The Company has safely and successfully completed the 2023 drilling program with a total of 31,904 meters (m) drilled within areas encompassing the Goldstorm Deposit (the Deposit) and the
An enriched core of mineralization occurs within the 300H and CS-600 domains. Drill hole GS-23-178-W1 demonstrates this well; the gold-dominant 300H domain cut an impressive intercept of 138 m grading 1.67 g/t AuEQ which contains a center core of mineralization that averages much higher; 3.08 g/t AuEQ over 57 m. Down hole within the CS-600 domain, we intersected a much more impressive 258 m averaging 2.00 g/t AuEQ with an enriched center portion averaging 3.19 g/t AuEQ over 66 m. It's important to note that we are still encountering incredibly long drill hole intercepts such as 570 m that averaged 1.21 g/t AuEQ within the CS-600 domain in hole GS-23-178-W1. However, we are focussed on developing areas with the highest gold and copper grades of the Deposit and expanding the Au-Cu CS-600 domain as a priority. We are confident that the copper content will be an important factor as we advance this project. Within the DS5 domain, our last hole GS-23-180 was unfortunately lost due to ground conditions and was abandoned in strong mineralization at depth. The final 4.75 m averaged 2.31 g/t AuEQ. A significant intercept was encountered higher in the upper part of the domain averaging 1.01 g/t AuEQ over 201 m and similarly had an enriched central portion that averaged much higher: 1.82 g/t AuEQ over 81.5 m. Hole GS-23-178-W1 increases the drilling density in a significant area of the CS-600 domain that is characterized as Inferred Mineral Resources and will support potentially converting that to Indicated Mineral Resources whereas GS-23-180 was a step-out exploration drill hole, outside the current resource model to the northeast and will add overall ounces to the next mineral resource estimate.
Our technical team and consultants are currently updating the geological and resource model. Once our final interpretation is complete, we will plan the 2024 drill hole program. The goal is to close-off and completely constrain the entire Goldstorm Deposit so we can determine the location, shape, size and grade of all mineralized domains. When the Deposit is completely drilled-off and we have competed the final resource estimate, we plan to proceed with a Preliminary Economic Study (PEA). The Goldstorm Deposit remains open in all directions and at depth.'
Section A
GS-23-178-W1: Was drilled to target the CS-600 domain where the current Mineral Resource Estimate is categorized as Inferred mineral resources. The hole first intersected the 300H domain with 138.0 m grading 1.67 g/t AuEQ (1.60 g/t Au, 5.81 g/t Ag, 0.01 % Cu) and then successfully intersected the CS-600 domain with an overall interval of 570.0 m grading 1.21 g/t AuEQ (0.75 g/t Au, 8.09 g/t Ag, 0.31 % Cu) including 258.0 m grading 2.00 g/t AuEQ (1.30 g/t Au, 14.28 g/t Ag, 0.47 % Cu) and 66.0 m grading 3.19 g/t AuEQ (1.99 g/t Au, 24.46 g/t Ag, 0.80 % Cu).
Section B
GS-23-180: This hole was drilled as a 175 m northern step-out on the DS5 domain. The hole successfully intercepted characteristic Au-Ag mineralization with a 201.0 m intercept of DS5 grading 1.01 g/t AuEQ (0.92 g/t Au, 4.93 g/t Ag, 0.04 % Cu) including an 81.5 m intercept grading 1.82 g/t AuEQ (1.64 g/t Au, 9.36 g/t Ag, 0.07 % Cu). This hole was lost within well mineralized fractured ground over the final 4.75 m that averaged 2.31 g/t AuEQ (2.17 g/t Au, 11.85 g/t Ag, 0.02 % Cu).
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Contact:
Tel: (604) 559 8092
Email: chris.curran@tudor-gold.com
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This news release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation. 'Forward-looking information' includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including the completion and anticipated results of planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as 'plans', 'expects', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes' or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur' or 'be achieved' or the negative connation thereof.
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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.
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