September 23, 2019 – Vancouver, Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TUC”- Frankfurt) has received a report from JV partner Tudor Gold containing assay results from the next six holes of the 2019 drilling program at Treaty Creek. These results include two deep vertical diamond drill holes (drilled to a depth of over 1,000m) and four definition drill holes, all of which intercepted significant mineralization in the Goldstorm Zone. The Treaty Creek property is located in the Golden Triangle region of BC, immediately north of and along regional strike from Seabridge Gold’s KSM property and Pretium Resources’ Brucejack-Snowfield property.
D. Cremonese, P.Eng., President of Teuton commented as follows: “I am very pleased with these results. If you include the three holes in the previous news release, we now have all 9 holes drilled so far in 2019 containing long intervals of gold mineralization. The Goldstorm zone has been extended from 500m to 800m, a 60% increase, and the deepest gold intersection is now over 1,080m compared to last year’s best hole which ran to 563m. Moreover, for the first time we are seeing copper mineralization coming in at depth. Best of all, the Goldstorm zone remains wide open to extension to the northeast and to depth.”
Hole GS19-47 was drilled as a 150m step-out from hole GS19-42 (reported July 30, 2019 averaging 0.683 g/t Au over 780m) and was drilled vertically to a total depth of 1,199m, ending in mineralization. The hole contains strong stockwork with gold-bearing mineralization accompanied by significant base-metal disseminated sulphide mineralization averaging 0.589 g/t Au over 1081.5m including an upper interval of 0.828 g/t Au over 301.5m and a lower interval of 0.930 g/t Au over 207 m. The hole was stopped in mineralization due to the drill rig reaching its depth limitation, however, casing was left in the hole for possible continuation next year.
This 150 meter step-out hole confirms that the Goldstorm system is gaining strength to the northeast. With this strongly mineralized intercept, the Goldstorm Zone has been extended by a total of 300m this year from the best hole drilled in 2018 (CB18-39, averaging 0.981 g/t Au over 563.8m) and has now been traced along strike for over 800 meters.
Goldstorm Definition Drilling
A second deep vertical hole, GS19-48, was drilled to a total depth of 1035m from the same pad as CB18-39 (drilled in 2018). The results exhibit excellent continuity of mineralization between holes and this drill hole returned 0.725 g/t Au over 838.5m, including a near surface interval of 328.5m averaging 1.048 g/t gold Au.
Four footwall definition holes (GS19-43 to GS19-46) drilled on section 109+00 NE, were successful in extending the width of the mineralized zone, to the southeast into the footwall of the controlling fault structure.
- Hole GS19-43 returned an average of 0.566 g/t Au over 493.5m;
- Hole GS19-44 returned an average of 0.807 g/t Au over 267m including 1.065 g/t Au over 150m;
- Hole GS19-45 returned an average of 0.719 g/t Au over 325.5m including 1.000 g/t Au over 173m.
- Hole GS19-46 returned an average of 0.510g/t Au over 594m including 0.734 g/t Au over 162m.
Tudor Gold Exploration Manager, Ken Konkin explains: “Given the success of the two deep drill holes GS19-47 and GS19-48, the Goldstorm System shows no signs of weakening to the northeast and several more drill holes will be required to find the length and depth of this huge gold system. Hole GS19-47 showed a very strong quartz stockwork system and was still in gold values at the end of the 1,199 meter drill hole. The bottom of GS19-47 averages 0.930 g/t Au over 207 meters. This is the first time we’ve seen this strength of gold mineralization at depth. Furthermore, a strong copper association was encountered with gold values at depth in both GS19-47 and GS19-48.
“A 151.5m zone of 0.22% copper with 0.572 g/t gold was intercepted from 665.0 to 816.5 meters in GS19-47 and a 66.0m zone of 0.35% copper with 0.958 g/t gold was intercepted from 874.5 to 940.5m in GS19-48.
“Not only does the Goldstorm Zone remain open at depth and along strike, we are now seeing base-metal associations possibly as part of a zonation within the metal system.”
The following table provides gold composites from the six drill holes completed on three sections that cut the Goldstorm Zone:
Table I: Gold Composites for GS19-48 to GS19-43
|SECTION||HOLE ID||FROM (M)||TO (M)||Interval (M)||GOLD (g/t)|
* All assay values are uncut and intervals reflect drilled intercept lengths.
* True widths of the mineralization have not been determined
Goldstorm Zone Drill Section 109+00 NE, 111+00 NE and 114+00 NE
Section 114+00 NE is a 300 m step-out on strike from 111+00 NE and hole GS19-47 hosts what is now the longest and deepest gold intercept on the project to date. Cf: http://teuton.com/section114N
Section 111+00 NE shows the consistency of the upper horizon gold grades between holes and new depth extension in hole GS19-48. Cf: http://teuton.com/section111N
Section 109+00 NE shows four definition holes drilled this season to better outline the extent of the zone to the southeast. Cf: http://teuton.com/section109N
Goldstorm Zone Plan Map
The Goldstorm Zone now extends more than 800 meters in strike length and remains open along strike to the Northeast and Southwest as well as to depth.
The diamond drilling program continues with two drill rigs. Additional results will be announced as they become available.
Walter Storm, President and CEO of Tudor Gold, stated: “I am very pleased to see that all nine holes drilled have reported very good results and we have not missed on any step-out targets nor any footwall extension holes, they were all hits. These results have proven that we have an excellent understanding of the structure, geology and mineralogy of this massive gold system. I am looking forward to continuing our exploration efforts in order to unlock the full potential of this large gold system.”
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 technical data in this news release for the purposes of National Instrument 43-101 is Tudor Gold’s Exploration Manager, Ken Konkin, P.Geo. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release. Teuton Resources’s Qualified Person, Dino Cremonese, P. Eng. (who as President is not independent of the Company) has not reviewed the data but has no reason to believe it is unreliable.
Teuton owns interests in more than thirty properties in the prolific “Golden Triangle” area of northwestern British Columbia and was one of the first companies to adopt what has since become known as the “prospect generator” model. Eight of these properties are currently under option to third parties. Over $2 million in option cash payments has been generated from these optioned properties since 2015, including properties where optionees have already earned their interest (this does not include the value of shares received from the optioning companies). Teuton presently holds 2.975 million shares of Tudor Gold, the Operator of the Treaty Creek property.
Teuton’s Interest in Treaty Creek
Teuton was the original staker of the Treaty Creek property 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) as well as a 0.98% NSR in the claims covering the Goldstorm zone. A 0.49% NSR is owned in the peripheral claims.
Shareholders and other interested parties can access information about Teuton at the Company’s website, www.teuton.com.
“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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