Teuton Resources Corp.(“Teuton”) (“TUO”:TSX-V; “TFE”-Frankfurt) announces that the 2009 Treaty Creek exploration program is set to start Aug. 5 and that it will include geochemical sampling, ground geophysics and up to 5,000 metres of drilling. More Core Drilling Ltd. of Prince George, B.C., has been contracted for the drilling and will mobilize two drills to the property.
The program is being funded by American Creek Resources pursuant to an option agreement. Although Teuton currently holds 100% of the property, American Creek can earn a 51% interest by spending $5 million prior to March, 2010 or a 60% interest by funding a feasibility study.
The Treaty Creek project is located directly north of and adjacent to the KSM project held by Seabridge Gold, which Seabridge reports is now one of the world’s largest undeveloped gold-copper projects. The KSM and adjacent Snowfield deposit owned by Silver Standard Mines are found within a northerly trending, 12km long belt marked by distinctive yellow-orange-red alteration zones. The Treaty Creek property represents the northern continuation of this geological trend, showing the same bright alteration zones continuing for a further 10km.
Significantly, drilling in 2007 of the Copper Belle and Eureka zones within the Treaty Creek property resulted in the discovery of several holes containing mineralization with grades similar to that of Seabridge’s Mitchell deposit. A reinterpretation of the data from the preliminary drilling of the GR-2 zone on the Treaty Creek property shows that it is consistent with precious metal-rich, volcanogenic massive sulfide mineralization. The GR-2 zone will be the prime focus of the 2009 exploration program.
It should be noted that the corporation’s qualified person has not verified the mineral resource results reported by Seabridge Gold or Silver Standard and that those results are not necessarily indicative of any mineralization on the Treaty Creek property. Dino Cremonese, P.Eng., is the qualified person for the purposes of National Instrument 43-101 for the Treaty Creek project and has verified and approved the contents of this news release.
ON BEHALF OF THE BOARD OF DIRECTORS
TEUTON RESOURCES CORP./strong>
“Dino Cremonese, P.Eng.”
Dino Cremonese, P.Eng.
President
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. Silver Grail Resource Ltd. And Teuton Resources Corp. do have an ongoing obligation to disclose material information, as it becomes available.
The TSX Venture Exchange has neither approved nor disapproved the information contained herein.
