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Tudor Gold Announces Filing Of Ni 43-101 Technical Report On The Updated Mineral Resource Estimate For The Goldstorm Deposit At The Treaty Creek Project, British Columbia

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Tudor Gold Announces Filing Of Ni 43-101 Technical Report On The Updated Mineral Resource Estimate For The Goldstorm Deposit At The Treaty Creek Project, British Columbia

 

 

 

 

 

Tudor Gold Corp. (TSX-V: TUD) (Frankfurt: H56) pleased to announce the filing of the technical report for the updated Mineral Resource Estimate on the Goldstorm Deposit at its flagship Treaty Creek Project located in the Golden Triangle region of British Columbia.  The Report is entitled “NI 43-101 Technical Report, Treaty Creek Project, British Columbia”, with an effective date of April 5, 2024 and was prepared for Tudor Gold by Garth Kirkham Geosystems and JDS Energy & Mining Inc. The Report is available under the Company’s profile on SEDAR at www.sedar.com or from the Company’s website at www.tudor-gold.com.

 

Highlights of the 2024 Updated Mineral Resource Estimate for the Goldstorm Deposit:

  • Increased the Indicated Mineral Resource by 19% in gold equivalent ounces (AuEQ), consisting of a 16% increase in gold (Au), 14% increase in silver (Ag) and 32% increase in copper (Cu).
  • Indicated Mineral Resource of 27.87 million ounces (Moz) of AuEQ within 730.20 million tonnes (Mt) at a grade of 1.19 g/t AuEQ; comprised of:
    • 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%.
  • Inferred Mineral Resource of 6.03 Moz of AuEQ within 149.61 Mt at a grade of 1.25 g/t AuEQ; comprised of:
    •  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, comprised of a monzodiorite intrusive stock and associated gold-copper porphyry system, constitutes a large part of the deposit with an Indicated Mineral Resource of 15.65 Moz of AuEQ within 400.29 Mt at a grade of 1.22 g/t AuEQ; consisting of:
    • 9.99 Moz of Au at 0.78 g/t; and 2.73 Blbs of Cu at 0.31%.
    • An 58% increase in the AuEQ ounces within the CS-600 domain.
  • The 2023 drilling improved our geologic understanding of the mineralization in the northern portion of the deposit. The NS-STK Domain was reinterpreted to be a NE-SW trending stockwork and is associated with the 300H Domain mineralization. This system has now been separated into its own mineral domain, named 300N.
  • Advanced metallurgical studies and refined the pit constrained and underground cutoff grades, increasing the pit constrained cutoff from 0.5 to 0.7 g/t AuEQ and the underground cutoff from 0.7 to 0.75 g/t AuEQ.
  • Substantially reduced the pit size which eliminated the necessity to remove the glacier and reduced the strip ratio.
  • The Goldstorm Deposit remains open to the south, north, northeast and at depth.

 

Updated Mineral Resource Estimate for the Goldstorm Deposit

 

The MRE was prepared by Garth Kirkham, P.Geo, based on 225 diamond drill holes (175,719 meters) completed between 2007 and 2023. The MRE included 27,394 meters of diamond drill holes that were completed since the 2023 MRE.

 

Table 1: Summary of Indicated and Inferred Mineral Resources as of February 20, 20241-6

  1. Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.
  2. The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.
  3. The Mineral Resources in this press release were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards on Mineral Resources and Reserves, Definitions (2014) and Best Practices (2019) prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council.
  4. The Mineral Resource Estimate was prepared for a potential open pit scenario using a constrained pit shell (with 45-degree slopes) at a 0.7 g/t gold equivalent cut-off grade and an underground mining scenario using a 0.75 g/t gold equivalent cut-off grade. Cut-off grades were derived from US$ 1,850/oz gold, US$ 21/oz silver, US$ 3.75/lb copper, CAD:USD of 0.77, C$ 2.50/tonne open pit and C$8.50 underground mining cost, C$ 38.50/tonne milled processing costs, and a C$ 1.50/tonne G&A cost. Process recoveries of 90% for gold, 80% for copper, and 80% for silver were used for the CS-600 domain and 90% for gold and 80% for silver with no copper for all other mineral domains
  5. AuEq g/t = Au g/t + (Ag g/t*0.01) + (Cu ppm*0.000124)
  6. A mineral estimate of the material within the defined pit that exists outside of the outlined mineral domains was completed and is included within the Inferred Mineral Resource.

 

The Goldstorm sensitivity tables (Tables 2,3,4 and 5) report the variation of resource grade and tonnage with respect to the change in cut-off grades for the Indicated and Inferred Mineral Resources.

 

Table 2: Indicated Mineral Resource Cutoff Sensitivity – Pit Constrained1

 

  1. Refer to footnotes to the Mineral Resource Estimate in Table 1 of this News Release.
  2. The MRE utilizes 0.7 g/t AuEQ for the pit constrained Mineral Resource

 

Table 3: Indicated Mineral Resource Cutoff Sensitivity – Underground1

 

  1. Refer to footnotes to the Mineral Resource Estimate in Table 1 of this News Release.
  2. The MRE utilizes 0.75 g/t AuEQ for the underground Mineral Resource.

 

Table 4: Inferred Mineral Resource Cutoff Sensitivity – Pit Constrained1

 

  1. Refer to footnotes to the Mineral Resource Estimate in Table 1 of this News Release.
  2. The MRE utilizes 0.7 g/t AuEQ for the pit constrained Mineral Resource

 

Table 5: Inferred Mineral Resource Cutoff Sensitivity – Underground1

 

  1. Refer to footnotes to the Mineral Resource Estimate in Table 1 of this News Release.
  2. The MRE utilizes 0.75 g/t AuEQ for the underground Mineral Resource.

 

The Goldstorm Deposit consists of six mineral domains with unique geological characteristics. Five of the domains are gold-dominant with lesser proportions of silver and copper. Domain CS-600 is dominantly gold and copper rich, with lesser silver. The CS-600 hosts the majority of the copper at the Goldstorm Deposit and consists of a well-defined intrusive porphyry system. Table 6 summarizes the Indicated and Inferred Mineral Resources for each mineral domain.

 

Table 6: Mineral Resources by Domain – Combined Pit and Underground1

 

  1. Refer to footnotes to the Mineral Resource Estimate in Table 1 of this News Release.
  2. A mineral estimate of the material within the defined pit that exists outside of the outlined mineral domains was completed and is included within the Inferred Mineral Resource.

 

Figure 1: Goldstorm Deposit MRE Domains

 

Qualified Persons

 

The Goldstorm MRE was prepared under the supervision of Garth Kirkham, P.Geo, FGC, of Kirkham Geosystems Ltd., with metallurgical expertise provided by Tad Crowie, P.Eng, of JDS Energy and Mining Inc, who are Independent Qualified Persons, as defined by National Instrument 43-101. Mr. Kirkham and Mr. Crowie have reviewed and approved the technical contents of this news release.

 

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 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.

 

Posted April 8, 2024

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