Vancouver, British Columbia–(Newsfile Corp. – November 29, 2017) – Tudor Gold Corp. (TSXV: TUD) (FSE: TUC) (the “Company” or “Tudor Gold”) is pleased to report that during the 2017 field season an access road to the Electrum property has been completed. In 2015/16 the access road from the end of the Granduc Mine Road to the Electrum property was refurbished and upgraded over a 3.5 kms distance. This past summer Tudor invested $270,000 to complete a new 700 metre extension into the Electrum Project. The property is now connected by road to an all season deep water port at Stewart, BC. Additional important infrastructure includes Long Lake Hydro Power infrastructure, Stewart Airport and Highway 37.
Walter Storm, President and CEO stated, “We are very pleased to have completed this access road, which will now allow us to proceed with a 10,000 ton bulk sample of this high grade gold/silver mineralized zone, subject to receipt of permits. A bulk sample in combination with past drill results will further our geological understanding and unlock value of this high grade mineralized system.”
Background on the Electrum Property
The Electrum property is a 60:40 joint venture between Tudor Gold (as operator) and American Creek Resources Ltd. It is located between the past producing Premier gold mine (in the 1920’s North America’s greatest dividend payer), and British Columbia’s newest gold mine, the Valley of the Kings. Recently commissioned at a cost of $1 Billion dollars, it hosts proven and probable reserves of 8.1 million ounces of gold (see www.pretivm.com). Within this area are several other past producing mines as well as new projects undergoing exploration.
One portion of the Electrum property includes the historic East Gold mine which was hand mined between 1939 and 1965, producing 3,816 oz of gold and 2,442 oz of silver from 45 tons of selected ore (BC Ministry of Mines Assessment Report 30206). These historic production values have not been independently verified by Tudor Gold.
Due to a serious back-log of assays involving multiple exploration companies, Tudor is still waiting for approximately 40% of outstanding assays from the two separate areas drilled this year on the property, the Copper Belle and GR2 (HC) zones. Representatives from Tudor have visited the Laboratory and made these concerns known.
About Tudor Gold
Tudor Gold is a significant explorer in British Columbia’s Golden Triangle, an area which hosts multiple past-producing mines and several large deposits that are approaching potential development. The Company has a 60% interest in both the Electrum and Treaty Creek properties, and a 100% interest in the Mackie, Eskay North, Orion, Fairweather, Delta and the High North properties, all of which are located in the Golden Triangle area.
President and Chief Executive Officer
For further information, please visit the Company’s website at www.tudor-gold.com or contact:
CHF Capital Markets
Tel: 416-868-1079 x 231
Email: [email protected]
Cautionary Statements regarding Forward-Looking Information
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially.
All statements including, without limitation, statements relating to the potential mineralization and geological merits of the Treaty Creek property and other future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. 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. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
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