Teuton Resources Corp. (“TUO:TSX-V”) is pleased to announce the successful completion of the 2005 combined diamond drilling and airborne geophysical program on the Del Norte property, situated in the Stewart-Eskay Creek Mining District, British Columbia. Program highlights are as follows:
• The LG vein system widens appreciably at depth in the vicinity of Hole #2500-2 (51 feet grading 0.363 oz/ton gold equivalent) with a core of bonanza grade gold and silver values (2.8 feet grading 110.3 oz/ton silver and 2.08 oz/ton gold).
• The LG vein system has been proved to extend another 900 feet to the south under ice cover.
• The K and LG veins are now interpreted to be parallel structures, considerably enhancing overall tonnage potential.
• An intense, broad EM conductor has been detected just east and parallel to the LG vein exposure, situated within laminated mudstones. The setting is prospective for exhalative Eskay Creek-style mineralization in the wall of the main vein system.
The 2005 program was drilled under Teuton’s direction to test the extension of the K-LG vein system beyond the limits of the 2004 drilling. 2005 drill results are summarized in the following chart.(see Fig. 1. for plan map of drill hole locations):
|Drill Hole#||Dip Angle (degrees)||From (feet)||To (feet)||Core Interval (feet)||Silver (oz/ton)||Gold (oz/ton)||Gold Enqiv1 (oz/ton)|
|Notes: 1 based on current 60:1 ratio between gold and silver prices|
|2 previously released holes, Oct. 27, 2005 News Release|
|3 No Significant Results|
A total of 4600 feet in 10 holes was completed at Del Norte during 2005. The program was funded by Sabina Silver Corporation (“SBB:TSX-V”) according to terms of a recently signed option agreement with Teuton, whereby Sabina Silver can earn up to a 65% interest by spending $2.5 million on the property over the next four years and taking the project to a feasibility study (previously reported October 3, 2005).
Data from the 2005 drill program is to be modeled along with data from previous drilling from 2002 to 2004 to assist in generation of targets for the 2006 program. True widths of the 2005 drill intersections are to be determined at this stage.
Airborne Geophysical Survey An airborne geophysical survey of the Del Norte Project was also recently completed. Initial results show a strong, broad electromagnetic conductor lying just east of the K-LG vein system, with additional conductors to the north along strike (see Fig. 2). The conductors are unexplained at this time but appear to be spatially related to the K-LG vein system. Assays from the upper portions of Hole #2005-10, which grazed the outer fringe of one of the anomalies en route to the LG vein, returned anomalous levels of silver, lead and zinc over wide intervals in laminated mudstones. These results are significant and suggest that further work is required to verify the presence of subparallel exhalative Eskay Creek-style mineralization in the wall of the main vein system.
Additional EM anomalies were detected in the vicinity of the Horatio zone and the Bullion zone, elsewhere on the Del Norte property. Full results from the geophysical survey will be announced when final data has been received.
D. Cremonese, P.Eng. is the Qualified Person for Teuton Resources Corp. in charge of the 2005 program on the Del Norte property. Pioneer Laboratories of Richmond, B.C., an accredited facility, assayed the Del Norte core. Harvey Klatt, P.Geo., Qualified Person for Sabina Silver Corporation, has reviewed the technical data and approved its dissemination in this news release.
ON BEHALF OF THE BOARD OF DIRECTORS
Dino Cremonese, P.Eng.
President and Director Teuton Resources Corp
Minvita Enterprises Ltd.
The foregoing securities have not been, nor will be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons absent U.S. registration or an applicable exemption from U.S. registration requirements. This release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation or sale would be unlawful.
This news release includes certain forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, as well as management’s objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. Sabina does have an ongoing obligation to disclose material information as it becomes available.
The TSX Venture Exchange does not accept responsibility for the accuracy or the adequacy of this release.