March 4, 2020 – Vancouver, Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TUC”- Frankfurt) has received a report from JV partner Tudor Gold concerning gold-equivalent (AuEq) calculations for all drilling completed at the Company’s flagship Treaty Creek project. These calculations add to gold (Au) values credits for previously analyzed values for copper (Cu) and silver (Ag). Geological analysis and reinterpretation of all the drill holes to date exposed a new copper horizon (CS 600 horizon) as well as significant silver and copper mineralization throughout the Goldstorm system.
The Goldstorm Zone on 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.
- The strongest AuEq increase was seen in the newly discovered NE Extension within the 300 Horizon. The gold-only result of 1.27 gpt Au over a 252 metre (m) interval increased to 1.51 gpt AuEq (with 13.8 gpt Ag and 504 ppm Cu), an increase of 18.9%.
- All drill holes within the Goldstorm Zone had significant increases to the composite results when the AuEq values for the copper and silver mineralization were included; however, when the drill holes intersected the CS-600 Horizon, the copper values within this mineralized body had the greatest impact to an individual horizon with up to 79.8% increase to the AuEq value from a gold-only 0.39 gpt Au over 150m to 0.70 gpt AuEq over the same 150m interval.
- P&E Mining Consultants Inc. were retained to assess all Goldstorm drill hole results and historical data in order to render an opinion as to the consistency of the gold mineralization as well to ascertain the recommended drill hole spacing that would be required to potentially derive a Indicated Mineral Resource and a Measured Mineral Resource. P&E Mining Consultants Inc. concluded the following:
- “Three dimensional continuity analyses of the Treaty Creek drill hole assay results were carried out for the Goldstorm Zone. The regional geological trend was used to guide the selection of horizontal, across-strike, and dip-plane directions during variogram fan analysis. Variogram fans were generated separately for Ag, Au, Cu, Pb, and Zn uncapped composite samples in each zone.
- All modeled semi-variograms display a very low nugget effect, and display long range continuity down the plunge of the mineralization and along the regional strike of the deposits.
- For the Goldstorm Zone, a drill spacing of 200 m is recommended for Indicated Mineral Resources, and 100 m for Measured Mineral Resources.”
- Tudor Gold’s goal is to design a diamond drill hole program that will fast-track the exploration program for 2020 with the objective to begin the Mineral Resource Estimate work as soon as possible.
Tudor Gold’s Vice President of Project Development, Ken Konkin P.Geo. comments: “We are very encouraged to see that the silver and copper mineralization has made an important impact to the AuEq results from our recent drilling as well as the historical drilling. The next step is to plan the drill hole program for the 2020 exploration season. We continue to work with our Mineral Resource Estimate geologists and engineers from P&E Mining Consultants to plan the drill hole program in order to optimize the drilling and to attempt to fast-track the exploration program for this coming drill season.”
Table l provides gold equivalent composites from the 2019 drilling and all historical drilling within the Goldstorm Zone. Table ll contains the drill data including collar location, depth of drill hole as well as the dip and azimuth for all drill hole.
TABLE l: Au Eq COMPOSITES GOLDSTORM ZONE
|Section||HOLE ID||From||To||Interval (m)||AuEq g/t||Au g/t||Ag g/t||Cu ppm||% increase||Horizon|
|107+00 NE||CB-18-32||196.50||783.50||587.00||0.542||0.497||1.6||177||9.1%||300 + CS600|
|109+00 NE||GS-19-43||68.00||561.50||493.50||0.608||0.566||1.36||174||7.4%||300 + CS600|
|109+00 NE||GS-19-46||34.50||628.50||594.00||0.550||0.510||1.31||165||7.8%||300 + CS600|
|110+00 NE||CB-18-37B||125.00||912.00||787.00||0.473||0.427||1.2||212||10.8%||300 + CS600|
|110+00 NE||GS-19-50||148.00||725.50||577.50||0.681||0.602||1.99||372||13.1%||300 + CS600|
|111+00 NE||GS-19-48||97.50||1024.50||927.00||0.793||0.677||3.00||543||17.1%||300 + CS600|
|111+00 NE||GS-19-49||81.00||907.50||826.50||0.800||0.696||3.40||429||14.9%||300 + CS600|
|111+00 NE||GS-19-52||62.00||663.50||601.50||0.783||0.668||3.25||513||17.2%||300 + CS600|
|112+50 NE||GS-19-42||63.50||843.50||780.00||0.849||0.683||5.80||650||24.3%||300 + CS600|
|114+00 NE||GS-19-47||117.50||1199.00||1081.50||0.697||0.589||3.40||450||18.3%||300 + CS600 + DS|
* All assay grades are uncut and intervals reflect drilled intercept lengths. True widths have not been determined as the mineralized body remains open in all directions. Further drilling is required to determine the mineralized body orientation and true widths.
HQ and NQ2 diameter core samples were sawn in half and typically sampled at standard 1.5m intervals.
**Metal prices used to calculate the AuEq metal content are: Gold $1322/oz, Ag: $15.91/oz, Cu: $2.86/lb. All metals are reported in USD and calculations do not consider metal recoveries.
TABLE ll: Goldstorm Zone Drill Hole Data
The goal is to design a diamond drill hole program for the 2020 exploration program with the objective to begin the Mineral Resource Estimate work at the end of the 2020 field season. Tudor hopes to accomplish as much drilling needed to bring a Measured and Indicated Mineral Resource Estimate forward as quickly as possible.
Walter Storm, President and CEO of Tudor Gold, stated: “These new gold equivalents are extremely encouraging as our technical team continues to take positive steps advancing Tudor Gold’s flagship Treaty Creek Au-Ag-Cu project. Furthermore we received good news from P&E Mining Consultants Inc. that the drill hole spacing required to derive a Measured Resource is 100 meters due to the homogenous nature of the AuEq composites obtained to-date. During the new few weeks, our geologist and engineers will continue to work with the geological model and begin to prepare the diamond drill hole proposal for 2020.”
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 this news release for the purposes of National Instrument 43-101 is the Company’s Vice President of Project Development, 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.
URLs For Figures:
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. Seven of these properties are currently under option to third parties. Over $4 million in option cash payments and shares in optionee companies has been generated from these properties since 2015, including properties where optionees have already earned their interest.
Teuton also owns many royalties in the Sulphurets Hydrothermal System with interests ranging up to 2.5%. None of these royalties 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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