(TheNewswire)
April 20, 2022 - TheNewswire - Vancouver, Canada - TeutonResources Corp. (“Teuton” or “the Company”) ( TSXV: TUO) ( Frankfurt: TFE) has received areport from its optionee Optimum Ventures Inc. (“Optimum”) whichoutlines encouraging results from a limited,4-hole drill program conducted on the Harry property in late 2021. Theproperty is located 25km north of Stewart, British Columbia, adjoiningthe Premier-Dilworth property of Ascot Resources to the west.
Highlights
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Hole S21-3 intersected 15.64m grading1,437 g/t Silver Equivalent (433.4 g/t Ag, 3.10 g/t Au, plussignificant base metal credits, cf. table below for details).
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Hole S21-4 intersected 9.26m grading1,833 g/t Silver Equivalent (690.15 g/t Ag, 1.64 g/t Au plussignificant base metal credits, cf. table below for details).
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Sampling of a train of massivesulfide float boulders returned high-grade results: the average valueof 22 samples taken from the vicinity of the Swann showings is 74.22g/t Au, 842.9 g/t Ag, 37.6 % Pb, 1.18 % Cu and 28.9 % Zn.
The 2021 exploration concentrated on a broad zone ofquartz-sericite-pyrite (QSP) alteration hosting several showings, twoof which, the Milestone and Swann, have featured visible gold insurface samples. An outcrop of Premier Porphyry, a particular typeof intrusive known to be spatially associated with precious metalmineralization at the nearby, formerly-producing Premier gold mine(now owned by Ascot Resources), has been observed in the vicinity ofthe Milestone and Swann showings. [A satellite map, plan map and drillsections are available for download, see URLs at end of release]
Four short holes were drilled during the abbreviated2021 program. The last two of the holes intersected the Swann zonein an overburden covered area, indicating it was an east-dippingstockwork. Assays of these holes returned very encouraging preciousand base metal values as detailed below:
DRILL R ESULTS – SWANN ZONE
D r il l H ol e # | F r o m ( m) | To ( m) | I n te rv al ( m ) * | Cu (%) | Pb (%) | Zn (%) | Au (g/t) | Ag (g/t) | AgEq (g/t)** |
S21-3 | 8.75 | 24.39 | 15.64 | 0.606.37 | 7.17 | 8.74 | 3.10 | 433.4 | 1,437 .31 |
S21-4 | 14.57 | 23.78 | 9.26 | 0.745 | 14.0 | 9.33 | 1.64 | 690.1 | 1,833 |
* S tat e d l e n g t h s i n m e t e r s are d o w nh o le co re l eng t h s a n d n o t t r u e w i d t hs . T r u e w i d t h s w ill b e c alc u lat e d o n c e m o re d r i ll i n g co n fi r ms t h e ge om e t r y o f t h e mineralized s y s t e m.
* * Ag E q m e tal val u e s are c alc u lat e d u s i n g A u U S D/ o z $1,977.40, A g U S D/ o z $25.82, Cu U S D/ l b $ 4 .72 Pb U S D/ l b $1.12, Zn U S D/ l b $2.05(2022/04/8). A llval ue s a r e r ep o r te d i n U S D a n d d o n o t c o ns i de r m e tal r e co ver ies .
The first 2 holes of the program appear to havepenetrated the footwall region of the Swann zone with narrow stringersof base metal in quartz containing low precious metal values. DDH21-2had 0.91m of 11.77 Ag and 2.17% Zn as well as 3.05 m of 21.66 g/t Agand 2.24 % Zn.
Continued SurfaceSampling
In addition to the drilling, further sampling wasundertaken of massive sulfide float boulders found in the vicinity ofthe Swann zone. Optimum forwarded an additional 16 grab samplestaken from Swann zone boulders for assaying along with the coresamples. Results from these grab samples on the Swann zone includevalues up to up 286.2 g/t Au,2,202 g/t Ag, 62.19 % Pb, 2.87 % Cu and 28.9 % Zn.
The 22 samples (16 additional samples plus 6 reportedpreviously, cf. News Release dated March 2, 2022) collected to datefrom the discovery boulders show a range of 0.76 to 286.2 g/t Au, 246to 2,202 g/t Ag, 21.5 to 57.33 % Pb, 0.07 to 2.87 % Cu and 0.41 to32.11 % Zn. The average value of these samples is 74.22 g/t Au, 842.9 g/t Ag, 37.6 % Pb, 1.18% Cu and 28.9 % Zn. Of particular interest, narrow sulphidestringers in bedrock parallel to the indicated strike of the Swannzone located within 25m of the discovery boulders also showed highgold and silver values. Sample A21-62 from one of these stringersassayed 45.2 g/t Au, 1,111 g/t Ag, 9.38 % Pb, 2.74 % Cu and 20.88 %Zn.
In addition, reconnaissance sampling was carried outprior to snowfall in 2021 on mineralized sub-crop quartz found alongseveral QSP zones situated close to the lower Granduc Road. Theseeast-west zones of sub-crop appear to be up to 5m wide with strongpyrite veining and narrow quartz veining with base metals. One zone islocated 1.7 km south of the Swann zone and sampling indicates up to1.99 g/t Au and 15.63 g/t Ag, another zone 1.5 km south gave 1.58 g/tAu and 65.92 g/t Ag while a third zone 1.2 km south assayed 2.17 g/tAu and 245 g/t Ag.
Note: Grab samples are solelydesigned to show the presence or absence of any mineralization and tocharacterize the metal tenor in this mineralization. Grab samples areby definition selective and not intended to provide nor should beconstrued as a representative indication of grade or mineralization atthe property; and the grab samples analyzed from the property reflecta broad range in grade from below detection limit to the gradeshighlighted herein.
E. Kruchkowski, director of Optimum Ventures stated:“Finding visible gold in massive to semi-massive boulders at surfaceleading to the discovery of the Swann zone confirms the potential ofthe Harry property. With the surface results from the Milestone zonediscovered in 2020 (7.86 ounces per ton gold [269.5 g/t] across a2-metre width) and Swann zone drill intersections, the Company isexcited for the up coming 2022 exploration program being finalized.The Company initially plans an aggressive program including mapping,sampling and drilling once the 2022 surface work is compiled. Theproperty shows similarities to both the Valley of Kings and Premierdeposits based on my experiences working on them. With the rapidablation of glacial ice and large areas of the property that have notbeen explored, particularly the bright gossans being exposed, theCompany anticipates numerous new exciting discoveries .”
D. Cremonese, P. Eng., President of Teuton, commentedas follows: “These results are very propitious and they underscoremy long-held belief about the merits of the Harry property. Like Mr.Kruchkowski, I am looking forward to the follow-up phase ofexploration which is expected to begin, weather permitting, within acouple of months.”
Qualified Persons : Mr. Edward Kruchkowski, P.Geo., a member ofOptimum’s Board of Directors, is a qualified person for the purposesof National Instrument 43-101 and has reviewed and approved thetechnical information contained herein. D. Cremonese, P. Eng., isthe Qualified Person for Teuton Resources and although he has notreviewed the technical information firsthand, he has no reason todoubt its reliability. As the CEO and President of Teuton, Mr.Cremonese is not independent of the Company.
Quality assurance -- qualitycontrol
Optimum Ventures inserted blanks and standards withinthe sample stream to improve quality control. MSALabs, the accreditedlaboratory which performed the analyses, also ran internal standardsand blanks as a check on their results. Pulps and rejects are retainedfor future analyses, if needed.
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 $3.9 million net income in 2020 and a further $2.4million in the first quarter of 2021. Its income is derived fromoption 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) and a 0.98% NSR in the Goldstorm deposit area. Teuton alsoacquired the Harry property many years ago by staking. Interestedparties can access information about Teuton at the Company’swebsite, www.teuton.com .
URLs For Figures
Satellite Photo – Mineralized Zones:http://teuton.com/harrysatphoto
Drill Plan Map:http://teuton.com/harrydrillplanmap
Cross Section DDH S21-3:http://teuton.com/XSection-DDH-21-S-3
Cross Section DDH S21-4:http://teuton.com/XSection-DDH-21-S-4
On Behal f of the Board of Directors of TeutonResources:
"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
Corporate Development and Communications
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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