Hole GS-20-92 Intersects 3.286 gpt AuEq Over 82.5 Meters Within 531.0 Meters of 0.999 gpt AuEq; And Hole GS-20-91 in the 300 Horizon of the Goldstorm Zone Intersects 1.112 gpt AuEq Over 532.5 Meters Within 1,033.5 Meters of 0.856 gpt AuEq
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 last 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 and Snowfield Projects located five kilometers to the southwest.
Results from sampling of 9,621.7 meters of HQ and NQ2 core, from 11 diamond drill holes, have recently been received from MSA Labs. Tudor Gold has completed 50 diamond drill holes at the Goldstorm System (GS) and three diamond drill holes at the Perfect Storm Zone (PSZ), for respective totals of approximately 44,000 meters (GS) and 1,600 meters (PSZ) during the 2020 exploration season. It was necessary to abandon two of the final drill holes as ground conditions prevented the safe completion of GS-20-99 and GS-20-101 late in the season, however, significant gold and silver mineralization was encountered in GS-20-99 (0.647 gpt AuEq over 109.5 meters) and this hole ended in strong stockwork within the DS5 System. Unfortunately drill hole GS-20-101 was abandoned before intersecting the area of the intended target and this hole will be re-drilled in 2021. From the remaining 51 drill holes, all but one were successful in intersecting the intended targets.
Tudor Gold’s Vice President of Project Development, Ken Konkin, P.Geo., states: “We are very pleased with the results obtained from our 2020 exploration program and we anticipate the completion of an initial resource estimate over the next few months. We are also determined to continue the exploration efforts in 2021 to better define and potentially expand the Goldstorm and Perfect Storm Systems. It was not possible to attempt drilling at some of our high priority exploration targets due to the rapid accumulation of snow in late November and December that caused avalanche hazards, therefore, these sites remain as excellent drill targets. We have since received our explosives permit and have purchased an explosives magazine so our avalanche teams can now safely remove snow build-up for the up-coming exploration season. Our goal is to again have a late spring start-up so that we can effectively prepare the slopes to allow drilling in the northeast area of the Goldstorm System that was not completed in 2020. The Au-Ag-Cu mineralization remains open to the northeast and to the southeast, with the possible exception of section 114+00 NE, where the easternmost drill hole (GS-20-102) may have defined the southeast limit in that area.”
Goldstorm Highlights include:
- Eleven diamond drill holes in this release totalling 9,621.7 meters; the favorable composite results are listed in Table 1 below.
- Best near-surface intercept was from the 300 Horizon in GS-20-91 on Section 112+50 NE that averaged 0.856 gpt AuEq over 1033.5 meters (60.0-1093.5 m) containing an enriched portion of 532.5 meters (60.0-592.5 m) that averaged 1.112 gpt AuEq.
- GS-20-92 also had a remarkable 82.5 meter intercept (213.0-295.5 m) of 3.286 gpt AuEq within the 300 Horizon, which is the highest grade gold composite interval drilled to date on the project. This lies within a longer intercept of 531.0 meters (90.0-621.0 m) averaging 0.999 gpt AuEq
- An aggressive 150 meter step-out drill hole (GS-20-99) extended the DS-5 Zone further to southeast on section 115+50 NE. The intercept averaged 0.647 gpt AuEq over 109.5 meters (855.5-965.0 m). The hole was lost at 965.0 meters in strong stockwork and DS5-type mineralization. The system remains open to the northeast and southeast along Section 115+50 NE.
The following two 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.
|GS-20-102||No Significant Values|
|117+00 NE||GS-20-101*||lost hole||re-drill||in 2021|
Gold equivalent composite values from eleven Goldstorm Zone drill holes
- 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 for Press Release January 7th, 2021
|Section||Hole ID||UTM E NAD83||UTM N NAD83||Elevation (m)||Azi (’)||Dip (°)||Depth (m)|
Attached are Sections 108+00 NE, 109+00 NE, 112+50 NE, 114+00 NE and 115+50 NE showing holes traces with gold and copper histogram results and a Plan Map showing the drill hole and section locations.
Walter Storm, President and CEO OF Tudor Gold, stated: “Our goal for Tudor Gold is to fast-track the exploration of our flagship Treaty Creek Project. We continue to advance the project on several fronts including completing our initial metallurgical work on the Goldstorm System, for which an update will be issued later this month. In addition, we recently completed the first year of an on-going water sampling program and purchased a climate station that will monitor on-site environmental conditions, providing the data required for base-line studies. Furthermore, we are preparing a winter access plan to start the 2021 exploration season as soon as the major snowfall season comes to an end in the coming spring. This approach worked extremely well for our start-up team that was able to walk-in heavy equipment on the snowpack in 2020, allowing us to start drilling much earlier than previous years. In so doing, we hit a corporate-best for drilling this past year with the completion of 53 drill holes totalling over 45,600 meters. We thank our team of men and women who worked safely and diligently during these extremely difficult conditions.”
Tudor Gold Corp and its associated service companies have taken extreme measures to maintain the highest professional standards while working within COVID-19 health and safety protocols. Only essential personnel are permitted to enter the camp and staging areas. Of those who are at the project site and staging site, Tudor has implemented strict daily monitoring of the workers’ temperatures and general health conditions. Tudor also has a certified paramedic at the staging area to examine all in-coming and out-going Tudor personnel and all service providers.
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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