Treaty Creek Gold Project Highlights To Date:
- Six rigs are currently drilling the northern extension of the Goldstorm Deposit.
- Two rigs have started drilling on the neighbouring CBS (Calm Before the Storm) and Eureka Zones.
- 1,600 line-km high-resolution airborne aeromagnetic survey to begin over Treaty Creek property (as well as the Crown property—Teuton owns NSR interests in much of these claims).
- Operator Tudor Gold takes first steps to build a road which will eventually provide access to Treaty Creek from Highway 37.
- Meaningful engagement with First Nations continues (Nisga’a, Tahltan and Skii Km Lax Ha).
Vancouver, Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TFE”- Frankfurt) has received word from its Joint Venture partner, Tudor Gold Corp., that exploration efforts have doubled for Phase l of the 2022 exploration program (the “Program“) at the Treaty Creek gold property, located in the heart of the Golden Triangle of Northwestern British Columbia. The fully funded Program consists of a 30,000 metre (m) diamond drilling campaign that has been developed to systematically test the extension of the Goldstorm Deposit well beyond the limits that were outlined in the 2021 Mineral Resource Estimate (cf. Teuton press release dated March 9, 2021) which indicated a Mineral Resource of 19.41 million ounces of AuEq grading 0.74 g/t AuEq and an Inferred Mineral Resource of 7.9 million ounces of AuEq grading 0.79 g/t AuEq. In addition, exploration diamond drilling will focus on the Calm Before the Storm (CBS) and the Eureka zones (EZ or Eureka).
During the past two weeks, Tudor’s crews have mobilized four more drill rigs to the site from the winter route via the Brucejack Access Road. The drill contractors now have eight drill rigs working on three targets. Six drill rigs have commenced drilling the northern aspects of the Goldstorm Deposit as step-out exploration holes. One rig has been drilling at CBS as a follow-up to last year’s newly discovered gold-silver system located 2.5 kilometres northeast of the Goldstorm Deposit. Additionally, crews have begun drilling the Eureka Zone located 800 meters southeast of the Goldstorm Deposit (see URL at the end of this release for a map).
Ken Konkin, President and CEO of Tudor Gold, comments, “The start-up of the 2022 exploration campaign has been a huge success. We are well ahead of schedule starting the step-out exploration drill holes in the northern aspects to the Goldstorm Deposit as well as initiating drill programs at CBS and Eureka. Additionally, we plan to complete a high-resolution aeromagnetic survey over our Treaty Creek and Crown claims with Terraquest Geophysics. A total of 1,600-line kilometres are expected to be flown during the next few days. This will serve as a vital mapping tool to aid continued exploration efforts throughout both properties. In addition to exploration, Tudor plans to construct an exploration access road that will connect our Lower Camp to our weather station area located 3.5 kilometers east of that camp. This route will eventually tie into the permitted access road that Seabridge Gold (Seabridge) is currently constructing from the Highway 37 junction at Glacier Creek. This will provide an all-weather road access to our project once completed. Seabridge has already completed the bridge construction for the Bell Irving River crossing at Glacier Creek.
“Our engagement efforts with local First Nations continue to develop. We have initiated contact with Nisga’a First Nations, and we have pledged follow-up meetings to ensure clear communication as the project evolves. Earlier in the year, Tudors’ geologists and geotechicians held an informal Core Processing Workshop as an Open-Invite for the Tahltan community members in Dease Lake. It was a successful three-day session that included geotechnical procedures, QA/QC protocols as well core sampling and shipping procedures. We plan to continue to host these workshops in communities interested in gaining employment in the exploration sector. For many of those who attended, this was an excellent introduction to one small aspect of exploration. We are committed to include all First Nations including Tahltan, Skii Km Lax Ha and Nisga’a as part of our engagement process and we will continue to encourage participation with our future workshops to provide employment opportunities and public awareness to our industry sector.”
D. Cremonese, P. Eng., President of Teuton commented as follows: “Having eight drills running this early in the season is a remarkable achievement. I would like to commend Ken Konkin for organizing this superb effort; thanks also to Harvey Tremblay of Hy-Tech Drilling and Sean Pownall of Morecore Drilling.”
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. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release. Mr. Konkin is also a director of Teuton.
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. It has earned substantial income from option payments in the past 6 years.
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.
URL for Eureka zone Location: http://teuton.com/EurekaGSMap
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.