Vancouver, Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TFE”- Frankfurt) has received assay results from its Joint Venture partner, Tudor Gold Corp., on the second set of drill results from the Phase l work 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 and Director of Teuton, commented as follows: “Continuing from the impressive drill results presented in the July 12th 2022 Press Release that reported a 200 m northeastern step-out from the 2021 program, we are extremely pleased to present the second set of results of our 2022 Goldstorm resource expansion drill program. The previously announced GS-22-133 (0.91 g/t AuEq over 600.0 m, with an enriched zone of 1.51 g/t AuEq over 237.3 m) is extremely consistent with the results obtained from GS-22-134 that yielded 0.97 g/t AuEq over 663.0 m, with an enriched zone of 1.76 g/t AuEq over 205.5 m. These holes are located approximately 300 m apart. Significantly, we also discovered a high-grade pulse of gold mineralization within GS-22-134 that carried 20.86 g/t AuEq over 4.5 m within a 25.5 m zone of 9.96 AuEq, which displayed 17 occurrences of free visible gold within stockwork veins. In addition, we are seeing continued success with drill holes completed on the DS5 domain. Step-out drilling that has expanded the area of this domain includes GS-22-137 which contained 1.44 g/t AuEq over 232.5 m, with an enriched zone of 2.03 g/t AuEq over 60.0 m. The Goldstorm deposit remains open in all directions and at depth. Drilling at our newly discovered CBS system provided positive results with numerous at surface intercepts that ranged between 1.00 g/t AuEq to 1.53 g/t AuEq over 7.5 m to 9.4 m, with a deeper intercept that grades 0.77 g/t AuEq over 79.5 m. Continued drilling is recommended for the CBS Zone, however, for the remainder of this season all drills will continue drilling at Goldstorm, as the extent of this deposit continues to expand with extremely positive results. We have stepped out approximately half a kilometer with outstanding and consistent results and we will continue to drill step-out holes for 2022.”
The Program at the Treaty Creek property includes an aggressive resource expansion and delineation plan on several areas including the Goldstorm Deposit and the Eureka and Calm Before the Storm zones. Results included in this press release are reported from eight diamond drill holes; four that were drilled on the Goldstorm Deposit from sections 112+00 and A, and four that were drilled on the Calm Before the Storm Zone (CBS). Seven out of eight holes were targeted outside the 2021 Mineral Resource Estimate area (see URLs at the end of this news release for a plan map and section).
D. Cremonese, President and CEO of Teuton Resources, commented as follows: “The interval in hole GS22-134, 25.5 m grading 9.96 g/t AuEq, is the highest grade intersection yet recorded at Treaty Creek. Quite possibly it represents a new form of mineralization among the many occurrences already discovered at the property. Should further results substantiate that the high-grade zone has significant dimension, it would materially enhance the economics at Treaty Creek, complementing the extensive bulk tonnage porphyry gold and gold-copper mineralization already found.”
- GS-22-134 stepped out on the 300H and CS600 resource area and returned 663.0 m grading 0.97 g/t AuEq. The hole ended 500 m to the northeast from the 2021 drilling, well outside the existing resource estimate area. A high-grade interval of 9.96 g/t AuEq over 25.5 m contained an enriched zone of 20.86 g/t AuEq over 4.5 m. This 25.5 m interval of a newly discovered high-grade gold pulse contained 17 occurrences of visible gold and is interpreted to be either a continuation of CS600 or a separate intrusive stock that is genetically related to CS600.
- GS-22-136 stepped out on the DS5 resource area and returned 34.5 m of 2.64 g/t AuEq within 82.7 m of 1.62 g/t AuEq. GS-22-136 stepped out 80 m from the 2021 drilling and tested the continuity of mineralization proximal to the Treaty Thrust Fault 2 (TTF2).
- GS-22-137 stepped out on the DS5 resource area and returned 232.5 m of 1.44 g/t AuEq within 442.5 m of 1.02 g/t AuEq (DS5). An intersection of CS600 was also observed; previously it was hypothesized that CS600 could be pinched off to the east. Both intersections significantly improve the understanding of the size and continuity of both the CS600 and DS5 and will be valuable additions to the next resource estimate. GS-22-137 stepped out 125 m from the 2021 drilling.
SECTION 112+00 NE
- GS-22-138 tested the southern boundary of the DS5 resource area and returned 33.5 m of 1.00 g/t AuEq within 108.0 m of 0.70 g/t AuEq. This hole also provided infill drilling of CS600 which confirmed with a near surface copper-gold intersection of 241.5 m of 0.80 g/t AuEq.
CALM BEFORE THE STORM (CBS)
- CBS-22-04 confirmed the near surface mineralization with an intersection of 8.85 m of 1.30 g/t AuEq. A second deeper intersection returned 42.25 m of 1.03 g/t AuEq within 79.5 m of 0.77 g/t AuEq.
- CBS-22-05 confirmed the near surface mineralization with an intersection of 9.7 m of 1.00 g/t AuEq. A second deeper intersection returned 12.0 m of 1.00 g/t AuEq within 30.0 m of 0.67 g/t AuEq.
- CBS-22-06 confirmed the near surface mineralization with an intersection of 7.5 m of 1.04 g/t AuEq.
- CBS-22-07 confirmed the near surface mineralization with an intersection of 7.5 m of 1.56 g/t AuEq.
Table 1: Drilling Results Goldstorm and CBS in Press Release July 20, 2022
|Section||Hole||From (m)||To (m)||Interval (m)||Au (g/t)||Ag (g/t)||Cu (ppm)||AuEq (g/t)|
|112+00 NE||GS-22-138 (CS600)||136.00||377.50||241.50||0.48||7.57||1962||0.80|
|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 July 20, 2022
|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 Instrument 43-101 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 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.
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 over the past 6 years, has provided Teuton with substantial income.
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. 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.
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
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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.