How ironic that, during what would ordinarily have been the opening week for the Olympics, shares in gold companies are mounting the podium with a vengeance.
Vancouver-based Tudor Gold Corp. (TSX-Venture:TUD) told investors Monday it has completed the second set of diamond drill holes at its flagship property, known as Treaty Creek in the heart of Northwestern B.C.’s Golden Triangle.
Tudor goes on to say diamond drilling is moving right along on the Goldstorm Zone which is on-trend from Seabridges' KSM Project located five kilometers southwest of our Goldstorm System.
As well, three more drills have been mobilized to the project. This brings the total to five diamond drill rigs working at Treaty Creek. A sixth diamond drill is expected to arrive shortly at Treaty Creek. Tudor Gold intends to double the diamond drill hole program from the original plan of 20,000 metres to at least 40,000 metres of drilling for 2020.
Ken Konkin, the company’s Vice President of Project Development, said, "For the second time this month, we are very pleased to have bettered the results obtained earlier from GS-20-57 which has an enriched interval that averages 1.40 gpt AuEq over 217.5 metres (544.5 to 762.0 m.) within an overall composite average of 0.845 gpt AuEq over 973.05 m.”
Tudor shares climbed 35 cents, or 13.5%, to $3.04, on volume of 1.039 million shares.
