(TheNewswire)
Vancouver, Canada – TheNewswire - May 10, 2022 – Teuton Resources Corp. (“Teuton”or “the Company”) (TSXV: TUO ) ("TFE"-Frankfurt) has received word from its JointVenture Partner, Tudor Gold Corp., that PhaseOne of the 2022 exploration program (the “ Program ”) on theTreaty Creek property has begun. Phase One is fully funded andconsists of a 30,000 metre (m) diamond drilling campaign that has beendeveloped to systematically test the extension of the GoldstormDeposit well beyond the limits that were outlined in the 2021 MineralResource Estimate ( Teutonpress release dated March 9, 2021 reported a Measured and Indicated Mineral Resource of 19.41million ounces of AuEq grading 0.74 g/t AuEq and an Inferred MineralResource of 7.9 million ounces of AuEq grading 0.79 g/tAuEq). In addition, exploration diamond drillingwill focus on the Calm Before the Storm (CBS) and Eureka zones (EZ). The Treaty Creek property is located in the heart of the GoldenTriangle, adjoining north and along regional strike of SeabridgeGold’s KSM property and Newcrest Mining’s recently acquiredBrucejack (Valley of the Kings) property.
The program is a follow-up to the 2021 explorationdrilling campaign which successfully infilled key areas of the 2021Mineral Resource with reported gold and copper grades that weresignificantly higher than grades outlined in the 2021 Mineral ResourceEstimate. The 2022 exploration program will test the GoldstormSystem for an additional 500 metres along the northeastern axis. (see Goldstorm Phase One Drill Program, Plan Map: URL is at the endof this release). The primary goal of the Program is to expand thesize of the initial mineral resource and to define the limits of themineralized domains.
Three drill rigs have commenced drilling the northernaspects of the Goldstorm Deposit as step-out exploration holes.Additionally, one rig has begun drilling at CBS, continuingexploration of last years’ newly discovered gold-silver systemlocated 2.5 kilometres northeast of the Goldstorm Deposit. Crews are currently mobilizing an additional four drill rigsto site to ‘fast-track’ the exploration and potential continuedexpansion of the Goldstorm Deposit.
Ken Konkin, President and CEO ofTudor Gold , commented as follows: “This year we have planned a very robust drilling campaignthat will focus 80% of the exploration as continued step-out drillingfrom the latest impressive 2021 results obtained from holes GS-21-113,GS-21-113-W1, GS-21-113-W2 and GS-21-119 in the northern sector of theGoldstorm Deposit (Table 1). The remaining 20% of planned holes willinclude Goldstorm resource definition drilling as well as explorationdrill holes for CBS and Eureka gold systems. Our exceptionalstart-up team has done a superb job safely dealing with challengingconditions to mobilize drills and supplies utilizing the BrucejackLake road to access our winter-haul route. We wish to thank NewcrestMining for their assistance in allowing us to share the Brucejackaccess road so we could complete the mobilization of our equipment ina timely and cost-efficient manner. Our Phase Two plans will becontingent on the success of the Phase One drilling; we plan toconcentrate our drilling in the areas that contain the strongestmineralization throughout the 300H, CS-600 and DS-5 domains. We alsoplan to test the hypothesis that the Eureka Zone may be thecontinuation of the DS-5 domain. The Goldstorm Deposit continues toamaze our geological team as it remains open in all directions and todepth with some of the most impressive and strongest gold-coppermineralization obtained late last year within the northern areas ofthis deposit.”
TABLE 1: SUMMARY OF 2021 STEP-OUTDRILL HOLE RESULTS - GOLDSTORM NORTH
Section | Hole | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu ppm | AuEQ (g/t) |
116+50 NE | GS-21-113 | 255.00 | 1227.00 | 972.00 | 0.91 | 3.66 | 2647 | 1.27 |
255.00 | 711.00 | 456.00 | 1.30 | 3.34 | 101 | 1.35 | ||
552.00 | 699.00 | 147.00 | 2.56 | 7.04 | 78 | 2.65 | ||
822.00 | 1227.00 | 405.00 | 0.65 | 4.64 | 6179 | 1.44 | ||
892.50 | 1165.50 | 273.00 | 0.77 | 5.50 | 8436 | 1.83 | ||
117+00 NE | GS-21-113-W1 | 255.00 | 714.00 | 459.00 | 1.26 | 2.82 | 103 | 1.30 |
Includes (300H) | 555.00 | 714.00 | 159.00 | 2.28 | 5.14 | 94 | 2.35 | |
With | 609.00 | 685.50 | 78.00 | 3.97 | 7.71 | 86 | 4.07 | |
117+00 NE | GS-21-113-W2 | 255.00 | 1575.00 | 1320.00 | 0.67 | 3.70 | 2159 | 0.97 |
Includes (300H) | 255.00 | 352.00 | 97.00 | 1.25 | 2.17 | 78 | 1.29 | |
With | 589.50 | 658.50 | 69.00 | 1.80 | 3.61 | 78 | 1.85 | |
And Includes (CS600) | 1018.50 | 1575.00 | 556.50 | 0.73 | 6.27 | 4892 | 1.38 | |
With | 1518.00 | 1575.00 | 57.00 | 1.29 | 17.64 | 7149 | 2.34 | |
116+50 NE | GS-21-119 | 726.00 | 1290.00 | 564.00 | 0.96 | 8.45 | 244 | 1.09 |
861.00 | 1057.50 | 196.50 | 1.62 | 10.31 | 153 | 1.76 | ||
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D. Cremonese, P. Eng., President andCEO of Teuton commented: “This is a very exciting program aimed at testing thecontinuity to depth of the robust copper and gold values reported inlast year’s drilling. The new drills can apparently reach down to2km which is very impressive from a technical standpoint.Magnetotelluric geophysical surveys indicate a major anomaly liesaround this depth, possibly implying an extensive copper-gold porphyrydeposit. As they say, there is only one way to test this hypothesisand that it is to put a drill into it.”
Qualified Person
The Qualified Person for this news release for thepurposes of National Instrument 43-101 is Tudor Gold’s President andCEO, Ken Konkin, P.Geo. Ken Konkin is also a director of Teuton. He has read and approved the scientific and technical informationthat forms the basis for the disclosure contained in this newsrelease.
About Teuton
Teuton owns interests in more than thirty properties inthe prolific “Golden Triangle” area of northwest British Columbiaand was one of the first companies to adopt what has since becomeknown as the “prospect generator” model. It has earnedsubstantial income from option payments in the past 6 years.
Teuton was the original staker of the Treaty Creekproperty, host to the large Goldstorm deposit, assembling the coreland position in 1985. It presently holds a 20% carried interest inTreaty Creek (carried until such time as a production decision ismade) and a 0.98% NSR in the Goldstorm deposit area. Interestedparties can access information about Teuton at the Company’swebsite, www.teuton.com .
URL for Phase One Plan Map: http://teuton.com/GS-PhaseOne2022
On Behal f of the Board of Directors of TeutonResources:
"Dino Cremonese, P.Eng."
Dino Cremonese, P. Eng.,
President and Chief ExecutiveOfficer
For further information, please visit the Company'swebsite at www.teuton.com or contact:
Barry Holmes
Director Corporate Development andCommunications
Tel. 778-430-5680
Email: barry@teuton.com
Neither the TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
Cautionary Statements regardingForward-Looking information
Certain statements contained in this press releaseconstitute forward-looking information. These statements relate tofuture events or future performance. The use of any of the words"could", "intend", "expect","believe", "will", "projected","estimated" and similar expressions and statements relatingto matters that are not historical facts are intended to identifyforward-looking information and are based on the Company's currentbelief or assumptions as to the outcome and timing of such futureevents. Actual future results may differ materially.
All statements relating to future plans, objectivesor expectations of the Company are forward-looking statements thatinvolve various risks and uncertainties. There can be no assurancethat such statements will prove to be accurate and actual results andfuture events could differ materially from those anticipated in suchstatements. Important factors that could cause actual results todiffer materially from the Company's plans or expectations includerisks relating to the actual results of current explorationactivities, fluctuating gold prices, possibility of equipmentbreakdowns and delays, exploration cost overruns, availability ofcapital and financing, general economic, market or businessconditions, regulatory changes, timeliness of government or regulatoryapprovals and other risks detailed herein and from time to time in thefilings made by the Company with securities regulators. The Companyexpressly disclaims any intention or obligation to update or reviseany forward-looking statements whether as a result of new information,future events or otherwise except as otherwise required by applicablesecurities legislation.
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