Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Tudor Gold (TSXV: TUD) announced that, with the support of only essential personnel and taking extreme measures to maintain health and safety protocols due to the covid-19 pandemic, it has kick-started this season’s 20,000-metre diamond drill hole program at its flagship Treaty Creek property in British Columbia, Canada.
In a press release, Tudor said drilling has begun with two drill rigs on the Goldstorm Zone which is on-trend from Seabridges’ KMS project located just five kilometres to the southwest. The goal is to continue to expand this system to the southeast and to the northeast.
Tudor Gold also announced that it is buying American Creek’s 40% interest in the Electrum project joint venture located near Stewart, British Columbia
“The current known length of the northeast axis of the Goldstorm System is over 850 metres, and the southeast axis is at least 600m; the system remains open in both dimensions, as well as to depth,” the company’s VP of project development, Ken Konkin, said in the media brief.
“The strongest mineralization encountered to date is from two consecutive 150m step-out holes at the northeast end of the drill grid: GS-19-42 yielded 0.849 g/t Au Eq over 780 m with the 300 Horizon averaging 1.275 g/t Au Eq over 370.5m and GS-19-47 yielded 0.697 g/t Au Eq over 1,081.5m with the 300 Horizon averaging 0.867 g/t Au Eq over 301.5m. Our program will be focused on expanding the mineralized area from these two very encouraging step-out holes.”
The 17,913-hectare Treaty Creek project is located in the heart of the Golden Triangle of northwestern British Columbia. Tudor holds a 60% interest in the property, while American Creek Resources (TSXV-AMK) and Teuton Resources (TSXV-TUO) each hold a 20% interest carried through to a production decision.
