Vancouver, Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TFE”- Frankfurt) is pleased to report that the Eskay Rift property was permitted for drilling in June, 2021. It lies just to the south of the Sulphurets Hydrothermal System as shown in the attached map entitled “Elephants of the Sulphurets Hydrothermal System” (see URL at the end of the news release).
In 2018, Teuton commissioned a Geotech ZTEM survey over a large area, the eastern part of which included the Eskay Rift property. Geotech, in a report summarizing its findings said the following: “The 3D ZTEM inversion results reveal the presence of numerous conductive anomalous features characterized by lower resistivity values by contrast to the host rocks. Most of these conductors are linear in shape and are striking in various directions. Among them, a number are selected for copper-gold targeting purposes and these are labelled with the letter “Z”.
The key criteria for copper-gold target selection within these properties are summarized in the following points:
- Association with zones of resistivity low; this is typical to porphyry-style mineralization and related alteration zones. The resistivity low may also be indicative of intense phyllic/argillic/propylitic/pyritic alteration zones;
- Structurally controlled by fault and shear zones;
- Association with magnetic lows in case of the presence of magnetite-destructive alteration typical to porphyry mineralization types;
- Association with deep-seated fault zones that may serve as conduits for mineralized hydrothermal fluids;
- Association with resistive features surrounded by conductive zone;
- Occurring within areas of structural complexity.”
Geotech’s first Priority-1 Target called the “Z1” has been selected for drilling by Teuton Resources in 2021. The Z1 target strikes northeast over a distance of ∼1.5 km and has an estimated resistivity of < 20 ohm-m at a depth of 500m. The most intense portion of the anomaly covers a vertical distance of 750m and it dips to the northwest from near surface along a slope of over 2km. Geotech states: “It occurs within a zone of complex structural pattern and represents probably a link to [an] intense alteration zone that may host Cu-Au mineralization”. [ZTEM™ Inversion Results SUMMARY OF INVERSION PROCEDURE AND INTERPRETATION RESULTS Z-AXIS TIPPER ELECTROMAGNETIC (ZTEM™) AND AEROMAGNETIC GEOPHYSICAL SURVEY January 2019 — Geotech
Teuton has already signed a drill contract and is ready to mobilize as soon as weather conditions permit. Other targets on the property such as the Z2 and Z3 may also be drilled if time and weather logistics warrant. The Z3 extends for over 3km and consists of a conductive mag high which could represent massive sulphide or BIF [banded iron formation] mineralization according to the Geotech report.
Dino Cremonese, P. Eng. Is the Qualified Person for Teuton Resources; as President and CEO he is not independent of the Company. He has reviewed and approved the scientific and technical disclosure in this news release.
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 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.
URL for map: http://teuton.com/ElephantsoftheSHS
“Dino Cremonese, P.Eng.”
Dino Cremonese, P. Eng.,
President and Chief Executive Officer
For further information, please visit the Company’s website at www.teuton.com or contact:
Director Corporate Development and Communications
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Cautionary Statements regarding Forward-Looking information
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially.
All statements relating to future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.