Business
Tudor Gold Announces Sale of the Eskay North Property to Skeena Resources and Provides Corporate Update on Its Treaty Creek Project, Located in the Golden Triangle of British Columbia
Vancouver, British Columbia--(Newsfile Corp. - January 25, 2023) - Tudor Gold Corp. ( TSXV: TUD )...
About this update from Tudor Gold Corp.
[{"type":"text","content":"Tudor Gold Announces Sale of the Eskay North Property to Skeena Resources and Provides Corporate Update on Its Treaty Creek Project, Located in the Golden Triangle of British ColumbiaVancouver, British Columbia--(Newsfile Corp. - January 25, 2023) - Tudor Gold Corp. (TSXV: TUD) (FSE: H56) (the \"Company\" or \"Tudor Gold\") is pleased to announce that the Company has completed the sale of the Eskay North Property to Skeena Resources Limited (Skeena) for total consideration of $2,800,000 consisting of 231,404 common shares of Skeena at a price of C$6.05 per share (valued at $1,400,000) and $1,400,000 in cash as per the purchase and sales agreement made on October 28, 2022. Ken Konkin, President & CEO states: \"With the sale of Eskay North completed to Skeena, Tudor Gold remains committed to advancing and generating value from its Treaty Creek Project, which hosts the Goldstorm Deposit; one of the largest gold discoveries in the past 30 years. Although the Eskay North Property has an interesting land position adjacent to Skeena's Eskay Mine Project, the Company believes the sale of the property makes strategic sense. Tudor's Board of Directors voted unanimously to complete this deal with Skeena Resources. \"Our Treaty Creek Project possesses the potential for several years of exploration to host another Goldstorm Deposit with numerous recently discovered, significant Au-Cu-Ag targets. Our largest drill target, Perfectstorm lies on-trend and is equidistant from our Goldstorm Deposit and Seabridge Gold's Iron Cap Deposit at a distance of 2.5 kilometers to each deposit. The Perfectstorm system holds a very high priority as a drill target, however, our top priority is to drill off the Goldstorm Deposit with the focus on the CS-600 copper-gold-silver domain, as it remains open in all directions and at depth.\" Corporate Update on the Goldstorm Mineral Resource Estimate and Project DevelopmentTudor Gold continues to move forward on an updated Mineral Resource Estimate (MRE) for its Goldstorm Deposit at Treaty Creek by completing an updated geologic model and advancing the understanding of the mineral distribution at Goldstorm. The Company anticipates that the MRE update will be announced within Q1 2023 and is expected to focus on higher grades to increase the overall quality of gold, silver, and copper resources.Recent construction ...