Tudor Gold Corp. (TSXV: TUD) (Frankfurt: H56) (the “Company” or “Tudor“ - https://www.commodity-tv.com/ondemand/companies/profil/tudor-gold-corp/) is pleased to announce the results of its updated Mineral Resource Estimate (MRE) prepared by Garth Kirkham P. Geo., of Kirkham Geosystems Ltd., and JDS Energy and Mining Inc. ("JDS") for its flagship Treaty Creek project (the "Project") located in the Golden Triangle Region of British Columbia.
Tudor Gold’s previous MRE for the Project was included in a technical report entitled “NI 43-101 Technical Report, Treaty Creek Project, British Columbia,”, dated April 28, 2023, with an effective date of April 28, 2023. (the "2023 MRE").
Highlights of the 2024 Updated Mineral Resource Estimate for the Goldstorm Deposit:
Tudor Gold is also pleased to announce the signing of a Memorandum of Understanding with the Tsetsaut Skii km Lax Ha Nation, on whose territory the project area is located. Tudor Gold understands and acknowledges that the Nisga’a and Tahltan also assert interests in the Treaty Creek area. In accordance with the Ministry of Mines, we seek consultation with all First Nation groups as part of our compliance and permitting requirements. We are committed to working with all First Nations groups who may be impacted by our project as part of our Truth and Reconciliation policies. We welcome the opportunity of working together to build a strong and robust project that is beneficial to all who live in the Northern communities.”
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. 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.
Metallurgical Studies Update
Blue Coast Research Ltd. (BCR), under the supervision of Tad Crowie, P. Eng of JDS Energy & Mining Inc., has been conducting a metallurgical test work program on samples from the Company’s Goldstorm Deposit from the Treaty Creek Property. The program includes flotation and whole ore cyanide leach to build on previous work conducted at SGS and Bureau Veritas (BV). The flotation tests demonstrate that the CS-600 domain can produce a quality copper concentrate with significant quantities of gold. Also, CS-600 cyanidation results demonstrated improved gold recoveries over previous test work. The positive flotation and leaching tests, along with previously conducted oxidative stage (POX, Albion, or bioleach) and leaching will continue to allow for previously reported gold recoveries of 90% and copper recoveries of 80% for the CS-600 domain. The testwork completed to date has indicated that there are no deleterious elements of concern in processing the Treaty Creek material or selling concentrates.
In the flotation tests, emphasis was placed on the CS-600 domain to produce a copper concentrate and a pyrite/gold concentrate as the CS-600 area had previously only received preliminary test work. Metallurgical results from the CS-600 domain include:
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.
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 connotation 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.
Tudor Gold’s previous MRE for the Project was included in a technical report entitled “NI 43-101 Technical Report, Treaty Creek Project, British Columbia,”, dated April 28, 2023, with an effective date of April 28, 2023. (the "2023 MRE").
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 87 million ounces (Moz) of AuEQ within 730.20 million tonnes (Mt) at a grade of 1.19 g/t AuEQ; comprised of:
- 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 03 Moz of AuEQ within 149.61 Mt at a grade of 1.25 g/t AuEQ; comprised of:
- 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 65 Moz of AuEQ within 400.29 Mt at a grade of 1.22 g/t AuEQ; consisting of:
- 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 300-N.
- 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.
Tudor Gold is also pleased to announce the signing of a Memorandum of Understanding with the Tsetsaut Skii km Lax Ha Nation, on whose territory the project area is located. Tudor Gold understands and acknowledges that the Nisga’a and Tahltan also assert interests in the Treaty Creek area. In accordance with the Ministry of Mines, we seek consultation with all First Nation groups as part of our compliance and permitting requirements. We are committed to working with all First Nations groups who may be impacted by our project as part of our Truth and Reconciliation policies. We welcome the opportunity of working together to build a strong and robust project that is beneficial to all who live in the Northern communities.”
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. 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.
Metallurgical Studies Update
Blue Coast Research Ltd. (BCR), under the supervision of Tad Crowie, P. Eng of JDS Energy & Mining Inc., has been conducting a metallurgical test work program on samples from the Company’s Goldstorm Deposit from the Treaty Creek Property. The program includes flotation and whole ore cyanide leach to build on previous work conducted at SGS and Bureau Veritas (BV). The flotation tests demonstrate that the CS-600 domain can produce a quality copper concentrate with significant quantities of gold. Also, CS-600 cyanidation results demonstrated improved gold recoveries over previous test work. The positive flotation and leaching tests, along with previously conducted oxidative stage (POX, Albion, or bioleach) and leaching will continue to allow for previously reported gold recoveries of 90% and copper recoveries of 80% for the CS-600 domain. The testwork completed to date has indicated that there are no deleterious elements of concern in processing the Treaty Creek material or selling concentrates.
In the flotation tests, emphasis was placed on the CS-600 domain to produce a copper concentrate and a pyrite/gold concentrate as the CS-600 area had previously only received preliminary test work. Metallurgical results from the CS-600 domain include:
- Flotation testing of the CS-600 produced a concentrate of approximately 20% copper and 25 g/t gold;
- Flotation recoveries for the CS-600 domain achieved 79.5% and 65.3% for copper and gold respectively;
- Flotation recoveries of the 300H, and DS5 domains demonstrate that gold can be concentrated prior to oxidation and cyanide leaching to improve the economics of recovery; and
- Whole ore leach recoveries of 81.1% gold on the CS-600 sample.
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.
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 connotation 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.
