October 31, 2018, Vancouver, BC: Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TUC”- Frankfurt) is pleased to to pass along a report from JV partner Tudor Gold’s exploration at the Treaty Creek property located adjacent to Seabridge Gold’s KSM property in the Golden Triangle region of northwestern British Columbia. The deep drilling program is now finished for the season and additional results of core sampling have been received for the nine hole 2018 program. Four holes are reported herein, supplementing the first two holes previously reported on August 27, 2018. The final three holes will be reported when assays are complete.
Walter Storm, President and CEO of Tudor Gold, stated: “As the assay results come in from our deep drilling program at Copper Belle, the gold mineralized zone is really taking shape. We are seeing thick intervals of good gold grades in our northernmost hole reported to date. This indicates to us that the strong Copper Belle mineralization may continue to the north-northeast of our current drilling.”
Holes CB-18-34 and 37B were drilled to the northwest at angles of approximately 75 degrees into the central part of a strong magnetic high (see map below) and returned broad intervals of gold mineralization. Holes CB-18-33B and 35B, located approximately 150 m farther to the west, were also drilled northwesterly; however, the gold values were lower in these two holes. The objective of the 2018 drill program was to better define the extent of the Copper Belle zone and the results from these holes have accomplished that. Excellent gold intercepts from our northernmost hole reported to date and moderately strong magnetic intensity extending north-northeasterly from the north end of the drill grid, indicate that the zone has good potential to continue in that direction.
Gold, silver and copper results for holes CB-18-33B, CB-18-34, CB-18-35B and CB-18-37B , as well as hole 37, which was lost at 131.2 m, but re-drilled as 37B, are summarized in the table below.
CB-18-34 had two wide intervals of gold mineralization; 0.554 g/t Au over 178.5 m, which included 0.830 g/t Au over 75.0 m and a lower zone of 0.344 g/t Au over 94.5 m. The gold mineralized intervals are primarily hosted by andesitic tuff and fragmental rocks that are moderately silicified, chlorite and sericite altered, and cut by abundant fine quartz-carbonate veins. Pyrite content averages about 10%, occurring as disseminations and local coarse masses in the host rocks, as well as within some of the quartz-carbonate veins, with rare chalcopyrite and arsenopyrite.
CB-18-37B also intersected two zones of mineralization over impressive widths; the upper zone averaged 0.772 g/t gold over 43.5 meters and the lower zone returned 0.486 g/t Au over 482.0 m, which included intervals of stronger alteration and mineralization, such as 0.790 g/t gold over 175.5 meters. The host rocks are similar to those in hole CB-18-34 and higher gold grades are associated with increased silicification, potassic alteration and pyrite content.
|Hole ID||From (m)||To (m)||Interval (m)||Au (g/t)||Ag (g/t)||Cu (%)|
|CB-18-35B||No significant results|
|EOH 131.2||Hole was lost and restarted as 37B|
* All assay values are uncut and intervals reflect drilled intercept lengths.
* True widths of the mineralization have not been determined.
The nine holes drilled in 2018 covered an area measuring approximately 370 meters by 250 meters, to depths of 600 to 900 meters. Based on the wide gold intervals received to date, the results are expected to considerably increase the range of potential ounces of gold from the 1.8 to 1.9 million ounces contained within 50 to 45 million tonnes grading 1.12 to 1.35 g/t Au determined from the drill results prior to 2018. A new range of gold ounces and grades will be determined, incorporating all drill results to the end of 2018 drilling, once the final assays are received and compiled. The 2018 drilling has now extended the known length of the porphyry-style mineralized system for over 1100 meters. For locations of the 2018 and other holes in the Copper Belle area that are overlain on Total Magnetics contours, please view the map below. The Copper Belle zone has an elongate north-northeast trend, dipping at a relatively flat angle to the northwest. Mineralization may be related to an extensive north-northeast trending tectonic zone, similar to the distribution of the four KSM deposits on Seabridge’s property that are located along a ten kilometer length of the Sulphurets Thrust Fault zone.
Copper Belle Drill Hole Locations on Total Magnetic Intensity
(“Warmer” Colours Indicate Higher Magnetic Intensity)
Teuton owns a 20% carried interest in the Treaty Creek property. American Creek Resources also owns a 20% carried interest and Tudor Gold, the operator, owns a 60% interest and is responsible for all costs up to the time of a production decision.
QAQC —Drill core samples were prepared at ALS Global’s Preparation Laboratory in Terrace, BC and assayed at ALS Global’s Geochemical Laboratory in North Vancouver, 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. ALS Global Laboratories quality system complies with the requirements for the International Standards ISO 17025: 2005.
QP–The Qualified Person for the analytical information in this new release is Tudor Gold geologist, James A. McCrea, P.Geo. for the purposes of National Instrument 43-101. The Qualified Person for this news release is Dino Cremonese, P.Eng., who as President of Teuton is not independent of the Company. Mr. Cremonese has not verified the accuracy of the technical data but believes that it is reliable.
Teuton owns interests in more than thirty properties in the prolific “Golden Triangle” area of northwestern British Columbia and was one of the first companies to adopt what has since become known as the “prospect generator” model. Eleven of its properties are currently under option and cash proceeds from these options are just under $2 million since 2015, not including the value of shares received from the optioning companies. Shareholders and other interested parties can access information about Teuton at the Company’s website, www.teuton.com.
“Dino Cremonese, P.Eng.”
President, Teuton Resources Corp.
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