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Tudor Gold’s previous MRE for the Project was included in a technical report entitled “NI 43-101 Technical Report,
Highlights of the 2024 Updated Mineral Resource Estimate for the Goldstorm Deposit:
Increased the Indicated Mineral Resource by 19% in gold equivalent ounces (AuEq), consisting of a 16% increase in gold (Au), 14% increase in silver (Ag) and 32% increase in copper (Cu).
Indicated Mineral Resource of27.87 million ounces (Moz) of AuEqwithin730.20 million tonnes (Mt)at agrade of 1.19 g/t AuEq; comprised of:
21.66 Moz of Auat 0.92 g/t,128.73 Moz of Agat5.48 g/t, and2.87 billion pounds (Blbs) of Cuat0.18%
Inferred Mineral Resource of6.03 Moz of AuEQwithin149.61 Mtat agrade of 1.25 g/t AuEq; comprised of:
4.88 Moz of Au at 1.01 g/t, 28.97 Moz of Ag at 6.02 g/t, and 503.23 million pounds (Mlbs) of Cu at 0.15%.
The CS-600 domain, comprised of a monzodiorite intrusive stock and associated gold-copper porphyry system, constitutes a large part of the deposit with an Indicated Mineral Resource of15.65 Moz of AuEq within 400.29 Mt at a grade of 1.22 g/t AuEq; consisting of:
9.99 Moz of Au at 0.78 g/t; and 2.73 Blbs of Cu at 0.31%
An 58% increase in the AuEQ ounces within the CS-600 domain.
The 2023 drilling improved our geologic understanding of the mineralization in the northern portion of the deposit. The NS-STK Domain was reinterpreted to be a NE-SW trending stockwork and is associated with the 300H Domain mineralization. This system has now been separated into its own mineral domain, named 300-N.
Advanced metallurgical studies and refined the pit constrained and underground cutoff grades, increasing the pit constrained cutoff from 0.5 to 0.7 g/t AuEq and the underground cutoff from 0.7 to 0.75 g/t AuEq.
Substantially reduced the pit size which eliminated the necessity to remove the glacier and reduced the strip ratio.
The Goldstorm Deposit remains open to the south, north, northeast and at depth.
Commenting on the results,
Tudor Gold is also pleased to announce the signing of a Memorandum of Understanding with the Tsetsaut Skii km Lax
Updated Mineral Resource Estimate for the Goldstorm Deposit
The MRE was prepared by
Table 1: Summary of Indicated and Inferred Mineral Resources as of
Tonnage (Mt) | AuEq (g/t) | Au (g/t) | Cu (%) | Ag (g/t) | AuEq (Moz) | Au (Moz) | Cu (Mlb) | Ag (Moz) | |
Indicated Mineral Resource | |||||||||
Pit | 68.94 | 1.06 | 1.03 | 0.02 | 3.69 | 2.36 | 2.28 | 29.33 | 8.19 |
Underground | 661.25 | 1.20 | 0.91 | 0.20 | 5.67 | 25.51 | 19.38 | 2842.74 | 120.54 |
Combined | 730.20 | 1.19 | 0.92 | 0.18 | 5.48 | 27.87 | 21.66 | 2872.07 | 128.73 |
Inferred Mineral Resource | |||||||||
Pit | 0.35 | 0.82 | 0.79 | 0.01 | 3.06 | 0.01 | 0.01 | 0.09 | 0.03 |
Underground | 149.26 | 1.25 | 1.01 | 0.15 | 6.03 | 6.02 | 4.87 | 503.15 | 28.94 |
Combined | 149.61 | 1.25 | 1.01 | 0.15 | 6.02 | 6.03 | 4.88 | 503.23 | 28.97 |
(1) Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.
(2) The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.
(3)
(4) The Mineral Resource Estimate was prepared for a potential open pit scenario using a constrained pit shell (with 45-degree slopes) at a 0.7 g/t gold equivalent cut-off grade and an underground mining scenario using a 0.75 g/t gold equivalent cut-off grade. Cut-off grades were derived from
(5) AuEq g/t = Au g/t + (Ag g/t*0.01009) + (Cu ppm*0.0001236)
(6) A mineral estimate of the material within the defined pit that exists outside of the outlined mineral domains was completed and is included within the Inferred Mineral Resource.
The Goldstorm sensitivity tables (Tables 2,3,4 and 5) report the variation of resource grade and tonnage with respect to the change in cut-off grades for the Indicated and Inferred Mineral Resources.
Table 2: Indicated Mineral Resource Cutoff Sensitivity – Pit Constrained1
Pit Cutoff | Tonnage (Mt) | AuEq g/t | Au g/t | Cu % | Ag g/t | AuEq Moz | Cu Mlb | ||
0.4 | 95.63 | 0.93 | 0.89 | 0.02 | 3.20 | 2.85 | 2.75 | 36.33 | 9.84 |
0.5 | 88.61 | 0.96 | 0.93 | 0.02 | 3.33 | 2.74 | 2.65 | 34.51 | 9.48 |
0.6 | 80.07 | 1.01 | 0.97 | 0.02 | 3.49 | 2.59 | 2.50 | 32.35 | 8.98 |
0.72 | 69.29 | 1.06 | 1.03 | 0.02 | 3.69 | 2.37 | 2.29 | 29.42 | 8.22 |
0.8 | 57.16 | 1.13 | 1.09 | 0.02 | 3.92 | 2.08 | 2.00 | 25.43 | 7.21 |
0.9 | 44.84 | 1.21 | 1.16 | 0.02 | 4.20 | 1.74 | 1.68 | 21.14 | 6.05 |
(1) Refer to footnotes to the Mineral Resource Estimate in Table 1 of this News Release.
(2) The MRE utilizes 0.7 g/t AuEQ for the pit constrained Mineral Resource
Table 3: Indicated Mineral Resource Cutoff Sensitivity – Underground1
UG Cutoff | Tonnage (Mt) | AuEq g/t | Au g/t | Cu % | Ag g/t | AuEq Moz | Cu Mlb | ||
0.5 | 810.32 | 1.10 | 0.84 | 0.18 | 5.18 | 28.60 | 21.85 | 3 129.85 | 135.06 |
0.6 | 766.70 | 1.13 | 0.86 | 0.18 | 5.34 | 27.82 | 21.21 | 3 066.17 | 131.51 |
0.7 | 700.73 | 1.17 | 0.89 | 0.19 | 5.55 | 26.43 | 20.10 | 2935.20 | 124.99 |
0.752 | 661.25 | 1.20 | 0.91 | 0.20 | 5.67 | 25.51 | 19.38 | 2 842.74 | 120.54 |
0.8 | 618.58 | 1.23 | 0.93 | 0.20 | 5.79 | 24.45 | 18.55 | 2 734.31 | 115.19 |
0.9 | 525.43 | 1.30 | 0.98 | 0.21 | 6.04 | 21.91 | 16.59 | 2 465.04 | 101.98 |
1.0 | 428.72 | 1.37 | 1.04 | 0.23 | 6.28 | 18.95 | 14.37 | 2 126.64 | 86.49 |
(1) Refer to footnotes to the Mineral Resource Estimate in Table 1 of this News Release.
(2) The MRE utilizes 0.75 g/t AuEQ for the underground Mineral Resource.
Table 4: Inferred Mineral Resource Cutoff Sensitivity – Pit Constrained1
Pit Cutoff | Tonnage (Mt) | AuEq g/t | Au g/t | Cu % | Ag g/t | AuEq Moz | Cu Mlb | ||
0.4 | 4.52 | 0.51 | 0.49 | 0.01 | 1.86 | 0.07 | 0.07 | 1.38 | 0.27 |
0.5 | 1.83 | 0.62 | 0.60 | 0.01 | 2.14 | 0.04 | 0.04 | 0.46 | 0.13 |
0.6 | 0.79 | 0.72 | 0.69 | 0.01 | 2.45 | 0.02 | 0.02 | 0.19 | 0.06 |
0.702 | 0.35 | 0.82 | 0.79 | 0.01 | 3.06 | 0.01 | 0.01 | 0.09 | 0.03 |
0.8 | 0.15 | 0.93 | 0.89 | 0.01 | 3.91 | 0.00 | 0.00 | 0.04 | 0.02 |
0.9 | 0.06 | 1.07 | 1.01 | 0.01 | 5.42 | 0.00 | 0.00 | 0.02 | 0.01 |
(1) Refer to footnotes to the Mineral Resource Estimate in Table 1 of this News Release.
(2) The MRE utilizes 0.7 g/t AuEQ for the pit constrained Mineral Resource
Table 5: Inferred Mineral Resource Cutoff Sensitivity – Underground1
UG Cutoff | Tonnage (Mt) | AuEq g/t | Au g/t | Cu % | Ag g/t | AuEq Moz | Cu Mlb | ||
0.5 | 173.86 | 1.17 | 0.95 | 0.14 | 5.58 | 6.53 | 5.29 | 542.37 | 31.17 |
0.6 | 166.84 | 1.19 | 0.97 | 0.15 | 5.73 | 6.40 | 5.18 | 536.27 | 30.74 |
0.7 | 157.10 | 1.23 | 0.99 | 0.15 | 5.91 | 6.20 | 5.01 | 518.84 | 29.84 |
0.752 | 149.26 | 1.25 | 1.01 | 0.15 | 6.03 | 6.02 | 4.87 | 503.15 | 28.94 |
0.8 | 140.68 | 1.28 | 1.04 | 0.16 | 6.17 | 5.80 | 4.70 | 482.89 | 27.89 |
0.9 | 121.32 | 1.35 | 1.10 | 0.16 | 6.45 | 5.27 | 4.28 | 432.48 | 25.17 |
1.0 | 101.26 | 1.43 | 1.17 | 0.17 | 6.80 | 4.66 | 3.81 | 369.91 | 22.14 |
(1) Refer to footnotes to the Mineral Resource Estimate in Table 1 of this News Release.
(2) The MRE utilizes 0.75 g/t AuEQ for the underground Mineral Resource.
The Goldstorm Deposit consists of six mineral domains with unique geological characteristics. Five of the domains are gold-dominant with lesser proportions of silver and copper. Domain CS-600 is dominantly gold and copper rich, with lesser silver. The CS-600 hosts the majority of the copper at the Goldstorm Deposit and consists of a well-defined intrusive porphyry system. Table 6 summarizes the Indicated and Inferred Mineral Resources for each mineral domain.
Table 6: Mineral Resources by Domain –
Indicated Mineral Resources | |||||||||
Domain | Tonnage (Mt) | AuEq (g/t) | Au (g/t) | Cu (%) | Ag (g/t) | AuEq (koz) | Au (koz) | Cu (Mlb) | Ag (Moz) |
300H | 184.86 | 1.08 | 1.05 | 0.02 | 3.76 | 6.44 | 6.22 | 92.28 | 22.32 |
300N | 11.62 | 1.51 | 1.46 | 0.01 | 4.55 | 0.56 | 0.55 | 2.64 | 1.70 |
CS-600 | 400.29 | 1.22 | 0.78 | 0.31 | 5.71 | 15.65 | 9.99 | 2725.13 | 73.47 |
DS5 | 124.75 | 1.22 | 1.14 | 0.02 | 7.60 | 4.89 | 4.59 | 48.68 | 30.47 |
R66 | 3.10 | 1.40 | 1.38 | 0.03 | 1.90 | 0.14 | 0.14 | 2.18 | 0.19 |
Copper Belle | 5.58 | 1.02 | 0.99 | 0.01 | 3.27 | 0.18 | 0.18 | 1.36 | 0.59 |
Inferred Mineral Resources | |||||||||
300H | 0.09 | 1.04 | 0.98 | 0.03 | 6.16 | 0.00 | 0.00 | 0.07 | 0.02 |
300N | 2.31 | 1.75 | 1.72 | 0.01 | 3.12 | 0.13 | 0.13 | 0.44 | 0.23 |
CS-600 | 74.03 | 1.20 | 0.79 | 0.29 | 5.63 | 2.86 | 1.87 | 475.62 | 13.40 |
DS5 | 72.83 | 1.29 | 1.22 | 0.02 | 6.53 | 3.02 | 2.87 | 27.13 | 15.29 |
In Pit, External2 | 0.35 | 0.10 | 0.09 | 0.01 | 0.88 | 0.00 | 0.00 | 0.05 | 0.01 |
(1) Refer to footnotes to the Mineral Resource Estimate in Table 1 of this News Release.
(2) A mineral estimate of the material within the defined pit that exists outside of the outlined mineral domains was completed and is included within the Inferred Mineral Resource.
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Figure 1: Goldstorm Deposit MRE Domains
Metallurgical Studies Update
In the flotation tests, emphasis was placed on the CS-600 domain to produce a copper concentrate and a pyrite/gold concentrate as the CS-600 area had previously only received preliminary test work. Metallurgical results from the CS-600 domain include:
Flotation testing of the CS-600 produced a concentrate of approximately 20% copper and 25 g/t gold;
Flotation recoveries for the CS-600 domain achieved 79.5% and 65.3% for copper and gold respectively;
Flotation recoveries of the 300H, and DS5 domains demonstrate that gold can be concentrated prior to oxidation and cyanide leaching to improve the economics of recovery; and
Whole ore leach recoveries of 81.1% gold on the CS-600 sample.
The next phase of metallurgical test work will build upon the results that have already been achieved with a program that will provide information to be used in a Preliminary Economic Assessment. The test work will include comminution, follow up flotation tests, alternate forms of oxidation, and leaching tests to recover copper and gold. The flotation tests will target reducing the amount of non-sulphide gangue that is entrained in the flotation concentrates to improve the concentrate grades achieved thus far.
Qualified Persons
The Goldstorm MRE was prepared under the supervision of
About Treaty Creek
Teuton was the original staker of the Treaty Creek property, host to the large Goldstorm deposit, assembling the core land position in 1985. It presently holds a 20% carried interest in the
About Teuton
Teuton owns interests in more than thirty properties in the prolific “Golden Triangle” area of northwest
On Behalf of the Board of Directors of
"
President and Chief Executive Officer
For further information, please visit the Company's website at www.teuton.com or contact:
Tel. 778-430-5680
Email: bholmesmba@gmail.com
Neither the
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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.
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