Teuton Resources Corp. (“Teuton”) (“TUO”:TSX–V; “TFE”-Frankfurt) is pleased to provide the following update on 2007 exploration of its flagship Treaty Creek property, located 70 kilometres north of Stewart, British Columbia. The property is currently under option to American Creek Resources Ltd. (“American Creek”) (”AMK”– TSX-V).
Highlights of the 2007 Treaty Creek program:
• Discovery of two promising zones, the Copper Belle and ND, in areas of glacial meltback
• Drilling of 5,470 metres (17,946 feet) in 30 holes on four separate zones
• Expenditure of approximately $3 million, being three times the expenditure contractually required under the option for 2007
Treaty Creek – Copper Belle Zone – The Copper Belle zone is a prominent gossanous area recently exposed by the rapid melting of the Treaty Glacier. It lies across the valley from the Eureka and ND zones and is one of the most promising new finds on the property. Surface observations indicate that the Copper Belle zone is well-mineralized with abundant pyrite locally accompanied by chalcopyrite, galena, sphalerite and bornite. Grab samples taken by property operator American Creek in 2007 were very encouraging and confirm its potential to host significant mineralization. Results are as follows:
|SampleET #||Au (g/t)||Au (oz/t)||Ag (g/t)||Ag (oz/t)||Cu (%)||Pb (%)||Zn (%)|
American Creek reports that drilling in 2007 was focused to test the extent of this impressive new discovery. Ten holes totalling 2,491 metres were drilled from the same pad with excellent core recovery of approximately 90%. Drill results are much anticipated. This system is open in three directions and American Creek has stated a considerable amount of follow-up exploration will take place during the 2008 season.
Treaty Creek – GR2 Zone – The GR2 zone lies a few hundred metres northeast of the Copper Belle and carries similar key minerals. Historical and recent samples from mineralized outcrops have been heavily mineralized with massive galena and lesser pyrite, sphalerite and occasional stibnite, carrying silver, lead and zinc values. Nine holes totalling 1,809 metres were drilled from one pad. Assay results are expected early in 2008.
Treaty Creek – Eureka Zone –The 2007 program was designed to further expand the Eureka zone and to improve low core recovery from previous programs (historic intersections on the Eureka include 0.757 g/t gold over 74.7 metres, 0.46 g/t gold over 169 metres, and 0.67 g/t gold over 72.3 metres). Approximately 785 metres of drilling in six holes were completed in 2007 with greatly improved core recovery averaging approximately 75%. The 2008 drill program may include reverse circulation to further improve core recovery. As core from this zone was the first sent for assay, results are expected shortly.
Treaty Creek – ND Zone – This area, featuring a similar alteration style to the nearby Eureka zone but with locally abundant chalcopyrite, bornite and tetrahedrite, is a new showing discovered this summer. Like the Copper Belle, this mineralized outcrop was recently exposed by the pronounced ablation of the Treaty Glacier. Five holes totalling 385 metres were completed. Assay results will likely be received early in 2008.
The 11,400 hectare (28,200 acre) large, Treaty Creek property adjoins to the north of the Kerr-Sulphurets property of Seabridge Gold Inc., host to the Mitchell zone, Canada’s largest undeveloped gold deposit. In February of 2007, Seabridge announced a National Instrument 43-101 compliant, inferred mineral resource in their Mitchell deposit on the Kerr-Sulphurets property of 564 million tonnes grading 0.72 g/t gold (13.1 million ounces) and 0.18% copper (2.23 billion lbs). In October, 2007 Seabridge Gold further announced it had drilled a new 682 metre long hole at the Mitchell with continuous mineralization averaging 0.92 g/t gold and 0.24% copper, and still in mineralization at hole bottom. This hole significantly increases the Mitchell’s depth potential and, along with other holes drilled during the 2007 program, is expected to add considerably to deposit size. A new resource calculation is planned for early 2008.
The Treaty Creek property shares similar lithologies and a similar alteration suite to the neighbouring Kerr-Sulphurets property, and also covers the northeast extension of thrust faults which are thought to be linked to the bulk tonnage gold-copper deposits on the latter property.
In April of 2007, Teuton entered into an option agreement with American Creek whereby American Creek could earn a 51% interest in the Treaty Creek by funding $5 million in exploration and making staged share payments amounting to 100,000 shares over three years. An additional 9% interest in the project may be acquired by funding all expenditures through to the completion of a feasibility study. American Creek will be project operator.
For the purposes of this news release, the Company’s President, D. Cremonese, P.Eng., is the Qualified Person.
On Behalf of the Board of Directors,
Teuton Resources Corp.
D. Cremonese, P.Eng.,
Teuton Resources Corp
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