Vancouver, Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TFE”- Frankfurt) has received a report from its joint venture partner Tudor Gold presenting the second set of results from the 2021 resource expansion and definition drilling program for the Goldstorm Deposit at the Treaty Creek property. The project is located in the heart of the Golden Triangle of northwestern British Columbia and is on-trend from Seabridge’s KSM Project located five kilometers southwest of the Goldstorm Deposit. Exploration at Treaty Creek is ongoing at Goldstorm and Eureka zones with six diamond drills now fully crewed. Results have recently been received from MSA Labs for nine diamond drill holes, which are presented below.
Treaty Creek, Drilling Highlights include:
- An exceptional extension of the 300 Horizon and CS600 to the northeast in hole GS-21-113 that contains 972.0 meters (m) of 1.265 g/t AuEq including 456.0 m of 1.352 g/t AuEq in the 300 Horizon and 405.0 m of 1.439 g/t AuEq in CS-600.
- Strong, consistent mineralization in GS-21-112 which further extends DS-5 to the northwest with 219.0 m of 1.287 g/t AuEq including 79.5 m of 2.079 g/t AuEq or 156.0 m of 1.557 g/t AuEq.
- Mineralization of the 300 Horizon in GS-21-111 totals 613.5 m of 0.869 g/t AuEq, which included an enriched section of 120.0 m averaging 1.974 g/t AuEq within 351.0 m of 1.253 g/t AuEq.
- Near-surface gold mineralization continues along the SW trend for over a kilometer at Perfect Storm as PS-21-06 encountered 118.6 m of 0.721 g/t AuEq including 59.9 m of 0.927 g/t AuEq. The mineralized system appears to be gaining strength towards the Iron Cap Deposit approximately three kilometers to the southwest.
- Strong copper mineralization was observed within the CS-600 domain in GS-21-113 with 405 m averaging 0.618% Cu (6179 ppm Cu), with an enriched zone of 273 m averaging 0.845% Cu (8436 ppm Cu).
- Goldstorm Deposit remains open in all directions and at depth as drilling continues.
Tudor Gold’s Vice President of Exploration and Project Development, Ken Konkin, P.Geo., stated: “We are extremely pleased with our continued success with our step-out drilling. Our goal is to find the limits to the Goldstorm Deposit and to advance the resources from our Initial Mineral Resource Estimate of 19.41 million gold equivalent (AuEq) ounces of Measured and Indicated grading 0.74 g/t AuEq and 7.9 million AuEq ounces of Inferred grading 0.79 g/t AuEq. We continue to intercept exceptional mineralization within the defined domains and consistently identify extensions to these domains particularly to the northeast and northwest as well as at depth. Due to the recent success with the Goldstorm results, drilling at the Perfect Storm Zone has been delayed as all drills are now required at Goldstorm to attempt to complete the planned drilling. As well, once we finish the current drill hole in progress at Eureka, that rig will be moved to Goldstorm to continue the step-out drilling to the northeast. We are very excited with the results from PS-21-06 at the Perfect Storm Zone as we again encountered significant near-surface gold mineralization, with 118.6 meters averaging 0.721 g/t AuEq, containing an uppermost portion averaging 0.927 g/t AuEq over 59.9 meters. We will plan for continued drilling at Perfect Storm once we delineate the northeastern limits to the Goldstorm Deposit. All three wide-spaced drill holes hit significant gold mineralization at Perfect Storm and have indicated gold mineralization along the SW axis for more than a kilometer. Only a very small portion of the Perfect Storm magnetic anomaly has been tested.”
Walter Storm, President and CEO of Tudor Gold, said: “We are very excited to see the continuation of these exceptional drill results from our resource definition and exploration drilling program at Goldstorm. The northeastern step-out drilling of the 300 Horizon, CS-600 and DS-5 domains continues to demonstrate the robust nature of the Goldstorm Deposit. We continue to expand the size of the deposit with some of the best gold and copper results obtained to-date on the project. We expect this to translate to an upgrade of our mineral resource estimate. The results at Perfect Storm are very encouraging as well, since all three, 300-meter step-out holes hit a portion of the mineralized system. The potential for discovery of yet another large gold system at Perfect Storm remains great and our aggressive 300-meter step-out drilling to the southwest will continue as soon as we can add to our drilling personnel.”
The complete list of composited drill hole results as well as the drill hole data including hole location, elevation, depth, dip and azimuth are provided in Table 1 and Table 2, respectively. Please check the URLs provided at the end of this release for a Plan Map and Cross Sections for the drill holes reported.
Results Goldstorm Zone and Perfect Storm Zone Press Release August 30th, 2021
|Section||Hole||Zone||From (m)||To (m)||Interval (m)||Au (g/t)||Ag (g/t)||Cu ppm||AuEQ (g/t)|
|A – 320||GS-21-106*||300H||73.50||93.00||19.50||0.754||2.81||423||0.792|
|A – 320||GS-21-106-W1||300H||0.00||354.00||354.00||0.717||2.06||169||0.761|
|B – 320||GS-21-111||300H||193.50||807.00||613.50||0.802||2.75||299||0.869|
|Section||Hole||Zone||From (m)||To (m)||Interval (m)||Au (g/t)||Ag (g/t)||Cu ppm||AuEQ (g/t)|
|116+50 NE||GS-21-113||300H + CS600||255.00||1227.00||972.00||0.91||3.66||2647||1.265|
|B – 320||GS-21-115||300H||114.50||254.00||139.50||0.557||1.85||98||0.590|
Table 2: Drill data for holes in Press Release August 30th, 2021
|Section||Hole ID||UTM E NAD 83||UTM N NAD 83||Elevation (m)||Azi (ᵒ)||Dip (ᵒ)||Depth (m)|
|A – 320||GS-21-106||428354.6||6272668.5||1301.3||295||-50||429|
|A – 320||GS-21-106-W1||428193.4||6272743.6||1060.9||300||-53||972|
|B – 320||GS-21-111||428417.6||6272839.1||1323.4||300||-70||1431|
|B – 320||GS-21-115||428417.3||6272839.3||1323.4||300||-60||895.7|
D. Cremonese, President and CEO of Teuton Resources, commented as follows: “These outstanding results once again underscore the great potential of the Treaty Creek property. Equally impressive (and brought home to me during my recent visit to the property) is the excellence of the geological staff at Treaty as headed by Tudor’s Vice-President of Exploration Ken Konkin and his right-hand man, Ryan Lick. It is a very well-run operation. Kudos also to the management at Tudor Gold–Walter Storm, Herbert Zimmer and many others.”
The Qualified Person for this news release for the purposes of National Instrument 43-101 is Tudor Gold’s Vice President of Exploration and Project Development, Ken Konkin, P.Geo. Mr. Konkin is also a director of Teuton. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.
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.
Update re Teuton Resources’ 2021 Exploration Program
Drilling on the Midas property is now complete and the drill has moved to the Konkin Silver property. It is currently beginning the third hole on the Konkin Silver, testing a large, overlapping VTEM and ZTEM geophysical anomaly.
A URL for a video shot recently of the exposed zone lying above the Z1 geophysical anomaly on the Eskay Rift property (which is indicated to begin about 100-150m below surface) is also provided at the end of this release.
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. Teuton earned $3.9 million net income in 2020 and a further $2.4 million in the first quarter of 2021. Its income is derived from option payments.
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). Interested parties can access information about Teuton at the Company’s website, www.teuton.com.
Figures & Videos Accompanying News Release
Please click link to view Plan Map and Cross-Sections: http://teuton.com/TreatyAugCrossSections
View Eskay Rift video: https://vimeo.com/594412278
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.
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