Highlights from 2022 Exploration on Teuton’s Properties in the Golden Triangle:
- Treaty Creek Property — Hole GS-21-113-W2 extended into potassic altered zone. Extension to depth runs 2.48 g/t AuEq over 168 m (gold – 1.41 g/t Au, copper – 0.82%). Overall composite of zone ran 1,497.5 m of 1.12 g/t AuEq.
- Harry Property — Optionee Optimum Ventures carries out IP surveys, prospecting and sampling on Teuton’s Harry property, in preparation for drilling.
- Big Gold, Eskay Rift, Pearson and Tennyson properties — Teuton ground-truths major ZTEM airborne anomalies.
Vancouver, Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TFE”- Frankfurt) has received the fourth set of drill results from its Joint Venture Partner, Tudor Gold, concerning Phase l of the 2022 exploration program at the Treaty Creek property. The property is located in the heart of the Golden Triangle of northwestern British Columbia, adjoining and on geological trend with Seabridge Gold’s KSM property and Newcrest Mining’s Brucejack property.
Ken Konkin, President and CEO of Tudor Gold, commented as follows: “During the 2021 drill program, we drilled hole GS-21-113-W2 to the maximum depth possible and noted that the strongest sulphide mineralization occurred at the bottom of this hole. A decision was made to leave the casing and HQ rods in GS-21-113-W2 with the plan of returning to re-enter the hole this year with a more powerful diamond drill rig and we succeeded! The hole was extended 280.1 meters (m) demonstrating that gold and copper grades increase with depth as the strongest mineralization occurs between 1520 m and 1688 m. This portion of the holeaverages 2.48 g/t AuEq over 168 m with copper averaging 0.82 %. Silver mineralization is also becoming stronger at depth within the CS600 domain. In addition, results from targeting the DS5 domain were also successful with drill hole GS-22-139 which intersected 438 m of 1.07 g/t AuEq and included an enriched upper portion that averaged 1.36 g/t AuEQ over 172.4 m. As previously reported, high-grade visible native gold has occurred from two of three aggressive step-out holes that were 225-meter and 500-meter step-out holes from the 2021 drilling program within the northeastern sector of the Goldstorm Deposit. These high-grade gold results may add a new dimension to the exploration potential of this project and we will continue to advance and explore this rapidly expanding aspect of these well mineralized domains.”
The Program at the Treaty Creek property includes an aggressive resource expansion and delineation plan for several areas, including the Goldstorm Deposit and the Eureka and Calm Before the Storm Zones. Results included in this press release are reported from six diamond drill holes that were drilled on the Goldstorm Deposit from sections C and D. Five out of six holes were targeted outside the 2021 Mineral Resource Estimate area (see the end of the release for a link to a plan map and various section maps).
- GS-21-113-W2, a 2021 drill hole (see November 30, 2021 press release), was re-entered and extended by 280.1 m to a total depth of 1855.1 m. The composited interval that includes 300H and CS600 domains, that was calculated in 2021, has been expanded from 1320.0 m of 0.97 g/t AuEQ to 1497.5 m grading 1.12 g/t AuEq. The CS600 domain intercept was expanded from 556.5 m of 1.38 g/t AuEq to 732.0 m grading 1.60 g/t AuEq. The high-grade bottom segment of CS600 originally reported 57.0 m grading 2.34 g/t AuEq which has now been extended to 168.0 m of 2.48 g/t AuEq (1.41 g/t Au, 0.82 % Cu); visible gold was noted in one core sample. The drill hole successfully exited the lower boundary of the CS600, however, a downdip boundary (northwest boundary) of the orebody has not been identified and the CS600 currently remains open at depth where gold and copper grades are the highest. Increasing grades at depth are closely correlated with increasing potassic alteration as drilling information vectors towards the magmatic source of this extensive porphyry system.
- GS-22-143 stepped out 225 m to the northeast from the 2021 drilling and targeted 300H and CS600 mineralization. In addition to the high-grade interval of 39.15 g/t AuEq over 2.0 m that was previously reported (see July 26, 2022 press release) a 102.25 m interval grading 0.98 g/t AuEq in the CS600 area was intercepted which included a 1.5 m interval of 14.7 g/t AuEq. The hole skimmed the upper boundary of the CS600, however, deviation did not allow the hole to get into the core of the porphyry where higher grades have been measured. The hole was stopped short of the target due to pad conditions. Assays for this hole are fully reported in this press release.
- GS-22-139 targeted the DS5 domain and returned 438.0 m grading 1.07 g/t AuEq. Within this, two high-grade intervals consisted of 28.4 m grading 1.95 g/t AuEq and 24.0 m grading 2.05 g/t AuEq.This hole is located 250 m to the northeast from the 2021 drill holes.
Table 1: Drilling Results for Goldstorm Deposit
|Section||Hole||From (m)||To (m)||Interval (m)||Au (g/t)||Ag (g/t)||Cu (ppm)||AuEq (g/t)|
|C||GS-21-113-W2(1) (300H + CS600)||255.00||1752.50||1497.50||0.76||3.70||2685||1.12|
|And including (300H)||590.00||659.00||69.00||1.80||3.61||78||1.85|
|And including (CS600)||1019.00||1751.00||732.00||0.91||5.65||5314||1.60|
|n/a||GS-22-140(2)||Hole was lost and abandoned, no significant values, plan to re-drill target|
|n/a||GS-22-141(3)||Hole was lost and abandoned, no significant values, plan to re-drill target|
|C||GS-22-142(3)||Hole was lost and abandoned, no significant values, plan to re-drill target|
|Hole GS-21-113-W2 was drilled to 1575.0 m in 2021 and was extended by 280.1 m to a depth of 1855.1 m in 2022. Composites include the parent hole assays (GS-21-113) to the depth of the wedge (292.5 m).Hole GS-22-140 stopped short of intended target depth and was not sampled.Hole GS-22-141 and GS-22-142 stopped short of intended target depth and reported no significant values.Hole GS-22-143 was reported to 985.5 m in the July 26, 2022 press release. Results are fully reported in the current press release. 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 $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
|Section||Hole ID||UTM E NAD 83||UTM N NAD 83||Elevation (m)||Azi (ᵒ)||Dip (ᵒ)||Depth (m)|
The Qualified Person for the Treaty Creek technical information in this news release is Tudor Gold’s President and CEO, Ken Konkin, P.Geo. Mr. Konkin is also a director of Teuton Resources and as such is not independent of the Company. He has read and approved the scientific and technical information in regard to the Treaty Creek property that forms the basis for the disclosure contained in this news release.
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.
About the Treaty Creek Property
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 (Tudor Gold is responsible for paying all exploration costs up until such time as a production decision is made) and a 0.98% NSR in the Goldstorm deposit area. It also owns numerous additional royalty interests within the Sulphurests Hydrothermal system on properties such as the King Tut, Tuck, High North, Orion, Delta and Fairweather properties. Interested parties can access information about Teuton at the Company’s website, www.teuton.com.
OPTIMUM VENTURES COMMENCES EXPLORATION ON TEUTON’S HARRY PROPERTY
An IP survey is being conducted over target areas on the Harry property by Simcoe Geoscience. Extensive prospecting and sampling are also taking place.
The Harry property was optioned by Teuton to Optimum Ventures in 2021. Tyler Ross, President of Optimum Ventures, commented: “We are excited to get back to work on the Harry project, unlocking the potential value for our shareholders. The priority of this Exploration program is to prepare for the forthcoming drilling to test both the Swan and Milestone zones as well as to collect more data on multiple structures throughout the numerous sericite-pyrite alteration zones. Drilling will focus on extending the strike and dip of the Swan zone.”
To date 400 samples have been sent to MSA Labs in Terrace, B.C.
About the Harry Property
The property is nearby infrastructure including year-round road access, a powerline, and an ice-free port in Stewart. In addition, a mill is being constructed by Ascot Resources at the site of the historical Premier Mine, located a few kilometers south of the Harry.
The Harry hosts several 500 metre (“m”) wide zones of intense alteration that trend NW along the claim length. Within this intense alteration, sericite along with abundant pyrite is prevalent. Quartz veins, quartz breccias and semi-massive sulphides occur within these alteration zones. This type of alteration and mineralization is also found at the nearby gold deposits being developed by Ascot Resources..
In 2020, a new zone of mineralization in quartz breccias associated with fine arsenopyrite (“Milestone”) was discovered on the Harry property averaging 7.86 oz/ton Au (269.5 g/t) across a 2 m width. The full width of this new zone has not been defined due to overburden cover (see the 43-101 report at: Sedar.com under Optimum Ventures).
In 2021, 22 samples were collected from a boulder train near the new Swan discovery which ranged in value from 0.76 to 286.2 g/t Au, 246 to 2202 g/t Ag, 21.5 to 57.33 % Pb, 0.07 to 2.87 % Cu and 0.41 to 32.11 % Zn. Two holes drilled into the Swan that year reported the following assays:
|Drill Hole #||From (m)||To (m)||Interval (m)*||Cu (%)||Pb (%)||Zn (%)||Au (g/t)||Ag (g/t)|
* Stated lengths in meters are downhole core lengths and not true widths.
Option terms allow Optimum to earn up to an 80% interest by carrying out $9 million of work over five years. Optimum must also pay Teuton $1.5 million in cash and issue 4,000,000 shares to Teuton over the option period. Teuton retains a 2.0% Net Smelter Royalty and a 20% interest after the option is exercised.
TEUTON GROUND-TRUTHS VARIOUS GEOPHYSICAL ANOMALIES
Surface sampling and prospecting began in early July in the vicinity of several large, ZTEM anomalies detected during a 2018 airborne survey found on the Big Gold, Eskay Rift, Pearson and Tennyson properties (all four properties are 100%-owned). A lingering snow apron at high altitude has limited the area available for investigation.
This work is expected to continue into September. The Company hopes that it can gather enough information this year to make a decision to drill the best targets uncovered.
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. This model minimizes share equity dilution while at the same time maximizing opportunity. Earnings provided from option payments, received both in cash and in shares of the optionee companies, has provided Teuton with substantial income.
URL for various maps:
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
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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