Vancouver, Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TFE”- Frankfurt) has received assay results from its Joint Venture partner, Tudor Gold Corp., on the next set of drill results from the Phase l work program at the Treaty Creek property. The property is located in the heart of the Golden Triangle of northwestern British Columbia, adjoining and on geological trend with Seabridge Gold’s KSM property and Newcrest Mining’s Brucejack property.
Ken Konkin, President and CEO of Tudor Gold and Director of Teuton, commented as follows: “We are extremely pleased to report this second consecutive high-grade, visible gold intercept from our northeastern step-out drilling. This 70.96 g/t AuEQ intercept over one meter is now [the] highest single gold grade intercept of the project. The unique aspect of the two-meter composite of 39.15 g/t AuEq and the 4.5 meter visible gold composite from GS-22-134 that averaged 20.86 g/t AuEq is that they both appear to have similar modes of occurrence that resembles the gold mineralization at the Valley of Kings (VOK) Deposit at Newcrest’s Brucejack Lake Mine adjacent to our southern border.* Most of the free-gold mineralization at the Goldstorm Deposit is associated with quartz-pyrite veinlets but it also appears as fine disseminated grains of free visible gold within host rock as observed in this high-grade intercept within GS-22-143. This may be a colloidal-type mineralization which is also observed at the Brucejack Lake Mine. Gold mineralization at the VOK Deposit occurs as electrum, however the visible gold found at the Goldstorm Deposit occurs as native gold. As with the discovery of R-66 to the southeast, these new high-grade gold intercepts may be completely different pulses of mineralization that can occur outside the known limits of the porphyry style of gold mineralization. Clearly more drilling is required to better understand the grade distribution and consistency within the northeastern portion of the Goldstorm Deposit.”
*While working for Pretium Resources, Mr. Konkin was instrumental in the discovery of the Valley of Kings deposit at the Brucejack Lake mine, an eight-million-ounce gold deposit currently in production (Pretium was recently purchased by Newcrest Mining). He spent seven years managing all aspects of the exploration programs at Snowfield-Brucejack. During his tenure with Pretium, the company received the Bill Dennis award in 2013 recognizing an important and significant mineral discovery in Canada with potential economic viability (presented by the Prospectors & Developers Association of Canada); Mr. Konkin was also the co-recipient of the prestigious H.H. “Spud” Huestis award for “excellence in prospecting and mineral exploration in B.C. and/or Yukon” in 2017. Mineralization as described on the Brucejack property of Newcrest Mining is not necessarily indicative or representative of the mineralization that may be hosted at Treaty Creek.
The Program at the Treaty Creek property includes an aggressive resource expansion and delineation plan on several areas including the Goldstorm Deposit and the Eureka and Calm Before the Storm zones. Results included in this press release include preliminary results from one diamond drill hole from the Goldstorm Deposit that was targeted outside the 2021 mineral resource area (see end of press release for URLs for plan map and sections).
- GS-22-143 stepped out 225 m to the northeast from the 2021 drilling and targeted 300H and CS600 mineralization. A high-grade interval of 39.15 g/t AuEq over 2.0 m was intercepted in an area that spatially lines up with the 300H mineral domain, however, is interpreted as potentially being a separate mineralization event. Visible gold was found hosted within the fabric of the host rock.
Table 1: Drilling Results Goldstorm and CBS in Press Release July 26, 2022
|Section||Hole||From (m)||To (m)||Interval (m)||Au (g/t)||Ag (g/t)||Cu (ppm)||AuEq (g/t)|
|All assay values are uncut and intervals reflect drilled intercept lengths.HQ and NQ2 diameter core samples were sawn in half and typically sampled at standard 1.5m intervalsThe following metal prices were used to calculate the Au Eq metal content: Gold $1625/oz, Ag: $19/oz, Cu: $2.8/lb. Calculations used the formula Au Eq g/t = (Au g/t) + (Ag g/t x 0.01169) + (Cu% x 1.1815). All metals are reported in USD and calculations do not consider metal recoveries.True widths have not been determined as the mineralized body remains open in all directions. Further drilling is required to determine the mineralized body orientation and true widths.|
Table 2: Drill data for holes in Press Release July 26, 2022
|Section||Hole ID||UTM E NAD 83||UTM N NAD 83||Elevation (m)||Azi (ᵒ)||Dip (ᵒ)||Depth (m)|
|Preliminary assays reported to 985.5 m in this press release. Complete results to be released in the following press release.|
The Qualified Person for this news release for the purposes of National Instrument 43-101 is Tudor Gold’s President and CEO, Ken Konkin, P.Geo. Mr. Konkin is also a director of Teuton Resources and as such is not independent of the Company. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.
Diamond drill core samples were prepared at MSA Labs’ Preparation Laboratory in Terrace, BC and assayed at MSA Labs’ Geochemical Laboratory in Langley, BC. Analytical accuracy and precision are monitored by the submission of blanks, certified standards and duplicate samples inserted at regular intervals into the sample stream by Tudor Gold personnel. MSA Laboratories quality system complies with the requirements for the International Standards ISO 17025 and ISO 9001. MSA Labs is independent of the Company.
Teuton owns interests in more than thirty properties in the prolific “Golden Triangle” area of northwest British Columbia and was one of the first companies to adopt what has since become known as the “prospect generator” model. This model minimizes share equity dilution while at the same time maximizing opportunity. Earnings provided from option payments received, both in cash and in shares of the optionee companies over the past 6 years, has provided Teuton with substantial income.
Teuton was the original staker of the Treaty Creek property, host to the large Goldstorm deposit, assembling the core land position in 1985. It presently holds a 20% carried interest in Treaty Creek (carried until such time as a production decision is made) and a 0.98% NSR in the Goldstorm deposit area. It also owns numerous additional royalty interests within the Sulphurests Hydrothermal system on properties such as the King Tut, Tuck, High North, Orion, Delta and Fairweather properties. Interested parties can access information about Teuton at the Company’s website, www.teuton.com.
URL for various maps:
On Behalf of the Board of Directors of Teuton Resources:
“Dino Cremonese, P.Eng.”
Dino Cremonese, P. Eng.,
President and Chief Executive Officer
For further information, please visit the Company’s website at www.teuton.com or contact:
Director Corporate Development and Communications
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Cautionary Statements regarding Forward-Looking information
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially.
All statements relating to future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.