Strong Gold-Copper Porphyry Mineralization Intersected in Northernmost Step-Out;
1.82 g/t AuEq over 114.0 Metres within 592.5 Metres of 1.16 g/t AuEq
Vancouver, Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TFE”- Frankfurt) has received the eighth set of drill results from its Joint Venture Partner, Tudor Gold, with respect to 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: “Our entire team is very pleased to see the continued success of the exploration program in the northern-most limits of the Goldstorm Deposit within domain CS600. We continue to intersect pulses of very strong gold and copper mineralization with 1.82 g/t AuEq (1.04 g/t Au, 5.17 g/t Ag and 0.61% Cu) over a 114-metre (m) intercept. Precious and base metal values were equally impressive over double this same intercept averaging 1.50 g/t AuEq over 235.5 m in hole GS-22-158 and values were comparable to the hole above this, GS-22-151-W1 with 1.27 G/T AuEq over 300 m. GS-22-158 successfully undercut GS-22-151-W1 by approximately 100-150 m and ended in strong copper-gold mineralization as did GS-22-151-W1. In-fill drilling successfully added confidence with our resource model as GS-22-156 intersected 1.0 g/t AuEq over 294 m within the 300H domain. This intercept was punctuated by a high-grade gold intercept of 28.7 g/t Au and 16.2 g/t Ag (28.9 AuEq) over 1.5 m near the bottom of the composite. In addition to increasing our deposit footprint northwards, we were also successful in expanding mineralization to the southwest with a 100 m step-out drill hole CB-22-01 which intersected significant near-surface gold values over 168 m that averaged 0.68 g/t AuEq. This hole was drilled well outside the area of the 2021 initial resource model for the Goldstorm Deposit demonstrating that mineralization remains open in all directions and to depth. Crews will be wrapping up the exploration program this week and will be collecting several new composites for metallurgical tests with samples for petrographic and ore microscopy studies from our Stewart-based core facility. Our drills have been de-mobilized and both upper and lower camps have been shut down. We have several drill holes awaiting results from the lab and we will announce these results shortly after we receive them.”
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 five diamond drill holes that were drilled on the Goldstorm Deposit, Copper Belle Deposit, and Konkin Zones (Sections K, L, 98+50 NE and 94+50 NE). At Goldstorm, one out of two holes were drilled partially or completely outside the 2021 NI 43-101 Mineral Resource Estimate area.
A URL for a Treaty Creek plan map and sections is attached here: corresponding Treaty Creek plan map and sections).
- GS-22-156 was drilled as an infill hole within the 300H domain in the area of the footwall of the Treaty Thrust Fault 1 (TTF1). An intercept of 294.0 m grading 1.0 g/t AuEQ (0.92 g/t Au, 4.38 g/t Ag, 0.02% Cu) was returned with a high-grade segment with 13.5 m grading 5.16 g/t AuEQ (4.99 g/t Au, 5.17 g/t Ag, 0.09% Cu).
- GS-22-158 was drilled to target the CS600 domain and undercut GS-22-151-W1. An intercept of the CS600 gold-copper porphyry system was intercepted over a drill length of 592.5 m averaging 1.16 g/t AuEQ (0.73 g/t Au, 3.17 g/t Ag, 0.34% Cu) with an enriched zone of 1.82 g/t AuEQ (1.04 g/t Au, 5.17 Ag, 0.61% Cu) over 114.0 m. This hole confirms the consistency of mineralization throughout the porphyry system and that no boundary on the northern side of the system has been encountered. This hole is located 250 m north of the 2021 mineral resource estimate. Future exploration will target the northerly extension of this system.
COPPER BELLE DEPOSIT
SECTION 98+50 NE
- CB-22-01 was drilled as a 100 m southeastern step-out hole on the Copper Belle deposit. An interval of 168.0 m returned 0.68 g/t AuEQ (0.65 g/t Au, 1.97 g/t Ag, 0.01 % Cu) with a high-grade segment of 4.5 m grading 4.44 g/t AuEQ (4.31 g/t Au, 10.78 g/t Ag). This hole confirms the continuity of mineralization to the south of Copper Belle and that the deposit remains open.
- CB-22-02 was drilled as a 100 m northwestern step-out hole one the Copper Belle deposit. An interval of 39.0 m grading 0.65 g/t AuEQ (0.62 g/t Au, 0.72 g/t Ag, 0.02 % Cu). This hole confirms the continuity of mineralization to the south of Copper Belle and that the deposit remains open.
SECTION 94+50 NE
- KZ-22-01 was drilled as an exploration hole to follow up on anomalous gold surface samples. The hole encountered 46.5 m of 0.53 g/t AuEQ (0.51 g/t Au, 1.36 g/t Ag, 0.01% Cu) as well as a significant gold interval over 9.0 m of 3.60 g/t AuEQ (3.54 g/t Au, 5.32 g/t Ag). The hole intercepted propylitic and phyllic alteration which could be associated with the Goldstorm porphyry system or may be related to a separate intrusive event.
Table 1: Drilling Results for Goldstorm, Copper Belle, and Konkin Zone in Press Release November 1, 2022
|Section||Hole||From (m)||To (m)||Interval (m)||Au (g/t)||Ag (g/t)||Cu (ppm)||AuEQ (g/t)|
|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 November 1, 2022
|Section||Hole ID||UTM E NAD 83||UTM N NAD 83||Elevation (m)||Azi (ᵒ)||Dip (ᵒ)||Depth (m)|
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 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.
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.
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.