March 26, 2019, Vancouver, BC: Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX–V) (“TUC”- Frankfurt) is pleased to announce the results of a Geotech ZTEM survey flown over several Teuton properties situated along the drainages of Nelson, Del Norte and Willoughby Creeks, 30 km east of Stewart, BC in the Golden Triangle. Geotech’s comprehensive, 47 page report identified multiple targets over Teuton’s Del Norte, Horatio, Midas, Konkin Silver and Lord Nelson properties. [Target areas can be seen in four figures, the URLs for which are found at the end of this news release.]
The interpretation report–which considered a variety of factors including resistivity (using 3D Inversion which created a subsurface model to a depth of 2,000m), magnetic signature, fault analysis, structural complexity heat maps (intersection density and orientation diversity), geology and previous exploration history—resulted in the definition of ten targets contained wholly within property boundaries. Several of these targets also overlap previous EM anomalies identified by a 2005 AeroTem geophysical survey.
These targets fall into two classes: the first type, the “A” series, is potentially associated with mesothermal gold and silver mineralization; the second, the “P” series, with porphyry/stockwork bodies. Five of the “A” gold targets are within the Del Norte property, two within the Midas property, two within the Konkin Silver property and one within the Lord Nelson property (the latter property is under option to ArcWest Exploration).
Dino Cremonese, P.Eng., President of Teuton Resources Corp., commented as follows: “The Geotech ZTEM survey and subsequent interpretation report has led to a new understanding of the gold, and gold-copper potential of the Del Norte and surrounding properties. This particular section of the Golden Triangle has long intrigued prospectors because of the abundance of placer gold in its streams. Where is this gold coming from? We hope to find out this summer as we follow up the most important targets with deep-seeking, ground geophysical surveys to pinpoint set-ups for diamond drilling.”
Two known gold and silver structures explored on the Del Norte property between 2002 and 2005—the LG Vein and K Zone—are directly linked to the “A2” target. The 3D Inversion suggests that the hydrothermal alteration associated with the LG vein persists to a depth of 1,000m and the most intense portion of the resistivity anomaly begins at 200m depth [please refer to the second and third figures listed at the end of this release]. The center of this low resistivity anomaly lies to the northeast of the LG vein, coinciding with an intense EM anomaly discovered during a 2005 airborne AerotTem survey. Most of the previous drilling done on the LG Vein was to depths below 150m and none of these holes tested the EM anomaly.
The K zone, discovered in 2002, is situated at the southern end of the “A2” target and was trenched that year at 10m grading 13.54 g/t Au eq.*. Three holes into the zone encountered good gold and silver values averaging 31.1m of 5.83 g/t Au eq., 32.9m of 6.69 g/t Au eq. and 23.4m of 10.90 g/t Au eq. (true widths have not been determined). The zone is unusual and unlike the LG Vein lies wholly within sediments. It is a quartz-carbonate-sulfide cemented breccia containing pyrite, sphalerite, galena, tetrahedrite and electrum. No further work has been done on this prospect since 2002 due to its limited surface exposure. The “A3” and “A5” targets lie to the south of the K zone along trend and are also entirely within sediments. Minor prospecting in 2006-7 in this area uncovered a number of vein occurrences including the K-Dog which returned good gold and silver values but there was no follow up
*Au eq. is calculated from gold and silver values, with silver at 1/85 the value of gold.
On the Midas property, another gold target, the “A6”, is associated with 2006-7 drilling conducted on the 3 Oz Vein [please refer to the 4th figure at the end of this release]. A section of three of the 2005 holes in conjunction with a resistivity profile created by Geotech’s 3D Inversion process suggests that this drilling (as well as other holes) occurred just outside of the low resistivity anomaly.
Also to be examined are the three “P” porphyry areas indicated by the Geotech survey. The largest of these, the “P1”, straddles the border between the Horatio and Del Norte properties, both 100% owned by Teuton. Because the center of this target is at high elevation and surrounded by steep slopes, no work has been done on it to date. This area was designated for additional examination by geologists working for Teuton in the early 1990’s, but at that time the claims covering the “P1” were owned by another company.
The Horatio showing which lies in steep ground at the boundary of this circular target features massive sulfide float carrying high values in gold (up to 3.46 oz/ton or 118.6 g/t) and abundant sphalerite. Minor prospecting identified some lensoidal mineralization in place and also a vein occurrence higher up the hill which ran over 5 oz/ton gold (171.4 g/t). Follow up work has been limited but the new Geotech information suggests much more work needs to be done in this area.
The “P2” target is on the Midas property (owned 75% by Teuton and 50% by Silver Grail) and the “P3” anomaly on the Konkin Silver (owned 50% by Teuton and 50% by Silver Grail). Neither area has been previously investigated by Teuton personnel. The contact between Triassic and Jurassic age rocks, known as “Kyba’s red line”, passes in close proximity to all of the “P” anomalies. Jeff Kyba, formerly a geologist for the BC Ministry of Mines, has proposed a theory that states, among other considerations, that proximity to this contact is favourable for the discovery of large-scale porphyry deposits. Mr. Kyba is now in private practice and is Vice President of Exploration for ArcWest Exploration, optionee of Teuton’s Lord Nelson property
Geotech has said of the “P3”: “This porphyry target is located in the south-western part of the block and consists of a resistive core surrounded by a more conductive ring. The target is of less than 1 km in size. It has typical geophysical signature to many known porphyry deposits of western BC such as Mt-Milligan (Oldenburg et al., 1997) and Babine Lake and Morrison (Witherly and Sattel, 2007).”
- Cremonese, P.Eng., further commented: “Worthy of mention is that in the past thirty years since the Del Norte and surrounding properties were first staked, ice and snowfields have melted back considerably exposing many new rock outcrops. Del Norte will be an important property for Teuton this summer but there is also quite a bit of enthusiasm for upcoming work on some of our premier optioned-out properties such as the Treaty Creek where millions will be spent drilling the promising new Goldstorm zone. Teuton expects to be fully financed for the 2019 work on the Del Norte from ongoing payments to be made from 11 of its property option agreements, cash and shares from which have bolstered the Company treasury enough so that it has not required a private placement since 2015.”
QP– The Qualified Person for this news release is Dino Cremonese, P.Eng., who as President of Teuton is not independent of the Company.
About Teuton
Teuton owns interests in more than thirty properties in the prolific “Golden Triangle” area of northwestern British Columbia and was one of the first companies to adopt what has since become known as the “prospect generator” model. Eleven of its properties are currently under option and cash proceeds from these options are just under $2 million since 2015, not including the value of shares received from the optioning companies. The Company’s share portfolio includes 2.2 million shares of Tudor Gold, operator of the Treaty Creek property..
Shareholders and other interested parties can access information about Teuton at the Company’s website, www.teuton.com.
URL for Figures:
http://teuton.com/wp-content/uploads/2019/03/1-Target-Map.pdf
http://teuton.com/wp-content/uploads/2019/03/2-A2-ZTEM-EM.pdf
http://teuton.com/wp-content/uploads/2019/03/3-A2-Drill-Results.pdf
http://teuton.com/wp-content/uploads/2019/03/4-A6-Target.pdf
Respectfully:
“Dino Cremonese, P.Eng.”
President, Teuton Resources Corp.
For more information contact Investor Relations at 778-430-5680 or barry@teuton.com
If you would like to be added to Teuton’s news distribution list, please send your email address to dino@teuton.com
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. Teuton Resources Corp. does have an ongoing obligation to disclose material information, as it becomes available.
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