Vancouver, Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TFE”- Frankfurt) has received assay results from its Joint Venture partner, Tudor Gold Corp. (“Tudor Gold”), in respect of the third set of drill results from the 2023 work program at the Treaty Creek property. Treaty Creek is located in the heart of the Golden Triangle of northwestern British Columbia, adjoining and on geological trend with Seabridge Gold’s KSM property and Newmont’s Brucejack property.
Tudor Gold has safely and successfully completed the 2023 drilling program with a total of 31,904 meters (m) drilled within areas encompassing the Goldstorm Deposit and the Perfectstorm Zone. The assay results reported in this release are from seven drill holes that targeted the northeastern area of the Goldstorm Deposit. Further results from holes which are currently being logged or are in for assay will be announced when received.
Click to view a plan map and cross sections: http://teuton.com/Treaty0923Figures.
Ken Konkin, President and CEO of Tudor Gold, commented as follows: “Once again we have been rewarded from our bold step-out drilling on the Goldstorm Deposit. These recent intercepts, outside the limits used for the April 28, 2023 Mineral Resource, continue to expand the size of the deposit and, at the same time, infill drilling has successfully defined large blocks containing strong gold, silver and copper mineralization within drill inferred areas. Our objective is to continue to explore the deposit limits to the northwest, north and northeast, thereby increasing the volume of the Mineral Resource while maintaining the higher gold, silver and copper grades of our most recent Mineral Resource Estimate. Our fundamental priority for continued exploration will be to define the limits of the known domains that comprise the Goldstorm Deposit and to upgrade areas of Inferred Resources to the Indicated category.
Drill hole GS-23-174 is a good example of the success we have had in defining areas of higher gold and copper values with, in this case, an unexpected increase in silver mineralization. The estimated silver content for the Indicated Resource within the CS-600 Domain is 5.45 g/t. Drill hole GS-23-174 was drilled at the northern limit of the deposit and had a 213.0 m interval averaging 13.32 g/t Ag, 0.89 g/t Au and 0.36 % Cu, which equals 1.45 g/t gold equivalent (AuEq). As well, we found significant silver mineralization along the upper contact area of the CS-600 Domain within drill hole GS-23-172. This northeastern-most drill hole contained elevated silver values, with a high of 571 g/t Ag over 1.5 m, near the end of the hole. Unfortunately, GS-23-172 was lost in fractured ground as it approached the upper contact of the CS-600 Domain at this location. We will target this area from a different angle next year.
Based on our geological observations from the latest drilling, we have constructed two more drill pads ready for the 2024 season that are located approximately 500 m northeast of the current Mineral Resource limit. From these two super-pads, we should be able to complete drilling on the northern aspect of the deposit. Currently the deposit is open in all directions and at depth. Once the final definition drilling of the Goldstorm Deposit is completed, we can then focus our exploration on three other very promising targets; Eureka, Calm Before the Storm (CBS), and Perfectstorm (PSZ), while we advance Goldstorm to the Preliminary Economic Assessment (PEA) phase of the project.”
Section 117+00NE
- GS-23-168-W2: Wedged off parent hole GS-23-168 to target the down dip extension of the CS-600 Domain intersected in hole GS-23-168-W1. The hole first passed through the 300H Domain with 216.0 m grading 1.11 g/t AuEq (1.05 g/t Au, 4.47 g/t Ag, 0.01 % Cu), but the hole then deviated beyond the planned orientation and was not able to continue to test CS-600 at depth.
Section A
- GS-23-171: Drilled to target the deep portion of the CS-600 Domain where the April 28, 2023 Mineral Resource Estimate (MRE) categorized the area as Inferred Resources. The hole encountered mineralization in the 300H Domain with 55.5 m grading 3.35 g/t AuEq (3.27 g/t Au, 6.62 g/t Ag, 0.01 % Cu) within a broader interval of 255.0 m grading 1.18 g/t AuEq (1.15 g/t Au, 2.01 g/t Ag, 0.01 % Cu). At depth, the drill hole terminated in mineralization within the CS-600 Domain due to poor ground conditions. The recovered CS-600 interval measured 91.5 m grading 1.03 g/t AuEq (0.86 g/t Au, 3.24 g/t Ag, 0.12 % Cu).
- GS-23-174: Drilled to target an area of Inferred Mineral Resources in the CS-600 Domain. This hole was fully completed and returned213.0 m of 1.45 g/t AuEq (0.89 g/t Au, 13.32 g/t Ag, 0.36 % Cu) with an enriched interval of 72.0 m grading 2.01 g/t AuEq (1.30 g/t Au, 23.34 g/t Ag, 0.40 % Cu).
Section B
- GS-23-173: Drilled as a 200 m northeast step-out from the CS-600 Domain boundary, as reported in the April 28, 2023 MRE. The hole terminated in faulted ground within the CS-600 Domain, although the upper part of CS-600 was recovered, averaging 1.03 g/t AuEq over 263.1 m (0.58 g/t Au, 5.46 g/t Ag, and 0.34 % Cu). Wedge holes were then drilled to complete the target intercept.
- GS-23-173-W1: This hole was terminated prior to target depth due to poor ground conditions.
- GS-23-173-W2: This hole was wedged above GS-23-173-W1 and was spaced at 6 m from the end of GS-23-173-W1, producing a twin intercept. The hole was successful and hit both the CS-600 Domain and what is interpreted to be a significant extension to the DS5 Domain. A CS-600 Domain interval of 253.50 m was intersected and averaged 0.91 g/t AuEq (0.48 g/t Au, 5.09 g/t Ag, 0.32 % Cu) with a 145.5 m interval grading 1.02 g/t AuEq (0.45 g/t Au, 6.63 g/t Ag, 0.42 % Cu). Below the CS-600 Domain, the DS5 Domain was intersected with an interval of 112.5 m grading 1.42 g/t AuEq (1.33 g/t Au, 3.40 g/t Ag, 0.05 % Cu).
Section C
- GS-23-172: Drilled to test the CS-600 Domain approximately 375 m to the northeast. The hole flattened beyond the planned orientation and did not intersect the CS-600 Domain. However, the hole returned several silver intercepts, most notably, 21.0 m of 67 g/t Ag near the end of the hole.
Table 1: Drilling Results for Goldstorm Deposit in Press Release September 27, 2023
| Section | Hole | Zone | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu (%) | AuEq (g/t) |
| 117+00NE | GS-23-168-W21 | 300H | 198.00 | 414.00 | 216.00 | 1.05 | 4.47 | 0.01 | 1.11 |
| including | 313.50 | 324.00 | 10.50 | 4.87 | 9.72 | 0.01 | 4.98 | ||
| A | GS-23-1711 | 300H | 426.00 | 681.00 | 255.00 | 1.15 | 2.01 | 0.01 | 1.18 |
| including | 438.00 | 465.00 | 27.00 | 2.42 | 0.57 | 0.01 | 2.43 | ||
| and | 561.00 | 616.50 | 55.50 | 3.27 | 6.62 | 0.01 | 3.35 | ||
| CS-600 | 1702.50 | 1794.00 | 91.50 | 0.86 | 3.24 | 0.12 | 1.03 | ||
| C | GS-23-172 | Other | 675.00 | 678.00 | 3.00 | 2.58 | 232.67 | 0.21 | 5.13 |
| Other | 1041.00 | 1062.00 | 21.00 | 0.13 | 66.95 | 0.06 | 0.85 | ||
| Including | 1041.00 | 1051.50 | 10.50 | 0.15 | 108.34 | 0.09 | 1.32 | ||
| And including | 1042.50 | 1044.00 | 1.50 | 0.10 | 571.00 | 0.23 | 6.01 | ||
| B | GS-23-1731 | CS-600 | 1014.00 | 1277.10 | 263.10 | 0.58 | 5.46 | 0.34 | 1.03 |
| including | 1123.50 | 1227.00 | 103.50 | 0.54 | 5.05 | 0.43 | 1.10 | ||
| B | GS-23-173-W2 | CS-600 | 105.00 | 358.50 | 253.50 | 0.48 | 5.09 | 0.32 | 0.91 |
| including | 166.50 | 312.00 | 145.50 | 0.45 | 6.63 | 0.42 | 1.02 | ||
| DS5 | 397.50 | 510.00 | 112.50 | 1.33 | 3.40 | 0.05 | 1.42 | ||
| including | 453.00 | 471.00 | 18.00 | 3.15 | 1.46 | 0.01 | 3.18 | ||
| A | GS-23-174 | CS-600 | 879.00 | 1092.00 | 213.00 | 0.89 | 13.32 | 0.36 | 1.45 |
| including | 1014.00 | 1086.00 | 72.00 | 1.30 | 23.34 | 0.40 | 2.01 | ||
| Hole was terminated prior to reaching target depthAll assay values are uncut and intervals reflect drilled intercept lengths.HQ and NQ2 diameter core samples were sawn in half and typically sampled at standard 1.5 m intervals.The following metal prices were used to calculate the Au Eq metal content: Gold $1800/oz, Ag: $20/oz, Cu: $3.5/lb. Calculations used the formula AuEq = Au g/t + (Ag g/t*0.0098765) + (Cu ppm*0.0001185). All metals are reported in USD and calculations consider recoveries of 90 % for gold, 80 % for copper, and 80 % for silver.True widths have not been determined as the mineralized body remains open in all directions. Further drilling is required to determine the mineralized body orientation and true widths. | |||||||||
Table 2: Drill data for holes in Press Release September 27, 2023
| Section | Hole ID | UTM E NAD 83 | UTM N NAD 83 | Elevation (m) | Azi (ᵒ) | Dip (ᵒ) | Depth (m) |
| 117+00 NE | GS-23-168-W2 | 428725.7 | 6273503.2 | 1060.9 | 290 | -57 | 1230 |
| A | GS-23-171 | 428933.0 | 6273444.6 | 1398.4 | 318 | -60 | 1794 |
| C | GS-23-172 | 429355.0 | 6273556.4 | 1228.4 | 320 | -59 | 1104 |
| B | GS-23-173 | 429032.6 | 6273665.6 | 1498.8 | 332 | -74 | 1277.1 |
| B | GS-23-173-W1 | 428941.4 | 6273864.1 | 625.9 | 345 | -77 | 193 |
| B | GS-32-173-W2 | 428941.1 | 6273865.0 | 622.0 | 344 | -77 | 558 |
| A | GS-23-174 | 429025.2 | 6273657.5 | 1498.4 | 275 | -79 | 1167 |
QA/QC
Diamond 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.
About Treaty Creek
Teuton was the original staker of the Treaty Creek property, host to the large Goldstorm deposit, assembling the core land position in 1985. It presently holds a 20% carried interest in the Treaty Creek Project (Tudor Gold is responsible for paying all exploration costs up until such time as a production decision is made and owns a 60% interest; American Creek Resources owns the remaining 20% interest, also carried). Additionally, Teuton owns a 0.98% Net Smelter Royalty in the Goldstorm deposit area. It also owns numerous additional royalty interests within the Sulphurets Hydrothermal system on properties such as the King Tut, Tuck, High North, Orion, Delta and Fairweather properties.
The Treaty Creek Project contains the Goldstorm Deposit (a large gold-copper porphyry system) as well as several other mineralized zones. As disclosed in the March 2023 News Release, the Goldstorm Deposit has an Indicated Mineral Resource (as defined in NI 43-101) of 23.37 Moz of AuEq grading 1.13 g/t AuEq (18.75 Moz gold grading 0.91 g/t, 2.18 Blbs copper grading 0.15 %, 112.4 Moz silver grading 5.45 g/t) and an Inferred Mineral Resource (as defined in NI 43-101) of 7.35 Moz of AuEq grading 0.98 g/t AuEq (5.54 Moz gold grading 0.74 g/t, 0.85 Blb copper grading 0.16 %, 45.08 Moz silver grading 5.99 g/t), with a pit constrained cut-off of 0.5 g/t AuEq and an underground cut-off of 0.7 g/t AuEq. The Goldstorm Deposit has been categorized into three dominant mineral domains and several smaller mineral domains. The CS-600 domain largely consists of an intermediate intrusive stock and hosts the majority of the copper mineralization within the Goldstorm Deposit. CS-600 has an Indicated Mineral Resource of 9.86 Moz AuEq grading 1.10 g/t AuEq (6.22 Moz gold grading 0.70 g/t, 1.98 Blbs copper grading 0.32 %, 51.1 Moz silver grading 5.71 g/t) and an Inferred Mineral Resource of 3.71 Moz AuEq grading 1.19 g/t AuEq (2.32 Moz gold grading 0.75 g/t, 0.76 Blb copper grading 0.36 %, 18.71 Moz silver grading 6.01 g/t). The Goldstorm Deposit remains open in all directions and requires further exploration drilling to determine the size and extent of the deposit.
1 AuEq = Au g/t + (Ag g/t*0.0098765) + (Cu ppm*0.0001185)
About Teuton
Teuton owns interests in more than thirty properties in the prolific “Golden Triangle” area of northwest British Columbia and was one of the first companies to adopt what has since become known as the “prospect generator” model. This model minimizes share equity dilution while at the same time maximizing opportunity. Earnings provided from option payments received, both in cash and in shares of the optionee companies over the past 6 years, has provided Teuton with substantial income.
On Behalf of the Board of Directors of Teuton Resources:
“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:
Barry Holmes
Director Corporate Development and Communications
Tel. 778-430-5680
Email: bholmesmba@gmail.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.
