Vancouver, Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TFE”- Frankfurt) has received the fifth set of drill results from its Joint Venture Partner, Tudor Gold, with respect to 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: “We are extremely pleased with the 5th set of results for the 2022 Treaty Creek drill hole program. Not only do we see continued success in the step-out drilling of the large Goldstorm Deposit and its various domains, but we also see the continuation of hitting high-grades within pulses of gold and silver as a late-stage, over-printed style of mineralization. Notably, much higher silver mineralization is associated with these late-stage features as supported by a 1.5 meter (m) interval within the 300H domain which yielded 24.11 g/t AuEq (20.40 g/t Au, 311 g/t Ag and 648 ppm Cu) within GS-22-146 as part of a 10.5 m composite that averaged 9.55 g/t AuEq (8.77 g/t Au, 62.44 g/t Ag and 410 ppm Cu). Similarly, within hole GS-22-147, a 1.10 m intercept yielded 22.79 g/t AuEq over 1.10 m (13.4 g/t Au, 801 g/t Ag and 196 ppm Cu). These two high-grade precious metal intercepts occur deeper within the 300H domain and are 285 m apart from each other. Three of the six reported Goldstorm holes were step-out drill holes that were drilled outside the 2021 Resource Estimate area; the other drill holes were targeted to infill large blocks that represent significant tonnages within the resource model. Within the 300H domain, we continue to recover long intercepts of gold-silver mineralization that contains a core of gold-silver enrichment: GS-22-146 cut 517.5 m of 1.10 g/t AuEq (1.02 g/t Au, 4.17 g/t Ag, 285 ppm Cu) with an enriched, deeper portion averaging 2.64 g/t AuEq over 102 m (2.48 g/t Au, 8.88 g/t Ag and 491 ppm Cu). Step-out drill holes into the CS600 domain continue to produce strong copper grades associated with gold-sliver mineralization. GS-22-147 cut 0.41 % Cu over 87.0 m that averaged 1.01 g/t AuEq (0.45 g/t Au, 6.86 g/t Ag, 0.41 % Cu).
Drilling at the Eureka Zone revealed gold-silver mineralization similar to the DS5 Domain of Goldstorm. Geologic similarities include the occurrence of post-mineral intrusive dykes as observed throughout the Goldstorm Deposit as well as fault off-sets. The best drilling results of the season so far were obtained from EZ-22-12 which intersected 46.0 m of 1.05 g/t AuEq (0.89 g/t Au, 6.41 g/t Ag and 697 ppm Cu). Drilling continues as we have yet to determine any limits to the Goldstorm or Eureka systems.”
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 twelve diamond drill holes that were drilled on the Eureka Zone (Sections EZ – A, EZ – B, EZ – C) and six diamond drill holes that were drilled on the Goldstorm Deposit (Sections E, F, G, H) At Goldstorm, three out of six holes were drilled partially or completely outside the 2021 Mineral Resource Estimate area (a URL for Treaty Creek plan map and sections can be found at the end of this release).
- GS-22-146 was drilled to target the northwest extension of CS600. The successful CS600 intercept was spaced 125 m down-dip from previous drilling. The hole first drilled through an exceptional intercept of the 300H domain which returned 517.5 m grading 1.10 g/t AuEq (1.02 g/t Au, 4.17 g/t Ag, 0.03 % Cu) which included a 10.5 m interval of 9.55 g/t AuEq (8.77 g/t Au, 62.44 g/t Ag, 0.04 % Cu). The CS600 domain intercept reported 24.0 m grading 4.72 g/t AuEq (4.50 g/t Au, 1.10 g/t Ag, 0.17 % Cu) within 88.5 m grading 2.10 g/t AuEq (1.85 g/t Au, 2.39 g/t Ag, 0.18 % Cu).
- GS-22-147 was also drilled as a northwest extension of CS600 with the hole landing 125 m from previous drilling, extending the CS600 down-dip. The 300H domain was intercepted prior to reaching the CS600 domain and reported several high-grade intervals, including 22.79 g/t AuEq (13.4 g/t Au, 801.00 g/t Ag, 2.83 % Cu) over 1.10 m, and 11.25 g/t AuEq (4.00 g/t Au, 335.00 g/t Ag, 2.83% Cu) over 1.05 m. The CS600 intercept reported 87.0 m grading 1.01 g/t AuEq (0.45 g/t Au, 6.86 g/t Ag, 0.41 % Cu).
- GS-22-148 was drilled as an infill hole within the 300H domain. The hole successfully intercepted 141.0 m grading 0.97 g/t AuEq (0.91 g/t Au, 3.37 g/t Ag, 0.02 % Cu).
- GS-22-150 targeted the CS600 along the north-western boundary of the domain to improve the understanding of continuity along the uppermost portion of the domain. The hole intercepted 52.5 m grading 1.09 g/t AuEq (0.66 g/t Au, 15.91 g/t Ag, 0.21 % Cu) and was spaced 90 m to the southwest from previous drilling.
- GS-22-144 stepped out 175 m to the northwest from the 2021 drilling and targeted the CS600 and DS5 domains which were both successfully intercepted. The CS600 intercept returned 90.0 meters grading 1.35 g/t AuEq (0.73 g/t Au, 16.3 g/t Ag, 0.36 % Cu) within a broader envelope of 220.5 m grading 1.02 g/t AuEq (0.62 g/t Au, 11.43 g/t Ag, 0.22 % Cu). Below this, the DS5 intercept reported 258.0 m grading 1.00 g/t AuEq (0.95 g/t Au, 3.22 g/t Ag, 0.01 % Cu).
A total of twelve diamond drill holes were drilled in the Eureka Zone to identify the potential for mineralization across the zone as well as identify geological controls to improve the understanding of controls for mineralization. Several holes hit favourable mineralized intercepts, including:
- EZ-22-04: 0.50 g/t AuEq (0.32 g/t Au, 6.01 g/t Ag, 0.09 % Cu) over 81.0 m.
- EZ-22-07: 0.51 g/t AuEq (0.45 g/t Au, 3.75 g/t Ag, 0.01 % Cu) over 81.0 m.
- EZ-22-08: 0.60 g/t AuEq (0.50 g/t Au, 4.86 g/t Ag, 0.04 % Cu) over 152.7 m.
- EZ-22-10: 0.54 g/t AuEq (0.43 g/t Au, 5.43 g/t Ag, 0.04 % Cu) over 135.0 m.
- EZ-22-12: 1.05 g/t AuEq (0.89 g/t Au, 6.41 g/t Ag, 0.07 % Cu) over 46.0 m.
- EZ-22-13: 0.58 g/t AuEq (0.49 g/t Au, 4.78 g/t Ag, 0.03 % Cu) over 142.05 m.
Table 1: Drilling Results for Eureka Zone and Goldstorm Deposit in Press Release August 23, 2022
|Section||Hole||From (m)||To (m)||Interval (m)||Au (g/t)||Ag (g/t)||Cu (ppm)||AuEq (g/t)|
|n/a||EZ-22-02||No significant values|
|n/a||EZ-22-03||No significant values|
|EZ – C||EZ-22-04||92.00||108.50||16.50||0.25||9.19||3567||0.78|
|EZ – C||EZ-22-05||51.50||149.00||97.50||0.28||5.29||151||0.36|
|EZ – C||EZ-22-06||63.15||206.00||142.85||0.30||5.09||159||0.38|
|EZ – C||EZ-22-07||8.00||89.00||81.00||0.45||3.75||144||0.51|
|EZ – A||EZ-22-08||26.30||179.00||152.70||0.50||4.86||402||0.60|
|n/a||EZ-22-09||No significant values|
|EZ – A||EZ-22-10||21.50||156.50||135.00||0.43||5.34||358||0.54|
|n/a||EZ-22-11||No significant values|
|EZ – C||EZ-22-12||36.00||82.00||46.00||0.89||6.41||697||1.05|
|EZ – B||EZ-22-13||26.90||168.95||142.05||0.49||4.78||303||0.58|
|GS-22-149||Hole failed to reach target. Not sampled.|
|Hole GS-22-149 stopped short of intended target depth and was not sampled. 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 August 23, 2022
|Section||Hole ID||UTM E NAD 83||UTM N NAD 83||Elevation (m)||Azi (ᵒ)||Dip (ᵒ)||Depth (m)|
|EZ – C||EZ-22-04||429885.63||6272276.15||1380.95||130||-90||264|
|EZ – C||EZ-22-05||429885.67||6272276.22||1380.92||130||-50||149|
|EZ – C||EZ-22-06||429886.38||6272275.57||1380.85||130||-55||254|
|EZ – C||EZ-22-07||429849.87||6272367.41||1357.83||130||-90||275|
|EZ – A||EZ-22-08||429776.44||6272172.80||1376.43||130||-90||182|
|EZ – A||EZ-22-10||429776.44||6272172.80||1376.43||270||-55||156.5|
|EZ – C||EZ-22-12||429708.00||6272443.00||1292.00||130||-90||201|
|EZ – B||EZ-22-13||429765.72||6272306.05||1345.64||315||-80||189|
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.
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.
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.