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Eureka moment adds to Treaty Creek potential

Tudor Gold has expanded the Goldstorm system at its flagship Treaty Creek joint venture in British Columbia and struck near-surface gold in its first drill hole at the Eureka zone.
Eureka moment adds to Treaty Creek potential Eureka moment adds to Treaty Creek potential Eureka moment adds to Treaty Creek potential Eureka moment adds to Treaty Creek potential Eureka moment adds to Treaty Creek potential

The camp at Tudor Gold’s Treaty Creek JV in BC

Ngaire McDiarmid

Reporter

President and CEO Walter Storm described the results from Goldstorm, which included 196.5m at 1.76g/t gold-equivalent within 564m at 1.09g/t Au-eq in a step-out hole, as exceptional.

At Eureka, 1km south-east, Tudor hit 67.5m at 1.13g/t Au-eq within 217.5m grading 0.76g/t Au-eq from 12.5m.

Storm said Eureka had been upgraded to a priority target.

"The geological potential of the Treaty Creek project is growing with each new drill hole," he said.

The company is aiming to determine the limits to the Goldstorm deposit.

An initial measured and indicated resource of 19.4 million ounces and an inferred 7.9Moz Au-eq for the Goldstorm and Copper Belle deposits was announced in March.

Tudor is also aiming to roll out a preliminary economic assessment, according to a presentation this month.

Storm and Eric Sprott hold a combined 50% of Tudor Gold.

The company owns 60% of Treaty Creek, which borders Seabridge Gold's KSM project to the south-west and Pretium Resources' Brucejack mine to the south-east.

Minor partners, TSX Venture Exchange-listed American Creek Resources and Teuton Resources, each hold 20% of Treaty Creek and are carried to a production decision.

Teuton invested C$9.6 million in Tudor at $3 per share and $3.60 per flow-through share in April.

Tudor since announced a $6 million placement, closing the first $1.5 million tranche in June and a $3.6 million tranche in July.

Its shares (TSXV: TUD) have ranged between $2.01-$3.78 over the past year.

They gained 2.3% yesterday to close at $2.22, capitalising it at $398.6 million (US$314.5 million).