Teuton Resources Corp. (“TUO – TSX Venture”) (“Teuton”) and Lateegra Resources Corp. (“LEG – TSX Venture”) (“Lateegra”) and are pleased to announce that drilling has commenced at the Del Norte gold-silver property, located 34 kilometers east of Stewart, British Columbia.
Four holes have been completed from the first pad, all intersecting the LG vein at various depths. A fifth hole, drilled from a second pad situated 230 meters to the north-northwest of the first pad, also intersected the LG vein at about 70 meters vertical below surface. Estimated true widths of all vein intersections are consistent with widths observed in surface exposures of the LG vein.
A further two holes are planned from the second pad. Approximately 20 to 30 additional holes from 7-10 pads are planned to test various locations between the second pad and the Kosciuszko zone located about 1,000 meters to the south-southeast. Other targets, in particular the newly-discovered Horatio zone, are also likely to be tested by drilling during the 2003 exploration program.
Pronounced meltback of snowfields since first discovery in 1990 has increased the observed strike length of the LG vein to 500 meters. It remains open for extension in both directions. Results of surface sampling along the 500 m strike length to date are as follows:
|Sample No.||Sample Width||Gold(oz/ton)||Silver(oz/ton)||Gold Equiv. *(oz/ton)|
|*Based on 70:1 ratio between current gold and silver prices|
|**Sampled over partial width of vein only. Footwall is obscured by overburden.|
The LG vein appears to be widening southward, where it disappears under a snowfield. A further 550 meters along strike to the south is the Kosciuszko zone with surface and drillindicated true widths varying from 8-10 meters. Because of the large intervening snowfield it is not known whether the LG vein and Kosciuszko zone are related structures. Lateegra Resources holds an option to earn a 50% interest in the Del Norte property from Teuton Resources Corp.
Exploration Update: Clone Property
Drilling has been completed on the Clone gold property, situated 20 kilometers southeast of Stewart, British Columbia. Eight holes were drilled on various targets. Core samples are to be submitted for analysis once core logging and diamond sawing of the core is complete. Lateegra Resources holds an option to earn a 50% interest in the Clone property from Teuton Resources Corp. and Minvita Enterprises Ltd.
The 2003 field programs on both the Clone and Del Norte properties are being supervised by qualified person Mr. Alex Walus, P. Geol.. Mr. Walus has 15 years experience exploring the Stewart region.
ON BEHALF OF THE BOARD OF DIRECTORS TEUTON RESOURCES CORP.
Dino Cremonese, P.Eng.
Teuton Resources Corp
Minvita Enterprises Ltd.
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