Vancouver, Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TFE”- Frankfurt) has received the ninth set of drill results from its Joint Venture Partner, Tudor Gold, with respect to the 2022 exploration 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, commented: “We are very pleased to announce results from the Treaty Creek exploration campaign with the release of five drill holes completed on our Goldstorm Deposit. The best result was from the northern step-out area well outside the estimated resource area with hole GS-22-159. The CS600 domain contained 1.71 g/t AuEq over 180 meters (m) with 0.92 g/t Au, 6.10 g/t Ag and 0.61 % Cu. This drill hole ended in strong copper mineralization and this composite was centred on a much larger composite of 489.0 m averaging 1.12 g/t AuEq (0.66 g/t Au, 3.60 g/t Ag, 0.36 % Cu). Ground conditions prevented the completion of this drill hole.Also of significance, silver grades were elevated within several holes of the newly discovered northern extension of the CS600 domain. Drill hole GS-22-162 intersected 1.34 g/t AuEq over 145.5 m with 0.61 g/t Au, 12.01 g/t Ag and 0.5 % Cu. In addition to expanding the deposit to the north, we were successful in confirming the near-surface, southeasterly expansion of the newly discovered Route 66 Zone that yielded 0.95 g/t AuEq over 42.0 m. We continue to observe higher gold, silver and copper grades throughout the northern step-out expansion of the Goldstorm Deposit than the grades derived from the 2021 Initial Resource Estimate. Despite significantly expanding the resource limits of the Goldstorm Deposit, it remains open in all directions and at depth. Our geologists will focus their attention on refining the geological model and completing an updated Goldstorm resource for 2023. In addition, numerous samples were collected for on-going petrographic, mineralogical and metallurgical studies that will be carried out during the following winter months.
We thank and congratulate our staff and contractors for their safe and professional conduct in making the 2022 exploration season at Treaty Creek such a successful program.”
The Program at the Treaty Creek property included an aggressive resource expansion and delineation plan for several areas, including the Goldstorm Deposit and the Eureka and Calm Before the Storm Zones. Results included in this press release are reported from five diamond drill holes that were drilled on the Goldstorm Deposit (Sections 110+00 NE, 117+00 NE, 118+00 NE, M and N). At Goldstorm, four out of five holes were drilled partially or completely outside the 2021 NI 43-101 Mineral Resource Estimate area (see link: http://teuton.com/2022FinalResults corresponding Treaty Creek plan map and sections).
SECTION 110+00 NE
- GS-22-160 was drilled to target the gold-dominant Route 66 zone. An intercept of 42.0 m grading 0.95 g/t AuEq (0.87 g/t Au, 1.66 g/t Ag, 0.05 % Cu) was returned that included a higher-grade segment of 1.91 g/t AuEq (1.83 g/t Au, 1.02 g/t Ag, 0.06 % Cu) over 13.5 m.
SECTION 117+00 NE
- GS-22-162 was drilled to target the CS600 domain, just outside of northeastern edge of the 2021 mineral resource area. An intercept of the CS600 gold-copper porphyry system was intercepted over a drill length of 258.0 m averaging 1.03 g/t AuEq (0.56 g/t Au, 8.42 g/t Ag, 0.31 % Cu) with an enriched zone of 1.34 g/t AuEq (0.61 g/t Au, 12.01 g/t Ag, 0.5 % Cu) over 145.5 m.
SECTION 118+00 NE
- GS-22-161 was drilled as a 150 m northeastern step-out from the 2021 mineral resource area. An intercept of the gold-copper porphyry system was intercepted over a drill length of 185.0 m averaging 1.26 g/t AuEq (0.74 g/t Au, 6.06 g/t Ag, 0.38 % Cu) with an enriched segment of 72.0 m grading 1.57 g/t AuEq (0.85 g/t Au, 6.27 g/t Ag, 0.55 % Cu). This hole demonstrates the strong continuity of gold-copper porphyry mineralization in the host intrusive to the northeast and that the CS600 system remains completely open in this direction.
- GS-22-157 was drilled to determine the deep extension of mineralization along CS600, south of GS-21-113-W2. A drill length intercept of 220.5 m of 0.90 g/t AuEq (0.41 g/t Au, 7.88 g/t Ag, 0.33 % Cu) as well as an enriched zone of 89.5 m of 1.09 g/t AuEq (0.44 g/t Au, 7.63 g/t Ag, 0.48 % Cu) clearly demonstrates the continuity of the gold-copper porphyry intrusive system at depth.
- GS-22-159 was drilled to determine the deep extension of mineralization along CS600, north of GS-21-113-W2. A drill length intercept of 489.0 m of 1.12 g/t AuEq (0.66 g/t Au, 3.60 g/t Ag, 0.36 % Cu) as well as an enriched zone of 180.0 m of 1.71 g/t AuEq (0.92 g/t Au, 6.10 g/t Ag, 0.61 % Cu) strongly demonstrates the continuity of gold-copper porphyry intrusive system at depth and to the north. This hole ended in mineralization.
Table 1: Drilling Results for Goldstorm Deposit in Press Release November 24, 2022
|Section||Hole||From (m)||To (m)||Interval (m)||Au (g/t)||Ag (g/t)||Cu (ppm)||AuEQ (g/t)|
|110+00 NE||GS-22-160 (300H)||75.00||181.50||106.50||0.95||2.28||136||0.99|
|And (Route 66)||432.00||474.00||42.00||0.87||1.66||534||0.95|
|117+00 NE||GS-22-161 (CS600)||870.50||1055.50||185.00||0.74||6.06||3809||1.26|
|118+00 NE||GS-22-162 (CS600)||792.00||1050.00||258.00||0.56||8.42||3124||1.03|
|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 intervals The 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 24, 2022
|Section||Hole ID||UTM E NAD 83||UTM N NAD 83||Elevation (m)||Azi (ᵒ)||Dip (ᵒ)||Depth (m)|
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.
The Qualified Person for the Treaty Creek technical information in this news release 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 in regard to the Treaty Creek property that forms the basis for the disclosure contained in this news release.
About the Treaty Creek Property
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 (Tudor Gold is responsible for paying all exploration costs up 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.
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 in cash and often also in shares of the optionee companies), has provided Teuton with substantial income over the years.
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.