Step-Out Hole GS-23-170 Intersects 1.48 g/t AuEq Over 201 Meters
within 516 Meters Grading 1.19 g/t AuEq,
Outside the Goldstorm Deposit Mineral Resource Area
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., on the second set of drill results from the Phase l 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.
Since the beginning of this year’s Program, Tudor Gold has successfully completed over 21,000 meters (m) of drilling, within areas encompassing the Goldstorm Deposit and the Perfectstorm Zone. The five drill holes reported in this release are located in the northeastern area of the Goldstorm Deposit. Click to view plan map and cross sections.
Ken Konkin, President and CEO of Tudor Gold, commented as follows: “We are very pleased to confirm the continued expansion of the Goldstorm Deposit to the northeast. Results from our northeastern-most step-out drilling from section 120+50 NE will certainly expand the volume of the deposit with AuEq values well above the 0.7 gpt AuEq underground resource estimate cut-off grade used for our deposit. In addition, very large blocks within the previously estimated drill inferred category have been successfully intersected with very positive gold, copper and silver grades, which we believe will convert these blocks of mineralization into the drill Indicated category. Our goal is to increase the size of the resource without diminishing the grade. This will be a critical component to the Preliminary Economic Assessment (PEA) that we plan to complete once we have totally defined the Goldstorm Deposit. We have completed five additional drill holes on the Goldstorm Deposit and three drill holes at the Perfectstorm target, which are currently in the lab. Results will be announced once they are received and compiled. Crews have begun construction of drill pads required to pursue the northern aspects of the CS-600, 300H and DS5 domains for the 2024 drill program; these are beyond the scope and the time available to drill within our planned 2023 program. Defining the shape and extent of each domain is necessary prior to determining a mine plan, which is essential for the PEA level and beyond.”
SECTION 117+50NE
- GS-23-166-W1: This hole targeted the northern aspects of the CS-600 and DS5 Domains of the Goldstorm Deposit. The hole first intersected the northern aspect of the CS-600 Domain in an area that was classified as Inferred in the April 2023 Mineral Resource Estimate (MRE). The hole then successfully intersected DS5 Domain mineralization at approximately 115 m outside and to the northwest of the previous DS5 Domain boundary. Highlights include 153 m grading 1.29 g/t AuEq (0.75 g/t Au, 14.02 g/t Ag, 0.33 % Cu) with a 1.8 m intercept of 5.18 g/t AuEq (1.37 g/t Au, 374.0 g/t Ag, 0.09 % Cu). Several mineralized zones were encountered throughout the DS5 Domain, including 45.0 m grading 1.09 g/t AuEq (1.02 g/t Au, 5.14 g/t Ag, 0.02 % Cu).
- GS-23-168-W1: This hole targeted the deep, northwest portion of the CS-600 Domain. The hole intersected an area classified as Inferred in the previous MRE. Prior to entering the CS-600, a mineralized section of 75.0 m of 1.34 g/t AuEq (1.27 g/t Au, 5.89 g/t Ag, 0.01 % Cu) was cut, and this is interpreted to be the 300H Domain. A long intercept of CS-600 included 296.0 m of 1.11 g/t AuEq (0.65 g/t Au, 5.03 g/t Ag, 0.35 % Cu) with an enriched intercept of 102.0 m grading 1.30 g/t AuEq (0.64 g/t Au, 7.39 g/t Ag, 0.50 % Cu).
- GS-23-166: This hole was not sampled and shutdown early due to excessive drill hole deviation. The hole was wedged and drilled as GS-23-166-W1.
SECTION 120+50NE
- GS-23-169: This hole was drilled outside of the resource area, and at a distance of 160 m northeast of the previous boundary, CS-600 was encountered, with a 190.5 m interval of 0.79 g/t AuEq (0.38 g/t Au, 5.58 g/t Ag, 0.30 % Cu) and an enriched section of 66.0 m grading 1.44 g/t AuEq (0.79 g/t Au, 8.45 g/t Ag, 0.47 % Cu). At depth, the DS5 Domain was intersected at a step-out distance of 300 m to the north from the previously defined resource area. An intercept of 133.5 m grading 0.97 g/t AuEq (0.89 g/t Au, 5.55 g/t Ag, 0.02 % Cu) was reported.
- GS-23-170: This hole was designed to expand the northern extent of the CS-600 Domain. An intercept of 516.0 m grading 1.19 g/t AuEq (0.89 g/t Au, 2.86 g/t Ag, 0.23 % Cu) was encountered. This intercept represents a wider than expected interval of mineralization within the northern aspect of the CS-600 Domain. An enriched section measured 90.0 m grading 2.07 g/t AuEq (1.93 g/t Au, 3.55 g/t Ag, 0.09 % Cu).
Table 1: Drilling Results for Goldstorm Deposit in Press Release August 15, 2023
| Section | Hole | Zone | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu (%) | AuEq (g/t) |
| 117+50NE | GS-22-166 | Hole abandoned, not sampled | |||||||
| 117+50NE | GS-23-166-W1 | CS600 | 430.50 | 583.50 | 153.00 | 0.75 | 14.02 | 0.33 | 1.29 |
| inc. | 559.50 | 561.30 | 1.80 | 1.37 | 374.00 | 0.09 | 5.18 | ||
| DS5 | 784.50 | 856.50 | 72.00 | 0.58 | 2.35 | 0.01 | 0.61 | ||
| and | 940.50 | 985.50 | 45.00 | 1.02 | 5.14 | 0.02 | 1.09 | ||
| and | 1039.50 | 1108.50 | 69.00 | 0.71 | 1.78 | 0 | 0.74 | ||
| 117+50NE | GS-23-168-W1 | 300H | 1.50 | 76.50 | 75.00 | 1.27 | 5.89 | 0.01 | 1.34 |
| CS600 | 912.00 | 1208.00 | 296.00 | 0.65 | 5.03 | 0.35 | 1.11 | ||
| inc. | 933.00 | 985.50 | 52.50 | 0.93 | 3.30 | 0.40 | 1.43 | ||
| inc. | 1098.00 | 1200.00 | 102.00 | 0.64 | 7.39 | 0.50 | 1.30 | ||
| 120+50NE | GS-23-169 | CS600 | 801.00 | 991.50 | 190.50 | 0.38 | 5.58 | 0.30 | 0.79 |
| Inc. | 880.50 | 991.50 | 111.00 | 0.62 | 8.11 | 0.37 | 1.13 | ||
| inc. | 903.00 | 969.00 | 66.00 | 0.79 | 8.45 | 0.47 | 1.44 | ||
| DS5 | 1162.50 | 1296.00 | 133.50 | 0.89 | 5.55 | 0.02 | 0.97 | ||
| inc. | 1162.50 | 1221.00 | 58.50 | 1.27 | 11.18 | 0.03 | 1.41 | ||
| 120+50NE | GS-23-170 | CS600 | 937.50 | 1453.50 | 516.00 | 0.89 | 2.86 | 0.23 | 1.19 |
| inc. | 1005.00 | 1215.00 | 210.00 | 1.23 | 3.17 | 0.18 | 1.48 | ||
| inc. | 1005.00 | 1095.00 | 90.00 | 1.93 | 3.55 | 0.09 | 2.07 | ||
| All 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 1.5m 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 August 15, 2023
| Section | Hole ID | UTM E NAD 83 | UTM N NAD 83 | Elevation (m) | Azi (ᵒ) | Dip (ᵒ) | Depth (m) |
| 120+50NE | GS-23-166 | 428933 | 6273444 | 1398 | 325 | -80 | 558 |
| GS-23-166-W1 | 428910 | 6273472 | 1146 | 314 | -81.5 | 1122 | |
| GS-23-168-W1 | 428583 | 6273554 | 816 | 294 | -57.5 | 1281 | |
| 117+50NE | GS-23-169 | 429030 | 6273666 | 1495 | 335 | -82 | 1335.8 |
| GS-23-170 | 429026 | 6273660 | 1495 | 312 | -74 | 1512 |
Qualified Person
The Qualified Person for this news release for the purposes of National Instrument 43-101 is Tudor Gold’s President and CEO, Ken Konkin, P.Geo. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release. Dino Cremonese, P. Eng., is the Qualified Person for Teuton Resources Corp. and as he is the CEO of Teuton he is not independent of the Company. Although he has not verified the information contained in this release, he has no reason to doubt its accuracy.
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: barry@teuton.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.
