(TheNewswire)
April 18, 2023 – TheNewswire - Victoria , Canada – Teuton Resources Corp. (“Teuton” or “the Company”) (TSXV: TUO ) (Frankfurt: TFE ) announces that ithas received from its Joint Venture Partner Tudor Gold Corp. (“TudorGold”) a report stating that crews have beenmobilized in preparation for the upcoming 2023 exploration program atthe Treaty Creek Project, located in the Golden Triangle of NorthwestBritish Columbia. Crews are now transporting heavy equipment anddrilling supplies to the Treaty Creek site along the winter accessfrom the nearby Brucejack Mine Access Road and preparing the camps forthe upcoming 2023 exploration campaign, which is anticipated tocommence in early May.
The 2023 exploration program is anticipated to becomprised of a drill hole program totalling a minimum of 20,000 metersat the Goldstorm Deposit and will target the north and northeastmineral extensions where the 2021 and 2022 drill hole programsintercepted gold, copper and silver mineralization. These resultscontributed to a significantly upgraded Mineral Resource Estimaterecently announced by the Company in a newsrelease dated March 15, 2023, which reportedan Indicated Mineral Resource of 23.37 million ounces (Moz) of gold equivalent (AuEQ) grading 1.13g/t AuEQ and an Inferred Mineral Resourceof 7.35 Moz of AuEQ grading0.98 g/t AuEQ .
D. Cremonese, P. Eng., President of Teuton commented asfollows: “It’s gratifying to see such a large program beginningearly in the year at Treaty Creek. Total expenditures are now justunder $100 million, a number which is sure to be passed during the2023 season. I am particularly hopeful about the continued drilltesting of the copper-gold rich CS-600 domain within the Goldstormsystem.”
In addition to the drilling at the Goldstorm Deposit,Tudor Gold, as Operator of the Treaty Creek Joint Venture, plans tocarry out exploration drilling at the Perfectstorm Zone(“ PSZ ”) to follow up on six drill holes that were drilled in2020 and 2021 which all intercepted gold and silver mineralization,highlighted by hole PS-21-06 which returned 118 meters of 0.66 g/t gold, 3.69 g/tsilver and 31.5 meters of 0.84 g/t gold, 6.09 g/t silver . PSZ is a gold-dominant mineralized system measuring 1.3kilometers in strike length and is located approximately 2.5kilometers southwest of the Goldstorm Deposit and approximately 2.5 kilometers northeast from SeabridgeGold’s Iron Cap Deposit near the southwestern boundary of the TreatyClaim block.
Tudor Gold also announces that it has engaged TadCrowie (P. Eng.) and JDS Energy and Mining to oversee metallurgicaltesting on the Goldstorm Deposit, which currently involves an expandedpreliminary testing program performed by Blue Coast Metallurgy Ltd.Preliminary metallurgical testing reported to date by Tudor Gold hasonly been carried out on a small area of the 300 Horizon domain. Theexpanded metallurgical study is anticipated to include broad testingof the CS-600 and DS5 domains and specifically includes material thatwas drilled in the 2021 and 2022 drill campaigns. Tests will also beexpanded on the 300H and Copper Belle domains to better understand thepotential for metallurgical variability across the Goldstorm Deposit.Outcomes of metallurgical testing are expected to be announced oncethe results have been received and interpreted by Tudor Gold.
QualifiedPerson
The Qualified Person for this news release for thepurposes of National Instrument 43-101 – Standards of Disclosure for MineralProjects (“ NI 43-101 ”) isTudor Gold’s President and CEO, Ken Konkin, P.Geo. He has read and approved the scientific and technicalinformation that forms the basis for the disclosure contained in thisnews release. Dino Cremonese, P. Eng., is the Qualified Person forTeuton Resources; although he has not independently verified thetechnical information contained in this news release, he has no reasonto believe it is inaccurate; as President and CEO of Teuton, he isnot independent of the Company.
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 madeand owns a 60% interest; American Creek Resources owns the remaining20% interest, also carried). Additionally, Teuton owns a 0.98% NetSmelter Royalty in the Goldstorm deposit area. It also owns numerousadditional royalty interests within the Sulphurets Hydrothermal systemon properties such as the King Tut, Tuck, High North, Orion, Delta andFairweather properties.
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 asto the outcome and timing of such future events. Actual future resultsmay differ 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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