September 29, 2020 – Vancouver, Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TFE”- Frankfurt) has received an exploration update from its optionee, Decade Resources, regarding recent work on both the Lord Nelson and Del Norte properties, located in the Golden Triangle region of northwest British Columbia.
Lord Nelson Exploration
Highlights of work to date on the Lord Nelson property include:
- Exploration on the Lord Nelson tenures indicate gold-copper bearing stringers in a stockwork zone that is at least 120 to 200 m wide.
- Work to date indicates that the zone appears to be at least 1.2 km long.
- Gold values ranging from 0.7 to 475 g/t and copper values ranging from 1.4 to 11.9% in grab samples were obtained.
- The newly defined zone is along the Lord Nelson/Del Norte property boundary.
The following table shows the results for sampling on this newly outlined zone:
|Sample Number||Sample Type||g/t Gold||g/t Silver||% Copper|
*Grab samples are solely designed to show the presence or absence of any mineralization and to characterize the metal tenor in this mineralization. Grab samples are by definition selective and not intended to provide nor should be construed as a representative indication of grade or mineralization at the property; and the grab samples analysed from the property reflect a broad range in grade from below detection limit to the grades highlighted herein.
Sampling was conducted over an area that was at least 100 m in diameter where mineralization was exposed. A photo of mineralized outcrop showing abundant copper carbonates is attached.
Del Norte Exploration
The Company has completed over 4500 m of drilling in 19 holes to date testing both the “Argo” zone –a 115 m wide north-south zone of deformation and the newly discovered Eagle’s Nest zone. The drilling has indicated that mineralization is hosted by black mud lapilli tuffs that appear to have repeat sections due to thrusting and faulting. Mineralized zones host sulphides including pyrite, sphalerite, galena and tetrahedrite mineralization along with sections mineralized by fine acicular arsenopyrite. First assays are expected within the coming weeks.
A photo of a 20 m mineralized section of core and quartz with sulphides is attached (from DDH-20-17).
With the prospect of colder weather, drilling is now being conducted at lower elevations in order to further define the silver-gold system on the property.
E. Kruchkowski, President of Decade Resources stated: “the Company has had a very successful program in spite of the late July start and bad weather conditions. It is a tribute to the geologists and drillers working on behalf of the Company. It is not often that a company can have 2 very successful exploration programs that are operating concurrently. The Company has been able to farm into 2 highly prospective areas that have an abundance of both mineral showings and types. We look forward to the results which will aid in future programs.”
Decade reports that exploration work is being conducted from Stewart in order to avoid a camp situation that may lead to health concerns due to the COVID-19 virus. The Company uses a Stewart based helicopter for support. A pad building crew, diamond drill crew and support staff mobilize on a daily basis from a staging area near the project. The geological crew is one that the Company has relied on for a number of years and which has intimate knowledge of the property.
All drill cores in this program are NQ in size. The core is brought into Stewart on a daily basis where it is logged for cutting on a diamond saw. Assays are to be completed on sawn half cores, with the second half kept for future reference. The samples will be analyzed using 30 element ICP and standard fire assay procedures with atomic absorption (AA) finish on samples yielding a grade higher than ten g/t Au. Standard reference materials and blank samples were inserted prior to shipment for quality assurance and quality control (QA/QC) program.
Analysis will be performed by Activation Laboratories Ltd in Kamloops BC.
The Qualified Person for this news release for the purposes of National Instrument 43-101 is Decade Resources president, E. Kruchkowski, P. Geo. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release. Dino Cremonese, P. Eng., is the Qualfied Person for Teuton Resources and as President is not independent of the Company.
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. Ten of these properties are currently under option to third parties. Over $4 million in option cash and share payments has been generated from these properties since 2015, including properties where optionees have already earned their interest.
One of Teuton’s properties, the Treaty Creek, is presently the subject of a multi-million dollar exploration program testing the Goldstorm zone with six diamond drills. Teuton was the original staker of this 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 also owns eight other royalties in the Sulphurets Hydrothermal System with interests ranging up to 2.5%, none of which are subject to a buyback. 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.
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.