(TheNewswire)
August 3, 2021 - TheNewswire - Vancouver, Canada – TeutonResources Corp. (“Teuton” or “the Company”) ( TSXV: TUO) (Frankfurt: FTE ) (OTC:TEUTF) and Silver Grail Resources Ltd.( TSXV: SVG) (OTC: SVGAF) report that drilling has begun on theirMidas property (Teuton – 75%, Silver Grail – 25%) situated 27 kmeast of Stewart, BC in the Golden Triangle, due south of Teuton’sDel Norte property currently under option to Decade Resources. The first hole is testing, at depth, a strong ZTEM anomaly, the“A-6”, detected during a 2018 airborne geophysical survey flown byGeotech. The southern portion of the anomaly lies within theMidas property, the northern portion is on the Del Norte; a rhyolitedome is exposed on surface within the northern portion.
Midas Property
The Company is using a heavy-duty drill with capacityto penetrate 1,000 metres under contract from BC Diamond Drilling. Yellowhead Helicopters is providing air support.
Geotech’s geophysicists had this to say about the A-6target: “ It is stretchingroughly in the NS direction over a distance of ? 1.5 km and connectsthe 3Oz Vein and the Rhyolite Dome showing. It has an estimatedresistivity of < 50 ohm-m at depth of 300m, coincides with a strongAerotem conductor and occurs within a zone of magnetic low. It isaffected by a NW striking fault and occurs within a zone of complexstructural pattern. It may represent a link to a tension faultgenerated by the NW striking fault system .”
The drill is currently at 500+ m depth. It hasintersected a series of felsic volcanic and volcanoclastic rocksincluding peperite with a section of rhyolitic flows and or tuffs. Inone core interval, very fine-grained pyrite appears to be associatedwith thin exhalite layers. Drilling is expected to continue to 700 m.Core is brought to the Teuton core storage facilities on a daily basiswhere it is being logged and processed. The Teuton geologists willdetermine intervals to cut with blanks and standards inserted in thesample stream for quality assurance.
Konkin Silver Property
The Konkin Silver property adjoins due south of theMidas and is 50% owned by Teuton and 50% by Silver Grail. Silver-bearing mineralization has been discovered in a number ofshowings throughout the property in past exploration programs.
The aim here is to test at depth a strong ZTEM anomaly,the “A-9”, discovered during a 2018 Geotech survey. The A-9surrounds two, large VTEM anomalies detected during an earlier surveycompleted in 2005 (see Map, URL at end of the News Release). Neither of the anomalies has been previously drill-tested.
Geotech summarized the A-9 target as follows:“ It lies within theHazelton Group volcanics and appears to be structurally controlled bya NNW striking fault. It is stretching roughly in the NNW directionover a distance of ? 2 km along an inferred fault zone. It has anestimated resistivity value of < 30 ohm-m at depth of 300m andcoincides with a strong Aerotem conductor.”
The drillpad is collared within the Salmon RiverFormation in an area marked by carbonaceous mudstones. Discretegossanous zones are in evidence west, east, north and southeast of thedrillsite. Drilling will begin at Konkin Silver as soon asdrilling on the Midas is complete.
Dino Cremonese, P. Eng., Teuton’sPresident, states: “In 2021, our plan is totest a number of targets generated by airborne surveys flown in 2005and 2018. In the Del Norte-Midas-Konkin Silver corridor, past exploration suggests potential for VMSmineralization with particular sections having a geological settingwhich is somewhat analogous to that in and around the Eskay Creekdeposit (rhyolite breccias, peperitic dacites, carbonaceousmudstones). After we have finished in this part of the GoldenTriangle, we plan to move to the Eskay Rift property in the FrankMackie glacier area (wholly owned by Teuton Resources) and drillvarious ZTEM targets there. “
QA/QC
Drill core samples will be sent to MSA Labs'Preparation Laboratory in Terrace, BC and will be assayed at MSALabs' Geochemical Laboratory in Langley, BC. Analytical accuracy andprecision are monitored by the submission of blanks, certifiedstandards and duplicate samples inserted at regular intervals into thesample stream by Teuton personnel. MSA Laboratories quality systemcomplies with the requirements for the International Standards ISO17025 and ISO 9001. MSA Labs is independent of the Company.
Qualified Person
The Qualified Person for this news release for thepurposes of National Instrument 43-101 is Dino Cremonese, P. Eng. As Mr. Cremonese is the President of both Silver Grail and Teuton, heis not independent of the companies.
About Silver Grail
Silver Grail owns interests in over 12 mineralproperties in the southern portion of the Golden Triangle, all locatedwithin 35 km of the town of Stewart, BC. Many of these propertiescontain veins or shear zones hosting significant amounts of silvermineralization. In addition, the Company also owns interests inthree other properties in British Columbia containing cobaltmineralization.
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. Teuton earned $3.9million net income in 2020 and a further $2.4 million in the firstquarter of 2021. Its income is derived from option payments.
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). Interested parties can access information about Teuton at theCompany’s website, www.teuton.com .
Figures Accompanying NewsRelease
Map – http://teuton.com/KonkinSilverDrillpadMap
Respectfully submitted,
"Dino Cremonese, P.Eng."
Dino Cremonese, P. Eng.,
President and Chief Executive Officer
Silver Grail Resources Ltd.
Teuton Resources Corp.
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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