(TheNewswire)
Vancouver, Canada – TheNewswire – May 26, 2021 - TeutonResources Corp. (“Teuton” or “the Company”) ( TSXV: TUO) ( Frankfurt: TFE ) has received a report from its joint venturepartner Tudor Gold announcing the commencementof the 2021 exploration program at the Goldstorm Deposit, Treaty Creekproperty, which is on-trend from Seabridge Gold’s KSM Projectlocated five kilometers to the southwest. The first two drills havearrived and have begun drilling the 30,000 meter, fully funded, Phasel exploration program. Six drills will be usedfor this deposit delineation and property exploration program.
Tudor Gold’s Vice President of Exploration andProject Development, Ken Konkin, P.Geo., states: “Crews have been onsite for several weeks preparing our drill camp and our lowerexploration camp to receive our first two drill teams. This season hada remarkably deep snowpack compared to that of previous years. Ourcrews took advantage of the high snow level and excellent weatherconditions during April and May to transport heavy equipment anddrilling supplies to our site utilizing the South Treaty Glacierroute. Avalanche technicians safely guided the convoy of equipmentover the pass that connects to the Pretium Resources’ KnippleGlacier ice road.
The priority of our exploration program this year is todefine the limits of the Goldstorm Deposit, as it currently remainsopen to expansion in all directions and at depth. Furthermore, we willattempt to convert as much of the 7.9 million ounces of goldequivalent (AuEq) Inferred Resources to the Measured and IndicatedResource categories that currently total 19.41 million ounces of AuEq.In addition to drilling at Goldstorm (GS), we will also continue ourdrilling at Perfect Storm (PSZ) and other targets, including theEureka Zone (EZ). Approximately 90% of the planned drilling will beundertaken at Goldstorm while two 300-meter southwestern step-outholes are initially planned for Perfect Storm, and one hole at Eureka.We expect to add two more drills in the following week”.
Walter Storm, President and CEO ofTudor Gold , stated : “We are allvery pleased to see the safe start-up of the2021 exploration program thanks to the hard work and dedication of ourcrews. I would also like to thank our good neighbours along oursouthern boundary; we very much appreciate the management and staff atPretium Resources for their assistance and permission to transportvital heavy equipment and drill supplies to our site from theirBrucejack Mine access road. Last year we completed our mostsuccessful exploration season at Treaty Creek, which provided theresults for our Initial Mineral Resource Estimate. Our goal thisyear is to complete the drilling of the Goldstorm Deposit to hopefullyexpand and finalize the Mineral Resource Estimate. With this, we canthen proceed with a Preliminary Economic Assessment (PEA) for 2022. Wealso have several high-level targets to explore at Treaty Creek, withthe goal of identifying the nature and grade of gold distributionwithin the Perfect Storm and Eureka targets.”
Teuton recently invested $9.6 million into Tudor Goldby way of a private placement; these funds will mostly be used fordrilling at the Goldstorm and other related zones at Treaty Creek.
Qualified Person
The Qualified Person for this news release for thepurposes of National Instrument 43-101 is Tudor Gold’s VicePresident Project Development, Ken Konkin, P.Geo. He has read andapproved the scientific and technical information that forms the basisfor the disclosure contained in this news release. Mr. Konkin isalso a director of Teuton.
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 $3.5 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.
Teuton was the original staker of the Treaty Creekproperty assembling the core land position in 1985. It presentlyholds a 20% carried interest in Treaty Creek (carried until such timeas a production decision is made), as well as a 0.98% NSR in thecentral portion of the property including the Goldstorm deposit. Interested parties can access information about Teuton at theCompany’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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