Vancouver, Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TFE”- Frankfurt) has received an update on the recent identification of a high-grade gold system within the Goldstorm Deposit and a brief overview of the successful expansion of the Goldstorm Domains from Tudor Gold’s 2023 drill program (the “Program”) at the Treaty Creek Project, located in the heart of the Golden Triangle of Northwestern British Columbia. Tudor Gold is the Operator of the Treaty Creek Joint venture in which Teuton Resources holds a 20% carried interest (carried until a production decision) as well as a 0.98% net smelter royalty in the Goldstorm Deposit.
Ken Konkin, President and CEO of Tudor Gold commented: “We are extremely pleased to announce that we have delineated a high-grade gold system associated with a quartz-dominant veinlet and stringer stockwork system, named Supercell One (SC-1). This represents a significant economic target within the CS-600 domain. Our current Mineral Resource Estimate (MRE) caps gold equivalent (AuEq) grades at 8.0 g/t AuEq and therefore does not include these higher grades. Our current concept is that the SC-1 system, like the higher-grade R-66 domain, may represent a late-stage gold-dominant event that, in part, over prints the primary mineralization of the Goldstorm Deposit. This is significant, as these smaller, higher-grade systems have the potential to streamline start-up plans, allowing for rapid extraction of gold with the possibility of substantially lower capital expenditures compared to a much larger conceptual bulk tonnage operation.
Additionally, our technical team has completed the geologic modelling and domain delineation with the incorporation of the 2023 drilling data. Updated mineral domains show significant expansion of the Goldstorm Deposit in several areas [see URL at the end of this release for plan maps and cross sections of the SC-1 and the expanded domains]. These maps indicate how the drilling conducted in 2023 has the potential to convert several areas of the deposit from Inferred Mineral Resources to Indicated Mineral Resources. Despite the aggressive exploration and expansion of the Goldstorm Deposit, it remains open in all directions and at depth. The Company is currently in the process of updating the MRE for the Goldstorm Deposit and is expected to release the updated MRE within Q1 of 2024.”
Supercell One (SC-1) Characteristics and Intercepts
Minor pyrite and chalcopyrite are observed with fine-grained visible native gold within the newly crowned SC-1 system, which is contained within the CS-600 Domain. Three drill holes are interpreted to have intersected this structural corridor that contains significant quartz-sulphide breccia. Two of the three holes were completed late during the 2023 exploration campaign while the discovery hole, GS-22-134 (20.86 g/t AuEq over 4.5 m within a 25.5 m zone of 9.96 AuEq), was completed during the 2022 drilling campaign. Drill hole GS-23-176-W1 (15.64 g/t AuEq over 15.0 m) was designed as an offset step-out hole to the impressive gold intercept obtained within GS-22-134. With the third drill hole, GS-23-179 (10.07 g/t AuEq over 12.0 m), a northeast step-out, our technical crews were able to validate the SC-1 system, tracing SC-1 up-dip from GS-22-134 and GS-23-176-W1. To date, the high-grade gold-bearing, breccia stockwork system measures approximately 400 m down plunge and over 300 m along a northeastern axis. The true width of the mineralized structure is currently unknown.
Drill-hole highlights from SC-1 include the following intercepts:
- GS-22-134: 25.5 m of 9.96 g/t AuEq (9.66 g/t Au, 1.23 g/t Ag, 0.24 % Cu)
- GS-23-176-W1: 15.0 m of 15.64 g/t AuEq (14.89 g/t Au, 4.72 g/t Ag, 0.60 % Cu)
- GS-23-179: 12.0 m of 10.07 g/t AuEq (9.78 g/t Au, 1.35 g/t Ag, 0.23 % Cu)
Qualified Person
Mr. Ken Konkin, P. Geo., is the QP for Tudor Gold Corp. and has approved the technical information disclosed in a February 1, 2024 news release by Tudor Gold, which includes the same technical information contained within this release. D. Cremonese, P. Eng., is the Qualified Person for Teuton Resources Corp. (as President of the Company he is not independent of the Company). Mr. Cremonese has not personally verified the technical data taken verbatim from the Tudor Gold news release but he has no reason to doubt its accuracy.
QA/QC
Diamond 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 and the Company.
About Treaty Creek
Teuton was the original staker of the Treaty Creek property, host to the large Goldstorm deposit, assembling the core land position in 1985. It presently holds a 20% carried interest in the Treaty Creek Project (Tudor Gold is responsible for paying all exploration costs up until such time as a production decision is made and owns a 60% interest; American Creek Resources owns the remaining 20% interest, also carried). Additionally, Teuton owns a 0.98% Net Smelter Royalty in the Goldstorm deposit area as well as in the northern portion of the Perfectstorm zone; within the southern portion of the Perfectstorm zone, Teuton owns a 0.49% NSR with an option to increase that to 1.49% by paying $1 million to the current owner. It also owns numerous additional royalty interests within the Sulphurets Hydrothermal system on formerly 100%-owned properties such as the King Tut, Tuck, High North, Orion, Delta and Fairweather properties (King Tut and Tuck now owned by Newmont Mining; High North, Orion, Delta and Fairweather properties now owned by Goldstorm Metals).
The Treaty Creek Project contains the Goldstorm Deposit (a large gold-copper porphyry system) as well as several other mineralized zones. As disclosed in the March 2023 News Release, the Goldstorm Deposit has an Indicated Mineral Resource (as defined in NI 43-101) of 23.37 Moz of AuEq grading 1.13 g/t AuEq (18.75 Moz gold grading 0.91 g/t, 2.18 Blbs copper grading 0.15 %, 112.4 Moz silver grading 5.45 g/t) and an Inferred Mineral Resource (as defined in NI 43-101) of 7.35 Moz of AuEq grading 0.98 g/t AuEq (5.54 Moz gold grading 0.74 g/t, 0.85 Blb copper grading 0.16 %, 45.08 Moz silver grading 5.99 g/t), with a pit constrained cut-off of 0.5 g/t AuEq and an underground cut-off of 0.7 g/t AuEq. The Goldstorm Deposit has been categorized into three dominant mineral domains and several smaller mineral domains. The CS-600 domain largely consists of an intermediate intrusive stock and hosts the majority of the copper mineralization within the Goldstorm Deposit. CS-600 has an Indicated Mineral Resource of 9.86 Moz AuEq grading 1.10 g/t AuEq (6.22 Moz gold grading 0.70 g/t, 1.98 Blbs copper grading 0.32 %, 51.1 Moz silver grading 5.71 g/t) and an Inferred Mineral Resource of 3.71 Moz AuEq grading 1.19 g/t AuEq (2.32 Moz gold grading 0.75 g/t, 0.76 Blb copper grading 0.36 %, 18.71 Moz silver grading 6.01 g/t). The Goldstorm Deposit remains open in all directions and requires further exploration drilling to determine the size and extent of the deposit.
1 AuEq = Au g/t + (Ag g/t*0.0098765) + (Cu ppm*0.0001185)
About Teuton
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. This model minimizes share equity dilution while at the same time maximizing opportunity. Earnings provided from option payments received, both in cash and in shares of the optionee companies over the past 7 years, has provided Teuton with substantial income.
Plans Maps/Cross-Sections:
On Behalf of the Board of Directors of Teuton Resources:
“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:
Barry Holmes
Director Corporate Development and Communications
Tel. 778-430-5680
Email: bholmesmba@gmail.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.
