Teuton was formed in 1982 and has been acquiring and exploring land in the Golden Triangle region of northwestern British Columbia (Canada) ever since. It now controls 300,000 acres of claims separated into about 25 properties and leads all other companies in ground staked.The Golden Triangle is British Columbia’s foremost gold and silver district. Two of the most famous mines within the region are the Premier mine discovered in 1918 and the Eskay Creek mine discovered in 1989. The Eskay Creek mine is considered to be the richest gold and silver VMS deposit in the world.
Recently, the region has become even more prominent due to the discovery of very large gold and gold-copper deposits in the Sulphurets area, near the center of the Golden Triangle. Two companies, Seabridge Gold and Silver Standard Resources have spent multi millions of dollars exploring for gold in the Sulphurets area in the past four years. In 2010, Silver Standard sold its Snowfield and Brucejack properties to Pretium Resources, who plan on spending about 20 million on these projects in 2011, with an estimted 60,000 to 70,000 meters of drilling. Recent indications are that they have established combined resources equating to over 70 million ounces of gold with over 10 billions of pounds of copper. Potential for 100+ million ounces of gold is considered excellent.
The Sulphurets area has been staked since the 1960’s, but continuations of the same geology to the north and the south were open until the early 1980’s when they were acquired by staking by Teuton. Drilling in 2009 and 2010 of Teuton’s claims to the north, the Treaty Creek property, established similar interval lengths and grades to that encountered in Seabridge’s largest deposit, the Mitchell. An aggressive exploration program consisting of sampling and drilling is planned for 2011 on Teuton’s claims to the south, called the High Property.
Teuton also owns large tracts of land adjoining south of Imperial Metals promising Red Chris discovery, where Hole RC09-350 ran 152.5m averaging 4.12% copper and 8.83 g/t gold. It holds land a few hundred metres north and on strike of Decade Resources promising Red Cliff discovery. It owns royalty interests in land surrounding the Granduc mine of Bell Copper and Castle Minerals. West of the Eskay Creek mine it owns the Bonsai property where optionee Copper Creek Venture spent $1.25 million in 2010 drilling a strong, coincident geophysical and geochem anomaly. Drilling in 2009 and 2010 produced high-grade gold grades over good widths at its Clone property (under option to Canasia Industries) and an extensive bulk sampling program, aiming at extracting between 400 and 500 tons, is scheduled for 2011. Southeast of Great Bear’s BA property it holds the Stamp claims, now under option to Decade Resources and having similar geology to the BA. Its claims surround the Homestake gold-silver property of Bravo Ventures on three sides. Promising gold, copper, and/or silver mineralization has been found on its Tennyson, Del Norte, Harry, 4-J’s, Catspaw, Ram, Bud, Konkin Silver, Silver Bell, Bay Silver and Orion claims.
Both the federal and provincial government recently approved a $600 million dollar extension of a transmission line into the heart of the Golden Triangle. This line is vital to the start-up of potential mines at Red Chris, Galore Creek, and the Sulphurets claims of Seabridge Gold and Pretium Resources, all of which are currently at some stage in the permitting process.
