Vancouver, Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TFE”- Frankfurt) and Silver Grail Resources Ltd. (“Silver Grail”) (“SVG”-TSX-V) announce that four holes totalling 1,032m were recently completed on their jointly owned Konkin Silver property, located within BC’s “Golden Triangle”, 35 kilometres east of Stewart, BC. The drill program tested two large, overlapping VTEM and ZTEM geophysical airborne anomalies (see end of release for a URL for property map).
The Konkin Silver property lies south of the Midas and Del Norte properties, the latter currently being drilled for gold-silver mineralization by Teuton’s optionee, Decade Resources. A favourable, volcanic-sediment contact, known to be associated with precious metal mineralization, runs north-south through all three properties. A series of ten large Geotech ZTEM anomalies lies along, or close to, this contact.
Geologist Ed Kruchkowski, P. Geo., described the Konkin Silver drill core as follows: “The drill holes intersected black matrix lapilli tuffs, dacites and fine-grained tuffs in contact with highly graphitic mudstones containing thin, rhythmic beds of pyrite over sections in excess of 50m. The presence of these pyrite beds indicates a possible VMS environment. Pyrite beds formed up to 15-20 % of the intersected sequences. Within the dacite fragments in the black matrix tuffs, minor sphalerite and pyrite is noted. Indications are that the drill holes may be in close proximity to volcanic vent areas. Core logging indicated that the holes tested rocks located at the same stratigraphic sequence hosting the Eskay Creek deposit.”
Photographs of various portions of the drill core can be seen here: http://teuton.com/Konkinsilvercore. In Hole 21-03, a 64.45m section from 338.24 to 402.69m contains from 3 to 25% pyrite within a sequence of intercalated graphitic mudstones and dacites.
D. Cremonese, P. Eng., President and CEO of Teuton and Silver Grail, commented as follows: “Past work on the Konkin Silver has been directed at replacement-style silver mineralization. The new 2021 exploration program is directed at VMS (Volcanogenic Massive Sulphide) mineralization and since we are in the same stratigraphic horizon as the Eskay Creek deposits, our target is precious metal-rich, Eskay Creek type mineralization. Because of all of the float boulders discovered earlier this year below the steep slopes overlooking the 2021 drill pads—most of them containing graphitic mudstones with up to 25% pyrite—we can infer that this area is the locus of a very large mineralizing event (further supported by the intersections seen in drill core and also by the strength and areal size of the ZTEM and VTEM anomalies). Some of the float boulders contain wisps of a green mineral thought to be scorodite and you can also see minor sphalerite in the dacites (in core), indicating that there are other minerals in the mix beside pyrite. We are really looking forward to the assays and getting back to the property in 2022. We are also looking forward to testing many of the other Geotech airborne ZTEM anomalies in the Midas and Konkin Silver properties, as results from the current drilling have successfully explained the strong geophysical responses seen in target ”A-9”.
Drill core samples are sent to 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 Teuton 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.
Drilling for the season is now over for the Konkin Silver property. Although visual indications in the core are very encouraging and management would have liked to continue, drilling further holes was precluded by ongoing problems with the new drill supplied by the contractor. Drilling on the next project, the Eskay Rift, now has been postponed until the 2022 field season.
D. Cremonese, P.Eng., is the Qualified Person for Teuton Resources Corp.; as President of the Company he is not independent.
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. Teuton earned $3.9 million net income in 2020 and a further $2.4 million in the first quarter of 2021. Its income is derived from option payments.
Teuton was the 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 Treaty Creek (carried until such time as a production decision is made). Interested parties can access information about Teuton at the Company’s website, www.teuton.com.
About Silver Grail
Silver Grail owns interests in over 12 mineral properties in the southern portion of the Golden Triangle, all located within 35km of the town of Stewart, BC. Many of these properties contain veins or shear zones hosting significant amounts of silver mineralization, others like the Clone property contain gold. In addition, the Company also owns interests in three other properties in British Columbia containing cobalt mineralization. At this time, the most prospective of these is the Pacifico on northern Vancouver Island which has some of the most anomalous cobalt stream geochemistry in the province.
Map of Konkin Silver property: http://teuton.com/ksilverpropertymap
Note: Because of steep terrain, the actual 2021 drillsite is about 125m to the south of where indicated on the map.
Respectfully submitted,
“Dino Cremonese, P.Eng.”
Dino Cremonese, P. Eng.,
President and Chief Executive Officer,
Teuton Resources Corp.
Silver Grail Resources Ltd.
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.
