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 fourth set of results from the 2021 resource expansion and definition drilling program at the Treaty Creek property north of Stewart, BC. 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.
Tudor Gold announced the safe completion of the 2021 Exploration Program, which included a total of 30,108 meters of drilling. Results from the final eleven drill holes from Goldstorm, one hole at CBS, and several surface chip sample lines from the Eureka Zone are expected to be received shortly and will be released once final analysis and interpretation is completed.
Calm Before the Storm Results
CBS is the fourth significant precious metal mineralized zone to be discovered at the Treaty Creek Project. The CBS Zone is located two kilometers northeast of the Goldstorm Deposit and occurs on the same structural trend that hosts the Perfect Storm Zone (PSZ) and the Copper Belle-Goldstorm Deposit (CB-GS), which currently hosts an estimated Measured and Indicated Mineral Resource of 19.4 million ounces of AuEq grading 0.74 AuEq and an Inferred Resource of 7.9 million ounces of AuEq grading 0.79 AuEq (see Teuton news release dated March 8, 2021).
Treaty Creek, CBS Zone Drilling and Surface Sampling Highlights include:
- Identified a new mineralized zone, “Calm Before the Storm”, near the lower Treaty Camp; 15% (25 out of 170) of rock chip samples assayed >0.5 g/t AuEq and 5% (8 out of 170) of samples contained >1.0 g/t AuEq.
- Drill results at Calm Before the Storm from the deeper hole, CBS-21-02, which returned 1.30 g/t AuEq over 53.9m within 155.50m of 0.82 g/t AuEq, demonstrate that gold-silver mineralization is getting stronger at depth.
- The Upper and Lower Exploration camps were closed in early November, but on-going environmental and climatic studies will continue throughout the year with helicopter support provided by Yellowhead Helicopters based in Stewart, B.C.
Tudor Gold’s Vice President of Exploration and Project Development, Ken Konkin, P.Geo., stated: “Our 2021 exploration program has been exceptionally successful at broadening our understanding of the mineralization throughout the Treaty Creek Property. The Project now has four large geological targets that require extensive exploration and drilling, including the Goldstorm Deposit which remains open in all directions and at depth. The size and scope of our exploration program is growing exponentially with each new discovery to add to the chain of precious and base-metal deposits and targets associated with the extensive Sulphurets-Treaty thrust fault system. We are very pleased with the results of the surface sampling programs and in-particular the discovery hole from our preliminary drill results at our new zone, Calm Before the Storm (CBS). The gold and silver values at CBS are interpreted to be hosted within possibly younger rocks than the host lithologies at Goldstorm. Drill hole CBS-21-02 intersected a distinct mineralized zone with 1.30 g/t AuEq over 53.9m within 155.50m of 0.82 g/t AuEq. Our geological crews require further review of this core after compiling the assay results to determine the controls for gold and silver distribution and emplacement.”
The complete list of composited drill hole results for CBS, as well as the drill hole data, including hole location, elevation, depth, dip and azimuth, are provided in Table 1 and Table 2, respectively. A list of highlighted surface chip and channel samples from CBS are included in Table 3. Included at the end of this release, is a URL for a plan map and cross sections for the drilling and surface samples reported.
Drilling Results Calm Before the Storm Zones in Press Release November 23, 2021
|Section / Plan||Hole / Chip Line||From (m)||To(m)||Interval (m)||Au (g/t)||Ag (g/t)||Cu ppm||AuEQ (g/t)|
|A – 180||CBS-21-01||14.25||33.50||19.25||0.37||0.67||16||0.38|
|A – 180||CBS-21-02||150.50||306.00||155.50||0.78||2.34||41||0.82|
|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 November 23, 2021
|Section||Hole ID||UTM E NAD 83||UTM N NAD 83||Elevation (m)||Azi (ᵒ)||Dip (ᵒ)||Depth (m)|
|A – 180||CBS-21-01||430616.2||6273880.5||979.6||140||-45||404|
|A – 180||CBS-21-02||430726.0||6273999.1||981.2||200||-45||512.1|
Table 3: CBS Surface Sample Results in Press Release November 23, 2021
|Sample||Zone||UTM E NAD 83||UTM N NAD 83||Elevation (m)||Type||Length||Au (g/t)||Ag (g/t)||Cu ppm||AuEQ (g/t)|
D. Cremonese, P. Eng., President of Teuton Resources commented as follows: “The discovery of the CBS zone, in an area that was covered by ice less than thirty years ago, underscores the potential of the Treaty Creek property to host multiple zones of gold-bearing mineralization. This is the 4th sizeable zone to be discovered and more are likely to be found as ablation (glacial meltback) continues. In addition to those discovered to date, the property has potential for maar/diatreme associated gold deposits, precious metal rich VMS deposits and high sulphidation gold deposits”.
The Treaty Creek Project is a Joint Venture with Tudor Gold owning 60% and acting as operator. Teuton Resources and American Creek each have a 20% interest in the project. Teuton and American Creek are both fully carried until such time as a Production Notice is issued, at which time they are required to contribute their respective 20% share of development costs. Until such time, Tudor is required to fund all exploration and development costs while both Teuton and American Creek have “free rides”.
The Qualified Person for the Treaty Creek data in this news release 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. 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. 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) and a 0.98% NSR in the Goldstorm deposit area. 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/CBSZoneMaps
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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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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