Vancouver, Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TFE”- Frankfurt) is pleased to report that Project Operator and Joint Venture (“JV”) partner Tudor Gold (“Tudor”) has announced a strategic plan for the upcoming year centered on the Treaty Creek gold and copper project, located in the Golden Triangle of British Columbia.
Key Objectives of the Strategic Plan
Over the next 12 months, Tudor Gold expects to complete the following objectives:
- Continue the ongoing exploration and definition drilling program in Q3 2024 and report on results;
- Advance the metallurgical program and provide the results of this test work in 2024;
- Proceed with preliminary permitting and environmental requirements; and,
- Complete a Preliminary Economic Assessment by Q2 2025.
Drilling Update
On May 9, 2024, Tudor Gold initiated a 10,000-meter (m) diamond drilling program at the Goldstorm Deposit, with the primary goal of expanding and upgrading the Mineral Resource Estimate released early this year (April 8, 2024 news release). To date, approximately 4,000 m of drilling, including two drill holes, have been completed on schedule. The first hole GS-24-181 intersected fine to medium-grained visible native gold at 810.5 m. It is believed that this mineralization could be associated to the 300N mineral domain and possibly represents a series of parallel high-grade structures similar to Supercell One (SC-1). Click on the following link to view a photo of the core.
The current drilling program is concentrated on step-out and in-fill drilling within the high-grade SC-1 system, a gold-dominant, quartz-sulfide, breccia-hosted structural corridor. This system remains open to the northwest, north, and east. Tudor Gold plans to further explore this higher-grade zone with continued drilling. Results from the recently completed drill holes will be shared as soon as assay data is received.
- Hole GS-23-176-W1: 15.00 m @ 15.64 grams/tonne (g/t) gold equivalent (AuEQ) (14.89 g/t gold (Au), 4.72 g/t silver (Ag), 0.60% copper (Cu))
- Hole GS-22-134: 25.50 m @ 9.96 g/t AuEQ (9.66 g/t Au, 1.23 g/t Ag, 0.24% Cu)
- Including 4.50 m @ 20.86 g/t AuEQ (20.61 g/t Au, 1.50 g/t Ag, 0.20% Cu)
- Hole GS-23-179: 12.00 m @ 10.07 g/t AuEQ (9.78 g/t Au, 1.35 g/t Ag, 0.23% Cu)
Click the following links to view the corresponding SC-1 plan view map and drill sections.
Metallurgical Studies on the Goldstorm Deposit
The Company is confident that further metallurgical testing will continue to improve on the Goldstorm Deposit. Previously, flotation testing demonstrated that the CS-600 domain can produce a quality copper concentrate with significant quantities of gold.
The ongoing phase of metallurgical test work on the Goldstorm Deposit is progressing well and is focused on improving the outcomes achieved in the previously reported program conducted by Blue Coast Research Ltd. (BCR), under the supervision of Tad Crowie, P. Eng of JDS Energy & Mining Inc. This phase of testing is expected to provide information to be used in a Preliminary Economic Assessment and includes comminution, follow up flotation tests, alternate forms of oxidation, and leaching tests to recover copper and gold.
Preliminary Economic Assessment and Environmental Studies
The initiation of a Preliminary Economic Assessment (PEA) for Treaty Creek’s Goldstorm Deposit is expected to begin in the next quarter, with Tudor Gold aiming to complete this study by Q2 2025. The PEA is anticipated to detail a phased production strategy focusing on exploiting high-grade areas or supercells of the Goldstorm Deposit to maximize the internal rate of return (IRR). To ensure accuracy of the PEA, Tudor Gold will continue to optimize the project and develop a comprehensive strategy to facilitate the permitting process for implementing the best mining methods and phased production strategy. Efforts will also be made to define precise cost estimates to ensure that projected capital expenditures align with prefeasibility study standards, strengthening the project’s economic viability and credibility. Additionally, the PEA is expected to establish work programs to guide Tudor Gold towards subsequent stages, including a detailed prefeasibility study to be completed in the future.
Continued environmental studies are being conducted to assist in the economic evaluation and permitting process for the Treaty Creek Project.
Quality Assurance and Control
Ken Konkin, P.Geo, President and CEO, Tudor Gold, is the Qualified Person, as defined by National Instrument 43-101, responsible for the Treaty Creek Project (Under the terms of the Joint Venture, Tudor Gold is solely responsible for funding and carrying out work at Treaty Creek until such time as a production decision is made). Mr. Konkin has reviewed, verified, and approved the scientific and technical information in the Tudor Gold news release dated June 18, 2024. Technical information as presented in this news release by Teuton Resources is consistent with that published in the Tudor Gold release of June 18, 2024.
About Treaty Creek
Teuton was the original staker of the Treaty Creek property, host to the large Goldstorm deposit, assembling the core land position in 1985. It presently holds a 20% carried interest in the Treaty Creek Project (Tudor Gold is responsible for paying all exploration costs up until such time as a production decision is made and owns a 60% interest; American Creek Resources owns the remaining 20% interest, also carried). Additionally, Teuton owns a 0.98% Net Smelter Royalty in the Goldstorm deposit area as well as in the northern portion of the Perfectstorm zone; within the southern portion of the Perfectstorm zone, Teuton owns a 0.49% NSR with an option to increase that to 1.49% by paying $1 million to the current owner. It also owns numerous additional royalty interests within the Sulphurets Hydrothermal system on formerly 100%-owned properties such as the King Tut, Tuck, High North, Orion, Delta and Fairweather properties (King Tut and Tuck now owned by Newmont Mining; High North, Orion, Delta and Fairweather properties now owned by Goldstorm Metals).
The Treaty Creek Project contains the Goldstorm Deposit (a large gold-copper porphyry system) as well as several other mineralized zones
About Teuton
Teuton owns interests in more than thirty properties in the prolific “Golden Triangle” area of northwest British Columbia and was one of the first companies to adopt what has since become known as the “prospect generator” model. This model minimizes share equity dilution while at the same time maximizing opportunity. Earnings provided from option payments received, both in cash and in shares of the optionee companies over the past 8 years, has provided Teuton with substantial income.
On Behalf of the Board of Directors of Teuton Resources:
“Dino Cremonese, P.Eng.”
Dino Cremonese, P. Eng.,
President and Chief Executive Officer
For further information, please visit the Company’s website at www.teuton.com or contact:
Barry Holmes
Director Corporate Development and Communications
Tel. 778-430-5680
Email: bholmesmba@gmail.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements regarding Forward-Looking information
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially.
All statements relating to future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
