Teuton Resources Corp. (“Teuton”) and Minvita Enterprises Ltd. (“Minvita”) will mount a work program during the 2004 field season on their jointly owned Konkin Silver property, located 29 kilometres east of Stewart, British Columbia.
Several promising silver occurrences were discovered on the property between between 1994-98, but low silver prices precluded further exploration. Now that silver prices have almost doubled from lows in the $4 US/oz range, the property is being re-examined.
The main Konkin Silver showing is a bow-shaped structure which returned a weighted average value of 34.9 oz/ton silver, 2.3% lead and 2.0% zinc across 9.0 metres at the widest part sampled. Ruby and native silver were noted in hand specimens. This zone occurs in a VMS environment and has structural and mineralogical affinities with the formerly producing Torbrit silver mine some 20 km to the south. During the 1950’s the Torbrit was Canada’s third largest silver mine.
Teuton and Minvita recently purchased a 100% interest in two claims situated within the boundaries of the Konkin Silver property. Purchase price was 50,000 shares of Teuton and 50,000 shares of Minvita, plus $10,000 from both companies. The vendor retains a 2% NSR, one-half of which can be purchased for $1,000,000. The transaction is arms-length.
The newly acquired claims cover two documented silver showings, one of which was sampled across a 9 metre width, returning 19.0 oz/t silver, 2.4% lead and 3.0% zinc.
The Leszek zone on the Konkin Silver property is a quartz-tetrahedrite stockwork in argillites with sample results of up to 0.202 oz/ton gold and 16.4 oz/ton silver over a 4 metre width. This zone is very similar in setting and mineralogy to the Kosciuszko zone on the Del Norte property, 6 kilometers to the north (the Del Norte is wholly owned by Teuton and currently under option to Lateegra Resources Corp., under terms whereby Lateegra can earn a 50% interest by spending $3,000,000 over four years). Three holes drilled into the Kosciuszko zone in 2002 all returned wide intercepts of gold-silver mineralization. The final hole assayed 0.223 oz/ton gold and 8.1 oz/ton silver over a true width of 8 metres.
Teuton and Minvita plan property wide prospecting, sampling, trenching and geological mapping in 2004, to be followed by diamond drilling of selected targets
ON BEHALF OF THE BOARD
Dino Cremonese, P.Eng.
Teuton Resources Corp
Minvita Enterprises Ltd.
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