VANCOUVER, BRITISH COLUMBIA–(Marketwired – Sept. 12, 2016) – Tudor Gold Corp. (TSX VENTURE:TUD) (the “Company” or “Tudor Gold”) is pleased to announce that blasted bedrock trenching on the Electrum property has expanded the high-grade silver-gold mineralization at the New Blast Zone.
The Electrum project is a joint venture between project operator Tudor Gold (60%) and American Creek Resources Ltd. (40% JV partner). It is located in the Golden Triangle, north of Stewart, B.C., a region known for its dynamic, large scale precious metal exploration and mining activities.
The surface blasting program was started after the completion of the 2016 Electrum drill program, from which complete assay results are still pending and will be released once received and compiled. In total 19 drill holes, totaling 1,406 meters, were completed. A total of 1492 core samples were collected and assayed. Standard sample interval was one meter with 0.25m sub samples collected to test contacts and anomalous intervals. A specialized diamond coring drill was utilized which has the capability to drill flat holes and provides the ability to drill targets of interest with more precision. Low angle drill geometry allows Tudor Gold to take advantage of mountainside geometry and follow the surface exposed mineralization down dip.
Twelve representative specimens were collected across a central vein system on New Blast Zone. It is approximately 5 m wide and currently exposed for 15 meters along strike. The vein system is open in both directions and at depth. The central axis of the vein system is infilled with a fine-grained blackish, blue-grey mineralization. The northern contact of which is a 0.5m wide sharp edged quartz fragments in a foliated sulphide-quartz-carbonate matrix. The sulphides are pyrite, pyrrhotite, with thin galena/silver seams. The twelve representative specimens collected from the structure averages 3,461.92 grams (111.30 oz) silver per tonne and 2.24 grams gold per tonne. An 8 cm wide silver sulphide core seam returned 30,200 grams (1,065.3 oz) silver per tonne.
The following table lists the New Blast Zone results.
| Analyte Symbol | Au | Ag | As | Cu | Pb | Zn | ||||||||||
| Unit Symbol | g/mt | g/tonne | % | % | % | % | ||||||||||
| Detection Limit | Field | 0.005 | 3 | 0.01 | 0.001 | 0.003 | 0.001 | |||||||||
| Analysis Method | Trench # | Description | FA-AA | FA-GRA | ICP-OES | ICP-OES | ICP-OES | ICP-OES | ||||||||
| E903305 | NBT01 | vuggy central vein | 2.57 | 866 | 0.02 | 0.033 | 4.37 | 0.062 | ||||||||
| E903306 | NBT01 | vuggy qtz vein | 1.64 | 381 | < 0.01 | 0.012 | 0.894 | 0.068 | ||||||||
| E903307 | NBT01 | fine grained galena | 1.01 | 2670 | 0.08 | 0.33 | 31.4 | 1.86 | ||||||||
| E903308 | NBT01 | ‘gouge’ | 4.67 | 3070 | 0.11 | 0.035 | 18 | 0.105 | ||||||||
| E902451 | NBT01 | Qtz sulphide bx | 0.212 | 30200 | 0.03 | 0.002 | 0.081 | 0.004 | ||||||||
| E902454 | NBT01 | Qtz vein | 1.49 | 36 | 0.03 | 0.021 | 0.183 | 0.2 | ||||||||
| E902456 | NBT01 | Rk 1 & Rk 2 contact | 5.78 | 1020 | 0.13 | 0.523 | 5.47 | 7.51 | ||||||||
| E902459 | NBT01 | Rk type 1 ‘ore’ | 5.03 | 1500 | 0.1 | 0.456 | 7.95 | 15.2 | ||||||||
| E902462 | NBT01 | Rk type 2 (footwall) | 1.43 | 787 | 0.1 | 0.339 | 5.89 | 11.6 | ||||||||
| E902465 | NBT01 | massive sulphide (py) | 0.296 | 46 | 0.05 | 0.002 | 0.011 | 0.011 | ||||||||
| E902467 | NBT01 | Rk type 3 (hanging wall) | 1.68 | 922 | 0.02 | 0.018 | 2.61 | 0.06 | ||||||||
| E902468 | NBT01 | Qtz galena crystals | 1.11 | 45 | 0.02 | 0.045 | 0.231 | 0.749 |
Trenching continues with blasting on the Shiny Cliff vein mineralization. It has exposed mineralization which is similar in nature to that at the New Blast Zone. Blast rock samples from the Shiny Cliff area have been sent in for analysis. Trenching and sampling is ongoing to see if the mineralization connects between the Shiny Cliff and New Blast.
Based on the results, the Company intends on applying for a permit from the BC Ministry of Energy & Mines to remove a bulk sample of mineralized material from the Electrum property. The bulk sample program is intended to investigate the metallurgical properties and determine mineralized grades.
Walter Storm, President and CEO, stated: “We are very pleased with the results of the work on the Electrum this summer as we have increased the known mineralized gold and silver zones.”
The Electrum project (historical East gold mine) is located approximately 25 km south of Pretium’s Brucejack gold mine. The Electrum is road accessible and is only 45 km from world-class concentrate shipping port facilities located in Stewart.
Quality Assurance/Quality Control
Analytical work for trench specimens are being carried out by Actlabs Kamloops (Accredited Laboratory No. 790). Quality assurance and quality control programs include the use of analytical blanks and standards and duplicates in addition to the labs own internal quality assurance program.
All specimens were first analyzed according to the following procedures.
- gold Au (0.005 – 10 ppm) by 30g Fire Assay / AA where Au >3 g/t, automatically analyse a new 250g reject split for Au by 50g Fire Assay / Gravimetric finish
- Ag (3 – 10,000 g/t) by 30g Fire Assay / Gravimetric finish
- Assay Grade, 0.5g Aqua Regia (Partial) Digestion with ICP-OES analysis for the following four elements and detection limits: As (0.01%), Cu (0.001%), Pb (0.003%), Zn (0.001%)
All samples were then treated by “Gold by Metallic Screen Fire Assay”. This entails a representative 1000g of pulverized sample sieved at 100 mesh (150 micron), with assays performed on the entire +100 mesh fraction and two splits of the -100 mesh fraction. A final assay is calculated based on the weight of each fraction.
The Qualified Person for the Electrum exploration program is Alex Burton, P. Eng., P. Geo. for the purposes of National Instrument 43-101.
About the Company
Tudor Gold is focused on being 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 Company has a 60% interest in both the Electrum and Treaty Creek properties, 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.
Walter Storm, President and Chief Executive Officer
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 Electrum property 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.
Aris Morfopoulos
Chief Financial Officer and Corporate Secretary
604-721-2650
[email protected]
www.tudor-gold.com
