NEWS RELEASE: December 16, 2020 – 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 containing results from the fifth set of holes drilled in the Goldstorm zone in 2020. The Goldstorm has been the subject of an intense drilling program in 2020 and lies within the Treaty Creek property, situated in the heart of the Golden Triangle of northwestern British Columbia and on-trend from Seabridge’s KSM Project located five kilometers to the southwest.
Results from 12 diamond drill holes were recently received from MSA Labs with final results from another 11 diamond drill holes pending. All 12 holes have successfully intersected the Goldstorm System, expanding and defining the mineralization along the northeast and southeast axes, as well as to depth. The Goldstorm System 300 Horizon has now been traced for 1100 meters along the northeast axis and, as well, the CS-600 and DS-5 zones have been expanded to the northeast and to depth. All 39 drill holes completed at Goldstorm during the 2020 program have encountered significant precious metal mineralization. The 2020 Treaty Creek Diamond Drill Program was completed last week, and field personnel have winterized the camp. The track-components of two track-mounted diamond drills remain on site ready for start-up of the 2021 exploration season.
Tudor Gold’s Vice President of Project Development, Ken Konkin, P.Geo., stated: “We are very pleased with the results obtained from all 39 drill holes completed this year to-date and we anticipate the release of the final 11 holes of the year within a few weeks. This brings the total to 50 drill holes that were completed this year at the Goldstorm Zone. These latest holes continued to expand the limits of the mineralized targets along the northeastern and the southeastern axes, and to depth. For a fifth consecutive press release, we have surpassed our best result from last years’ drill hole program (0.697 AuEq over 1081.5 meters in hole GS-19-47) with drill holes GS-20-83 and GS-20-94 as described in the headline. The final 11 drill holes represent over 9600 meters of drilling and we expect that MSA Labs will complete the analysis of these final samples as soon as possible.”
Treaty Creek Highlights include:
- Twelve drill holes presented in this press release total 11,551.1 meters
- The best results were from GS-20-94, a near-surface 354.0 meter intercept (36.0-390 m) averaging 1.215 gpt AuEq and GS-20-82 with a 351m intercept (113.0-464.0 m) averaging 1.051 gpt AuEq. Both holes are located on Section 111+00 NE.
- Equally impressive was drill hole GS-20-83 that also had a near-surface intercept over a similar 345.0 meters (73.5-418.5 m) that averaged 1.078 gpt AuEq on Section 112+50 NE.
- More Core Drilling did an excellent job completing 50 HQ/NQ2 diamond drill holes totaling 43,972 meters at Goldstorm and 1,636 meters at the Perfect Storm Target with three drill holes.
The following three tables below provide the complete list of composited drill hole results as well as the drill hole data including hole location, elevation, depth, dip and azimuth.
Table l: Results Goldstorm Zone Press Release December 15th 2020
|114+00 NE||GS-20-80||300H + CS600||222.50||1349.00||1126.50||0.369||1.66||653||0.486|
|and including CS600||831.50||1028.00||196.50||0.572||3.25||2703||1.011|
|115+50 NE||GS-20-81||300H + CS600 + DS5||558.40||1389.50||831.10||0.422||1.56||940||0.580|
|includ 300H + CS600||558.40||957.50||399.10||0.529||1.96||1712||0.807|
|and with CS600||704.00||957.50||253.50||0.481||2.37||2494||0.879|
|111+00 NE||GS-20-82||300H + CS600||113.00||1041.50||928.50||0.629||2.46||519||0.736|
|112+50 NE||GS-20-83||300H + CS600 + DS5||73.50||994.50||921.00||0.676||3.97||655||0.821|
|and including CS600||566.45||727.50||161.05||0.426||3.90||2863||0.898|
|and including DS5||813.00||994.50||181.50||0.919||7.33||190||1.035|
|111+00 NE||GS-20-90||300H + CS600||63.00||847.50||784.50||0.646||2.89||465||0.750|
|and including CS600||643.50||768.00||124.50||0.635||4.60||1632||0.932|
*lost drill hole in mineralization
- 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 intervals
- The following metal prices were used to calculate the Au Eq metal content: Gold $1322/oz, Ag: $15.91/oz, Cu: $2.86/lb. Calculations used the formula Au Eq g/t = (Au g/t) + (Ag g/t x 0.012) + (Cu% x 1.4835). 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 ll: Drill Data for Holes in Press Release December 15th, 2020
Attached are Sections 108+00 NE, 110+00 NE, 111+00 NE, 112+50 NE, 114+00 NE and 115+50 NE showing holes traces with histogram plots for gold and copper results and a Plan Map showing the drill hole and section locations.
Walter Storm, President and CEO of Tudor Gold, stated: “We are very pleased to announce the safe successful completion of our 2020 diamond drill hole program. We completed over four times the amount of drilling from the previous year’s program, greatly advancing Tudor’s flagship Treaty Creek Property. We completed almost 44,000 meters of drilling at the Goldstorm System and over 1,600 meters of drilling at the Perfect Storm target. Once we receive the final results from the last eleven drill holes, we will then pass the data to our resource engineers and geoscientists for an initial resource estimate. Continued drilling is required for 2021 to locate the limits or edges of the mineralized system. Due to the size and robust nature of the mineralization, the Goldstorm System remains open on all fronts and to depth. We are proud of what we have achieved in these last two years of exploration and in-particular, the great effort to withstand the harsh winter elements during November and December at Treaty Creek to bring the 2020 drill campaign to a safe close. Our commitment is to continue to advance the project as quickly as possible. We have left the track-drill carriage components for two track-mounted drill rigs on-site so our team can get an early start to the 2021 drill season. We look forward to receiving the final results of the eleven drill holes from MSA Labs within a couple of weeks to complete the 2020 exploration season on schedule.”
D. Cremonese, P. Eng., President of Teuton Resources Corp. commented as follows: “Let me give thanks to Walter Storm, Ken Konkin and Sean Pownall of More Core Drilling: they did a superb job this year at Treaty Creek. Drilling 44,000m beginning in May and finishing up in the cold winter winds of December—they doubled the length of the typical Stewart work season and showed it could be done efficiently and safely. They really advanced the project in 2020 and the property rewarded us all with excellent results.”
Tudor Gold Corp and its associated service companies report that they have taken extreme measures to maintain the highest professional standards while working within COVID-19 health and safety protocols.
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.
The Qualified Person for this news release for the purposes of National Instrument 43-101 is Tudor Gold’s Vice President Project Development, Ken Konkin, P.Geo. He has read and approved the scientific and technical information that forms the basis for the disclosure contained 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. Ten of these properties are currently under option to third parties. Over $2 million in option cash payments (not including appreciable payments made in shares) has been generated from these properties since 2015, including properties where optionees have already earned their interest.
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) as well as a 0.98% NSR in the claims covering the Goldstorm zone. A 0.49% NSR is owned in the peripheral claims. None of the NSRs are subject to a buy-back. Teuton also owns eight other royalties in the Sulphurets Hydrothermal System with interests ranging up to 2.5%, none of which are subject to a buyback. Interested parties can access information about Teuton at the Company’s website, www.teuton.com.
Figures Accompanying News Release
“Dino Cremonese, P.Eng.”
Dino Cremonese, P. Eng.,
President and Chief Executive Officer
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