Vancouver, Canada – August 19, 2019 – Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TUC”- Frankfurt) is pleased to announce that the crew for the 2019 Del Norte drill program has arrived and that drilling is expected to commence within two days. The Del Norte property is situated 30 km east of Stewart within the Golden Triangle region of north-western British Columbia.
The principal target of the 2019 program is the “A-2” anomaly identified by Geotech during a comprehensive ZTEM survey flown in 2018 (cf: http://teuton.com/Fig1DNTargets). The Geotech anomaly overlies a previous large and intense EM anomaly defined by an earlier 2005 VTEM survey. Streams draining the area of the anomaly flow southerly into Nelson Creek, where Cominco carried out a placer gold operation in the 1930’s. Two structures, the LG vein and the K zone, lie close to the anomaly but not within it. Both have returned high gold and silver values in previous drilling (cf. http://teuton.com/Fig2DNDrilling).
Geotech’s geophysicists stated: “This target lies at the contact volcanics/sediments of the Hazelton group and it is stretching in the NS direction over a distance of >3 km. It has an estimated resistivity of < 30 ohm-m at a depth of 300m, coincides with a strong Aerotem conductor and occurs within a zone of complex structural pattern. It is affected by a system of north-west striking faults.”
Profiles provided by Geotech, both along the axis of the target in the vicinity of the Aerotem conductor and across it, suggest that the source begins at a depth 200m below surface in the area targeted by the 2019 drilling (cf. http://teuton.com/Fig3-A2Slice).
Del Norte West Gossans
A reconnaissance of areas of glacial meltback has identified two previously unknown gossans in a locale now referred to as “Del Norte West” (Photographs of the zones: http://teuton.com/Fig4Gossan1DNW and http://teuton.com/Fig5Gossan2DNW). Prospecting of a small portion of both gossanous zones has identified widespread pyrite mineralization with local concentrations of chalcopyrite and sphalerite in a silicified hostrock (cf http://teuton.com/Fig6SamplingDNW). It is possible that both gossans are connected beneath an intervening icefield. Samples have been sent for assay and work is continuing in an effort to cover as much of the gossanous region as possible.
A helicopter survey of the northern part of the Fiji property has disclosed a mineralized structure which can be followed uphill for at least 300m before disappearing under a blanket of snow and ice (http://teuton.com/fijivideo). This new zone appears to have been very recently exposed by retreating icefields. Samples have been taken and sent for assay. Teuton owns the Fiji property jointly with Silver Grail Resources. The property abuts to the west and northwest of Auryn’s Homestake gold-silver property.
Permitting for the Fiji project is in place. If results of the sampling are positive and weather conditions allow, the property will be drilled this year.
The Qualified Person for this news release is Dino Cremonese, P.Eng., who as President of Teuton is not independent of the Company.
Teuton owns interests in more than thirty properties in the prolific “Golden Triangle” area of northwestern British Columbia and was one of the first companies to adopt what has since become known as the “prospect generator” model. Eight of these properties are currently under option to third parties. Properties presently under option (including properties where optionees have already earned their interest) have generated cash proceeds of a little under $2.4 million since 2015, not including the value of shares received from the optioning companies.
Teuton was the original staker of the Treaty Creek property 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) as well as a 0.98% NSR in the claims covering the Goldstorm zone. A 0.49% NSR is owned in the peripheral claims.
Shareholders and other interested parties can access information about Teuton at the Company’s website, www.teuton.com.
“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.