Teuton Resources Corp. (“TUO”) (“Teuton”) and Lateegra Resources Corp. (“LEG”) (“Lateegra) are pleased to announce encouraging results from the first two holes drilled in 2004 on the Del Norte property, situated 32 km east of Stewart, British Columbia. Rush assays were also received from Hole DN04-20 and these results are included below. Samples from this latter hole were rushed because of the unusual chalcedonic quartz observed in the LG vein intersection, and to determine whether deeper drilling was warranted in the immediate area. Because of the outstanding results from this hole, a deep test is now under way from a new pad situated to probe depth extensions to 300m.
|Drill Hole||From (metres)||To (metres)||Interval (metres)||Silver (oz/ton)||Gold (oz/ton)||Equiv.* (oz/ton)|
|* Based on 65:1 ratio between current gold and silver prices|
The first two holes were drilled from Pad “C”, located approximately 100m south of Pad “A”, and at dip angles of 65 and 75 degrees, respectively. Because core recovery was very poor in the interval immediately preceding the 0.75m LG vein intersection in Hole DN04-01 (as tabulated above), it was not possible to obtain a representative sample for this interval; it may be that the LG vein is wider in this hole than indicated. Hole DN04-20 was drilled at a dip of 62.5 degrees from Pad “E”, situated approximately 200m south of Pad “A”. (see map) Both drills are currently working on the property and core-splitting and assaying is ongoing. Over 32 holes have been drilled to date.
New zone discovered in recent drilling
Both holes DN04-30 and 31 have encountered brecciated mineralization consisting of silica impregnated with extremely fine-grained gray sulfides. The 1.5 to 2.5m wide zones are hosted within felsic volcanics intercalated with carbonaceous, pyritic argillite. Krzystof Mastalerz, Ph.D., one of the Teuton geologists on site, believes this mineralization may be related to a “black smoker”.
Hole DN04-30 had to be abandoned either within, or just at the end of the zone, due to caving. Hole DN04-31, drilled at a steeper dip, continued through this new zone and intersected LG vein type mineralization well beyond it, establishing that the two types of mineralization are distinct. Both these holes were drilled from Pad “K” situated 70m south of Pad “E”.
Textures observed in the silica-sulfide breccia and the local stratigraphic setting and mineralogy of the LG vein (gold and silver values associated with sulfosalts hosted in chalcedonic quartz, anomalous arsenic in adjacent felsic tuffs) may indicate a subaqueous hot spring environment. This gold-silver deposit type has received increasing exploration attention in the past fifteen years following the discovery of high-grade gold and silver deposits at Eskay Creek, located 90 km northwest of the Del Norte property. The Eskay Creek mine is currently one of the lowest cost gold producers in the world.
Alex Walus, P. Geol., is the Qualified Person in charge of the 2004 program on the Del Norte property. Pioneer Laboratories of Richmond, B.C., an accredited facility, is in charge of analyzing the Del Norte core.
ON BEHALF OF THE BOARD OF DIRECTORS
Dino Cremonese, P.Eng.
President and Director Teuton Resources Corp
Minvita Enterprises Ltd.
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