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 in the heart of the Golden Triangle of northwestern British Columbia and is on-trend from Seabridge’s KSM Project located five kilometers southwest of the Goldstorm Deposit. Results from seven diamond drill holes have recently been received from MSA Labs and are reported herein. Exploration at Treaty Creek is ongoing at Goldstorm, Perfect Storm and the Eureka zones with the recent arrival of the fifth and sixth drill rigs. Drilling has commenced at the Perfect Storm Zone with the fifth drill rig and the sixth drill rig has just arrived at the Eureka Zone awaiting the arrival of its drill crew.
Tudor Gold’s Vice President of Exploration and Project Development, Ken Konkin, P.Geo., states: “The 2021 drilling program at Treaty Creek has progressed very well with peripheral drilling at Goldstorm. We are consistently encountering strong sulphide mineralization along the limits of the three identified mineral resource domains, namely the 300 Horizon, CS-600 and DS-5 Zones. The Goldstorm Deposit remains open to expansion in all directions and at depth. In addition to potentially adding new gold equivalent (AuEq) ounces to the mineral resource, we will attempt to convert as much of the 7.9 million AuEq ounces of Inferred Resources to the Measured and Indicated Resource categories that currently total 19.41 million ounces of AuEq. Concurrent with the definition and exploration drilling on the Goldstorm Deposit, one drill will continue with 300-meter (m) step-out holes at Perfect Storm and one drill will test the central area of the Eureka Zone. Exploration crews will also be working on new areas within the project area in order to define new drill targets.”
Treaty Creek, Goldstorm Drilling Highlights include:
- Very consistent, near-surface 300 Horizon intercepts such as GS-21-103 that intersected 801.0 meters of 0.704 g/t AuEq including a strong upper pulse of enrichment averaging 2.025 g/t AuEq over 75.0 meters or 168.0 meters of 1.391 AuEq.
- An impressive 474.0 m intercept of DS-5 in hole GS-21-110 that averages 1.039 g/t AuEQ including 216.0 meters of 1.712 g/t AuEq or 130.5 meters of 2.389 g/t AuEq.
- All drill holes hit significant gold mineralization (GS-21-107 was lost before encountering the DS-5 Zone and that hole will be re-drilled).
- Goldstorm Deposit remains open in all directions and at depth as drilling continues.
The complete list of composited drill hole results as well as the drill hole data including hole location, elevation, depth, dip and azimuth are provided in Table 1 and Table 2, respectively. [Please see URL at the end of this Release for a Plan Map and Cross Sections for holes GS-21-103 to GS-21-110.]
Table l: Results Goldstorm Zone Press Release August 4th, 2021
|Section||Hole||Zone||From(m)||To(m)||Interval (m)||Au(g/t)||Ag(g/t)||Cu ppm||AuEQ (g/t)|
|* Lost drill hole prior to intersecting DS-5, will re-drill this hole.All assay values are uncut and intervals reflect drilled intercept lengths.HQ and NQ2 diameter core samples were sawn in half and typically sampled at standard 1.5m intervalsThe following metal prices were used to calculate the Au Eq metal content: Gold $1625/oz, Ag: $19/oz, Cu: $2.8/lb. Calculations used the formula Au Eq g/t = (Au g/t) + (Ag g/t x 0.01169) + (Cu% x 1.1815). All metals are reported in USD and calculations do not consider metal recoveries.True widths have not been determined as the mineralized body remains open in all directions. Further drilling is required to determine the mineralized body orientation and true widths.|
Table 2: Drill data for holes in Press Release August 4th, 2021
|Section||Hole ID||UTM E NAD 83||UTM N NAD 83||Elevation (m)||Azi (ᵒ)||Dip (ᵒ)||Depth (m)|
|* Lost drill hole prior to intersecting DS-5, will re-drill this hole.|
Walter Storm, President and CEO of Tudor Gold, stated: “I am very pleased with the exceptional progress our exploration team has made with these initial results from the resource definition and exploration drilling program. Continued drilling will broaden our understanding of the 300, CS-600 and DS-5 domains and hopefully will further increase the size and quality of the Goldstorm Deposit beyond our expectations. Despite having an exceptionally high snowpack this year, minor delays were encountered as crews patiently and safely removed unexpected amounts of snow accumulation. The safety of our crews and of our contractors is our highest priority. In addition to the exploration program, our base-line studies are also proceeding as planned with the installation of a climate monitoring station and on-going environmental studies. We look forward to providing new drilling updates throughout this year’s work program.”
Dino Cremonese, President and CEO of Teuton commented: “These results are a very good—a great start to the 2021 field season at Treaty Creek.”
The Qualified Person for this news release for the purposes of National Instrument 43-101 is Tudor Gold’s Vice President of Exploration and Project Development, Ken Konkin, P.Geo. (he is also a Director of Teuton Resources Corp. ) He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.
Drill core samples were prepared at MSA Labs’ Preparation Laboratory in Terrace, BC and assayed at MSA Labs’ Geochemical Laboratory in Langley, BC. Analytical accuracy and precision are monitored by the submission of blanks, certified standards and duplicate samples inserted at regular intervals into the sample stream by Tudor Gold personnel. MSA Laboratories quality system complies with the requirements for the International Standards ISO 17025 and ISO 9001. MSA Labs is independent of the Company.
Teuton owns interests in more than thirty properties in the prolific “Golden Triangle” area of northwest British Columbia and was one of the first companies to adopt what has since become known as the “prospect generator” model. Teuton earned $3.9 million net income in 2020 and a further $2.4 million in the first quarter of 2021. Its income is derived from option payments.
Teuton was the original staker of the Treaty Creek property, host to the large Goldstorm deposit, assembling the core land position in 1985. It presently holds a 20% carried interest in Treaty Creek (carried until such time as a production decision is made). Interested parties can access information about Teuton at the Company’s website, www.teuton.com.
Figures & Videos Accompanying News Release
Please click on the following link to view maps: http://teuton.com/GoldstormAug2021
Click to view Treaty Creek video: https://www.youtube.com/watch?v=oAJbY43aZXg
“Dino Cremonese, P.Eng.”
Dino Cremonese, P. Eng.,
President and Chief Executive Officer
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Director Corporate Development and Communications
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