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 complete.
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 15 closely-spaced holes were drilled in the second phase, testing undrilled portions of the “H-1” zone between Trenches 4, 14 and 15. Six of the fifteen holes contained visible gold in sections.
Core logging is under way and two loads of samples from the second phase have been already been sent to the assay lab. Samples from the first phase have all been sent in. The laboratory has recently informed Teuton and Silver Grail that additional time will be necessary to re-check some of the high gold numbers obtained during the first phase.
Canasia Industries Corporation is paying for the program and can earn a 50% interest in the property from joint owners Silver Grail and Teuton by expending $1.8 million over five years.
E.R. Kruchkowski, P. Geol., is the Qualified Person for the Clone project and has read and authorized this news release. Pioneer Laboratories of Richmond, BC, an accredited facility, is performing the analyses
“Dino Cremonese, P.Eng.”
President
TEUTON RESOURCES CORP.
SILVER GRAIL RESOURCES LTD.
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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.
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