(TheNewswire)
May 8, 2023 – TheNewswire - Victoria , Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (TSXV:TUO) (Frankfurt:TFE) announces that it has received a report from itsJoint Venture Partner Tudor Gold Corp. (“Tudor Gold”) stating that drilling has commenced at the Treaty CreekProject, located in the Golden Triangle of Northwest British Columbia.
The fully funded program consists of a minimum 25,000metre (m) diamond drilling campaign that has been developed to targetthe north and northeast mineral extensions of the Goldstorm Depositwhere drilling in 2021 and 2022 intercepted the highest grades ofgold, copper and silver mineralization at Treaty Creek to date. These results contributed to a significantly upgraded MineralResource Estimate recently announced by Teuton in a news release datedMarch 15, 2023 which reported an Indicated Mineral Resource of 23.37 million ounces (Moz) ofgold equivalent (AuEQ) grading 1.13 g/t AuEQ andan Inferred Mineral Resource of 7.35 Moz of AuEQ grading 0.98 g/t AuEQ .
In addition to the northern step-out drilling at theGoldstorm Deposit, Tudor Gold plans to carry out exploration drillingat the Perfectstorm Zone (“PSZ”) to follow up on six drill holesthat were drilled in 2020 and 2021 which all intercepted gold andsilver mineralization, highlighted by hole PS-21-06 which returned 118m of 0.66 g/t gold, 3.69 g/t silver including 31.5 m of 0.84 g/t gold,6.09 g/t silver. PSZ is a gold-dominant mineralized system measuring1.3 kilometers (km) in strike length and is located approximately 2.5km southwest of the Goldstorm Deposit and approximately 2.5 kmnortheast of Seabridge Gold’s Iron Cap Deposit near the southwesternboundary of the Treaty Claim block.
Ken Konkin, President and CEO ofTudor Gold , commented: “Congratulations to ourfield crews for yet again another safe and successful start-uputilizing our winter road route. We thank our good neighbours to thesouth at Brucejack Lake, Newcrest Mining, for all their assistanceduring the process. We plan to pick-up the drilling where we left offat the end of 2022. We will concentrate on pushing out the resource inthe areas of highest grades throughout the 300H, CS-600 and DS-5domains with four drill rigs. Two are currently drilling the northernaspects of these domains with another two rigs expected to arrive onsite by mid May. In addition, we plan to attack the PerfectstormSystem. Based on favorable drill results from 2020 and 2021 as well asthe reconnaissance surface Geochem from 2023, we plan on putting twodrill rigs on this target by late June. With four deep-drill rigs atthe Goldstorm Deposit we hope to continue to add high-quality goldounces to our current resource model as well as discover favorableAu-Cu-Ag mineralization at the Perfectstorm system. All core will betransported to our Bitter Creek core shack near Stewart, BC forlogging and sampling. This facility enables us to give core toursthroughout the entire year including winter months.”
QualifiedPerson
The Qualified Person for this news release for thepurposes of National Instrument 43-101 – Standards of Disclosure forMineral Projects (“NI 43-101”) is Tudor Gold’s President andCEO, Ken Konkin, P.Geo. He has read and approved the scientific andtechnical information that forms the basis for the disclosurecontained in this news release. DinoCremonese, P. Eng., is the Qualified Person for Teuton Resources;although he has not independently verified the technical informationcontained in this news release, he has no reason to believe it is notreliable; as President and CEO of Teuton, he is not independent of theCompany.
About TreatyCreek
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 inthe Treaty Creek Project (Tudor Gold is responsible for paying allexploration costs up until such time as a production decision is made and owns a 60% interest; American CreekResources owns the remaining 20% interest, also carried). Additionally, Teuton owns a 0.98% Net Smelter Royalty in theGoldstorm deposit area. It also owns numerous additional royaltyinterests within the Sulphurets Hydrothermal system on properties suchas the King Tut, Tuck, High North, Orion, Delta and Fairweatherproperties.
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. This model minimizesshare equity dilution while at the same time maximizing opportunity. Earnings provided from option payments (received in cash and oftenalso in shares of the optionee companies), have provided substantialincome to Teuton.
Interested parties can access information about Teutonat the Company’s website, www.teuton.com .
Respectfully submitted,
"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
Corporate Development and Communications
Tel. 778-430-5680
Email: bholmesmba@gmail.com
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
CautionaryStatements regarding Forward-Looking information
Certain statementscontained in this press release constitute forward-lookinginformation. These statements relate to future events or futureperformance. The use of any of the words "could","intend", "expect", "believe","will", "projected", "estimated" andsimilar expressions and statements relating to matters that are nothistorical facts are intended to identify forward-looking informationand are based on the Company's current belief or assumptions as to theoutcome and timing of such future events. Actual future results maydiffer materially.
All statementsrelating to future plans, objectives or expectations of the Companyare forward-looking statements that involve various risks anduncertainties. There can be no assurance that such statements willprove to be accurate and actual results and future events could differmaterially from those anticipated in such statements. Importantfactors that could cause actual results to differ materially from theCompany's plans or expectations include risks relating to the actualresults of current exploration activities, fluctuating gold prices,possibility of equipment breakdowns and delays, exploration costoverruns, availability of capital and financing, general economic,market or business conditions, regulatory changes, timeliness ofgovernment or regulatory approvals and other risks detailed herein andfrom time to time in the filings made by the Company with securitiesregulators. The Company expressly disclaims any intention orobligation to update or revise any forward-looking statements whetheras a result of new information, future events or otherwise except asotherwise required by applicable securities legislation.
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