(TheNewswire)
January 18, 2022 – TheNewswire - Vancouver, Canada –– Teuton ResourcesCorp. (“Teuton” or “the Company”) (TSXV:TUO) (OTC:TEUTF) (Frankfurt:TFE) hasreceived the remaining assays for the last 8 drill holes from the 2021program on the Company’s Del Norte property,located 34 km east of Stewart in BC’s“Golden Triangle”.
Drilling tested the contact offelsic volcanic rocks of the Hazelton Group and sedimentary rocks ofthe Salmon River Formation, the same horizon that hosts the EskayCreek mine 60km north of Stewart. Drilling was from platforms locatedon rock islands (nunataks) sited within the South Nelson Glacier. The2021 drilling was successful in testing for extensions of 2020gold-silver drill hole intersections on the Argo/LG zone.
Highlights of drilling into the Argo zoneinclude:
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60.5 g/t gold and 660 g/t silver over3.60m in DDH-21-12
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11.7 g/t gold and 3,074 g/t silverover 2.29m in DDH-21-15
Decade Resources reports that the Del Norte propertycontains numerous mineralized zones. The two most importantmineralization events are associated with quartz veins and brecciaswhich are spatially restricted to felsic packages and the footwallcontact of thrust zones as well as porphyry copper-gold. In the areaof thrusting, quartz veins and breccia include the Argo/LG Vein/LG Extension Zone,Kosciuszko Zone/ SP, Eagle’s Nest, and New . The Argo/LG Vein/LG Extension Zone has been traced over 1.2km whilethe New zone was observed over 100m of strike in a high mountain passbetween 2 ice fields. The Kosciuszko/SPzone has been traced over 1.2kmas well while the Eagle’s Nest zone has been traced over 400m.Theseare marked by a distinct alteration halo, with a propylitic zoneconstituting the outer envelope of the mineralization. Galena,sphalerite, pyrite and minor chalcopyrite and tetrahedrite are commonin these quartz veins.
Decade currently holds the property under option fromTeuton Resources. It can earn a 55% interest in the Del Norte byspending $4 milllion in exploration over a five year period, Decademust also pay $400,000 in cash to Teuton, issue 800,000 shares uponsigning (paid) and issue a further $180,000 worth of sharesthereafter. After earning its 55% interest, Decade has a furtheroption to expand its interest to 75% by taking the property tofeasibility.
A tabulation of the drill results can be found in theaccompanying table:
Table: Drill Results from last 8holes of 2021 Del Norte Program
HOLE # | From (m) | To (m) | Width (m) | Copper % | Lead % | Zinc % | Silver g/t | Gold g/t | Gold equivalent g/t |
#11 | 107.93 | 112.96 | 5.031 | 0.018 | 0.13 | 0.11 | 86.61 | 0.005 | 1.22 |
#12 | 210.98 | 217.99 | 7.01 | 0.09 | 0.74 | 0.90 | 391.27 | 31.56 | 37.50 |
#13 | 282.23 | 290.85 | 8.63 | 0.004 | 0.87 | 1.01 | 84.08 | 0.72 | 2.76 |
#14 | 187.04 | 191.46 | 4.12 | 0.05 | 0.81 | 0.36 | 321.37 | 0.008 | 4.72 |
#15 | 152.44 | 163.41 | 10.98 | 0.19 | 1.68 | 2.05 | 1,039.95 | 3.43 | 18.61 |
#16 | 132.62 | 136.69 | 3.96 | 0.07 | 1.15 | 1.21 | 167.0 | 1.511 | 4.94 |
and | 146.34 | 148.78 | 2.44 | 0.02 | 0.32 | 0.45 | 113.47 | 0.03 | 1.90 |
and | 176.83 | 177.20 | 0.37 | 0.08 | 0.197 | 0.39 | 561.0 | 7.78 | 15.32 |
#17 | 179.27 | 185.37 | 6.1 | 0.08 | 0.73 | 0.76 | 360.0 | 0.003 | 5.44 |
and. | 191.46 | 200.61 | 9.15 | 0.13 | 1.38 | 1.11 | 530.67 | 6.87 | 14.0 |
#18 | 121.34 | 130.70 | 9.36 | 0.02 | 0.15 | 0.17 | 79.82 | 0.013 | |
and | 173.17 | 174.42 | 1.25 | 0.024 | 0.089 | 0.10 | 114.0 | 0.14 | 1.57 |
Analytical values have been rounded. True widths are unknown at this time.
*Gold-equivalent values for gold, silver and basemetals, calculated assuming 100% metal recovery. Assumptions: US$23.46/oz silver, US$1818.15/oz gold:, copper .43/ lb. lead 1.08/lb. and zinc 1.62/lb.
Ed Kruchkowski, President of the Decade Resourcescommented as follows: “ TheCompany was very successful in outlining additional numerous silverrich and gold-silver areas for further exploration along the Argo/LGsystem. Our drilling was restricted to available rock islands but withthe recession of glacial ice, these will have become bigger for theupcoming 2022 program. The newly identified Argo zone will be one ofthe exploration targets in 2022. The 2021 program tested the zone overa strike length of 1.2 km and 300 m of depth. The surface expressionof the zone occurs below glacial ice to the east of the pads. In 2022,the Company plans to test the deep porphyry copper-gold as well as SPzone along the Kosciuszko structure provided it can raise the funds.Our plan is to earn the 55% interest this year.”
Analysis were performed by MSA Laboratories Ltd inLangley, BC.
Ed Kruchkowski, P.Geo. , a qualified person under NationalInstrument 43-101 for Decade Resources is responsible for the contentsof this release. D. Cremonese, P. Eng., is the Qualified Person forTeuton Resources Corp. He has not independently verified the assayresults but has no reason to believe they are inaccurate. Mr.Cremonese, as President of Teuton, is not independent of the Company.
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. Ten of these propertiesare currently under option to third parties. Over $4 million inoption cash payments (not including appreciable payments made inshares) has been generated from these properties since 2015, includingproperties where optionees have already earned their interest.
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
Director Corporate Development andCommunications
Tel. 778-430-5680
Email: barry@teuton.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.
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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