The Tuck property was optioned to Pretium Resources (see News Release dated August 10, 2015) for $1.8 million in cash payable over four years. Teuton will retain a 2% NSR in the property with no buyback.
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Summary

The Tuck property lies immediately south of Teuton’s King Tut property, along the same southerly trend of Jurassic age rocks that host the various gold deposits of Pretium’s Brucejack property.

Prospecting carried out in 2014 led to the discovery of an extensive zone  of alteration and mineralization which had just been recently exposed by ablation (meltback) of an icefield.   The zone is now exposed for 300m along strike before disappearing under snow and ice.

Gold and anomalous arsenic values are associated with intensely sericite altered volcanic rock. The altered rocks are jarosite stained with a strong quartz stockwork that locally forms up to 50% of the rock. Pyrite as coarse grains and as fine grained veinlets up to 1cm wide form up to 10% of the zone overall. A fine black unidentified sulphide occurs in some of the rocks sampled.

Ed Kruchkowski, P. Geo., director of Teuton and longtime Stewart area geologist (who staked the original area of Pretium’s Valley of the King showings and discovered several of the numerous gold zones on that property) said:  “The Tuck zone bears a striking resemblance to the gold bearing zones at Brucejack Lake, namely: strong sericite alteration, strong quartz stockwork, strong jarosite staining, anomalous arsenic with gold values, and abundant pyrite associated with the gold values.”    These statements are  based upon the work completed by Ed Kruchkowski, P. Geo., at Brucejack Lake from 1973 to 1978. The Company’s QP, D. Cremonese, P.Eng., has been unable to verify the information presented herein by Ed Kruchkowski, P. Geo. on the Brucejack property.   All of this information is not necessarily indicative of the mineralization on the Tuck property.

Prior to the start of the 2014 drilling, several prospecting traverses were run over the alteration zone.  One of these traverses had five grab samples ranging from 1.6 to 171 g/t silver and from 0.84 to 5.48 g/t gold, averaging 37.34 g/t silver and 2.28 g/t gold.

Sixteen, mostly shallow holes were drilled into the southern portion of the alteration zone.  Results ranged from 14.8m grading 0.27 g/t gold and 9.96 g/t silver to 8.50m grading 1.28 g/t gold and 16.0 g/t silver.   Highest sub-interval occurred close to the bottom of Hole T14-04 which ran 0.7m of 4.83 g/t gold and 28.0 g/t silver.

Photographs of some of the drill core can be seen here.

The holes tested a limited area in the southern portion of the Tuck quartz stockwork zone.  True widths are not known. Weather-related and logistical considerations precluded a test of the northern portion of zone (the photographs of altered Tuck zone rocks on this website are from the northern portion of the zone).  This northern area is to be drilled in the 2015 season after preparatory surface work including geological mapping, trenching and rock sampling, contingent upon raising the necessary financing.

Area Map

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Tuck Core Photos
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