Tudor Gold: Interview with Joe Ovsenek
- Miningvisuals
- 3 hours ago
- 6 min read
Tudor Gold (TSX.V: TUD) is a precious and base metals exploration company focused on the Treaty Creek Project, located in British Columbia’s Golden Triangle. The project’s primary asset, the Goldstorm Deposit, currently holds a Mineral Resource of 28.9 million ounces of gold (M&I + Inferred), alongside significant amounts of silver and copper.
The company is led by a management team with previous experience at the neighboring Brucejack Mine. Following a recent consolidation of project ownership to 80% and a new round of financing, Tudor Gold is shifting its technical focus toward the high-grade SC-1 Zone.
We spoke with CEO Joe Ovsenek to discuss the company’s transition toward underground mining exploration, the status of the proposed exploration ramp, and the potential of broader exploration targets across the property. We also covered the operational objectives set for 2026.
1.) To start, could you give a brief overview of Tudor Gold for those new to the story? What distinguishes the Treaty Creek project from other large assets in the Golden Triangle?
Joe Ovsenek: Treaty Creek hosts one of the largest gold discoveries of recent times at its Goldstorm Deposit with 24.9 million ounces of gold plus copper and silver in the Indicated Mineral Resource category and 4 million ounces of gold plus copper and silver in the Inferred Mineral Resource category. What sets Treaty Creek apart from the other large assets in the Golden Triangle is grade. Treaty Creek has higher-grade gold than any of the other large assets.
2.) You have significant experience in this district, particularly with the Brucejack Mine. What was it about the data at Treaty Creek that encouraged you to take on the leadership role here?
Joe Ovsenek: Grade. Grade is what allows you to pursue multiple options for moving forward and into production. The Goldstorm Deposit has higher-grade mineralization, which will allow us to potentially develop an underground mine.
3.) Are there any similarities between the Brucejack deposit and the high-grade zone at Goldstorm?
Joe Ovsenek: The Goldstorm Deposit at Treaty Creek is roughly 15 kilometers north of the Brucejack Mine. The mineralization at the Valley of the Kings, the high-grade zone at Brucejack, is hosted within quartz stockwork systems. The SC-1 Zone that forms part of the Goldstorm Deposit is also comprised of quartz stockworks hosting high-grade gold mineralization. In this way the two zones are similar. The difference lies in the gold mineralization.
At the Valley of the Kings, there is exceptional high-grade, in the kilos of gold per tonne in places, sitting within lower grade of roughly 1 to 2 g/t gold. At the SC-1 Zone, the mineralization encountered to date is more consistent across the zone, with additional drilling required to define the overall grade and extent of the zone. We are planning an underground exploration program to infill drill the SC-1 Zone and the other higher-grade zones at the Goldstorm Deposit.
4.) The recent resource update shows a 15% increase in gold ounces, but you also emphasized 'higher-grade sensitivities.' What is the reasoning behind highlighting these higher cut-off grades right now?
Joe Ovsenek: We believe the quickest path to production and best way to create value at Treaty Creek is by focusing on the higher-grade gold mineralization. As a result, we believe it is important to highlight the amount of mineralization at these higher cutoff grades. It is this higher-grade mineralization that will allow us to develop an underground mine.
5.) The press release mentions a target of 300,000 ounces per year for an initial underground operation. How does the updated resource model specifically support that production goal?
Joe Ovsenek: The higher value cut-off sensitivities provide an estimation of the number of ounces of gold (and copper and silver) above the cutoff value. This allows us to model mining shapes around the higher-grade mineralization that can then be used to estimate production and model the economics of mining that mineralization. Essentially, the higher-grade sensitivities are the first step on our path to production. The next step is a mine plan followed by a preliminary economic assessment.
6.) You are planning an underground exploration ramp to access the core of the deposit. Why is this step necessary rather than continuing to drill from the surface?"
Joe Ovsenek: First, drilling from underground (closer to the mineralization) will require shorter drill holes that are less expensive (charged by the meter) than surface drill holes (which have a longer distance to travel) and will allow greater accuracy in targeting mineralization.
Second, we can drill from underground all year round. Surface drilling is limited to four to five months a year. Underground drilling will allow us to accelerate the advance of the project.
7.) Beyond the main Goldstorm deposit, you have other zones like Perfectstorm and Eureka. Do you see significant potential in these areas, and will they be a focus for drilling in 2026?
Joe Ovsenek: Definitely. We believe other areas on the property have excellent potential to host a mineral deposit similar in grade and scale to the Goldstorm Deposit. For example, one of the last holes from the 2023 exploration program intersected 1.23 g/t gold over 102 meters at the Perfectstorm Zone. In 2021, at the CBS Zone, we intersected 0.78 g/t gold over 155 meters, including 53 meters at 1.24 g/t gold and at the Eureka Zone we intersected 0.82 g/t gold over 138.5 meters, including 1.01 g/t gold over 67.5 meters.
All of these drill results need to be followed up with additional exploration as each of the zones has the potential to host a world class Mineral Resource. Our 2026 exploration program will predominantly focus on these zones, with a target of developing a maiden resource for at least one of these zones.
8.) With the capital raised recently, how do you plan to allocate funds between ramp development and broader exploration efforts?
Joe Ovsenek: We had approximately $26 million on hand at the end of 2025. Roughly $15 million will be allocated to exploration drilling and the ramp. The remainder of our funds will be held in reserve for corporate initiatives.
9.) There is often discussion about logistics and access in the area. Do you see an opportunity to cooperate with your neighbors on infrastructure to improve economics for everyone?
Joe Ovsenek: The infrastructure for Treaty Creek is quite good for the Golden Triangle. We are 40 kilometers from a paved highway and a major transmission line. We could potentially work with Seabridge Gold on a portion of the road construction to share costs; however, we would need to build our own powerline.
10.) Given your previous success with Brucejack, is the strategy here to build and operate this mine, or to advance it to a point where it becomes an acquisition target?
Joe Ovsenek: In order to create value, we need to continually move the project forward. We have no plans to get to a certain stage and then put up a for sale sign.
11.) Finally, you mentioned a potential PEA later this year. Aside from that, what other key news or milestones should investors look out for in the next 6 to 12 months?
Joe Ovsenek: We expect to announce the results of our metallurgical test work in the first quarter of this year. We plan to commence a 10,000+ meter drill program in May, which will deliver drill results through the summer into the fall. If all goes well, we expect to announce a maiden Mineral Resource estimate for one of the exploration prospects on the property before year end. During the year, we will also continue to pursue increasing our interest in the Treaty Creek Joint Venture to 100%.
For more information on Tudor Gold Corp., please visit their official website: https://tudor-gold.com/
Disclaimer
The information presented in this interview is for informational purposes only and should not be considered as investment advice. The views and opinions expressed are those of the interviewee and do not necessarily reflect the official policy or position of MiningVisuals. While we strive to present accurate and timely information, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, or suitability of the information contained herein. Readers are strongly encouraged to conduct their own research and due diligence, and to consult with a qualified financial advisor before making any investment decisions. For complete and official information regarding Tudor Gold Corp., please refer to the company's public filings on SEDAR.