a pit constrained cut-off of 0.7 g/t AuEQ and an underground cut-off of 0.75 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 nested pulses of diorite intrusive stocks and hosts the majority of the copper mineralization within the Goldstorm Deposit. CS-600 has an Indicated Mineral Resource of 15.65 Moz AuEQ grading 1.22 g/t AuEQ (9.99 Moz gold grading 0.78 g/t, 2.73 Blbs copper grading 0.31%, 73.47 Moz silver grading 5.71 g/t) and an Inferred Mineral Resource of 2.86 Moz AuEQ grading 1.20 g/t AuEQ (1.87 Moz gold grading 0.79 g/t, 475.6 Mlb copper grading 0.29%, 13.4 Moz silver grading 5.63 g/t). The Goldstorm Deposit remains open in all directions and requires further exploration drilling to determine the size and extent of the deposit.
About Tudor Gold
TUDOR GOLD CORP. is a precious and base metals exploration and development company with claims in the Golden Triangle of British Columbia (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 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 Vice President of Investor Relations and Corporate Development Phone: (604) 559 8092 E-Mail: chris.curran@tudor-gold.com; or
Patrick Donnelly Vice President of Capital Markets Phone: (604) 559 8092 E-Mail: patrick@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 the key objectives in the Company's strategic plan, and 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 connotation thereof.
Such forward-looking information and statements are based on numerous assumptions, including among others, that the Company's strategic plan and 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.
