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 sixth 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 (the Deposit) and the Perfectstorm Zone. The assay results reported in this release are from three drill holes that targeted the northeastern area of the Deposit however, only two were successfully completed: GS-23-176-W1 and GS-23-177. Drill hole GS-23-176 was terminated due to unfavorable deviation and was re-drilled as wedge hole GS-23-176-W1 which did reach the intended target area. The Goldstorm Deposit remains open in all directions and at depth. Click to view plan map and cross sections.
Ken Konkin, President and CEO of Tudor Gold, commented: “We are very pleased to announce the continuing expansion and definition of the Goldstorm domains in the northeastern sector of the Deposit. Three of the largest mineralized domains, including 300H, CS-600 and DS5, reported excellent results from these latest drill holes. The highlight of the 2023 program is the remarkable continuation of higher grades of gold, copper and silver throughout the northern aspect of the Goldstorm Deposit. One of the best-looking mineralized areas of the Deposit to date is the lower CS-600 domain within GS-23-176-W1, which returned 273.75 m of 2.19 g/t AuEq (1.98 g/t Au, 3.30 g/t Ag, 0.15 % Cu) that includes an enriched central core that averaged 3.51 g/t AuEq (3.23 g/t Au, 5.57 g/t Ag, 0.19 % Cu) over 123.0 m. An interval of higher-than-average gold values was intersected near the end of GS-23-176-W1 that was associated with narrow quartz veinlets with minor disseminated pyrite; this is interpreted to be part of the DS5 domain, which may extend to greater depths than previously thought. If possible, we may extend this hole during the 2024 drill program to determine if there is a continuation to the lower 27 meters of mineralization that averaged 2.41 g/t AuEQ near the bottom of this hole.
“The most significant aspect of GS-23-176-W1 may be the 15.0 m of 15.64 g/t AuEq (14.89 g/t Au, 4.72 g/t Ag, 0.60 % Cu) that occurs at the core of the richest portion of the CS-600 domain. This enriched quartz stockwork in the lower part of CS-600 is a comparable-looking zone to the high-grade gold interval encountered within the CS-600 in GS-22-134, located 135 m to the west. GS-22-134 intersected 25.5 m of 9.96 g/t AuEq (see Press Release dated July 19, 2023). This may be related to a later mineralizing event that over-prints the CS-600 copper-gold porphyry mineralization with a discrete high-grade gold-dominant quartz stockwork system. Our technical team is examining the hypothesis that we may have an independent high-grade system that cuts both 300H and CS-600 domains. Including the high-grade interval, the overall larger composite of the CS-600 domain totaling601.5 m of 1.40 g/t AuEq is comparable to that of GS-21-113-W2 which had a composite of 732.m of 1.60 g/t AuEq (see press release dated August 11, 2022). These two intercepts could now significantly contribute to the Indicated Mineral Resource for the next Mineral Resource update, which will benefit from the increased drilling density provided by this program.
“Equally impressive were the results from GS-23-177 where an enriched core of the 300H domain yielded 82.5 m of 1.92 g/t AuEq within 311.5 m of 1.04 g/t AuEq in the upper portion of that hole. Additionally, the composite for the CS-600 domain comprised yet another long intercept of 517.5 m that averaged 1.01 g/t AuEq, which included an enriched core that averaged 1.53 g/t AuEq (0.92 g/t Au, 5.80 g/t Ag, 0.46 % Cu) over 124.5 m. Near the lower contact of the CS-600 domain, another enriched zone was intersected that yielded 19.50 m of 5.70 g/t AuEq (5.41 g/t Au, 1.09 g/t Ag, 0.24% Cu). The results from these two sections will add to the overall quantity of gold, silver and copper in the Indicated and Inferred categories of the next mineral resource update.”
Section A
- GS-23-176: Was drilled to target deep CS-600 domain mineralization, outside the current Mineral Resource area. The hole intersected 114.10 m grading 1.01 g/t AuEq (0.80 g/t Au, 8.10 g/t Ag, 0.10 % Cu) including 61.60 m grading 1.32 g/t AuEq (1.01 g/t Au, 12.36 g/t Ag, 0.16 % Cu). The hole was stopped due to unfavorable deflection, and drilling was continued with a daughter wedge hole, GS-23-176-W1.
- GS-23-176-W1: This hole successfully intersected the CS-600 domain with 601.5 m of 1.40 g/t AuEq (1.23 g/t Au, 2.93 g/t Ag, 0.12 % Cu) which included a higher-grade interval of 273.75 m of 2.19 g/t AuEq (1.98 g/t Au, 3.30 g/t Ag, 0.15 % Cu) that also included 123.0 m of 3.51 g/t AuEq (3.23 g/t Au, 5.57 g/t Ag, 0.19 % Cu) and 15.0 m of 15.64 g/t AuEq (14.89 g/t Au, 4.72 g/t Ag, 0.60 % Cu). Below the CS-600 domain,an interval of 27.0 m grading 2.41 g/t AuEq (2.36 g/t Au, 3.91 g/t Ag, 0.01 % Cu) was intersected and is interpreted to be associated with the DS5 domain.
Section B
- GS-23-177: This hole was drilled to increase the drilling density in the CS-600 domain where the current Mineral Resource Estimate is categorized as Inferred mineral resources. The hole intersected mineralization associated with the 300H domain that consisted of 311.5 m grading 1.04 g/t AuEq (0.99 g/t Au, 4.06 g/t Ag and 0.01 % Cu) and included 82.5 m of 1.92 g/t AuEq (1.84 g/t Au, 6.72 g/t Ag and 0.01 % Cu).
The CS-600 domain was intersected with 100.50 m grading 0.71 g/t AuEq (0.54 g/t Au, 1.42 g/t Ag, 0.13 % Cu), followed by 517.5 m grading 1.01 g/t AuEq (0.71 g/t Au, 2.35 g/t Ag, 0.23 % Cu), including an enriched core of 124.5 m grading 1.53 g/t AuEq (0.92 g/t Au, 5.80 g/t Ag, 0.46 % Cu), and including an enriched lower zone of 19.5 m grading 5.70 g/t AuEq (5.41 g/t Au, 1.09 g/t Ag, 0.24% Cu).
Table 1: Drilling Results for Goldstorm Deposit in Press Release November 28, 2023
| Section | Hole | Zone | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu (%) | AuEq (g/t) |
| A | GS-23-1761 | CS 600 | 970.50 | 1084.60 | 114.10 | 0.80 | 8.10 | 0.10 | 1.01 |
| including | 1023.00 | 1084.60 | 61.60 | 1.01 | 12.36 | 0.16 | 1.32 | ||
| GS-23-176-W1 | CS 600 | 67.50 | 669.00 | 601.50 | 1.23 | 2.93 | 0.12 | 1.40 | |
| including | 390.75 | 664.50 | 273.75 | 1.98 | 3.30 | 0.15 | 2.19 | ||
| including | 441.00 | 564.00 | 123.00 | 3.23 | 5.57 | 0.19 | 3.51 | ||
| including | 451.50 | 466.50 | 15.00 | 14.89 | 4.72 | 0.60 | 15.64 | ||
| and inc. | 522.00 | 564.00 | 42.00 | 2.49 | 10.02 | 0.12 | 2.74 | ||
| DS5 | 814.50 | 841.50 | 27.00 | 2.36 | 3.91 | 0.01 | 2.41 | ||
| B | GS-23-177 | 300H | 383.00 | 694.50 | 311.50 | 0.99 | 4.06 | 0.01 | 1.04 |
| including | 553.50 | 636.00 | 82.50 | 1.84 | 6.72 | 0.01 | 1.92 | ||
| including | 588.50 | 636.00 | 48.00 | 2.35 | 9.30 | 0.01 | 2.44 | ||
| CS 600 | 1033.50 | 1134.00 | 100.50 | 0.54 | 1.42 | 0.13 | 0.71 | ||
| CS 600 | 1186.50 | 1209.00 | 22.50 | 0.26 | 2.60 | 0.70 | 1.12 | ||
| CS 600 | 1242.00 | 1759.50 | 517.50 | 0.71 | 2.35 | 0.23 | 1.01 | ||
| including | 1395.00 | 1519.50 | 124.50 | 0.92 | 5.80 | 0.46 | 1.53 | ||
| including | 1414.50 | 1441.50 | 27.00 | 1.04 | 4.91 | 1.07 | 2.35 | ||
| and inc. | 1717.50 | 1737.00 | 19.50 | 5.41 | 1.09 | 0.24 | 5.70 | ||
| 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 28, 2023
| Section | Hole ID | UTM E NAD 83 | UTM N NAD 83 | Elevation (m) | Azi (ᵒ) | Dip (ᵒ) | Depth (m) |
| A | GS-23-176 | 429026 | 6273660 | 1495 | 318 | -68 | 1084.6 |
| GS-23-176-W1 | 428833 | 6273915 | 651 | 333 | -68 | 864.0 | |
| B | GS-23-177 | 428933 | 6273444 | 1398 | 307 | -60 | 1980.0 |
Orion Property—Discovery of Copernicus Zone
Teuton Resources optioned its Orion property to Tudor Gold in 2016. The option was completed four years later and Tudor Gold earned a 100% interest in the property, subject to a retained 2.5% NSR in favour of Teuton. Tudor Gold subsequently spun-out the Orion and other properties to Goldstorm Metals which was listed on the TSX-V in late 2022.
Goldstorm Metal’s news release of Nov. 27, 2023, reporting on work carried out during the field season, stated: “Within the Orion area, exploration efforts specifically targeted a new zone, known as the Copernicus, along the upper Orion Spine. The gossanous area spans a 200-m-wide by 800-m-long concentration of sulphide mineralization containing copper, silver, zinc, and cobalt. Within this zone, 229 samples were collected, including a 0.25 m chip sample (A0519298) that yielded 0.67 g/t gold, 320.0 g/t silver, 11.96 % copper, 0.088 % cobalt, and 0.55 % zinc, as well as a 0.5 m saw-cut channel sample (OR-23-01) that yielded 0.28 g/t gold, 226.0 g/t silver, 6.95 % copper, 0.079 % cobalt, and 0.37 % zinc. A continuous channel sample line, comprised of six samples (OR-23-02), averaged 0.14 g/t gold, 57.0 g/t silver, 1.71 % copper, 0.015 % cobalt, and 0.15 % zinc over 5.15 meters.”
Ken Konkin, P.Geo., President and CEO of Goldstorm Metals commented: “Mineralization and textures observed at the Copernicus Zone closely resemble those found in volcanogenic massive sulphide (VMS) deposits such as the Granduc and Windy Craggy deposits, which are classified as Besshi-type VMS systems, with a comparable metallogenic assemblage to that at the Copernicus Zone. However, it is very early in the exploration phase and further mapping and sampling will be required to make final determinations on the characterization of the precious and base-metal mineralization at our new discovery. Additional geological observations suggest that this mineralization may also have been re-mobilized and deposited along northerly tectonic shear systems parallel to the orientation of the Orion Spine. The Copernicus Zone was traced for approximately 400 m along the upper Orion Spine. The Company has constructed a drill pad to initiate a drill program as part of the 2024 exploration program on the Copernicus Zone. Details of the proposed drilling will be determined prior to the 2024 drilling season.”
D. Cremonese, P. Eng., President of Teuton said: “Today’s Treaty Creek drill results are outstanding, a very pleasant surprise from some of the last holes of the season. A further bonus for Teuton is the reported discovery of Besshi-type, VMS mineralization at the Orion; this is important not only because of Teuton’s 2.5% Net Smelter Return royalty (which is not encumbered by a buyback provision), but because it suggests potential for discovery of similar VMS mineralization within the 15km long span situated between the formerly producing Granduc mine and the Orion property. Teuton owns most of the ground in this trend, including properties such as the Leduc Silver, Pearson, Big Gold, Eskay Rift, Tennyson and Four J’s, many of which have sizeable geophsycial anomalies on them, none of them which yet been drill-tested.“
Qualified Person
The Qualified Person for this news release for the purposes of National Instrument 43-101 is Tudor Gold’s and Goldstorm’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 and field 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)
Qualified Person
The Qualified Person for this news release for the purposes of National Instrument 43-101 is Tudor Gold and Goldstorm Metal President and CEO, Ken Konkin, P.Geo. 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
All samples were prepared at MSA Labs’ Preparation Laboratory in Terrace, BC and assayed at MSA Labs’ Geochemical Laboratory in Langley, BC. Gold was assayed using a fire assay with atomic absorption (AA) spectrometry finish. Samples over 10 ppm gold were fire assayed with gravimetric finish. All samples were analyzed by four acid digestion with multi-element ICP-MS, with silver and base metal over-limits being reanalyzed by emission spectrometry. 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 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.
