Vancouver, British Columbia, Canada – March 15, 2023 – Tudor Gold Corp. (TSXV: TUD) (FRA: H56) (“Tudor Gold” or the “Company“) 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 initial Mineral Resource Estimate for the Project was included in a technical report entitled “Technical Report and Initial Mineral Resource Estimate of the Treaty Creek Gold Property, Skeena Mining Division, British Columbia, Canada”, dated April 23, 2021, with an effective date of March 1, 2021. (the “2021 MRE”).
Highlights of the Updated Mineral Resource Estimate on the Goldstorm Deposit at the Project (“MRE”):
Indicated Mineral Resource of 23.37 million ounces (Moz) of gold equivalent (AuEQ) within 641.93 million tonnes (Mt) at a grade of 1.13 g/t AuEQ; comprised of:
18.75 Moz of gold (Au) at 0.91 g/t, 112.44 Moz of silver (Ag) at 5.45 g/t, and 2.18 billion pounds (Blbs) of copper (Cu) at 0.15 %.
Inferred Mineral Resource of 7.35 Moz AuEQ within 233.90 Mt at a grade of 0.98 g/t AuEQ; comprised of:
5.54 Moz Au at 0.74 g/t, 45.08 Moz Ag at 5.99 g/t, and 848.00 million pounds (Mlbs) of Cu at 0.16 %.
CS-600 Domain is comprised of an intrusive hosted gold-copper porphyry system and hosts an Indicated Mineral Resource of 9.86 Moz of AuEQ within 278.02 Mt at a grade of 1.10 g/t AuEQ; comprised of:
6.22 Moz Au at 0.70 g/t; and 1.98 Blbs of Cu at 0.32 %.
A 1.0 g/t sensitivity cut-off for all the Indicated Mineral Resource (open-pit and underground) measures 15.18 Moz of AuEQ at a grade of 1.48 g/t AuEQ; comprised of:
12.29 Moz of Au at 1.20 g/t, 72.07 Moz of Ag at 7.02 g/t and 1.35 Blbs of Cu at 0.19 %.
Improved the definition and spatial continuity of the Goldstorm porphyry system which is comprised of six separate mineral domains over an area that measures approximately 2,500 m in length, 1,000 m in width and 1,400 m in depth.
The Goldstorm Deposit remains open to the south, north, northeast and at depth.
Commenting on the results, Ken Konkin, President & CEO of Tudor Gold, “We are very pleased by the results of our updated MRE for the Goldstorm Deposit, which resulted in an impressive 53 % increase in the gold equivalent grade and a 20 % increase in total gold equivalent ounces within the
Indicated Mineral Resource category. The updated MRE utilizes higher cut-off grades (Pit: 0.50 g/t AuEQ, Underground: 0.70 g/t AuEQ) than the 2021 MRE (Pit: 0.30 g/t AuEQ, Underground: 0.46 g/t AuEQ). These higher cut-off grades exemplify the robust nature of this deposit, including the mineral consistency and thickness of the higher-grade gold and copper mineralized domains that were intercepted during the Company’s 2021 and 2022 drill programs. Even at these higher cut-off grades, the overall project-wide contained copper in both the Indicated and Inferred Mineral Resource categories increased to more than double that of the previous MRE, to over 3 billion pounds of copper. These accomplishments are a culmination of two additional years of drilling and refining of our geologic understanding to vector towards higher-grade gold, copper, and silver. These improvements to the Goldstorm Deposit are expected to provide an excellent foundation as the Company advances the Treaty Creek Project towards an initial economic assessment. Continued definition and expansion drilling will continue in 2023 to target higher gold, silver and copper grades throughout the northern expansion area of the Goldstorm Deposit.”
Updated Mineral Resource Estimate for the Goldstorm Deposit
The MRE was prepared by Garth Kirkham, P.Geo, based on 201 diamond drill holes (148,474 meters) completed between 2007 and 2022. The MRE included 62,916 meters of diamond drill holes that were completed since the 2021 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.
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