Vancouver, Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TFE”- Frankfurt) has received assays from its Joint Venture partner, Tudor Gold Corp. (“Tudor Gold”), in respect of the fifth set of drill results from the 2023 work program at the Treaty Creek property. Treaty Creek is located in the heart of the Golden Triangle of northwestern British Columbia, adjoining and on geological trend with Seabridge Gold’s KSM property and Newmont Mining’s Brucejack property.
Tudor Gold has safely and successfully completed the 2023 drilling program with a total of 31,904 meters (m) drilled within areas encompassing the Goldstorm Deposit and the Perfectstorm Zone. The assay results reported in this release are from two drill holes that targeted the northeastern area of the Goldstorm Deposit and two holes that targeted the northeastern area of the Perfectstorm Zone. [Click to view plan map and sections: http://teuton.com/TreatyFigures1123]
Ken Konkin, President and CEO of Tudor Gold, commented: “We are extremely pleased to announce the continued expansion of our Goldstorm Deposit to the northeast. GS-23-179, a 200-meter step-out hole, has greatly enlarged the mineralized envelope. As predicted, the CS-600 system remains very robust with surprisingly high gold values in the upper portion of the domain. Although the gold-copper-silver mineralization remains consistent over very wide intercepts that yield compelling composites such as 525 m of 1.01 g/t AuEQ in hole GS-23-179, higher grade mineralization is well concentrated within core sections. The upper portion of this 525 m interval contains an enriched section that is believed to be part of a consistent quartz stockwork system that can be traced for hundreds of meters between drill holes. This system has yielded an intercept of 10.07 g/t AuEq over 12.0 m within the uppermost portion of the 223.5 m of 1.42 g/t AuEq interval, which is part of a much longer 525 m intercept that averaged 1.01 g/t AuEQ. Notably, this 12-meter-long, high-grade gold intercept within GS-23-179 is located over 300 m northeast from a similar gold-bearing stockwork intercept encountered in GS-23-134, which reported 9.96 g/t AuEq over 25.5 m, including an enriched portion of 20.86 g/t AuEq over 4.5 m (see Press Release July 19, 2022). Further drilling is required to confirm the orientation and extent of this newly discovered stockwork zone. Our technical team believes this auriferous stockwork veinlet system is a late-stage event that overprints the CS-600 Domain. In addition, drill hole GS-23-175 intersected the DS5 Domain on the same northeastern-most section of the Goldstorm Deposit (see Section A). In this hole the upper enriched gold zone of the DS5 domain contained 160.5 m of 1.24 g/t AuEq within 241.5 m of 1.11 g/t AuEq. The lower DS5 domain contained 81.0 m of 1.17 g/t AuEq within 162.0 m of 1.01 g/t AuEq. Unfortunately, this hole could not be completed due to poor ground conditions and was terminated in strong gold mineralization. The Goldstorm Deposit remains open in all directions an at depth.
To top it all off, we had success at the Perfectstorm Zone as well. Two drill holes intersected the northeastern-most known limit of the Perfectstorm system. The stronger results from the deeper drill hole PS-23-14 on this section suggest that gold-copper-silver mineralization is gaining strength in the northwest direction. This hole intersected a porphyritic intrusive with 0.91 g/t AuEq over 40.5 m within 139.5 m of 0.51 g/t AuEQ. The Perfectstorm system has now been drill-traced for over 1,700 m by wide-spaced holes along the northeastern axis. The best results to-date came from the opposite end of the system in the southwestern drill hole PS-23-10, which contained 1.28 g/t AuEq over 102.15 m (see Press Release October 31, 2023). Clearly, further drilling is required in the southwestern sector of the Perfectstorm target, and beyond.”
Section A
- GS-23-175: Drilled as a 200 m step-out to the northeast of the DS5 domain, this hole returning two wide intervals, including 241.5 m grading 1.11 g/t AuEq (1.07 g/t Au, 3.16 g/t Ag, 0.01 % Cu) and 162.0 m grading 1.01 g/t AuEq (0.96 g/t Au, 3.92 g/t Ag, 0.01 % Cu).
- GS-23-179: Drilled as a 200 m step-out to the northeast of the CS-600 Domain. This hole returned an impressive intercept of 525.0 m of 1.01 g/t AuEq (0.85 g/t Au, 1.94 g/t Ag, 0.13 % Cu) which included a higher-grade interval of 223.5 m of 1.42 g/t AuEq (1.16 g/t Au, 2.25 g/t Ag, 0.19 % Cu) that includes 43.5 m of 3.73 g/t AuEq (3.52 g/t Au, 2.18 g/t Ag, 0.16 % Cu) and 12.0 m of 10.07 g/t AuEq (9.78 g/t Au, 1.35 g/t Ag, 0.23 % Cu).
Section B
- PS-23-13: Drilled as a 200 m step-out from the previous northeastern-most hole at PSZ. This hole intersected three separate mineralized vein zones, one of which returned 41.50 m grading 0.50 g/t AuEq (0.41 g/t Au, 4.87 g/t Ag and 0.04 % Cu) that included 17.5 m of 0.72 G/t AuEq (0.59 g/t Au, 4.64 g/t Ag and 0.07 % Cu).
- PS-23-14:Drilled on the same section below hole PS-23-13, hole PS-23-14 encountered four separate intervals of appreciable mineralization, including 40.50 m grading 0.91 g/t AuEq (0.82 g/t Au, 2.60 g/t Ag and 0.06 % Cu) with a higher-grade interval of 1.50 m grading 9.26 g/t AuEq (9.17 g/t Au, 5.35 g/t Ag and 0.03 % Cu).
Table 1: Drilling Results for Goldstorm Deposit and Prefectstorm Zone in Press Release November 21, 2023
| Section | Hole | Zone | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu (%) | AuEq (g/t) |
| A | GS-23-175 | DS5 | 763.00 | 1004.50 | 241.50 | 1.07 | 3.16 | 0.01 | 1.11 |
| including | 767.50 | 928.00 | 160.50 | 1.19 | 3.58 | 0.01 | 1.24 | ||
| and | 1142.50 | 1304.50 | 162.00 | 0.96 | 3.92 | 0.01 | 1.01 | ||
| including | 1142.50 | 1223.50 | 81.00 | 1.10 | 6.26 | 0.01 | 1.17 | ||
| A | GS-23-179 | CS600+DS5 | 1041.00 | 1566.00 | 525.00 | 0.85 | 1.94 | 0.13 | 1.01 |
| CS600 | 1119.00 | 1342.50 | 223.50 | 1.16 | 2.25 | 0.19 | 1.42 | ||
| including | 1119.00 | 1162.50 | 43.50 | 3.52 | 2.18 | 0.16 | 3.73 | ||
| and | 1129.50 | 1141.50 | 12.00 | 9.78 | 1.35 | 0.23 | 10.07 | ||
| CS600+DS5 | 1404.00 | 1489.50 | 85.50 | 0.97 | 2.72 | 0.05 | 1.06 | ||
| B | PS-23-13 | NE | 8.00 | 11.00 | 3.00 | 0.99 | 0.86 | 0 | 1.00 |
| 172.00 | 179.50 | 7.50 | 0.56 | 2.58 | 0.03 | 0.62 | |||
| 223.50 | 265.00 | 41.50 | 0.41 | 4.87 | 0.04 | 0.50 | |||
| 223.50 | 241.00 | 17.50 | 0.59 | 4.64 | 0.07 | 0.72 | |||
| B | PS-23-14 | NE | 5.00 | 39.50 | 34.50 | 0.69 | 1.03 | 0.01 | 0.72 |
| 125.00 | 126.50 | 1.50 | 4.99 | 7.29 | 0.03 | 5.10 | |||
| 248.00 | 387.50 | 139.50 | 0.43 | 4.95 | 0.03 | 0.51 | |||
| 248.00 | 288.50 | 40.50 | 0.82 | 2.60 | 0.06 | 0.91 | |||
| 287.00 | 288.50 | 1.50 | 9.17 | 5.35 | 0.03 | 9.26 | |||
| 380.00 | 387.50 | 7.50 | 0.97 | 54.00 | 0.15 | 1.68 | |||
| Hole was terminated prior to reaching target depth All assay values are uncut and intervals reflect drilled intercept lengths. HQ and NQ2 diameter core samples were sawn in half and typically sampled at standard 1.5 m intervals. The following metal prices were used to calculate the Au Eq metal content: Gold $1800/oz, Ag: $20/oz, Cu: $3.5/lb. Calculations used the formula AuEq = Au g/t + (Ag g/t*0.0098765) + (Cu ppm*0.0001185). All metals are reported in USD and calculations consider recoveries of 90 % for gold, 80 % for copper, and 80 % for silver. True widths have not been determined as the mineralized body remains open in all directions. Further drilling is required to determine the mineralized body orientation and true widths. | |||||||||
Table 2: Drill data for holes in Press Release November 21, 2023
| Section | Hole ID | UTM E NAD 83 | UTM N NAD 83 | Elevation (m) | Azi (ᵒ) | Dip (ᵒ) | Depth (m) |
| A | GS-23-175 | 429357 | 6273557 | 1225 | 275 | -75 | 1309 |
| A | GS-23-179 | 429030 | 6273666 | 1495 | 333 | -68 | 1617 |
| B | PS-23-13 | 427466 | 6271186 | 1487 | 295 | -88 | 371 |
| B | PS-23-14 | 427466 | 6271186 | 1487 | 295 | -60 | 506 |
Qualified Person
The Qualified Person for this news release for the purposes of National Instrument 43-101 is Tudor Gold’s President and CEO, Ken Konkin, P.Geo. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release. D. Cremonese, P. Eng., is the Qualified Person for Teuton Resources Corp. (as President of the Company he is not independent of the Company). Mr. Cremonese has not personally verified the technical data in the news release but has no reason to doubt its accuracy.
QA/QC
Diamond drill core samples were prepared at MSA Labs’ Preparation Laboratory in Terrace, BC and assayed at MSA Labs’ Geochemical Laboratory in Langley, BC. Analytical accuracy and precision are monitored by the submission of blanks, certified standards and duplicate samples inserted at regular intervals into the sample stream by Tudor Gold personnel. MSA Laboratories quality system complies with the requirements for the International Standards ISO 17025 and ISO 9001. MSA Labs is independent of the Company.
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. As disclosed in the March 2023 News Release, the Goldstorm Deposit has an Indicated Mineral Resource (as defined in NI 43-101) of 23.37 Moz of AuEq grading 1.13 g/t AuEq (18.75 Moz gold grading 0.91 g/t, 2.18 Blbs copper grading 0.15 %, 112.4 Moz silver grading 5.45 g/t) and an Inferred Mineral Resource (as defined in NI 43-101) of 7.35 Moz of AuEq grading 0.98 g/t AuEq (5.54 Moz gold grading 0.74 g/t, 0.85 Blb copper grading 0.16 %, 45.08 Moz silver grading 5.99 g/t), with a pit constrained cut-off of 0.5 g/t AuEq and an underground cut-off of 0.7 g/t AuEq. The Goldstorm Deposit has been categorized into three dominant mineral domains and several smaller mineral domains. The CS-600 domain largely consists of an intermediate intrusive stock and hosts the majority of the copper mineralization within the Goldstorm Deposit. CS-600 has an Indicated Mineral Resource of 9.86 Moz AuEq grading 1.10 g/t AuEq (6.22 Moz gold grading 0.70 g/t, 1.98 Blbs copper grading 0.32 %, 51.1 Moz silver grading 5.71 g/t) and an Inferred Mineral Resource of 3.71 Moz AuEq grading 1.19 g/t AuEq (2.32 Moz gold grading 0.75 g/t, 0.76 Blb copper grading 0.36 %, 18.71 Moz silver grading 6.01 g/t). The Goldstorm Deposit remains open in all directions and requires further exploration drilling to determine the size and extent of the deposit.
1 AuEq = Au g/t + (Ag g/t*0.0098765) + (Cu ppm*0.0001185)
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 6 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.
