(TheNewswire)
Vancouver, Canada – TheNewswire – November 16, 2021 –– Teuton Resources Corp. (“Teuton” or “the Company”) (TSXV: TUO ) (OTC:TEUTF) (Frankfurt: TFE ) announces that its optionee, DecadeResources (“Decade”) , hasreported assays from the first 10 of 16 holes drilled in 2021o n the Del Norte property,located 34 km east of Stewart in BC’s“Golden Triangle”.
The object of the program was to test a stratigraphichorizon--the contact between felsic volcanicrocks of the Hazelton Group and sedimentary rocks of the Salmon RiverFormation, two rock units which also host the Eskay Creek mine 60kmnorth of Stewart. Mineralization is located within a pyrite-rich,graphitic black mudstone horizon within black matrix lapilli tuffswith sub-intervals of dacite lapilli tuffs. Fracturing and faultingwithin this unit has resulted in the deposition of quartz andsulphides. The faulting has resulted in black graphitic gouge, crushedsulphides and quartz fragments. Mineralization includes pyrite,sphalerite, galena and tetrahedrite along with visible gold andsilver.
Holes from #9 to #16 carried the best visualconcentrations of native gold, native silver and acanthite (asreported in releases dated Aug. 18, Aug. 26 and Sept. 21, 2021). These observations are now supported by assays with results from #9and #10 reported below (#11 to #16 are awaited):
HOLE # | From(m) | To (m) | Width (m) | Gold g/t | Silver g/t | Gold equivalent | Silver Equivalent |
#9 | 231.4 | 246.6 | 15.24 | 2.22 | 312.5 | 6.44 | 476.8 |
Incl. | 231.4 | 232.9 | 3.66 | 0.92 | 221.6 | 3.91 | 289.7 |
Incl. | 242.4 | 246.6 | 4.27 | 7.13 | 911.0 | 19.44 | 1,438.6 |
Incl. | 242.4 | 243.6 | 1.22 | 15.27 | 951.0 | 28.12 | 2,081.0 |
#10 | 222.6 | 232.47 | 9.91 | 4.28 | 1,091.6 | 19.03 | 1,408.3 |
Incl. | 225.3 | 228.35 | 3.05 | 13.77 | 2,661.0 | 49.73 | 3680.0 |
Analytical values have been rounded. True widths are unknown at this time.
*Silver-equivalent values for goldand silver only (no base metals), calculated assuming 100% metalrecovery. Assumptions: US$/oz silver, US$/oz gold: 1:74 ratio.
D. Cremonese, P. Eng., President and CEO of Teuton,commented as follows: “These gold-silver numbers are among thebest received to date from the Argo/LG structure on the Del Norteproperty. Based on visuals, I expect similar or better assays fromthe remaining holes. It appears that Decade Resources’sgeological team, headed by Ed Kruchkowski, is beginning to understandthe controls for the precious metal mineralization.”
Ed Kruchkowski, P. Geo., President of Decade Resourcesmade the following comment: “[Decade] was very successful inoutlining additional numerous silver-rich areas for furtherexploration along the Argo/LG system. Ourdrilling was restricted to available rock islands but with therecession of glacial ice, these will have become bigger for the upcoming 2022 program. The newly identified Argo zone will be theprimary focus of exploration in 2022.”
Assays from some of the first eight holes drilled in2021 are presented below:
HOLE # | From(m) | To (m) | Width (m) | Gold g/t | Silver g/t | Gold equivalent | |
# 1 | 152.65 | 153.05 | 0.4 | 2.17 | 82.49 | 3.28 | 243.0 |
and | 175.1 | 180.49 | 4.57 | 0.07 | 150.2 | 2.10 | 155.4 |
#3 | 125.61 | 128.66 | 3.05 | 0.26 | 77.48 | 1.31 | 96.7 |
#4 | 151.71 | 159.15 | 7.44 | 0.87 | 261.28 | 4.40 | 325.7 |
#6 | 135.82 | 141.46 | 5.64 | 2.61 | 367.4 | 7.57 | 560.5 |
#8 | 216.16 | 216.92 | 0.76 | 0.2 | 150 | 2.23 | 164.8 |
and | 249.7 | 261.89 | 12.2 | 0.22 | 178.55 | 2.23 | 194.8 |
Analytical values have been rounded. True widths are unknown at this time.
*Silver-equivalent values for goldand silver only (no base metals), calculated assuming 100% metalrecovery. Assumptions: US$/oz silver, US$/oz gold: 1:74 ratio.
Analyses were performed by MSA Laboratories Ltd inLangley, BC. The Del Norte property wasoptioned from Teuton Resource Corp. in January of 2020 with termsallowing Decade to earn up to a 55% interest in the property byspending $4 million over a five year period. Decade can earn anadditional 20% interest by carrying the property to commercialproduction.
D. Cremonese, P.Eng., is the Qualified Person forTeuton Resources Corp.; as President of the Company he is notindependent. Although Mr. Cremonese has not personally verified theaccuracy of the technical information provided by Decade in the newsrelease, he has no reason to believe it is inaccurate.
About Teuton
Teuton owns interests in more than thirty properties inthe prolific Golden Triangle area of northwest British Columbia andwas one of the first companies to adopt what has since become known asthe “prospect generator” model. Teuton earned $3.9 million netincome in 2020 and a further $2.4 million in the first quarter of2021. Its income is derived from option payments.
Teuton was the staker of the Treaty Creek property,host to the large Goldstorm deposit, assembling the core land positionin 1985. It presently holds a 20% carried interest in Treaty Creek(carried until such time as a production decision is made) and a 0.98%NSR in the Goldstorm deposit. Interested parties can accessinformation about Teuton at 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.
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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