Tudor Gold (TUD) - Higher Grade Results Show Improved Understanding

Tudor Gold Corp. is a Canadian exploration and development company focused on advancing its flagship project, the Treaty Creek project, located within the Golden Triangle of northwestern British Columbia.

The Treaty Creek project is a 17,913-hectare land package bordering the KSM project, owned by Seabridge Gold, to the southwest and the Brucejack project, owned by Newcrest Mining Ltd. to the southeast. The project holds a mineral resource estimate (MRE) which shows an indicated mineral resource of 23.37 million ounces (Moz) of gold equivalent (AuEq) hosted in 641.93 million tons of mineralisation with an average grade of 1.13 g/t AuEq. The inferred mineral resource component of the mineral resource estimate is 7.35 Moz AuEq hosted within 233.90 million tons of mineralisation at an average grade of 0.98 g/t AuEq.

Tudor Gold Corp. believes that the gradual decline of its share price over the last two years can be accredited to both the systemic decline in the base and precious metals sphere as well as a lack of publicity. The company believes that it will be able to negate the negative market and publicity effect through the publishing of its exploration results. The company at the start of October 2022, announced assay results from its ongoing 2022 exploration program. The results include highlights of 1.62 g/t AuEq over 136.5 m as well as 57 m at a grade of 4.38 g/t AuEq.

The company closed a brokered private placement offering, with a non-brokered portion, in September 2022, for the aggregate gross proceeds to the company of CAD$ 7.75 million. Tudor Gold Corp. plans to implement the raised funds towards its ongoing exploration initiatives as well as metallurgical test work.

Management team

Tudor Gold Corp. is led by Ken Konkin, who serves as the president and CEO of the company. Konkin is a professional geologist with more than 35 years of geological experience throughout North and South America as well as Russia. Konkin spent 19 years with Silver Standard and in this time managed advanced exploration programs in Argentina, Peru and the Golden Triangle for the company.  Konkin was instrumental in the discovery of The Valley of Kings deposit at the Brucejack Lake Mine, an 8 Moz gold deposit currently in production.

Scott Davis is the Chief Financial Officer and Secretary of Tudor Gold Corp. He has over 20 years of experience in the finance and accounting of publicly traded companies. Natalie Senger is a Professional Geologist and serves as the Vice President of Resource Development for the company. She has been involved with the discovery and delineation of the Snowfield Deposit with Silver Standard Resources, as well as the discovery, development, and permitting of the Valley of the Kings Deposit at the now-active Brucejack Mine. Francis Murphey is the Corporate Secretary of Tudor Gold Corp. and has more than 20 years of experience providing accounting, management, and corporate secretary services for publicly listed TSX V. and CSE companies.

Carsten Ringler is the Head of Investor Relations and Communications for Tudor Gold Corp. Ringler started his career as a commodity trader before becoming managing director of Ringler Consulting and Research GmbH. Chris Curran is the Head of Corporate Development and Communications of Tudor Gold Corp. He has more than 20 years of experience in business development, communications, and capital markets in the mining and exploration sector.  Joseph Ovsenek and Ken McNaughton are Advisory Board Members. Ovsenek has more than 20 years of experience in the precious metals industry and has managed publicly traded companies from the early exploration stage to production. McNaughton is a professional geological engineer with more than 30 years of global experience developing and leading mineral exploration programs and is currently the CEO at P2 Gold Inc.

The directors of Tudor Gold Corp. consist of Helmut Finger, Sean Pownall and Ronald-Peter Stöferle. Finger has more than 40 years of experience in wholesale trading and is well-versed in the financing of commodity exploration programs. Pownall has been involved in the mineral exploration industry for more than 30 years and has worked on various mineral projects in Canada and the United States ranging from grassroots exploration to production mining. Stöferle is a seasoned economist and in 2007 published the well-known publication “In Gold We Trust” report.

The management team of the company is tasked with advancing its Treaty Creek project located in British Columbia.

Treaty Creek project

The Treaty Creek project is located within the highly prospective Golden Triangle in northwestern British Columbia. The property covers a land position of 17,913 hectares and is adjacent to the KSM project, owned by Seabridge Gold, to the southwest and the Brucejack project, owned by Newcrest Mining Ltd. to the southeast. The past-producing Eskay Creek mine, which was the highest-grade gold mine in the world when in production, is located 12 km to the west.

The Treaty Creek project benefits from excellent proximity to infrastructure, with the project situated approximately 20 km west of Highway 37 and a high-voltage power line as well as 40 km south of a maintained airstrip. The deep water ocean port facilities in Stewart, BC, are also conveniently located near the project site.

The project holds a mineral resource estimate (MRE) which shows an indicated mineral resource of 23.37 million ounces (Moz) of gold equivalent (AuEq) hosted in 641.93 million tons of mineralisation with an average grade of 1.13 g/t AuEq. The inferred mineral resource component of the mineral resource estimate is 7.35 Moz AuEq hosted within 233.90 million tons of mineralisation at an average grade of 0.98 g/t AuEq.

The Goldstorm deposit of the project extends over a strike length of 1,800 m, with a vertical depth of up to 1,400 m and is open in all directions and at depth. Exploration drilling has returned significant results from the Goldstorm zone, with highlights of the drilling initiatives including 1.12 g/t AuEq over a mineral intercept of 1,497.0 m as well as 1.16 g/t AuEq over a mineral intercept of 930.0 m which included 348.0 m at a grade of 2.12 g/t AuEq.

The Treaty Creek project also hosts various exploration targets which include the Perfectstorm, Eureka, and Calm Before the Storm zones. Drill results from these zones have shown 0.72 g/t AuEq over a mineral intercept of 118.6 m at the Perfectstorm, zone 0.76 g/t AuEq over 217.5 m at the Eureka zone and 0.82 g/t of AuEq over 155.5 m of mineralisation at the Calm Before the Storm zone.

Addressing the share price decline

Tudor Gold Corp. has the last two years seen a decline in its share price. Ken Konkin accredits the decline in the company’s share price to a systemic decline within the gold sector. He compared it to previous experiences, such as the year 2000 with Silver Standard and 2008, where they were able to drill through similar situations. Despite the challenges, Tudor Gold Corp. is, according to Konkin, poised to come out of this harsh environment and is set up to become a large gold-silver-copper producer in Canada.

“I think everybody has a reason to sell. I wish I knew half of them, but honestly, it has been a systemic slide in the industry. Sometimes I feel like a kid coming to a landslide with a wheelbarrow, trying to bail us out. I've seen this before in the year 2000, with Silver Standard in 2008, we put our heads down and drilled through those things. We are poised to come out the back end of a very harsh environment.”

Konkin believes that another contributing factor to the decline in the share price of the company is not being well-known to investors.

“The first and foremost thing is how many people know who Tudor Gold is? Not very many. I still come across people who do not know what Pretium is, so something's happened in the industry where you don't have that mechanism of dissemination of information to everyone. Everybody's on the web, doing whatever, but the old-style promoters and brokers, tours, etc, those have ended.”

Konkin explains that the company will address the concerns about the project's low-grade ore, metallurgy, and recovery rates issues as they move forward. He states that the priority is to be able to quantify and find the end of the mineral resource and that despite the challenges, Tudor Gold Corp. is well-positioned to become a large producer of gold, silver, and copper. The company also holds signed agreements with the First Nations around the Treaty Creek project and is working closely with them.

Advancing the Treaty Creek project

Konkin believes that finding the end of the mineralisation system is the key to advancing the project. The project has seen a frequency of high-grade occurrences but quantifying the mineralisation is key to demonstrating the potential of the deposit.

“I think we've got something for everyone. The idea of the old saying that grade is king - well, to a degree it is. It comes with a whole host of problems and issues. For me, I think it's about continuing to find the end of the system and then identifying what will work. Will it be a medium grade within the low-grade envelope? Will it be a higher-grade sublevel block cave? Will it be a long holding or a wide stope approach? We don't know until we find the end of it”

Tudor Gold Corp. will focus on clearly defining the project scope in the future, which will enable it to be more clear and concise regarding the advancement of the project. Konkin states that the Treaty Creek project has shown both gold and copper mineralisation and as such may be advanced as either a polymetallic operation or as stand-alone and separate entities.

“Everybody was saying, let's get gold. 2018 was the end of a gold hit, and we said, we're here to get gold, not so much copper. Now it's like, are you kidding me? We're going back and realigning on holes and picking up our superstar 0.8 g over 400 m of copper, which is almost 50/50 in value of gold. That gold used to be 0.3 g, it is now hanging in there at 0.9 g, just on gold alone. Add on 0.3% copper, and one of the coppers is at 1.5 km composite, it is 0.7% component copper. There is no copper in the top half of it: it's all in the bottom 732 m. That thing is over 0.5%. It's 0.5% copper. It's a copper mine.”

The company will look to complete a preliminary economic assessment (PEA) of the Treaty Gold project in the future dependent on the results of the project’s exploration and advancement initiatives.

“We may get to such a large volume and grade that we could pull the trigger on a PEA that runs into feasibility sooner rather than later. I'm not saying it won't, I'm just saying, let's see what the engineers give to us as to what we need to find. It's like reverse engineering and saying, okay guys, this is great but you need more ounces in this range, or this is great but we need to find this. If that's what they hand us, then we go with it.”

Konkin believes that Tudor Gold Corp. is well prepared to advance its Treaty Creek project and increase the company’s share price value in the near future, thanks to its seasoned management team and its knowledge of advancing projects within the Golden Triangle.

“Everything is set to go. We are well prepared. This is not the first time we've done this up in the Triangle, we are an extremely well-prepared team.”

To find out more, go to the Tudor Gold website