Vancouver, Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TFE”- Frankfurt) has received word from its Joint Venture partner, Tudor Gold Corp., that the first set of drill results from Phase l of the 2022 exploration program on the Treaty Creek property has been received. Drilling is continuing with 8 rigs exploring the Goldstorm and related gold and gold-copper zones, situated five kilometres to the north of Seabridge Gold’s KSM property and Newcrest Mining’s Brucejack property, the latter recently acquired for $3.5 billion dollars. The Treaty Creek property is located in the heart of the Golden Triangle of northwestern British Columbia.
The 2022 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 five diamond drill holes that were drilled on the Goldstorm Deposit from sections 109+50 NE, 116+00 NE, and 117+00 NE. All holes were targeted outside the 2021 Mineral Resource Estimate area (see URL link located at the end of this news release).
SECTION 109+50 NE
- GS-22-135 intersected 55.5 meters (m) grading 1.42 g/t AuEq within 190.5 m of 0.80 g/t AuEq. The hole targeted a high-grade intercept from the 2020 program (GS-20-66) which sits outside of the current resource area. The new zone has been named “Route 66” and warrants further exploration to understand the extents of the system. Visible gold was identified in the drill core.
SECTION 116+00 NE
- GS-22-129 stepped out on the DS5 resource area and returned 28.5 m of 2.33 g/t AuEq within 89.35 m grading 1.02 g/t AuEq. Gold and silver mineralization was encountered past the footwall side of the Treaty Thrust Fault 2 (TTF2). The extension of DS5 to the northeast and renewed understanding of the nature of mineralization shows that this domain is vast in size and remains unbounded. GS-22-129 stepped out 150 m from the 2021 drilling.
SECTION 117+00 NE
- GS-22-130 intersected DS5 mineralization grading 1.51 g/t AuEq over 45.0 m within 91.5 m grading 1.17 g/t AuEq. Similar to GS-22-129, mineralization was encountered past the footwall of TTF2. GS-22-130 stepped out 175 m from the 2021 drilling.
- GS-22-131 also targeted DS5 and intersected mineralization past the footwall of TTF2, returning 1.07 g/t AuEq over 26.5 m, within 163.0 m of 0.61 g/t AuEq. GS-22-131 stepped out 115 m from the 2021 drilling.
- GS-22-133 stepped out 200 m from the 2021 northern drilling extents of 300H and CS600 domains. An exceptional interval of 1.51 g/t AuEq (0.89 g/t Au, 0.49 % Cu) over 237.3 m was reported within a broader mineralized zone of 0.91 g/t AuEq over 600.0 m. This confirms the extension of CS600 to the north and shows an increase of gold and copper grades at depth.
Ken Konkin, President and CEO of Tudor Gold, commented as follows: “We are extremely pleased with the first set of results of our 2022 Goldstorm resource expansion drill program. We continue to encounter strong gold, silver and copper mineralization outside the previously defined resource area. The overall strength and consistency of the Goldstorm system continues to amaze our entire technical team as the deposit remains open in all directions and at depth. We have commissioned the next set of 200 m to 300 m step-out holes based on these overwhelming positive results. Additionally, we have confirmed the discovery of a new zone in the southern portion of Goldstorm which adds yet another dimension to this expanding deposit. Based on an intercept obtained in 2020 from GS-20-66 which was formerly believed to be part of the CS600 Domain (2.15 g/t AuEq over 75.0 m), the 100 m step-out hole GS-22-135 intercepted an up-dip expression of 1.42 g/t AuEq over 55.5 m. This has been named Route 66 (R-66). This is clearly a gold-dominant system that exists separate to the known CS600 and DS5 Domains. Drilling continues at a fast pace at Treaty Creek with eight drill rigs on site. Our crews have completed over 20,000 m of drilling to-date and we anticipate more results to be released in a timely manner throughout the summer.”
Table 1: Drilling Results Goldstorm in Press Release July 12, 2022
|Section||Hole||From (m)||To (m)||Interval (m)||Au (g/t)||Ag (g/t)||Cu (ppm)||AuEq (g/t)|
|109+50 NE||GS-22-135(1) (R-66)||185.00||375.50||190.50||0.78||0.74||149||0.80|
|116+00 NE||GS-22-129 (DS5)||968.15||1057.50||89.35||0.88||9.47||297||1.02|
|117+00 NE||GS-22-130 (DS5)||1029.00||1120.50||91.50||1.04||7.30||304||1.17|
|117+00 NE||GS-22-131 (DS5)||1155.50||1318.50||163.00||0.45||4.77||811||0.61|
|117+00 NE||GS-22-133 (300H)||345.00||453.00||108.00||0.57||2.37||63||0.61|
|And (300H, CS600, DS5)||804.00||1404.00||600.00||0.60||2.35||2414||0.91|
|Hole GS-22-132 stopped short of the intended target and was redrilled as GS-22-135. GS-22-132 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 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 12, 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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