The Delta property lies to the south of Teuton’s former King Tut and Tuck properties (these two properties were purchased by Pretium Resources in 2015 and lie immediately south of Pretium’s Valley of the King property). The Delta property consists of two parts: the larger part is the Delta East, the smaller the Delta West. Delta was optioned to Tudor Gold in 2015-16. Once Tudor Gold earns its interest by making various cash and share payments, Teuton will retain a 1.5% NSR in Delta East and a 2.5% NSR in Delta West.
In 1985 prospecting on the Delta disclosed an area of highly anomalous heavy metal stream sediments, ranging from 1,255 to 6,500 pbb gold and from 20.0 to 141 ppm silver, occurring within an altered zone partially composed of sericite schists. The property was subsequently optioned to Canarc Resources which carried out property wide geochemical surveys as well as minor geophysics. A Canarc geologist stated: “Geophysical IP anomalies in the vicinity of the J Zone indicate the possible presence of metal sulfides near a rhyolite-argillite contact. Some potential exists for Eskay Creek-type gold rich massive sulfide deposits on the Delta Property”.
After the property was returned to Teuton, some minor prospecting and drilling was carried out on targets in the Feld Gossan area. Although some substantial gold values were obtained in surface sampling, from 0.74 to 47.8 g/t gold, the limited drilling that took place encountered only narrow gold intersections. Another small drill program intersected narrow intervals of what appeared to be massive sulfide type mineralization.
Over $1 million has been spent on the property to date.