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 Pretium Resource’s producing, high-grade Valley of the Kings gold mine and very large porphyry gold deposit, the Snowfields. The SHS also covers Seabridge Gold’s extensive KSM property which contains the largest reserves in the world of copper-gold mineralization in four giant deposits, the Iron Cap, Mitchell, Sulphurets and Kerr. The entire area is marked by kilometers of bright yellow, orange and red zones of alteration (gossans) which can be seen from miles away.
The Goldstorm zone on the Treaty Creek property has been explored for the past four years and is beginning to show signs that it has the potential to rival the size and grade of other mega-porphyry gold deposits in the SHS. In 2019, Hole GS-19-42 yielded 0.849 g/t Au Eq over 780 metres with 1.275 g/t Au Eq over 370.5 metres and GS-19-47 yielded 0.697 g/t Au Eq over 1,081 5 metres with 0.867 g/t Au Eq over 301.5 metres. The current known length of the northeast axis of the Goldstorm System is over 850 meters long 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 Release regarding Treaty Creek elsewhere in the website].
Tudor Gold, Operator of the Treaty Creek Joint Venture, estimates that 18.000 to 20,000 metres will be drilled in the Goldstorm in 2020. Earlier in the year, well-known Canadian gold mining financier Eric Sprott took down large private placements in Tudor Gold as well as in the remaining two joint venture partners, Teuton Resources and American Creek.
Ken Konkin, winner of B.C.’s Spud Huestis award and for many years Exploration Manager at Pretium, joined Tudor Gold’s team in 2019 and will be directing the 2020 program at Treaty Creek. He has likened mineralization in the Goldstorm zone to that at Pretium’s Snowfield deposit.
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 (which cover the Goldstorm zone) and a 0.49% royalty interest in the peripheral claims, neither of which are subject to a buy back.
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.
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
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...
January 16, 2018: Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TUC”-Frankfurt) is pleased to report an additional 17 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...