Treaty Creek Property

Resource Estimate:

The Goldstorn/Copper Belle zones host Measured and Indicated Resources of 19.4 Million Gold Eq. Ounces (815.7 Million Tonnes grading 0.74 g/t Au Eq.). In addition, there are Inferred Resources of 7.22 Million Gold Eq. (311.7 Tonnes grading 0.79 g/t Au Eq.). Click below for details. Exploration aimed at expanding the resources is continuing with 4 drills as of June, 2021.

INITIAL MINERAL RESOURCE ESTIMATE SUMMARY

Pit Constrained Mineral Resource Estimate
Classification Cut-Off

AuEq gpt

Tonnes Million Au

gpt

Ag

gpt

Cu

%

AuEq gpt Au 

M oz

Ag

M oz

Cu

M lb

AuEq

M oz

Measured 0.30 283.2 0.71 2.9 0.03 0.76 6.49 25.96 187.3 6.89
Indicated 0.30 326.6 0.59 3.5 0.08 0.69 6.21 37.25 583.2 7.26
Meas & Ind 0.30 609.8 0.65 3.2 0.06 0.72 12.70 63.20 770.5 14.15
Inferred 0.30 139.4 0.72 3.6 0.04 0.77 3.22 16.29 113.7 3.46
                     
Out-of-Pit Mineral Resource Estimate
                     
Classification Cut-Off

AuEq gpt

Tonnes Million Au

gpt

Ag

gpt

Cu

%

AuEq gpt Au

 M oz

Ag

M oz

Cu

M lb

AuEq

M oz

Measured 0.46 15.4 0.71 3.9 0.06 0.79 0.35 1.95 19.0 0.39
Indicated 0.46 190.5 0.70 4.6 0.07 0.80 4.28 28.26 306.6 4.88
Meas & Ind 0.46 205.9 0.70 4.6 0.07 0.80 4.63 30.21 325.6 5.26
Inferred 0.46 172.3 0.72 4.4 0.06 0.80 4.00 24.28 216.5 4.43
                     
Total Mineral Resource Estimate
                     
Classification Cut-Off

AuEq gpt

Tonnes Million Au

gpt

Ag

gpt

Cu

%

AuEq gpt Au

 M oz

Ag

M oz

Cu

M lb

AuEq 

oz

Measured 0.30 & 0.46 298.6 0.71 2.9 0.03 0.76 6.84 27.91 206.3 7.28
Indicated 0.30 & 0.46 517.1 0.63 3.9 0.08 0.73 10.49 65.50 889.8 12.13
Meas & Ind 0.30 & 0.46 815.7 0.66 3.6 0.06 0.74 17.33 93.41 1,096.1 19.41
Inferred 0.30 & 0.46 311.7 0.72 4.0 0.05 0.79 7.22 40.57 330.2 7.90
  1. Mineral Resources are not Mineral Reserves do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. There is no certainty that Mineral Resources will be converted to Mineral Reserves.
  2. The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.
  3. The Mineral Resources in this news release were estimated in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions (2014) and Best Practices Guidelines (2019) prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.
  4. Metal prices used were US$1,625/oz Au, US$19/oz Ag, US$2.80/lb Cu with process recoveries of 88% Au, 30% Ag and 80% Cu. A C$16.50/tonne process and C$2 G&A cost were used.
  5. The constraining pit optimization parameters were C$2.50/t mineralized and waste material mining cost and 50-degree pit slopes with a 0.30 gpt AuEq cut-off.
  6. The out-of-pit parameters were at a C$10/t large scale bulk mining cost. The out-of-pit Mineral Resource grade blocks were quantified above the 0.46 gpt AuEq cut-off, below the constraining pit shell and within the constraining mineralized wireframes. Out–of-Pit Mineral Resources exhibit continuity and reasonable potential for extraction by a bulk underground mining method.

Mineral Estimate Highlights include:

  • The classifications of Measured, Indicated and Inferred Mineral Resources for gold, silver, copper and gold-equivalents and their respective tonnage are listed in Table 1 below. In addition to the 17.33 million ounces of gold Measured and Indicated Mineral Resource and 7.22 million ounces of gold Inferred Mineral Resource, there are 93.41 million ounces of silver estimated as Measured and Indicated Mineral Resources with an additional 40.57 million ounces of Inferred silver Mineral Resource.  The Measured and Indicated Mineral Resource also estimates 1.096 billion pounds of copper with an additional 330 million pounds of copper as an Inferred Mineral Resource.
  • A bulk density of 2.80 t/m3 was based on measurements taken by P&E during their field visits.
  • 5m x 5m x 5m three-dimensional block model was used for the Mineral Resource Estimate. Measured Mineral Resources are informed by four of more drill holes within 100 metres; Indicated Mineral Resources are informed by four of more drill holes within 200 metres.

Summary

The Treaty Creek property is located within the Golden Triangle region of northwestern British Columbia, in the northern portion of the prolific Sulphurets Hydrothermal System (“SHS”)—host to kilometers of bright yellow, orange and red zones of alteration (gossans) which can be seen from miles around.  Principal deposits in the region include Pretium Resource’s producing, high-grade Valley of the Kings gold mine as well as Seabridge Gold’s Iron Cap, Mitchell, Sulphurets and Kerr deposits.   Seabridge Gold recently added to its gold resources by purchasing from Pretium the large Snowfield gold deposit lying just to east of the Mitchell.  

The Goldstorm/Copper Belle zone on the Treaty Creek property, owned by Tudor Gold (60%), Teuton Resources (20%) and American Creek (20%), is the newest addition to the “string of pearls” in the Sulphurets Hydrothermal System.  This string stretches from the Kerr deposit in the south through the Iron Cap and now onto the Goldstorm/Copper Belle.  All of these very large mineral deposits are spatially associated with the Sulphurets thrust fault. 

 Under the terms of the joint venture with Teuton and American Creek, Tudor Gold must pay for all exploration costs until such time as a production decision is made.  In March of 2021 a maiden resource was released on the Goldstorm and adjacent Copper Belle zones.  Current plans for 2021 included expanded diamond drilling aimed at increasing the number of measured and indicated resources on the Goldstorm/CB and drilling for potential further gold or gold-copper discoveries elsewhere on the property such as in the Perfect Storm, Northeast and Eureka zones.

The current known length of the northeast axis of the Goldstorm System is over 1,150m and the southeast axis is at least 600m across. The system remains open in all directions and to depth.  [Interested readers can review the history of drilling of the Goldstorm by referencing News Releases regarding Treaty Creek elsewhere in the website]. 

Click here to download map as PDF.

Ownership of Treaty Creek

Tudor Gold Corp. (“TUD”) owns a 60% interest in Treaty Creek and is the Operator of the project.  It Is responsible for paying all costs associated with exploration up until such time as the property has a positive feasibility decision.  To December 31, 2020, Tudor Gold has spent more than $40 million on the property.

Teuton Resources (“TUO”) is the original owner of Treaty Creek.  It now holds a 20% carried interest in the property, meaning it does not have to pay for exploration costs until such time as a production decision is made.  It also holds a royalty interest of 0.98% in the core portion of the property (which cover the Goldstorm/CB zones)  and a 0.49% royalty interest in the peripheral claims, neither of which are subject to a buy back.  American Creek Resources (“AMK”) owns the remaining 20% carried interest in the property.

Well-known Canadian mining financier, Eric Sprott, has taken down large private placements in Tudor Gold as well as in the remaining two joint venture partners, Teuton Resources and American Creek.  His last private placement into Teuton was carried out in July of 2020 and consisted of 3 million shares at $3/share without a warrant.  Mr. Sprott now owns  % in Teuton and % partially diluted (upon exercise of warrants).

In April of 2021, Teuton invested $9.6 million into Tudor Gold, purchasing 1 million flow-through shares at $3.60/share and 2 million non-flow-through shares at $3.00/share.  

History of Treaty Creek

From 1985 to 2015, Treaty Creek was explored by Teuton and five separate optionees (Tantalus Resources, Homestake Mining, Global Explorations, Heritage Explorations and American Creek Resources).  Around $9 million was spent during this period resulting in the discovery of multiple zones of precious metal mineralizaton.  In 2016, Teuton and co-owner American Creek (“AMK”), optioned the property to Walter Storm’s vehicle, Tudor Gold. 

Treaty Creek was originally discovered by prospectors Knipple and Williams in 1928, who then interested C.M. & S. Co. (Cominco) in the claims.   Some gold and copper was apparently found (there are no assay records of this early work) but Cominco eventually dropped the property.   Knipple and Williams returned to the property in the 1950’s and are reported to have discovered some high-grade silver-bearing float on the glacier as well as a narrow tetrahedrite-bearing vein in place.  In 1983-4,  Dino Cremonese, before Teuton was a public company, staked a large tract of ground covering the current Goldstorm/CB deposit.  Afterwards Teuton purchased a 20 unit claim from Elan Exploratoins covering the present campsite area (Eureka zone).   

Treaty Creek central gossan.
View from Iron Cap Deposit looking north to southern end of Treaty Creek Property (Area 2).

Goldstorm Zone Flyover

Property Gallery

Property News

972.0 Meters of 1.265 g/t Gold Eq Including 405.0 Meters of 1.439 g/t Gold Eq And 456.0 Meters of 1.352 g/t Gold Eq Intersected in Step-Out Drill Hole GS-21-113 at The Goldstorm Deposit, Treaty Creek, Northwest B.C

Vancouver, Canada –– Teuton Resources Corp.  (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TFE”- Frankfurt) has received a report from its joint venture partner Tudor Gold presenting the second set of results from the 2021 resource expansion and definition drilling program for the Goldstorm Deposit at the Treaty Creek property. The project...

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Teuton Announces Gold Intersections of 130.5 Meters of 2.389 g/t Gold Eq within 474.0 Meters of 1.039 g/t Gold Eq in Drill Hole GS-21-110 and 168.0 Meters of 1.391 g/t Gold Eq within 801.0 Meters of 0.704 g/t Gold Eq in Drill Hole GS-21-103 at the Goldstorm Deposit, Treaty Creek, Northwest B.C

Vancouver, Canada –– Teuton Resources Corp.  (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TFE”- Frankfurt) has received a report from its joint venture partner Tudor Gold presenting the first results for the 2021 resource expansion and definition drilling program for the Goldstorm Deposit at the Treaty Creek property. The project is located...

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Four Drills Operating at the Treaty Creek Property, Northwestern BC (Golden Triangle)

Vancouver, Canada –– Teuton Resources Corp.  (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TFE”- Frankfurt) has received a report from its joint venture partner Tudor Gold announcing that two additional drill rigs have arrived at Treaty Creek (the “Project”), located in the heart of the Golden Triangle of Northwestern British Columbia. Diamond...

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