Vancouver, Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TFE”- Frankfurt) has received the following review of the 2021 and 2022 drill programs (the “Programs”) completed at its Treaty Creek gold-copper project (the “Property”) by Joint Venture partner, Tudor Gold. 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.
The objective of the drill programs in 2021 (totalling 30,108 meters (m) over 30 drill holes) and 2022 (totalling 42,318 m over 55 drill holes) at Treaty Creek was to complete an aggressive resource expansion and delineation plan on the Goldstorm Deposit. In addition, reconnaissance drilling was conducted and resulted in several discoveries at the Perfectstorm (PS), Eureka (EZ) and Calm Before the Storm (CBS) zones. Despite drilling over 70,000 m at Treaty Creek since the initial mineral resource estimate, the Goldstorm Deposit remains open to the south, north, northeast and at depth. (See below at the end of the release to review a table of previously reported drill intercepts from the Programs. Click the following link to view: http://teuton.com/TCdrillinghiglights.
Highlights of the 2021 and 2022 drill programs include:
- Excellent results from infill and step-out drilling, which consistently encountered stronger than expected gold, copper and silver mineralization outside the previously defined resource area of the Goldstorm Deposit to depth and along the northeastern axis by at least 500 m to the north and northeast. Drill holes in this area were observed to intercept higher grades than those derived from the 2021 Initial Mineral Resource Estimate;
- Extended hole GS-21-113-W2 by 280.1 m, which intercepted higher gold and copper grades at depth within the northern step-out area of the Goldstorm Deposit. This hole returned an intercept of 1,497.5 m of 1.12 g/t AuEq (0.76 g/t Au, 3.70 g/t Ag, 0.27 % Cu) with the strongest mineralization occurring between 1520 m and 1688 m down hole, averaging 2.48 g/t AuEq (1.41 g/t Au, 9.07 g/t Ag, 0.82 % Cu) over 168 m;
- Drilled a number of new high-grade intercepts bearing visible gold mineralization within and outside the boundaries of the Goldstorm Deposit, most notably hole GS-22-134, which returned 20.86 g/t AuEq (20.61 g/t Au, 1.50 g/t Ag, 0.20 % Cu) over 4.5 m within a 25.5 m zone of 9.96 AuEq (9.66 g/t Au, 1.23 g/t Ag, 0.24 % Cu), and displayed 17 occurrences of visible gold within quartz-pyrite stockwork veins;
- Encountered stronger than expected copper grades within the CS600 domain of the Goldstorm Deposit, most notably hole GS-22-159 which returned an intercept of 1.71 g/t AuEq (0.92 g/t Au, 6.10 g/t Ag and 0.61 % Cu) over 180 m. This drill hole ended in strong copper mineralization centred on a much larger composite of 489.0 m averaging 1.12 g/t AuEq (0.66 g/t Au, 3.60 g/t Ag, 0.36 % Cu);
- Confirmed the discovery of a new mineralized zone known as Route 66 located in the southern portion of the Goldstorm Deposit. This new higher-grade gold zone was initially intercepted in 2020 by hole GS-20-66 and was followed up in 2022 by hole GS-22-135; a 100 m step-out hole which intercepted the up-dip expression of the zone, returning 1.42 g/t AuEq over 55.5 m (1.38 g/t Au, 1.03 g/t Ag, 0.02 % Cu);
- Improved the definition and spatial continuity of the Goldstorm porphyry system which is comprised of four separate mineral domains over an area that measures approximately 2,500 m in length, 1,000 m in width and 1,400 m in depth. The Goldstorm Deposit remains open to the south, north, northeast and at depth;
- New drill discoveries made at Perfectstorm, Calm Before the Storm and Eureka zones with several diamond drill holes intercepting significant gold, copper and silver mineralization. These holes will be followed up by subsequent exploration programs, but the priority will be to drill off the limits to the Goldstorm Deposit for 2023.
Ken Konkin, President and CEO of Tudor Gold, commented as follows: “Over the past two years, we have seen significant expansion to our Goldstorm Deposit during these very successful drill campaigns, particularly in the northern aspect of the deposit. Additionally, we exposed significant precious metal values in three other bulk-tonnage targets: Eureka, Calm Before the Storm and Perfectstorm. Perfectstorm is the largest of these three targets and is located equidistant between the Goldstorm Deposit and Seabridge Gold’s Iron Cap Deposit, a mere three kilometers from each of those deposits. The Treaty Creek project continues to hold incredible geological potential for discovery of several large intrusive-related and porphyry-type targets. One of the biggest highlights of the 2021-2022 drilling programs was discovery of a structural corridor located in northern aspect of the step-out drilling which hosts significant fine-grained to coarse-grained visible native gold. In drill hole GS-22-134, our geologists observed 17 grains of native gold over 4.5 m that averaged 20.86 AuEq (20.61 g/t Au, 1.50 g/t Ag, 0.20 % Cu). We have not specifically targeted this high-grade corridor, yet numerous drill holes intersected visible gold within the northern aspect to the step-out drilling, this is something we did not expect. We look forward to continuing the step-out drilling in 2023. One very important aspect to consider with the Goldstorm Deposit is that not only are the gold-copper-silver composites grades increasing to the north, but we are maintaining a very high-level of grade consistency throughout this area. As the saying goes: if grade is king of the deposit, then surely consistency should be queen; we clearly have demonstrated that we have excellent consistency throughout the entire deposit.”
Results from the 2021 and 2022 drill programs will be included in the next updated Mineral Resource Estimate on the Goldstorm Deposit, which is anticipated to be released in the first half of 2023. Tudor Gold’s objective is to optimize the current Mineral Resource by concentrating on higher grades to increase the overall quality of gold, silver, and copper resources. As a result, Tudor Gold is focused on delivering an enhanced Mineral Resource Estimate on the Goldstorm Deposit which will improve the overall prospects of the Treaty Creek Project as it advances towards a Preliminary Economic Assessment (PEA).
Dino Cremonese, P. Eng., President and CEO of Teuton comments: “This is an excellent review of the work completed since the maiden Mineral Resource Estimate published on March 9, 2021. Results from the 70,000 m drilled since then are expected to materially expand resources. I would like to take this opportunity to thank Tudor Gold and Ken Konkin for doing an outstanding job; thanks also go to the-diamond drillers, More Core Drilling and Hy-tech Drilling, Yellowhead Helicopters, and Tudor Gold’s geological and support staff.”
Table 1. Select Drilling Highlights from the Goldstorm Deposit at Treaty Creek (Completed in 2021 and 2022)
|Hole||Purpose||Zone(s)||From (m)||To (m)||Interval (m)||Au (g/t)||Ag (g/t)||Cu (ppm)||AuEq (g/t)|
|GS-21-113||Step-out||300H + CS600||255.0||1227.0||972.0||0.91||3.66||2647||1.27|
|And including (CS600)||822.0||1227.0||405.0||0.65||4.64||6179||1.44|
|GS-21-116||Infill||300H + CS600||296.0||1388.0||1092.0||0.52||2.84||1653||0.75|
|And including (CS600)||1040.0||1388.0||348.0||0.62||3.42||4379||1.18|
|GS-21-113-W2||Step-out||300H + CS600||255.0||1752.5||1497.5||0.76||3.70||2685||1.12|
|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.|
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 and American Creek Resources holds the final 20% carried interest (Tudor Gold is responsible for paying all exploration costs up until such time as a production decision is made and currently owns a 60% working interest). Teuton also owns a 0.98% NSR in the Goldstorm deposit area. It also owns numerous additional royalty interests within the Sulphurets 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.
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 in cash and often also in shares of the optionee companies), has provided Teuton with substantial income over the years.
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.
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.