Tudor Gold Corp. (TSX-V: TUD) (FRA: H56) is pleased to announce the results of its updated Mineral Resource Estimate prepared by Garth Kirkham P. Geo., of Kirkham Geosystems Ltd., and JDS Energy and Mining Inc. for its flagship Treaty Creek project located in the Golden Triangle Region of British Columbia. Tudor Gold’s initial Mineral Resource Estimate for the Project was included in a technical report entitled “Technical Report and Initial Mineral Resource Estimate of the Treaty Creek Gold Property, Skeena Mining Division, British Columbia, Canada”, dated April 23, 2021, with an effective date of March 1, 2021. (the “2021 MRE”).
Highlights of the Updated Mineral Resource Estimate on the Goldstorm Deposit at the Project:
Commenting on the results, Ken Konkin, President & CEO of Tudor Gold, “We are very pleased by the results of our updated MRE for the Goldstorm Deposit, which resulted in an impressive 53 % increase in the gold equivalent grade and a 20 % increase in total gold equivalent ounces within the Indicated Mineral Resource category. The updated MRE utilizes higher cut-off grades (Pit: 0.50 g/t AuEQ, Underground: 0.70 g/t AuEQ) than the 2021 MRE (Pit: 0.30 g/t AuEQ, Underground: 0.46 g/t AuEQ). These higher cut-off grades exemplify the robust nature of this deposit, including the mineral consistency and thickness of the higher-grade gold and copper mineralized domains that were intercepted during the Company’s 2021 and 2022 drill programs. Even at these higher cut-off grades, the overall project-wide contained copper in both the Indicated and Inferred Mineral Resource categories increased to more than double that of the previous MRE, to over 3 billion pounds of copper. These accomplishments are a culmination of two additional years of drilling and refining of our geologic understanding to vector towards higher-grade gold, copper, and silver. These improvements to the Goldstorm Deposit are expected to provide an excellent foundation as the Company advances the Treaty Creek Project towards an initial economic assessment. Continued definition and expansion drilling will continue in 2023 to target higher gold, silver and copper grades throughout the northern expansion area of the Goldstorm Deposit.”
Updated Mineral Resource Estimate for the Goldstorm Deposit
The MRE was prepared by Garth Kirkham, P.Geo, based on 201 diamond drill holes (148,474 meters) completed between 2007 and 2022. The MRE included 62,916 meters of diamond drill holes that were completed since the 2021 MRE. A National Instrument 43-101 Technical Report is expected to be prepared by Garth Kirkham Geosystems and JDS and posted on www.tudor-gold.com and under the Company’s profile on www.SEDAR.com within 45 days of the date of this news release.
The Goldstorm sensitivity tables (Tables 2 and 3) report the variation of resource grade and tonnage with respect to the change in cut-off grades for the Indicated and Inferred Mineral Resources.
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 4 summarizes the Indicated and Inferred Mineral Resources for each mineral domain.
Figure 1: Goldstorm Deposit MRE Domains
2023 Exploration Program
In 2023, the Company expects to continue to target the Goldstorm Deposit in particular the limits of the CS-600 and the DS-5 Domains. Definition and step-out drilling within the current resource will continue to target higher gold, silver and copper grades throughout the northern step-out expansion area at Goldstorm. The overarching goal of future exploration programs is to increase the size of the current Treaty Creek Property Mineral Resource, continue to make new significant discoveries, and advance the Goldstorm Deposit and the Project towards an initial economic assessment.
The Goldstorm MRE was prepared under the supervision of Garth Kirkham, P.Geo, FGC, of Kirkham Geosystems Ltd., and JDS who is an Independent Qualified Person, as defined by National Instrument 43-101. Mr. Kirkham has 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 Corp.
Tudor Gold Corp. is a precious and base metals exploration and development company with properties 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 Newcrest Mining’s Brucejack Mine property to the southeast.
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We acknowledge the [financial] support of the Government of Canada.