Teuton Resources Corp. (“TUO:TSX-V”) (“Teuton”) and Silver Grail Resources Corp. (“SVG:TSX-V”) (“Silver Grail”) are pleased to announce that several promising geophysical targets have been identified on the Clone property, currently under option to Canasia Industries Corporation (“CAJ.H:TSX-V‘) (Canasia). The Clone property is situated 12 miles southeast of Stewart, British Columbia.
Approximately $3 million was spent on the Clone from 1995-98, mostly on drilling of five sub-parallel shears (Main zone) carrying gold and cobalt mineralization. Drilling in the same area in 2003 returned a drill intercept of 27.8 feet grading 2.357 oz/ton gold (see News Release dated Dec. 9, 2003).
Highlights from the interpretation of the recently completed Aeroquest EM and Magnetometer survey carried out over the Clone property are as follows:
• At least four new, NW-trending, magnetic lows have been identified, similar to the NWtrending,magnetic low which hosts the high-grade gold-bearing shears in the Main zone.
• One of these, the “Derby zone”, lying 800 metres northeast of the Main zone in an area partially exposed by ablation (meltback of snow and ice) is interpreted as a thrust slice repeating the geological units within the Main zone.
• The Derby is particularly prospective because the airborne survey also detected several parallel conductive (EM) sources within the magnetic low which may be due to mineralization in Clone-type shears.
• Teuton, Silver Grail and Canasia have substantially increased the size of the Clone property by recent staking.
Ground-truthing of the anomalous geophysical targets is to proceed as soon as field conditions permit. Targets prioritized by this work are to be followed up by diamond drilling.
D. Cremonese, P.Eng., is the Qualified Person for Teuton Resources Corp. and Silver Grail Resources Corp., in regard to data presented in this News Release.
“D.Cremonese, P.Eng.”, President
Teuton Resources Corp
Silver Grail Resources Corp.
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