Teuton Resources Corp. (“Teuton”) (“TUO”) and Silver Grail Resources Ltd. (“Silver Grail”) (“SVG”) are pleased to announce that the second phase of drilling on the Clone gold property, situated 18km southeast of Stewart, BC, is now under way. The next phase of drilling calls for 15 additional holes.
The Clone property is host to at least four separate, parallel gold-bearing shear zones which contain both sulphide-gold-cobalt and iron oxide-gold mineralization. Altogether 20 holes were drilled during the first phase on targets within these shear zones that have been traced for over a kilometer in strike length. In Holes #15 to #20 inclusive, sections from 15 to 30 feet long contain semi-massive to massive hematite, specularite, chlorite, malachite, chalcopyrite and occasionally visible gold. The mineralized zones tend to be associated with more silicified, fine-grained to aphanitic andesites intercalated with pyroclastics.
Canasia Industries Corporation (“CAJ”) can earn a 50% interest in the property from joint owners Silver Grail and Teuton by expending $1.8 million over five years.
TEUTON RESOURCES CORP.
SILVER GRAIL RESOURCES LTD.
If you would like to be added to Silver Grail’s or Teuton’s news distribution list, please send your email address to gary.teuton@shawlink.ca.
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. and Silver Grail Resources Ltd. do have an ongoing obligation to disclose material information, as it becomes available.
The TSX Venture Exchange has neither approved nor disapproved the information contained herein.
