The Treaty Creek property lies within the Sulphurets Hydrothermal System (“SHS”) in the southern, most gold-rich portion of British Columbia’s famous “Golden Triangle”. This system—marked by kilometers of bright yellow, orange and red zones of alteration (gossans)—hosts the world’s largest undeveloped gold and copper reserves in the Kerr, Sulphurets, Mitchell and Iron Cap deposits owned by Seabridge Gold. To the east, next door, lies a giant gold porphyry deposit known as the “Snowfield”. This is hosted in the northern portion of Pretium Resources’ very large, Snowfield-Brucejack property. Further south and still well within the SHS is Pretium’s exceptionally high-grade Valley of the Kings gold deposit which recently entered into commercial production after $1Billion in construction costs [see Sulphurets Hydrothermal System map, adjacent].
Studies by the British Columbia Geological Survey have shown that all of the Seabridge Gold deposits lie along an important geological contact, now known as “Kyba’s Red Line”. They are also all spatially related to a prominent thrust fault, the Sulphurets. Both the Red Line and the Sulphurets thrust fault pass northeastward from the KSM property into the Treaty Creek property continuing onward for kilometres. Although exploration at Treaty Creek has been minor compared to the hundreds of millions of dollars spent to date at both neighbouring properties (KSM and Snowfield-Brucejack), it has resulted in the delineation of two gold zones, the “Copper Belle” and “Goldstorm”, which are showing some promising gold results. The last hole of 2018 into the Goldstorm returned 568 metres of 0.98 g/t gold and ended in mineralization..
Ken Konkin, winner of B.C.’s Spud Huestis award and for many years Exploration Manager at Pretium, has joined Tudor Gold’s team and will be directing the 2019 program at Treaty Creek. He has likened mineralization in the Goldstorm zone to that at Pretium’s Snowfield deposit. Drilling commenced at Treaty in June of 2019 and first results are expected before the end of summer.
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.
American Creek Resources (“AMK”) owns a 20% carried interest in the property, meaning it does not have to pay for exploration until such time as a production decision is made.
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 and a 0.49% royalty interest in the peripheral claims, neither of which are subject to a buy back.
The early history of Treaty Creek is quite colourful. Treaty Creek was found by prospectors Knipple and Williams in 1928. There is some speculation that they originally spotted it from the air and afterwards made the 70 mile trek into the property from Stewart along trails and traplines. Knipple and Williams had interested C.M. & S. Co. (Cominco) in the discovery which, on the basis of the strong alteration noted in the surrounding rocks, surveyed 57 Crown-granted mineral claims. Some gold and copper was apparently discovered (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. Thereafter the property lay dormant until the large, central gossan was staked by “Big Ed” Kruchkowski in the early 1980’s. In 1983, Dino Cremonese of Teuton Resources purchased the central Treaty Claim from Kruchkowski and subsequently staked a large tract of ground to cover extensions of the large alteration zones to the southwest and northeast.
[Cominco was an active explorer in the Stewart region between the late 1920’s and early 1930’s. They carried out a placer mining operation on Nelson Creek for a number of years on ground now controlled by Teuton Resources’ Del Norte property, they staked and explored some massive sulfide prospects in the Bear River Region (which can be seen high up on the cliffs on the south side of the road when one drives into Stewart from Meziadin Junction) and they also staked and explored various parcels of ground in the Johnny Mountain area along the Iskut river. This latter area was re-examined in the 1980’s and eventually optioned to Delaware Resources who developed it into the high-grade Snip Mine which produced approximately a million ounces of gold from 1991 to 1999 The former Snip mine is presently being re-explored by Skeena Resources.]
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, under terms whereby both Teuton and AMK retained 20% carried interests each, while Tudor Gold held the remaining 60% interest. Tudor Gold will be responsible for all exploration expenditures until such time as a production decision is made. Teuton also retains a 0.98% NSR in the core claims of the Treaty Creek property as well as 0.49% NSR in the surrounding claims.
Goldstorm Zone Flyover
June 5, 2018: Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TUC”-Frankfurt) is pleased to pass on this report extracted from a June 4, 2018 news release from Tudor Gold, operator of the Treaty Creek property. Tudor Gold reports that work is most encouraging and that another 8 to 16...
Teuton Resources Reports on JV Partner Tudor Gold’s 2018 Exploration Plans for Treaty Creek Property, Golden Triangle
March 13, 2018: Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TUC”-Frankfurt) is pleased to report that JV partner Tudor Gold has identified several targets for exploration in 2018 on the Treaty Creek property, situated northeast of the KSM property of Seabridge Gold in the Golden Triangle region of northwestern...
January 24, 2018: Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TUC”-Frankfurt) is pleased to report an additional 3 holes from a 27-hole, 2017 drill program on the Copper Belle zone within the Treaty Creek property, situated north of the KSM property of Seabridge Gold in the Golden Triangle region...