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) says the first two drill holes completed at the Calm Before the Storm (CBS) zone confirm a significant gold-silver discovery at its flagship Treaty Creek property. Identified as a new mineralized zone, CBS grades strengthen with depth.
The Treaty Creek property is 10 km east of the former Eskay Creek gold mine and 70 km north of Stewart, in the Golden Triangle of British Columbia.
The property borders on Seabridge Gold’s KSM property to the southwest and Pretium Resources’ Brucejack gold mine to the southeast.
Hole CBS 21- 01 returned 19.25 metres grading 0.37 g/t gold and 0.67 g/t silver beginning at 14 meters below surface and 28.5 metres at 0.3 g/t gold and 12.67 g/t silver beginning at 141.5 metres.
Hole CBS 21-02 returned 155.5 metres grading 0.78 g/t gold and 2.34 g/t silver beginning at 150.5 metres below surface, including 53.9 metres at 1.24 g/t gold and 4.35 g/t silver beginning at 252.1 metres.
A 1.5-metre channel sample taken at CBS assayed 1.08 g/t gold and 14.54 g/t silver.
The Treaty Creek project is 60% owned and operated by Tudor with partners American Creek Resources (TSXV: AMK) and Teuton Resources (TSXV: TUO), each of which hole 20%.
The initial resource estimate had measured and indicated resources of 815.7 million tonnes grading 0.66 g/t gold, 3.6 g/t silver and 0.06% copper for 17.3 million oz. of contained gold and 93.4 million of contained silver. The inferred resource had 311.7 million tonnes grading 0.72 g/t gold, 4.0 g/t silver and 0.05% copper for 7.2 million oz. of contained gold and 40.6 million oz. of contained silver. There are also 1.1 billion lb. and 330.2 million lb. of copper contained in the respective resource categories.
Earlier in November, Tudor successfully raised C$15 million to continue work at Treaty Creek.
(This article first appeared in the Canadian Mining Journal)
