July 3, 2015, Vancouver, BC: Teuton Resources Corp. (“Teuton”) (“TUO”-TSX-V) (“TFE”-Frankfurt) (“TEUTF”—OTCBB) will be seeking option partners for its Harry and Silver Crown properties, situated north-northwest of Stewart, British Columbia in the Golden Triangle region of British Columbia.
The Harry property covers a series of gossans located between the old Granduc mining road and the Salmon River Glacier. Talus fine sampling along the edge of the glacier’s eastern side has disclosed geochem values ranging from a background level of 10 ppb gold to a highly anomalous value of 2,120 ppb gold, with 70 samples averaging 245 ppb gold. Grab samples of float rock taken downhill from gossanous cliffs overlooking the old Granduc road have yielded anomalous gold, silver lead and zinc values.
Immediately east of the Harry property is Ascot Resources Dilworth property which hosts three bulk tonnage style gold deposits centered on outcrops of cherty, siliceous andesite. These deposits—the Big Missouri, Martha Ellen and Dilworth—are centered on cherty andesite outcrops situated along a north-northwest trend which runs into the Harry property (see map). Ascot Resources has intensively explored its Dilworth property and the Premier property (to the south) over the last ten years, drilling hundreds of holes into various target zones.
The Silver Crown claims are situated on the eastern side of the Ascot’s Dilworth property and cover a number of showings including a series of narrow quartz sulfide veins, some of which carry local high silver values. In the northwest corner of the claim, an airborne geophysical EM anomaly occurs over the felsic Mt. Dilworth formation. The source of the anomaly is presently unknown. Meltback of ice and snow (ablation) has been quite pronounced along higher elevations over the past five years exposing many new areas for prospecting.
Teuton’s seized mineral claims are being advertised for sale and bidding closes July 24, 2015. Approximately $120,000, plus bailiff fees and associated costs, needs to be paid in order to redeem the claims. The Company is presently raising funds pursuant to a previously announced private placement, as well as negotiating the option or sale of certain of its mineral claims.
A hearing is scheduled before a Registrar on July 13 and 14 to determine what additional costs, if any, are owing to American Creek pursuant to a special costs award. Further information regarding litigation has been presented in previous news releases dated May 30, June 2 and June 5, 2015.
The Qualified Person for the purposes of this news release is D. Cremonese, P.Eng., who, as President and CEO, is not independent of the Company.
Shareholders and other interested parties can access information about Teuton at the Company’s website, www.teuton.com, which recently has been updated.
“Dino Cremonese, P.Eng.”
Teuton Resources Corp.
URL for Harry/Silver Crown map:
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This news release includes certain forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, as well as management’s objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. Teuton Resources Corp. does have an ongoing obligation to disclose material information, as it becomes available.
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