Vancouver, Canada – July 31, 2019 – 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 first three holes of the 2019 drilling program at Treaty Creek. 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
Tudor Gold Exploration Manager, Ken Konkin explains: “The Goldstorm system continues to grow rapidly along strike to the northeast and towards the footwall contact zone to the southeast. The best near-surface intercept obtained to-date on the project has been obtained from the latest hole; GS19-42. This is a vertical hole that is a 150m step-out to the northeast from drill hole CB18-39 (0.981g/t Au over 563.8m intercept). The higher grade upper portion of last year’s hole CB18-39 averaged 1.141 g/t Au over 280.5m compared to the same upper mineralized horizon of GS19-42 that averages 1.268 g/t Au over a 252.0 m intercept. The system appears to be gaining strength to the northeast as the depth is now showing to exceed 700m, with an average of 0.683 g/t Au over 780 meters of vertical intercept. The mineralized horizon appears to be near flat-lying with excellent grade consistency between holes along the upper horizon. Exploration efforts will attempt to extend the zone further to the northeast with yet another 150m NE step-out hole from GS19-42.”
The following table provides gold composites from the Goldstorm Zone in the first three 2019 drill holes completed:
Table I: Gold Composites for GS19-42, 41 and 40
|SECTION||HOLE ID||FROM M||TO M||Interval (M)||GOLD (gpt)|
* All assay values are uncut and intervals reflect drilled intercept lengths. True widths have not been determined.
Drill holes GS19-40 and GS19-41, were successful in locating the footwall contact zone, which is a very fine-grained strongly silicified volcanic unit. Furthermore, porphyritic intrusive was also encountered at the base of GS19-40, and within GS19-41 that returned anomalous copper and molybdenum values. As well, a strong silver-bearing base-metal system has been seen for the first time in the northernmost hole (GS19-42), within the upper mineralized horizon. Values of 33.51 g/t Au, 1,154 g/t Ag, 2.89% Cu, 5.96% Pb and 1.89% Zn were returned over a 1.5 meter interval from 209.5 m to 211.0 m was a pleasant surprise in the last hole GS19-42.
URLs where one can see Goldstorm Zone Drill Sections 108+00 NE and 112+50 NE and a Goldstorm Zone Plan Map are included at the bottom of the news release.
Walter Storm, President and CEO of Tudor Gold, stated: “I am delighted to see that the Goldstorm Zone has been expanded for another 150 meters with this step out drill-hole 42. I am looking forward to potentially expanding the Goldstorm zone again with another 150 meter step out drill-hole, which has started with our second drill.”
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.
The Qualified Person for this news release for the purposes of National Instrument 43-101 is Tudor Gold’s Exploration Manager, Ken Konkin, P. Geo. Teuton’s Qualified Person, D. Cremonese, P.Eng., has not verified the data but has no reason to believe it is unreliable. Mr. Cremonese is not independent of the Company.
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; these optioned properties and properties where optionees have already earned their interest, have generated cash proceeds of a little under $2.4 million since 2015, not including the value of shares received from the optioning companies. It presently holds 2.2 million shares of TudorGold, 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.
URLs for Illustrations
URL for Goldstorm Zone Drill Sections 108+00 NE http://teuton.com/wp-content/uploads/2019/07/Goldstorm_108N.pdf
URL for Goldstorm Zone Drill Sections 112+50 NE http://teuton.com/wp-content/uploads/2019/07/Goldstorm_112N.pdf
URL for Goldstorm Zone Plan Map http://teuton.com/wp-content/uploads/2019/07/Goldstorm_PlanView_July2019-1.pdf
“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.