October 28, 2019 – Vancouver, Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TUC”- Frankfurt) has received a report from JV partner Tudor Gold containing final assay results from the remaining five holes of the 2019 drilling program at Treaty Creek. The Treaty Creek property is located in the Golden Triangle region of BC, immediately north of and along regional strike from Seabridge Gold’s KSM property and Pretium Resources’ Brucejack-Snowfield property.
This year’s drilling program generated the best near-surface results attained to date on the project. As well as several hundred meters extension along strike to the northeast, the drilling has significantly expanded the mineralized limits to the southeast, where one of the best near-surface intervals averaged 2.006 g/t Au over 87m, within 336 m averaging 1.004 g/t Au in hole GS19-52.
The results of the five final holes are reported below. Hole GS19-49 was drilled to 960.1 m, at -80° dip, on Section 111+00 NE next to the previously announced vertical hole GS19-48, which yielded 0.725 g/t Au over 838.5m, including an upper horizon that averaged 1.048 g/t gold Au over 328.5 m. Hole GS19-49 returned equally impressive results with a comparable 0.696 g/t Au over 826.5 m and the upper horizon averaging 0.998 g/t Au over 249 m. Along the same section, hole GS19-52 (-50° dip at 115° azimuth) was drilled much longer than expected because the Goldstorm system continues at least 700 m to the southeast ; GS19-52 averaged 1.004 g/t gold over 336 meters with a higher grade core of 2.006 g/t gold over 87 meters within the upper horizon.
Tudor Gold Exploration Manager, Ken Konkin explains: “Clearly the results of the previously reported deep vertical step-out holes demonstrate the impressive size and grade consistency of the Goldstorm system. Within the overall mineralized package of fragmental intermediate volcanic rocks there are several sub-horizontal horizons of significantly higher gold grades. The uppermost portions of the previously reported holes GS19-42, GS19-47 and GS19-48 contained respectively, 1.268 g/t gold over 252 m, 0.828 g/t gold over 301.5 m and 1.048 g/t gold over 328.5 m. We now have several other drill holes with excellent near-surface gold values to add to this list of growing intercepts. GS19-52 has returned the highest core gold grades of 2.006 g/t Au over 87 m within a 336m intercept of 1.004 g/t Au. These intercepts are part of the uppermost portion of the Goldstorm system which we refer to as the ‘300 Horizon’. The ‘300 Horizon’ remains open along strike to the northeast as well as to the southeast. In addition, the lower horizons of the Goldstorm system also remain open in all directions and the lowest horizon is open at depth.”
Furthermore, Mr. Konkin adds “We are seeing consistent silver and copper mineralization associated with the deeper gold horizons such as the previously reported 151.5 m zone of 0.572 g/t gold, 8.5 g/t silver and 0.21% copper that was intercepted from 665.0 to 816.5 m in GS19-47 and a 66.0 m zone with 0.958 g/t gold, 3.9 g/t silver and 0.35% copper, whichwas intercepted from 874.5 to 940.5 m in GS19-48. Similarly, we have now seen in GS19-49, a 78 m intercept averaging 1.145 g/t gold, 11.2 g/t silver and 0.21% copper (750-828 m) and in GS19-52 an 88.5 m interval averaging 0.352 g/t gold, 9.3 g/t silver and 0.25% copper (515-603.5 m). Not only does the Goldstorm Zone remain open at depth and along strike, we are now seeing base-metal associations possibly as part of a zonation within the hydrothermal system.”
The final three footwall extension holes (GS19-50, GS19-51 and GS19-53) were completed on section 110+00 NE. These were successful in extending the width of the mineralized zone to the southeast:
- Hole GS19-50 returned an average of 0.602 g/t Au over 577.5 m including 0.811 g/t Au over 267.0 m in the ‘300 Horizon’.
- Hole GS19-51 returned an average of 0.721 g/t Au over 246 m in the ‘300 Horizon’ and a lower horizon that averages 1.017 g/t Au over 40.5 m.
- Hole GS19-53 returned an average of 0.984 g/t Au over 147.0 m in the ‘300 Horizon’. GS19-53 was stopped in gold mineralization due to inclement end-of-season weather.
Table l provides gold composites from five drill holes recently completed on two sections that cut the Goldstorm Zone and Table ll provides the drill collar data, including drill hole location, elevation, inclination, azimuth and hole length. Results for other holes on the sections have been reported previously.
Table l: Gold Composites GS19-49 to GS19-53
|Section||Drill Hole||From (m)||To (m)||Intercept (m)||Gold Grade (gpt)|
|GS19-53**||drill hole stopped in mineralization, to be completed in 2020|
* All assay values are uncut and intervals reflect drilled intercept lengths (true widths of the mineralization have not been determined). HQ and NQ2 diameter core samples were sawn in half and typically sampled at standard 1.5m intervals.
Table ll: Drill Hole Data
|Section||Drill Hole||N_ N83_Z9||E_N83_Z9||ELEV_m||Azimuth||Inclination||DEPTH(m)|
URLS for the updated Goldstorm Zone Sections 110+00 NE and 111+00 NE as well as the DDH Plan map are included at the bottom of the news release.
Walter Storm, President and CEO of Tudor Gold, stated: “I am very pleased that the safe and successful 2019 exploration program has concluded on such a positive note. All 14 exploration drill holes hit their targets and they all returned very good results. The consistency of the mineralized intercepts from hole to hole is equally impressive. This years’ drill program has vastly increased the known size of the Goldstorm mineralized body but further drilling is essential to define the full length, width and depth of the system which still remains open in all directions.”
Dino Cremonese, P.Eng., President and CEO of Teuton, commented as follows: “2019 was a very successful year at Treaty Creek, without a doubt the best to date. I would like to take this opportunity to thank Walter Storm, President of Tudor Gold, along with his very competent Exploration Manager, Ken Konkin, and the rest of the Tudor geological team for a superb effort.”
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 Tudor Gold.
The Qualified Person for the technical information in this news release is Tudor Gold’s Exploration Manager, 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. The Qualified Person for Teuton Resources, Dino Cremonese, P. Eng. (who as President is not independent of the Company), has not reviewed the data but has no reason to believe it is unreliable.
Teuton’s Interest in Treaty Creek
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. None of the NSRs are subject to a buy-back. Teuton presently holds 2.975 million shares of Tudor Gold, the Operator of the Treaty Creek property.
URLs For Figures:
Strategic Corporate Review
Management is considering a spin-out of some of its Golden Triangle properties into a separate corporate entity in order to bring additional value to its shareholders. To this end, Management intends to communicate with shareholders in the coming months to gauge their support for or against this restructuring plan with a final decision on the matter expected early in 2020.
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. Over $2 million in option cash payments has been generated from these optioned properties since 2015, including properties where optionees have already earned their interest (this does not include the value of shares received from the optioning companies).
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.
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