Tudor Gold secures B.C. permit for Treaty Creek exploration
Tudor Gold Corp. [TUD-TSXV, TUC-Frankfurt] has received an exploration permit from the British Columbia Ministry of Mining and Critical Minerals for its flagship Treaty Creek property, which is located in the heart of the Golden Triangle.
Tudor Gold is in the process of applying for the necessary permits to advance underground development, including a proposed exploration ramp. Once constructed, the company said the ramp will provide cost-effective, year-round access to the recently discovered high-grade Supercell-One (SC-1) complex area, enabling continued high-impact exploration, and may also serve as critical infrastructure supporting the future development of the broader Goldstorm deposit.
Tudor Gold President and CEO Ken Konkin, said the proposed exploration ramp is expected to significantly reduce both the cost and time required to drill and define emerging high-grade gold targets by enabling the use of underground drill stations – delivering greater efficiency than conventional surface drilling.
“As highlighted in previous press releases, the 2024 drill results from SC-1 zone have confirmed the continuity and high-grade nature of the gold mineralization in a setting that is structurally and geologically analogous to Newmont Corp.’s [NGT-TSX, NEM-NYSE, ASX, PNGX] Brucejack gold deposit, located just south of Treaty Creek,” Konkin said. “With the underground drift in place, we plan to launch a focused drilling program of up to 25,000 metres to expand and further define the SC-1 and surrounding targets,’’ he said. “Importantly, none of the SC-1 drill results are included in the February, 2024, mineral resource estimate of 27.9 million ounces of gold equivalent (in the Goldstorm deposit) at an average grade of 1.19 g/t – underscoring the considerable upside potential of this high-grade system.’’
The 17,913- hectare Treaty Creek property is held 60% by Tudor Gold, in a joint venture with American Creek Resources Ltd. [AMK-TSXV] and Teuton Resources Corp. [TUO-TSXV] each holding a 20% interest. Amerian Creek has just raised $1.2 million via a non-brokered private placement of 13.3 million units.
Treaty Creek borders Seabridge Gold Inc.’s [SEA-TSX, SA-NYSE] KSM property to the southwest and borders Newmont’s Brucejack property to the southwest.
Treaty Creek hosts the Goldstorm Deposit, comprising a large gold-copper porphyry system, as well as several other mineralized zones.
The company has previously said a key objective is the completion of a preliminary economic assessment (PEA) by the second quarter of 2025.
Tudor Gold shares eased 1.7% or $0.01 to 59 cents on Friday. The shares trade in a 52-week range of $1.16 and 54 cents.