Tudor Gold launching PEA at Golden Triangle, B.C., project
Tudor Gold Corp. [TUD-TSXV, TUC-Frankfurt] has announced a strategic plan for the next 12 months that is focused on advancing the Treaty Creek gold-copper project, which is located in the Golden Triangle region of British Columbia.
A key objective is the completion of a preliminary economic assessment (PEA) by the second quarter of 2025. The company will also continue with ongoing exploration and definition drilling program in the third quarter of 2024 and report on results.
In addition, Tudor Gold plans to advance the metallurgical program and provide the results of this test work in 2024, while proceeding with preliminary permitting and environmental requirements.
The 17,913- hectare Treaty Creek property is held 60% by Tudor Gold, in a joint venture with American Creek Resources Ltd. [AMK-TSXV] Teuton Resources Corp. [TUO-TSXV] each holding a 20% interest.
Tudor Gold shares were unchanged at 72 cents and trade in a 52-week range of $1.31 and 70 cents. American Creek shares were also unchanged at 17.5 cents. Teuton was priced at $1.26.
Treaty Creek hosts the Goldstorm Deposit, comprising a large gold-copper porphyry system, as well as several other mineralized zones. Goldstorm hosts an indicated resource of 27.87 million ounces of AuEq (gold equivalent), grading 1.19 g/t AuEq, (21.7 million ounces of gold, grading 0.92 g/t, 2.87 billion pounds of copper grading 0.18%, and 128.7 million ounces of silver, grading 5.48 g/t. On top of that is an inferred resource of 6.03 million ounces of AuEq, grading 1.25 g/t AuEq (4.88 million ounces of gold, grading 1.01 g/t, 503.2 million pounds of copper, grading 0.15%, 28.9 million ounces of silver, grading 6.02 g/t.
The Goldstorm deposit has been categorized into three dominant mineral domains and several smaller mineral domains. For example, the CS-600 domain hosts the majority of the copper mineralization within the Goldstorm Deposit.
Tudor Gold said it plans to launch the PEA for the Goldstorm Deposit in the next quarter. The PEA is expected to detail a phased production strategy focused on exploring high-grade areas or supercells of the deposit to maximize the internal rate of return.
The PEA is expected to establish work programs to guide the company towards subsequent stages, including a detailed pre-feasibility study to be completed in the future.
On May 9, 2024, Tudor Gold launched a 10,000-metre diamond drilling program at Goldstorm. The aim is to expand and upgrade the estimated mineral resource. To date, approximately 4,000 metres of drilling, including two drill holes have been completed on schedule. The first hole intersected fine-to-medium-grained visible native gold at 810.5 metres.
The strategic plan outlined Tuesday is led by Tudor Gold President and CEO Ken Konkin. The highly experienced geologist made his mark in the Golden Triangle area where Tudor’s flagship Treaty Creek project is located by leading the discovery of the “Valley of Kings deposit” on the nearby Brucejack gold mine.