Mr. Aris Morfopoulos reports
TUDOR GOLD CORP. ANNOUNCES ANOTHER NEW PROPERTY ACQUISITION IN GOLDEN TRIANGLE AREA, BRITISH COLUMBIA
Tudor Gold Corp. has entered into an option agreement for the right to acquire a 100-per-cent interest in a property located in the Golden Triangle area in the Skeena mining division. The property is commonly known as the Orion property. The optionor is arm's length to the company. The proposed option agreement is subject to TSX Venture Exchange approval.
The 3,154.5-hectare Orion property is located west of Tudor Gold's recently acquired Delta/Fairweather properties and immediately south of Tudor Gold's High North property in the Skeena mining division, approximately 50 kilometres north-northwest of Stewart, B.C.
The Orion property has been subjected to intermittent prospecting programs from 1995 to 2007 and a small diamond drill program in 2007. A float sample collected in 2006 on the Orion property returned 6.02 grams per tonne gold and 20.3 grams per tonne silver, but its source could not be determined. The eastern portion of the Orion property hosts the Cat-in-the-Hat showing, where a 1994 trench returned 2.2 grams per tonne gold and 1.36 per cent arsenic over 13 metres and grab samples returned 10 parts per billion gold to 47.5 grams per tonne gold (British Columbia assessment report 23885). A five-hole diamond drill program targeting the Cat-in-the-Hat showing was completed in 2007. Holes OR2007-1 and OR2007-2 were drilled from the same site and returned significant mineralization (see attached table), while three holes drilled approximately 100 metres to the east from the same drill pad failed to encounter any significant mineralization.
2007 ORION DIAMOND DRILL RESULTS
Drill hole From To Interval* Arsenic Gold
(m) (m) (m) (ppm) (g/t)
OR2007-01 6.8 12.8 6 1681 0.72
20.4 23.4 3 6176 2.88
OR2007-02 75.3 78.3 3 1952 0.52
96.6 99.6 3 3853 0.78
Teuton Resources Corp. press release dated Feb. 28, 2008;
all intervals are downhole intervals as true widths
have not been determined.
The company has been granted an option, subject to exchange approval, to acquire a 100-per-cent interest in the property by making option payments totalling $700,000 over a five-year period and the issuance of up to 700,000 shares in the capital of the company over a five-year period, with an initial issuance of 250,000 shares upon the company receiving exchange approval. The property is subject to a 2.5-per-cent net smelter return royalty.
The foregoing technical disclosure and scientific information, including results of the previous exploration, has been reviewed, compiled and approved by Richard A. Graham, PGeol, who is a qualified person for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects.
The company will pay no finders' fees in connection with the proposed acquisition. The shares issued in connection with the Orion property will be subject to a statutory hold period of four months and a day from the date of issue.
We seek Safe Harbor.
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