(TheNewswire)
September 29, 2023 – TheNewswire - Vancouver, Canada ––Teuton Resources Corp. (“Teuton” or “the Company”)(TSXV: TUO ) (Frankfurt: TFE ) has received assay results from its JointVenture partner, Tudor Gold Corp. (“Tudor Gold”), in respectof the third set of drillresults from the 2023 work program at the Treaty Creek property. Treaty Creek is located in the heart of the Golden Triangle ofnorthwestern British Columbia, adjoining and on geological trend withS eabridge Gold’s KSM property and Newmont’sBrucejack property.
Tudor Gold has safely and successfully completed the2023 drilling program with a total of 31,904 meters (m) drilled withinareas encompassing the Goldstorm Deposit and the Perfectstorm Zone.The assay results reported in this release are from seven drill holesthat targeted the northeastern area of the Goldstorm Depo sit. Further results from holes whichare currently being logged or are in for assay will be announced whenreceived.
Click to view a plan map and cross sections: http://teuton.com/Treaty0923Figures .
Ken Konkin, President and CEO of Tudor Gold , commented asfollows : “Once again we have been rewardedfrom our bold step-out drilling on the Goldstorm Deposit. These recentintercepts, outside the limits used for the April 28, 2023 MineralResource, continue to expand the size of the deposit and, at the sametime, infill drilling has successfully defined large blocks containingstrong gold, silver and copper mineralization within drill inferredareas. Our objective is to continue to explore the deposit limits tothe northwest, north and northeast, thereby increasing the volume ofthe Mineral Resource while maintaining the higher gold, silver andcopper grades of our most recent Mineral Resource Estimate. Ourfundamental priority for continued exploration will be to define thelimits of the known domains that comprise the Goldstorm Deposit and toupgrade areas of Inferred Resources to the Indicated category.
Drill hole GS-23-174 is a good example of the successwe have had in defining areas of higher gold and copper values with,in this case, an unexpected increase in silver mineralization. Theestimated silver content for the Indicated Resource within the CS-600Domain is 5.45 g/t. Drill hole GS-23-174 was drilled at the northernlimit of the deposit and had a 213.0 m interval averaging 13.32 g/t Ag, 0.89 g/t Au and 0.36 %Cu , which equals 1.45 g/t gold equivalent(AuEq). As well, we found significant silver mineralization along theupper contact area of the CS-600 Domain within drill hole GS-23-172.This northeastern-most drill hole contained elevated silver values,with a high of 571 g/t Ag over1.5 m , near the end of the hole. Unfortunately,GS-23-172 was lost in fractured ground as it approached the uppercontact of the CS-600 Domain at this location. We will target thisarea from a different angle next year.
Based on our geological observations from the latestdrilling, we have constructed two more drill pads ready for the 2024season that are located approximately 500 m northeast of the currentMineral Resource limit. From these two super-pads, we should be ableto complete drilling on the northern aspect of the deposit. Currentlythe deposit is open in all directions and at depth. Once the finaldefinition drilling of the Goldstorm Deposit is completed, we can thenfocus our exploration on three other very promising targets; Eureka,Calm Before the Storm (CBS), and Perfectstorm (PSZ), while we advanceGoldstorm to the Preliminary Economic Assessment (PEA) phase of theproject.”
Section 117+00NE
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GS-23-168-W2: Wedged off parent hole GS-23-168 to target the down dipextension of the CS-600 Domain intersected in hole GS-23-168-W1. Thehole first passed through the 300H Domain with 216.0 m grading 1.11 g/t AuEq(1.05 g/t Au, 4.47 g/t Ag, 0.01 % Cu) , but thehole then deviated beyond the planned orientation and was not able tocontinue to test CS-600 at depth.
Section A
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GS-23-171: Drilled to target the deep portion of the CS-600 Domain wherethe April 28, 2023 Mineral Resource Estimate (MRE) categorized thearea as Inferred Resources. The hole encountered mineralization in the300H Domain with 55.5 m grading 3.35 g/t AuEq (3.27g/t Au, 6.62 g/t Ag, 0.01 % Cu) within a broaderinterval of 255.0 mgrading 1. 18 g/t AuEq (1. 15 g/t Au , 2.01 g/t Ag, .01 % Cu) . At depth,the drill hole terminated in mineralization within the CS-600 Domaindue to poor ground conditions. The recovered CS-600 interval measured 91.5 m grading 1.03 g/t AuEq (0.86 g/t Au, 3.24 g/t Ag 0.12 % Cu)
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GS-23-174: Drilled to target an area of Inferred Mineral Resources inthe CS-600 Domain. This hole was fully completed andreturned 213 .0 m of 1.45 g/t AuEq (0.89 g/t Au, 13.32 g/t Ag 0.36 % Cu) with an enriched interval of 72.0 m grading 2.01 g/t AuEq (1.30 g/t Au, 23. 34 g/t Ag 0.40 % Cu)
Section B
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GS-23-173: Drilled as a 200 m northeast step-out from the CS-600 Domainboundary, as reported in the April 28, 2023 MRE. The hole terminatedin faulted ground within the CS-600 Domain, although the upper part ofCS-600 was recovered, averaging 1.03 g/t AuEq over 263.1 m (0.58 g/t Au, 5.46 g/t Ag, and 0.34 %Cu) . Wedge holes were then drilled to completethe target intercept.
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GS-23-173-W1: This hole was terminated prior to target depth due to poorground conditions.
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GS-23-173-W2: This hole was wedged above GS-23-173-W1 and was spaced at 6 mfrom the end of GS-23-173-W1, producing a twin intercept.The hole was successful and hit both the CS-600Domain and what is interpreted to be a significant extension to theDS5 Domain. A CS-600 Domain interval of 2 53.50 m was intersected and averaged 0.91g/t AuEq (0.48 g/t Au, 5.09 g/t Ag, 0.32 % Cu) with a 145.5 m intervalgrading 1.02 g/t AuEq (0.45 g/t Au, 6.63 g/t Ag, 0. 42 % Cu . Below the CS-600 Domain, the DS5 Domain was intersectedwith an interval of 112.5 mgrading 1.42 g/t AuEq (1.33 g/t Au, 3.40 g/t Ag, 0.05 % Cu ).
Section C
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GS-23-172: Drilled to test the CS-600 Domain approximately 375 m to thenortheast. The hole flattened beyond the planned orientation and didnot intersect the CS-600 Domain. However, the hole returned severalsilver intercepts, most notably, 21 .0 m of 67 g/t Ag near the end of the hole
Table 1: Drilling Results forGoldstorm Deposit in Press Release September 27, 2023
Section | Hole | Zone | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu (%) | AuEq (g/t) |
117+00NE | GS-23-168-W2 1 | 300H | 198.00 | 414.00 | 216.00 | 1.05 | 4.47 | 0.01 | 1.11 |
including | 313.50 | 324.00 | 10.50 | 4.87 | 9.72 | 0.01 | 4.98 | ||
A | GS-23-171 1 | 300H | 426.00 | 681.00 | 255.00 | 1.15 | 2.01 | 0.01 | 1.18 |
including | 438.00 | 465.00 | 27.00 | 2.42 | 0.57 | 0.01 | 2.43 | ||
and | 561.00 | 616.50 | 55.50 | 3.27 | 6.62 | 0.01 | 3.35 | ||
CS-600 | 1702.50 | 1794.00 | 91.50 | 0.86 | 3.24 | 0.12 | 1.03 | ||
C | GS-23-172 | Other | 675.00 | 678.00 | 3 .00 | 2.58 | 232.67 | 0.21 | 5.13 |
Other | 1041.00 | 1062.00 | 21 .00 | 0. 13 | 66.95 | 0.06 | 0.85 | ||
Including | 1041.00 | 1051.50 | 10.50 | 0.15 | 108.34 | 0.09 | 1.32 | ||
And including | 1042.50 | 1044.00 | 1.50 | 0.10 | 571.00 | 0.23 | 6 .01 | ||
B | GS-23-173 1 | CS-600 | 1014.00 | 1277.10 | 263.10 | 0.58 | 5.46 | 0.34 | 1.03 |
including | 1123.50 | 1227.00 | 103.50 | 0.54 | 5.05 | 0.43 | 1.10 | ||
B | GS-23-173-W2 | CS-600 | 105.00 | 358.50 | 253.50 | 0.48 | 5.09 | 0.32 | 0.91 |
including | 166.50 | 312.00 | 145.50 | 0.45 | 6.63 | 0.42 | 1.02 | ||
DS5 | 397.50 | 510.00 | 112.50 | 1.33 | 3.40 | 0.05 | 1.42 | ||
including | 453.00 | 471.00 | 18.00 | 3.15 | 1.46 | 0.01 | 3.18 | ||
A | GS-23-174 | CS-600 | 879.00 | 1092.00 | 213 .00 | 0.89 | 13.32 | 0.36 | 1.45 |
including | 1014.00 | 1086 .00 | 72.00 | 1.30 | 23.34 | 0.40 | 2.01 | ||
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Table 2: Drill data for holes inPress Release September 27, 2023
Section | Hole ID | UTM E NAD 83 | UTM N NAD 83 | Elevation (m) | Azi (?) | Dip (?) | Depth (m) |
117+00 NE | GS-23-168-W2 | 428725.7 | 6273503.2 | 1060.9 | 290 | -57 | 1230 |
A | GS-23-171 | 428933.0 | 6273444.6 | 1398.4 | 318 | -60 | 1794 |
C | GS-23-172 | 429355.0 | 6273556.4 | 1228.4 | 320 | -59 | 1104 |
B | GS-23-173 | 429032.6 | 6273665.6 | 1498.8 | 332 | -74 | 1277.1 |
B | GS-23-173-W1 | 428941.4 | 6273864.1 | 625.9 | 345 | -77 | 193 |
B | GS-32-173-W2 | 428941.1 | 6273865.0 | 622.0 | 344 | -77 | 558 |
A | GS-23-174 | 429025.2 | 6273657.5 | 1498.4 | 275 | -79 | 1167 |
QA/QC
Diamond drill core samples were prepared at MSA Labs’Preparation Laboratory in Terrace, BC and assayed at MSA Labs’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 Tudor Gold personnel. MSA Laboratories quality systemcomplies with the requirements for the International Standards ISO17025 and ISO 9001. MSA Labs is 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 remaining 20% interest, also carried). Additionally, Teuton owns a 0.98% Net Smelter Royalty in theGoldstorm deposit area. It also owns numerous additional royaltyinterests within the Sulphurets Hydrothermal system on properties suchas the King Tut, Tuck, High North, Orion, Delta and Fairweatherproperties.
The Treaty Creek Project contains the Goldstorm Deposit(a large gold-copper porphyry system) as well as several othermineralized zones. As disclosed in the March 2023 News Release, theGoldstorm Deposit has an Indicated Mineral Resource (as defined in NI43-101) of 23.37 Moz of AuEq grading 1.13 g/t AuEq (18.75 Moz goldgrading 0.91 g/t, 2.18 Blbs copper grading 0.15 %, 112.4 Moz silvergrading 5.45 g/t) and an Inferred Mineral Resource (as defined in NI43-101) of 7.35 Moz of AuEq grading 0.98 g/t AuEq (5.54 Moz goldgrading 0.74 g/t, 0.85 Blb copper grading 0.16 %, 45.08 Moz silvergrading 5.99 g/t), with a pit constrained cut-off of 0.5 g/t AuEq andan underground cut-off of 0.7 g/t AuEq. The Goldstorm Deposit has beencategorized into three dominant mineral domains and several smallermineral domains. The CS-600 domain largely consists of an intermediateintrusive stock and hosts the majority of the copper mineralizationwithin the Goldstorm Deposit. CS-600 has an Indicated Mineral Resourceof 9.86 Moz AuEq grading 1.10 g/t AuEq (6.22 Moz gold grading 0.70g/t, 1.98 Blbs copper grading 0.32 %, 51.1 Moz silver grading 5.71g/t) and an Inferred Mineral Resource of 3.71 Moz AuEq grading 1.19g/t AuEq (2.32 Moz gold grading 0.75 g/t, 0.76 Blb copper grading 0.36%, 18.71 Moz silver grading 6.01 g/t). The Goldstorm Deposit remainsopen in all directions and requires further exploration drilling todetermine the size and extent of the deposit.
1 AuEq = Aug/t + (Ag g/t*0.0098765) + (Cu ppm*0.0001185)
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, both in cash and inshares of the optionee companies over the past 6 years, has providedTeuton with substantial income.
On Behalf of the Board of Directorsof Teuton Resources:
"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: bholmesmba@gmail.com
Neither the TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy 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 expressionsand statements relating to matters that are not historical facts areintended to identify forward-looking information and are based on theCompany's current belief or assumptions as to the outcome and timingof such future events. Actual future results may differmaterially.
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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