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 sixth set of results from the 2021 resource expansion and definition drilling program at the Treaty Creek property north of Stewart, BC. 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.
Included in this press release are the results of four diamond drill holes that were completed at the Goldstorm Deposit along two sections (112+00 NE and 115+00 NE), 300 metres apart. These results demonstrate the excellent continuity of precious and base-metal mineralization that has been measured throughout the Goldstorm deposit and provides increased drill hole density for future resource determinations. The Copper Belle-Goldstorm Deposit (CB-GS) currently hosts a *NI 43-101 compliant Measured and Indicated Mineral Resource of 19.4 million ounces of AuEq grading 0.74 g/t AuEq and an Inferred Resource of 7.9 million ounces of AuEq grading 0.79 g/t AuEq (see Teuton Resources press release dated March 9, 2021).
Goldstorm Drilling Highlights Include:
SECTION 115+00 NE
- GS-21-122 provided closer hole spacing between previous intercepts of the deep, northwest extension of the CS600 domain. The hole averaged 0.65 g/t AuEq over 1,035.0m, which included both the 300H and CS600 domains.
- GS-21-122 encountered consistent gold and copper mineralization within the CS600 domain that returned 1.22 g/t AuEq (0.65 g/t Au and 0.45 % Cu) over 355.15m, including an enriched portion that averaged 1.45 g/t AuEq (0.79 g/t Au and 0.53 % Cu) over 247.5m.
- GS-21-122 ended at 1375m in gold mineralization, which may have been the start of the DS5 domain. The drill had reached its’ maximum depth capacity.
- GS-21-126, stepping out to the southeast, was stopped before the target due to drilling issues. This hole will be re-drilled in 2022.
SECTION 112+00 NE
- GS-21-123 was designed to provide infill resource definition for the center of the CS600 domain. Unfortunately, this hole was not completed to the target depth and ended in mineralization. A portion of the CS600 domain was intersected, which averaged 1.22 g/t AuEq (0.61 g/t Au and 0.45 % Cu) over 38.8m at the end of the hole.
- The upper portion of GS-21-123 intersected consistent gold mineralization within the 300H domain with 0.90 g/t AuEq over 201.0m that contained an enriched zone that graded 1.31 g/t AuEq over 49.9m near the center of 300H domain.
- GS-21-124 cut an intercept of the 300H domain that infilled and defined the deposit to the northwest just beneath the TTF1 thrust fault. This hole ran 0.75 g/t AuEq over 1,089.0m.
- A Near-surface, enriched section of 300H was encountered in GS-21-124, grading 1.50 g/t AuEq over 126.0m, within a 476.1 m interval that averaged 1.09 g/t AuEq.
Tudor Gold’s Vice President of Exploration and Project Development, Ken Konkin, P.Geo., stated: “We are pleased to report that the resource definition-drilling of the Goldstorm Deposit was a great success. In addition to expanding the limits of the precious and base-metal mineralization to the northwest, north and northeast, we were able to infill gaps in the resource model with carefully placed drill holes that were designed to add gold-equivalent ounces to the measured and drill indicated categories. In addition, these results demonstrate the strong consistency of the gold-copper mineralization between holes GS-21-122 and GS-21-124 that are approximately 500 meters apart; the overall results are very comparable: GS-21-122 averaged 0.65 g/t AuEq over 1,035 meters while GS-21-124 averaged 0.75 g/t AuEq over 1,089 meters. We expect to complete the final sections for the last four drill holes and combine this with our final surface sampling results for our next press release.”
The complete list of these reported composited drilling results for Goldstorm, 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 refer to the URL located at the end of this release to view a Plan Map and Cross Sections for the drilling results and surface samples reported in this news release.
Table 1: Drilling Results Goldstorm in Press Release December 15, 2021
|Section||Hole||From (m)||To (m)||Interval (m)||Au (g/t)||Ag (g/t)||Cu (ppm)||AuEQ (g/t)|
|And including (CS600)||872.85||1228.00||355.15||0.65||3.69||4453||1.22|
|Hole ended prior to reaching target mineralization; no significant values (NSV).Hole ended in mineralization, shut down before reaching target depth due weather conditions.Hole ended in mineralization, shut down due to drilling issues.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 December 15, 2021
|Section||Hole ID||UTM E NAD 83||UTM N NAD 83||Elevation (m)||Azi (ᵒ)||Dip (ᵒ)||Depth (m)|
The Qualified Person for this news release for the purposes of National Insturment 43-101 is Tudor Gold’s Vice President of Exploration and 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. Mr. Konkin is also a director of Teuton Resources.
Diamond 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 Treaty Creek Project is a Joint Venture with Tudor Gold owning 60% and acting as operator. Teuton Resources and American Creek each have a 20% interest in the project. Teuton and American Creek are both fully carried until such time as a Production Notice is issued, at which time they are required to contribute their respective 20% share of development costs. Until such time, Tudor is required to fund all exploration and development costs while both Teuton and American Creek have “free rides”.
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) and a 0.98% NSR in the Goldstorm deposit area. Interested parties can access information about Teuton at the Company’s website, www.teuton.com.
Figures & Videos Accompanying News Release
Please click link to view Plan Map and Cross-Sections: http://teuton.com/GS-PVSections1221 .
On Behalf of the Board of Directors of Teuton Resources:
“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.
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