The Treaty Creek property is located within the Golden Triangle region of northwestern British Columbia, in the northern portion of the prolific Sulphurets Hydrothermal System (“SHS”)—host to Pretium Resource’s producing, high-grade Valley of the Kings gold mine. The SHS also covers Seabridge Gold’s extensive KSM property which contains the largest reserves in the world of copper-gold mineralization in four giant deposits, the Iron Cap, Mitchell, Sulphurets and Kerr; Seabridge Gold recently added to its gold resources by purchasing the large Snowfield gold deposit lying just to east of the Mitchell on Pretium’s property. The entire SHS area is marked by kilometers of bright yellow, orange and red zones of alteration (gossans) which can be seen from miles away.
The Goldstorm zone on the Treaty Creek property has been explored for the past five years and is beginning to show signs that it has the potential to rival the size and grade of other mega-porphyry gold deposits in the SHS. In 2020, Tudor Gold, operator of the Treaty Creek joint venture, drilled 44,000m with up to six diamond drills. The current known length of the northeast axis of the Goldstorm System is over 1,150m and the southeast axis is at least 600m across. The system remains open in all directions and to depth. [Interested readers can review the history of drilling of the Goldstorm by referencing News Releases regarding Treaty Creek elsewhere in the website].
Ownership of Treaty Creek
Tudor Gold Corp. (“TUD”) owns a 60% interest in Treaty Creek and is the Operator of the project. It Is responsible for paying all costs associated with exploration up until such time as the property has a positive feasibility decision. To Sept. 30, 2020, Tudor Gold has spent more than $31 million on the property.
Teuton Resources (“TUO”) is the original owner of Treaty Creek. It now holds a 20% carried interest in the property, meaning it does not have to pay for exploration costs until such time as a production decision is made. It also holds a royalty interest of 0.98% in the core portion of the property (which cover the Goldstorm zone) and a 0.49% royalty interest in the peripheral claims, neither of which are subject to a buy back. American Creek Resources (“AMK”) owns the remaining 20% carried interest in the property.
Well-known Canadian mining financier, Eric Sprott, has taken down large private placements in Tudor Gold as well as in the remaining two joint venture partners, Teuton Resources and American Creek. His last private placement into Teuton was carried out in July of 2020 and consisted of 3 million shares at $3/share without a warrant. Mr. Sprott now owns % in Teuton and % partially diluted (upon exercise of warrants).
Treaty Creek was found by prospectors Knipple and Williams in 1928. There is some speculation that they originally spotted it from the air and afterwards made the 70 mile trek into the property from Stewart along trails and traplines. Knipple and Williams then interested C.M. & S. Co. (Cominco) in the discovery which, on the basis of the strong alteration noted in the surrounding rocks, surveyed 57 Crown-granted mineral claims. Some gold and copper was apparently discovered (there are no assay records of this early work) but Cominco eventually dropped the property. Knipple and Williams returned to the property in the 1950’s and are reported to have discovered some high-grade silver-bearing float on the glacier as well as a narrow tetrahedrite-bearing vein in place. Thereafter the property lay dormant until the large, central gossan was staked by “Big Ed” Kruchkowski in the early 1980’s. In 1983, Dino Cremonese purchased this central Treaty Claim from Kruchkowski and subsequently staked a large tract of ground, including the claims which today host the Goldstorm deposit for Teuton Resources.
From 1985 to 2015, Treaty Creek was explored by Teuton and five separate optionees (Tantalus Resources, Homestake Mining, Global Explorations, Heritage Explorations and American Creek Resources). Around $9 million was spent during this period resulting in the discovery of multiple zones of precious metal mineralizaton. In 2016, Teuton and co-owner American Creek (“AMK”), optioned the property to Walter Storm’s vehicle, Tudor Gold, under terms whereby both Teuton and AMK retained 20% carried interests each, while Tudor Gold held the remaining 60% interest. Tudor Gold will be responsible for all exploration expenditures until such time as a production decision is made. Teuton also retains a 0.98% NSR in the core claims of the Treaty Creek property as well as 0.49% NSR in the surrounding claims.
Goldstorm Zone Flyover
Teuton Invests $9.6 Million Into Tudor Gold, Joint Venture Partner at Treaty Creek Project, Golden Triangle, British Columbia
APRIL 28, 2021 – Victoria, BC –– Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TFE”- Frankfurt) has entered into a private placement with its joint venture partner, Tudor Gold Corp., subscribing for 1,000,000 flow-through common shares (the “FT Shares”) at a price of $3.60 per FT Share and 2,000,000 non-flow-through common...
Teuton’s Joint Venture Partner Tudor Gold Files NI 43-101 Technical Report for the Initial Mineral Resource Estimate at Treaty Creek Project, Golden Triangle, BC
Vancouver, Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TFE”- Frankfurt) has been informed that its joint venture partner, Tudor Gold Corp., has filed a Technical Report (the “Report”), which includes the Initial Mineral Resource Estimate for the Goldstorm and Copper Belle Zones at the Treaty Creek Project...
Teuton’s Joint Venture Partner Tudor Gold Reports Initial Mineral Resource Estimate at Treaty Creek: 19.4 Million Ounces of 0.74 gpt AuEq of Measured and Indicated Mineral Resources and 7.9 Million Ounces of 0.79 gpt AuEq of Inferred Mineral Resources
Vancouver, Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TFE”- Frankfurt) has received a report from its joint venture partner Tudor Gold containing the Initial Mineral Resource Estimate for the Goldstorm and Copper Belle Zones at their flagship property, Treaty Creek. The Property is located within the heart...