Tudor Gold Intersects 1.215 gpt AuEq over 354.0 Meters Within 1225.5 Meters of 0.702 gpt AuEq (Hole GS-20-94) and 1.078 gpt AuEq over 345.0 Meters Within 921.0 Meters of 0.821 gpt AuEq (Hole GS-20-83)
Vancouver, British Columbia--(Newsfile Corp. - December 15, 2020) - Tudor Gold Corp. (TSXV: TUD) (FSE: TUC) (the "Company" or "Tudor Gold") is pleased to present results for the fifth set of diamond drill holes for the Goldstorm Zone at their flagship property, Treaty Creek. The project is located in the heart of the Golden Triangle of northwestern British Columbia and is on-trend from Seabridge's KSM Project located five kilometers southwest of the Goldstorm Zone. Results from 12 diamond drill holes have recently been received from MSA Labs with final results from another 11 diamond drill holes pending. All drill holes have successfully intersected the Goldstorm System, expanding and defining the mineralization along the northeast and southeast axes, as well as to depth. The Goldstorm System 300 Horizon has now been traced for 1100 meters along the northeast axis and, as well, the CS-600 and DS-5 zones have been expanded to the northeast and to depth. All 39 drill holes completed at Goldstorm during the 2020 program have encountered significant precious metal mineralization. The 2020 Treaty Creek Diamond Drill Program was completed last week, and field personnel have winterized the camp. The track-components of two track-mounted diamond drills remain on site ready for start-up of the 2021 exploration season.
Tudor Gold's Vice President of Project Development, Ken Konkin, P.Geo., states: "We are very pleased with the results obtained from all 39 drill holes completed this year to-date and we anticipate the release of the final 11 holes of the year within a few weeks. This brings the total to 50 drill holes that were completed this year at the Goldstorm Zone. These latest holes continued to expand the limits of the mineralized targets along the northeastern and the southeastern axes, and to depth. For a fifth consecutive press release, we have surpassed our best result from last years' drill hole program (0.697 AuEq over 1081.5 meters in hole GS-19-47) with drill holes GS-20-83 and GS-20-94 as described in the headline. The final 11 drill holes represent over 9600 meters of drilling and we expect that MSA Labs will complete the analysis of these final samples as soon as possible."
Treaty Creek Highlights include:
- Twelve drill holes presented in this press release total 11,551.1 meters
- The best results were from GS-20-94, a near-surface 354.0 meter intercept (36.0-390 m) averaging 1.215 gpt AuEq and GS-20-82 with a 351m intercept (113.0-464.0 m) averaging 1.051 gpt AuEq. Both holes are located on Section 111+00 NE.
- Equally impressive was drill hole GS-20-83 that also had a near-surface intercept over a similar 345.0 meters (73.5-418.5 m) that averaged 1.078 gpt AuEq on Section 112+50 NE.
- More Core Drilling did an excellent job completing 50 HQ/NQ2 diamond drill holes totaling 43,972 meters at Goldstorm and 1,636 meters at the Perfect Storm Target with three drill holes.
The following three tables below provide the complete list of composited drill hole results as well as the drill hole data including hole location, elevation, depth, dip and azimuth.
Table l: Results Goldstorm Zone Press Release December 15th 2020
| Section | Hole | Zone | From | To | Interval (m) | Au | Ag | Cu | AuEQ |
| 114+00 NE | GS-20-80 | 300H + CS600 | 222.50 | 1349.00 | 1126.50 | 0.369 | 1.66 | 653 | 0.486 |
| including 300H | 398.00 | 695.50 | 297.50 | 0.488 | 1.98 | 135 | 0.531 | ||
| and including CS600 | 831.50 | 1028.00 | 196.50 | 0.572 | 3.25 | 2703 | 1.011 | ||
| 115+50 NE | GS-20-81 | 300H + CS600 + DS5 | 558.40 | 1389.50 | 831.10 | 0.422 | 1.56 | 940 | 0.580 |
| including 300H + CS600 | 558.40 | 957.50 | 399.10 | 0.529 | 1.96 | 1712 | 0.807 | ||
| with 300H | 558.40 | 636.50 | 78.10 | 1.047 | 1.52 | 139 | 1.086 | ||
| and with CS600 | 704.00 | 957.50 | 253.50 | 0.481 | 2.37 | 2494 | 0.879 | ||
| 111+00 NE | GS-20-82 | 300H + CS600 | 113.00 | 1041.50 | 928.50 | 0.629 | 2.46 | 519 | 0.736 |
| including 300H | 113.00 | 464.00 | 351.00 | 0.969 | 3.56 | 263 | 1.051 | ||
| with 300H | 224.00 | 422.00 | 198.00 | 1.283 | 5.29 | 408 | 1.407 | ||
| 112+50 NE | GS-20-83 | 300H + CS600 + DS5 | 73.50 | 994.50 | 921.00 | 0.676 | 3.97 | 655 | 0.821 |
| including 300H | 73.50 | 418.50 | 345.00 | 1.008 | 3.48 | 191 | 1.078 | ||
| and including CS600 | 566.45 | 727.50 | 161.05 | 0.426 | 3.90 | 2863 | 0.898 | ||
| and including DS5 | 813.00 | 994.50 | 181.50 | 0.919 | 7.33 | 190 | 1.035 | ||
| 112+50 NE | GS-20-85 | 300H | 66.50 | 692.00 | 625.50 | 0.748 | 3.80 | 275 | 0.834 |
| CS600 | 752.00 | 989.00 | 237.00 | 0.241 | 2.23 | 1734 | 0.524 | ||
| DS5 | 1118.00 | 1278.50 | 160.50 | 0.511 | 2.11 | 128 | 0.555 | ||
| 114+00 NE | GS-20-86 | 300H | 118.50 | 577.50 | 459.00 | 0.712 | 3.43 | 263 | 0.792 |
| CS600 | 730.50 | 942.00 | 211.50 | 0.469 | 2.49 | 2172 | 0.821 | ||
| DS5 | 1014.00 | 1425.00 | 411.00 | 0.595 | 2.85 | 145 | 0.650 | ||
| including | 1192.50 | 1395.00 | 202.50 | 0.889 | 3.39 | 130 | 0.949 | ||
| 111+00 NE | GS-20-89* | 300H | 87.00 | 125.00 | 38.00 | 1.142 | 12.85 | 91 | 1.309 |
| 111+00 NE | GS-20-90 | 300H + CS600 | 63.00 | 847.50 | 784.50 | 0.646 | 2.89 | 465 | 0.750 |
| including 300H | 72.00 | 405.00 | 333.00 | 0.915 | 3.60 | 177 | 0.984 | ||
| and including CS600 | 643.50 | 768.00 | 124.50 | 0.635 | 4.60 | 1632 | 0.932 | ||
| 110+00 NE | GS-20-93* | 300H | 20.50 | 237.50 | 217.00 | 0.535 | 3.40 | 152 | 0.599 |
| incl. | 20.50 | 131.00 | 110.50 | 0.850 | 5.49 | 206 | 0.946 | ||
| 111+00 NE | GS-20-94 | 300H | 36.00 | 1261.50 | 1225.50 | 0.646 | 2.50 | 178 | 0.702 |
| including | 36.00 | 390.00 | 354.00 | 1.123 | 4.14 | 287 | 1.215 | ||
| or including | 36.00 | 820.50 | 784.50 | 0.856 | 3.45 | 239 | 0.933 | ||
| 108+00 NE | GS-20-96 | 300H | 6.00 | 109.50 | 103.50 | 0.804 | 2.27 | 129 | 0.850 |
| CS600 | 279.00 | 385.50 | 106.50 | 0.228 | 3.77 | 1235 | 0.457 | ||
| 110+00 NE | GS-20-97 | 300H | 18.40 | 584.00 | 565.60 | 0.609 | 1.95 | 107 | 0.648 |
| incl. | 18.40 | 381.50 | 363.10 | 0.693 | 2.35 | 141 | 0.742 |
*lost drill hole in mineralization
- 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 1.5m intervals
- The following metal prices were used to calculate the Au Eq metal content: Gold $1322/oz, Ag: $15.91/oz, Cu: $2.86/lb. Calculations used the formula Au Eq g/t = (Au g/t) + (Ag g/t x 0.012) + (Cu% x 1.4835). All metals are reported in USD and calculations do not consider metal recoveries.
- 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 ll: Drill Data for Holes in Press Release December 15th, 2020
Table II and Table III
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Attached are Sections 108+00 NE, 110+00 NE, 111+00 NE, 112+50 NE, 114+00 NE and 115+50 NE showing holes traces with histogram plots for gold and copper results and a Plan Map showing the drill hole and section locations.
Walter Storm, President and CEO, stated: "We are very pleased to announce the safe successful completion of our 2020 diamond drill hole program. We completed over four times the amount of drilling from the previous year's program, greatly advancing Tudor's flagship Treaty Creek Property. We completed almost 44,000 meters of drilling at the Goldstorm System and over 1,600 meters of drilling at the Perfect Storm target. Once we receive the final results from the last eleven drill holes, we will then pass the data to our resource engineers and geoscientists for an initial resource estimate. Continued drilling is required for 2021 to locate the limits or edges of the mineralized system. Due to the size and robust nature of the mineralization, the Goldstorm System remains open on all fronts and to depth. We are proud of what we have achieved in these last two years of exploration and in-particular, the great effort to withstand the harsh winter elements during November and December at Treaty Creek to bring the 2020 drill campaign to a safe close. Our commitment is to continue to advance the project as quickly as possible. We have left the track-drill carriage components for two track-mounted drill rigs on-site so our team can get an early start to the 2021 drill season. We look forward to receiving the final results of the eleven drill holes from MSA Labs within a couple of weeks to complete the 2020 exploration season on schedule."
Tudor Gold Corp and our associated service companies have taken extreme measures to maintain the highest professional standards while working within COVID-19 health and safety protocols.
QA/QC
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.
Qualified Person
The Qualified Person for this news release for the purposes of National Instrument 43-101 is the Company's Vice President Project Development, 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 with properties in British Columbia's Golden Triangle, 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 Pretium Resources Inc.'s Brucejack property to the southeast. The Company also has a 100% interest in the Electrum Project, earn in options and 100% interests in other prospective projects located in the Golden Triangle area.
"Walter Storm"
Walter Storm
President and Chief Executive Officer
For further information, please visit the Company's website at www.tudor-gold.com or contact:
Carsten Ringler
Head of Investor Relations and Communications
Phone: +1 604 559 8092 or +49 151 55362000
E-Mail: [email protected]
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.
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