After an expanded mineral resource estimate, latest drill campaign begins this week on one of the world’s biggest gold projects
Tudor Gold Corp. (TSXV: TUD) (FRA: H56) is kicking off its 2023 drill program this week at its flagship Treaty Creek gold-copper project in the Golden Triangle of Northwest British Columbia after a significant updated Mineral Resource Estimate in March revealed big increases in both gold and copper.
Treaty Creek, one of the largest gold discoveries in the last 30 years, was named this year to the Mining Intelligence top ten biggest gold projects in the world ranking.
The prime company’s flagship project Treaty Creek, in which Tudor Gold holds a 60% interest, comprises 17,913-hectares which borders both Seabridge Gold’s KSM property to the southwest and Newcrest Mining’s Brucejack property to the southeast
BC’s Golden Triangle has been a hotbed of merger and acquisition activities in recent years. Total transaction value sits at C$4.35 billion ($3.39bn) since 2018, with majors Newmont and Newcrest acquiring assets and interests in the mineral rich and highly prospective region.
The updated Mineral Resource Estimate (MRE) resulted in a 53% increase in the gold equivalent grade and a 20% increase in total gold equivalent ounces in the Indicated category. In addition to the gold and silver, Tudor delineated a total mineral resource of 3 billion pounds of copper.
The MRE (at a 0.5 g/t AuEQ cut-off for open pit and a 0.7 g/t AuEQ cut-off for underground) reported an 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 of copper (Cu) at 0.15 %. The Inferred Mineral Resource includes 7.35 Moz AuEQ within 233.90 Mt at a grade of 0.98 g/t AuEQ; is 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 %.
To further highlight the robust nature of the updated MRE (at a 1.0 g/t AuEQ sensitivity cut-off) for all Indicated Mineral Resources (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 %.
“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,” says Tudor Gold CEO Ken Konkin, P. Geo.
“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,” Konkin adds. “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.”
This year’s exploration program will total a minimum of 20,000 meters at the Goldstorm Deposit and will target the north and northeast mineral extensions.
In addition, the company plans to carry out exploration drilling at the Perfectstorm Zone, which is located approximately 2.5 kilometers southwest of the Goldstorm Deposit and approximately 2.5 kilometers northeast from Seabridge Gold’s Iron Cap Deposit near the southwestern boundary of the Treaty Claim block.
The company recently completed a C$18.5 million capital raise and is fully funded for the 2023 exploration season.
Tudor’s ESG metrics are solid: The company signed an agreement for engagement and opportunity sharing with Tahltan Central Government, which represents the interests of the Tahltan Nation, on whose traditional territory the project is hosted.
Gold has a successful track record for over 5,000 years as a meaning of exchange and store of value worldwide. Investors are also using gold as a rescue boot in times of high inflation and instability of financial markets.
As of May 1,2023, Tudor Gold has a market cap of C$397 million ($297m) based on a share price of C$1.36. The company has 218.56 million shares outstanding. The two largest shareholders are Tudor Holdings (25.3 %) and renowned investor Eric Sprott (17.4 %).
The preceding Joint Venture Article is PROMOTED CONTENT sponsored by Tudor Gold Corp. and produced in co-operation with MINING.com. Visit: www.tudor-gold.com for more information.
Comments