August 24, 2016, Vancouver, BC: Teuton Resources Corp. (“Teuton”) (“TUO”-TSX-V) (“TFE”-Frankfurt) (“TEUTF”—OTCBB) is pleased to announce that a magnetotelluric (“MT”) survey is under way at its Del Norte property, located east of Stewart, BC. Simcoe Geoscience Ltd. has been contracted to manage and interpret the survey using Riaz Mirza, a senior geophysicist, the same person who interpreted MT surveys for Seabridge Gold on their KSM property and for Pretium Resources on their Brucejack property. Simcoe is also managing and interpreting a very recently completed MT survey on Teuton’s joint ventured Treaty Creek property for Tudor Gold and also on Teuton’s farmed-out Orion property, also for Tudor Gold. All properties are within the Golden Triangle region of northwestern British Columbia.
Teuton is running the MT survey on its 100% owned Del Norte property. Recent visual observations of drill core suggest a copper porphyry system may underlie the claims. Holes DN16-03 to 05 inclusive, recently drilled at varying angles from the same pad and with the same azimuth, all intersected extensive intervals containing pyrite and chalcopyrite mineralization. All three holes ended in mineralization. The steepest of the holes was drilled at minus 72 degrees and was stopped at 1338 feet at the limit of the drill. K-feldspar alteration and chalcopyrite content is most prevalent in the deeper sections of the holes. The host appears to be an altered intrusive.
Photographs of selected portions from the core will be made available for viewing on the Company’s website, www.teuton.com, once logging and diamond sawing of the core has been completed. Samples are expected to be shipped to the assay lab within a week.
An MT survey is a geophysical technique that measures fluctuations in naturally occurring electrical and magnetic fields. The most notable example of its successful use in the Golden Triangle has been at Seabridge Gold’s KSM property where it helped to outline much higher-grade “core” zones underlying the Kerr and Iron Cap copper-gold, porphyry deposits.
It is hoped that the MT survey now being used at the Del Norte can help determine both the zonation of the porphyry system and whether any core zone underlies it. It is likely that the recent drilling in Holes DN16-03 to 05 lies on the periphery of such a system. There can be no guarantee that the MT survey will emulate any of the success achieved elsewhere in the Golden Triangle.
- Cremonese, P.Eng., president of Teuton, commented as follows: “Because of the positive visual results from drilling at the second pad at Del Norte, we doubled the drilling allocation at this property. The fact that we are seeing more intense K-feldspar alteration along with increased chalcopyrite at depth is very encouraging. Not many mineralized systems are still open to further extension at almost a thousand feet vertical, so we decided to bring in the MT equipment to help determine whether or not we were onto something big.”
Update on Exploration Progress at the Big Gold, Pearson, Four J’s and Treaty Creek properties
Big Gold property–A drill has been mobilized to Teuton 100%-owned Big Gold property. Drilling will proceed today, testing for subsurface continuations of anomalous gold and silver mineralization disclosed on surface.
Pearson property–Previous geophysical and geochemical data from work done on the Pearson property by former owner Castle Resources has been turned over to Teuton Resources. Kevin Killin, a senior geophysicist with Simcoe Geoscience Ltd. is reviewing the data and will complete a report detailing drill targets by the end of the month. Based on the findings in the report and additional sampling/mapping, it is expected that the property will be ready for drilling by mid-September. The most likely target is the 2km long “North EM Zone” geophysical anomaly previously identified by Castle.
Four J’s property–Rotation Minerals, optionee of Teuton’s Four J’s property, will drill a target lying close to a prominent airborne anomaly within the next two weeks. The agreement between Teuton and Rotation was recently amended to allow more time to carry out work program commitments.
Treaty Creek joint venture property–Drilling has now begun on the Treaty Creek joint venture. Tudor Gold, operator of the joint venture, is reportedly moving a second drill into the property. Teuton holds a 20% carried interest in the joint venture.
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. Ten of its properties are currently under option and cash proceeds from these options have exceeded $1 million in the past twelve months, not including the value of shares received from the optioning companies. Shareholders and other interested parties can access information about Teuton at the Company’s website, www.teuton.com.
The Qualified Person for this news release is D. Cremonese, P.Eng., who, as President and CEO, is not independent of the Company.
Respectfully:
“Dino Cremonese, P.Eng.”
President, Teuton Resources Corp.
For map of Del Norte property: http://teuton.com/wp-content/uploads/2016/08/mtsurveymap.pdf
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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