Vancouver, British Columbia - September 14, 2017 (Newsfile Corp.) (Investorideas.com Newswire) Tudor Gold Corp. (TSXV: TUD) (FSE: TUC) (the "Company" or "Tudor Gold") today announced that the HC mineralized zone of the HC deposit (the "HC Zone") within the GR2 claim block on the 60%-owned Treaty Creek project located in the "Golden Triangle, BC" (the "Treaty Creek Project") hosts a precious metal-rich, polymetallic, volcanogenic massive sulphide and sulfosalt ("VHMS") mineralized system.
Walter Storm, President and CEO, stated: "We are very pleased with the results so far. We were attracted to the Treaty Creek Project by the clear potential for extensive mineralized zones on our claims and the results from the HC Zone within the GR2 claim block have exceeded our expectations. We look forward to the completion of a resource estimate on the HC Zone, and a resource estimate on the Copper Belle project which is also well underway."
The HC Zone appears to be a complete precious metal-rich VHMS deposit in which the feeder vein system, the vent structures, and the sulphides in a restricted sedimentary basin had been intersected. All three zones of the HC deposit carry elevated values of gold. The feeder vein system also carries elevated silver and base metal (Pb, Zn, Cu) content.
The HC Zone shows elevated concentrations of gold, silver, Sb-sulfosalts hosted between a pervasively sericite-pyrite-chlorite altered volcaniclastic sequence (bimodal mafic-felsic affinity), and restricted sedimentary basins where mudstones host sulfide mineralization underlying stockwork base metal and precious metal veins. These characteristics are similar and unique to the nearby Eskay Creek deposit. The highest grade, and most continuous precious-metal mineralization within the HC Zone, occurs as an apparent stratabound zone at the contact of the footwall mudstone and the hydrothermally altered volcaniclastic sequence. This is interpreted as being the product of a mineralizing growth-graben fault, proximal to felsic flows, ash tuffs, and felsic conglomerates.
During the ongoing 2017 season, Tudor Gold has drilled 13 holes in the vicinity of, and to the north of the 9 holes drilled in 2007 and 11 holes in 2009 by American Creek Resources. Together, these 33 holes have produced consistent geology demonstrating the continuity of the feeder vein system, the vent structure, and the sedimentary basin within the area bounded by these holes (assays received up to HC-17-07, awaiting assays on all remaining 2017 holes).
The holes drilled by Tudor Gold and American Creek Resources cover approximately 400m along strike and 450m down dip at 50m space increments in the direction of the main mineralized structure. Historical surface sampling carried out by previous operators to both the north and south of the HC Zone indicates that the main mineralized structure extends at least for 3,000m along strike. The entire 3,000m mineralized structure which hosts HC remains open to the north, south beyond the existing drill holes, and down dip.
1. The Feeder Vein System: It is comprised of discordant veins hosted mainly in pervasively sericite-pyrite-chlorite altered volcaniclastic sequence. Two types of veins are recognized: silver dominant Mn-rich carbonates and sulphides (semi-massive yellow to light brown zoned sphalerite, galena, pyrite and minor chalcopyrite can add to >50% of the veins) and gold dominant chalcedonic quartz veins. Textures include those more typical of the epithermal suite (banded, crustiform, breccia/vein).
2. The Vent Structure: It is comprised of silica flooded and altered mudstone and volcanic conglomerates along with breccias and semi-massive sulphide replacements. Several stages of silica can be recognized cementing and replacing successive events of brecciation. Silica alteration occurs as silicification and chalcedonic silica, usually gray to bluish in color, obliterating previous textures. Pyrite and Sb-sulphosalts are the dominant sulphides as veinlets, stringers and semi-massive replacements. Stibnite, galena, sphalerite and arsenopyrite are also common in veinlets and disseminations.
3. The Sulphides in Sedimentary Basins: Fine grained pyrite and Sb-sulphosalts have been identified as finely laminated sedimentary beds and patchy pyrite/quartz replacements within mudstones/siltstones in the proximity of the venting structures intersected in core, particularly around holes HC-17-01, 04, 05, 08, 10, 11 and 12 (as per visual inspection of the drill core). The mineralization appears to be hosted in the immediate contact of the underlying footwall mudstone unit and the upper altered volcaniclastic sequence.
Quality Control and Data VerificationSamples were assayed by Activation Labs in Kamloops, BC. Analytical accuracy and precision are monitored by the submission of blanks, certified standard samples and duplicate samples inserted at regular intervals into the sample train by Tudor Gold personnel. Activation Lab's quality system complies with the requirements for the International Standards ISO 9001: 2000 and ISO 17025: 1999.
This press release has been prepared and verified by Raul Sanabria, M.Sc., P.Geo, EurGeol, Exploration Manager and Qualified Person for the 2017 Treaty Creek Project field season and a Qualified Person for the purposes of National Instrument 43-101.
President and Chief Executive Officer
About Tudor Gold
Tudor Gold is a significant explorer in British Columbia's Golden Triangle, an area which hosts multiple past-producing mines and several large deposits that are approaching potential development. The GR2 claim group within the Treaty Creek Project claims is approximately 12 km southeast of the historic past-producing Eskay Creek mine. In the 13 years during which the Eskay Creek mine operated "more than 100 tonnes of gold and 5000 tonnes of silver" were produced (BC MINFILE No 104B 008). The "Golden Triangle" has been an exploration and mining district for over 100 years. The Company has a 60% interest in both the Electrum property and Treaty Creek Project, and a 100% interest in the Mackie, Eskay North, Orion, Fairweather, Delta and the High North properties, all of which are located in the Golden Triangle area.
For further information, please visit the Company's website at www.tudor-gold.com or contact:
CHF Capital Markets
Tel: 416-868-1079 x 231
Chief Financial Officer & Corporate Secretary
Cautionary Statements regarding Forward-Looking Information
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially.
All statements including, without limitation, statements relating to the potential mineralization and geological merits of the Treaty Creek Project and other future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. 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. 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.
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.
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