Vancouver, British Columbia - August 24, 2018 (Newsfile Corp.) (Investorideas.com Newswire) Tudor Gold Corp. (TSXV: TUD) (FSE: TUC) (the "Company" or "Tudor Gold") is pleased to report initial results from its 2018 drill program on the Copper Belle zone of the Company's Treaty Creek property in B.C.'s Golden Triangle of north-western B.C. Gold, silver and copper analyses have been received from the first two holes. To date, five holes have been completed, totaling 3,899 meters and the sixth and seventh holes are proceeding.
The gold assays from the first two drill holes indicate broad intervals of more than 300 meters of gold mineralization that have expanded the known area of the Copper Belle zone, providing positive results that will be used in future resource calculations. Significantly, the first sighting of coarse, visible gold has been made, within an interval that assayed 26.6 g/t gold over 1.5 meters in hole CB-18-32.
Walter Storm, President and CEO, stated: "We are extremely encouraged by the broad intervals of gold mineralization encountered in the first two drill holes of the season at Copper Belle. The large step-outs with the drills will quickly evaluate a significant area of the porphyry system and we are prepared to drill deeper holes to explore the indications of continuing gold mineralization at depth. In addition, there is a three-kilometer interval between Tudor Gold's Copper Belle discovery and Seabridge Gold's Iron Cap deposit, in which our magnetotelluric geophysical survey has identified strongly anomalous targets that have yet to be drill tested."
CB-18-31, the first hole of the season, is a step-out hole that has expanded the known extent of the Copper Belle zone some 100m to the west of previous drilling. CB-18-32, which is located 190m south of hole 31, has also extended the zone more than 100m to the west. Current drilling continues to step out successfully to the west in large jumps of 100 to 150 meters, providing information about a sizeable portion of the porphyry-style mineralized system. The Copper Belle zone appears to be a relatively flat-lying body that is located along trend, to the northeast of the Iron Cap Au-Cu deposit on the adjacent property of Seabridge Gold Corp. Holes at Copper Belle in 2018 are testing a magnetic high that measures some 600 meters by 500 meters and has previously only been drilled along its eastern and southern margins. For locations of the 2018 and other holes in the Copper Belle area that are overlain on Total Magnetics contours, please view the map below.
CB-18-31 intersected a 302 meter-long mineralized interval from 392.0 to 694.0 meters that averages 0.471 g/t gold. Within this section are zones of more intense silica alteration that contain greater concentrations of pyritic mineralization, which have returned higher gold values, such as 1.908 g/t Au over 20.5 meters.
CB-18-32 intersected two broad zones of mineralization; the upper zone averages 0.662 g/t gold over 337.8 meters and also contains intervals of stronger alteration and mineralization, such as 1.036 g/t gold over 121.8 meters and 0.800 g/t gold over 49.5 meters. The lower zone, 90 meters downhole from the first, averages 0.395 g/t gold over 169.5 meters, with higher grade intervals such as 0.758 g/t gold over 31.5 meters. Strong mineralization is present at the end of hole 32, indicating very good potential for continuing gold values at depth.
Gold, silver and copper results for holes CB-18-31 and CB-18-32 are summarized in the table below:
* All assay values are uncut and intervals reflect drilled intercept lengths.
* True widths of the mineralization have not been determined.
Earlier in the season, field crews examined and channel sampled a new zone of porphyry-style veining that has recently been exposed by retreating glacial ice. This area is about 1.1 kilometers southwest of the Copper Belle zone, toward the Iron Cap deposit, and has not been previously sampled. Of the twelve samples, several were anomalous in gold, with values such as 0.522 g/t gold over 1.5 meters. Additional sampling in this new zone is planned.
Drill core samples were prepared at ALS Global's Preparation Laboratory in Terrace, B.C., and assayed at ALS Global's Geochemical Laboratory in North Vancouver, B.C. 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. ALS Global Laboratories quality system complies with the requirements for the International Standards ISO 17025: 2005.
The Qualified Person for the Treaty Creek results in this new release is James A. McCrea, P.Geo., for the purposes of National Instrument 43-101. 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 in British Columbia's Golden Triangle, an area which hosts multiple past-producing mines and several large world-class deposits that are approaching potential development. The Company has a 60% interest in both the Electrum and Treaty Creek properties, and a 100% interest in the Mackie, Eskay North and Doc properties, all of which are located in the Golden Triangle area.
President and Chief Executive Officer
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
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 other than statements of historical fact included in this release, including, without limitation, statements regarding 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. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Company's expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or 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 actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements.
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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