- Tudor Gold (TSXV:TUD) will dispense 481,927 common shares to Teuton Resources as part of an option agreement for a package of properties in British Columbia
- The shares will settle a cash payment of C$320,000 owed to Tueton, regarding the Orion, Fairweather, Delta and High North properties located in British Columbia
- In related news, the company has also brought in a third rig for the ongoing drill program at its flagship Treaty Gold Project
- The main zone at Treaty is the Goldstorm prospect, where the company will utilise the extra drill to further define the resource
- Tudor Gold (TUD) is up 6.9 per cent and is trading at $1.55 per share
Tudor Gold (TSXV:TUD) has issued 481,927 shares to Teuton Resources towards an option agreement for a package of properties in British Columbia.
The common shares will settle a cash payment of C$320,000 owed to Tueton, which was announced at the beginning of the month. The payment regards, the Orion, Fairweather, Delta and High North properties located in British Columbia.
Alongside the share issuance, the company has mobilised a third drill rig at its flagship Treaty Creek gold property.
The company hopes the third drill will hasten the 22,500-metre drilling program, which is ongoing at the site.
The company is zeroing in on the site’s Goldstorm target to clearly define the limits of the resource and begin estimate calculations.
The company is applying for new permits to construct a new drill camp at a lower elevation. By doing this Tudor gold hopes have a base that doesn’t require helicopter support to access.
CEO of Tudor Gold, Walter Storm said the company had been doing an excellent job during its exploration program thus far. He went on to comment on the prospective new camp.
“This new camp will be beneficial in extending the drill season into the fall months as crews will be able to access the drills without helicopter support, making it a much safer, cost effective and production drilling season,” he said.
Walter went on to say that, despite the ongoing work at the site, the company remains committed to observing its COVID-19 protocols.
Tudor Gold (TUD) is up 6.9 per cent and is trading at $1.55 per share at 9:45 pm EDT.