(TheNewswire)
Vancouver, Canada – TheNewswire – September 23, 2021- Teuton Resources Corp. (“Teuton” or “the Company”) ( TSXV: TUO) (OTC:TEUTF) ( Frankfurt: TFE) and SilverGrail Resources Ltd. (“Silver Grail”) ( TSXV: SVG) (OTC:SVGAF) announcethat four holes totalling 1,032m were recently completed on theirjointly owned Konkin Silver property, located within BC’s “Golden Triangle”, 35 kilometres east ofStewart, BC. The drill program tested two large, overlapping VTEMand ZTEM geophysical airborne anomalies (see end of release for a URLfor property map).
The Konkin Silver property lies south of the Midas andDel Norte properties, the latter currently being drilled forgold-silver mineralization by Teuton’s optionee, Decade Resources. A favourable, volcanic-sediment contact, known to be associatedwith precious metal mineralization, runs north-south through all threeproperties. A series of ten large Geotech ZTEM anomalies lies along,or close to, this contact.
Geologist Ed Kruchkowski, P. Geo., described the KonkinSilver drill core as follows: “The drill holes intersected blackmatrix lapilli tuffs, dacites and fine-grained tuffs in contact withhighly graphitic mudstones containing thin, rhythmic beds of pyriteover sections in excess of 50m. The presence of these pyrite bedsindicates a possible VMS environment. Pyrite beds formed up to 15-20 %of the intersected sequences. Within the dacite fragments in the blackmatrix tuffs, minor sphalerite and pyrite is noted. Indications arethat the drill holes may be in close proximity to volcanic vent areas.Core logging indicated that the holes tested rocks located at the samestratigraphic sequence hosting the Eskay Creek deposit.”
Photographs of various portions of the drill core canbe seen here: http://teuton.com/Konkinsilvercore . In Hole 21-03, a 64.45m sectionfrom 338.24 to 402.69m contains from 3 to 25% pyrite within a sequenceof intercalated graphitic mudstones and dacites.
D. Cremonese, P. Eng., President and CEO of Teuton andSilver Grail, commented as follows: “Past work on the KonkinSilver has been directed at replacement-style silver mineralization. The new 2021 exploration program is directed at VMS (VolcanogenicMassive Sulphide) mineralization and since we are in the samestratigraphic horizon as the Eskay Creek deposits, our target isprecious metal-rich, Eskay Creek type mineralization. Because ofall of the float boulders discovered earlier this year below the steepslopes overlooking the 2021 drill pads—most of them containinggraphitic mudstones with up to 25% pyrite—we can infer that thisarea is the locus of a very large mineralizing event (furthersupported by the intersections seen in drill core and also by thestrength and areal size of the ZTEM and VTEM anomalies). Some of thefloat boulders contain wisps of a green mineral thought to bescorodite and you can also see minor sphalerite in the dacites (incore), indicating that there are other minerals in the mix besidepyrite. We are really looking forward to the assays and getting backto the property in 2022. We are also looking forward to testing manyof the other Geotech airborne ZTEM anomalies in the Midas and KonkinSilver properties, as results from the current drilling havesuccessfully explained the strong geophysical responses seen in target”A-9”.
Drill core samples are sent to MSA Labs’ PreparationLaboratory in Terrace, BC and assayed at MSA Labs’ GeochemicalLaboratory in Langley, BC. Analytical accuracy and precision aremonitored by the submission of blanks, certified standards andduplicate samples inserted at regular intervals into the sample streamby Teuton personnel. MSA Laboratories quality system complies with therequirements for the International Standards ISO 17025 and ISO 9001.MSA Labs is independent of the Company.
Drilling for the season is now over for the KonkinSilver property. Although visual indications in the core are veryencouraging and management would have liked to continue, drillingfurther holes was precluded by ongoing problemswith the new drill supplied by the contractor. Drilling on the nextproject, the Eskay Rift, now has been postponed until the 2022 fieldseason.
D. Cremonese, P.Eng., is the Qualified Person forTeuton Resources Corp.; as President of the Company he is notindependent.
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). Interested parties can access information about Teuton at theCompany’s website, www.teuton.com .
About Silver Grail
Silver Grail owns interests in over 12 mineralproperties in the southern portion of the Golden Triangle, all locatedwithin 35km of the town of Stewart, BC. Many of these propertiescontain veins or shear zones hosting significant amounts of silvermineralization, others like the Clone property contain gold. Inaddition, the Company also owns interests in three other properties inBritish Columbia containing cobalt mineralization. At this time, themost prospective of these is the Pacifico on northern Vancouver Islandwhich has some of the most anomalous cobalt stream geochemistry in theprovince.
Map of Konkin Silver property: http://teuton.com/ksilverpropertymap
Note: Because of steep terrain, the actual 2021drillsite is about 125m to the south of where indicated on themap.
Respectfully submitted,
"Dino Cremonese, P.Eng."
Dino Cremonese, P. Eng.,
President and Chief ExecutiveOfficer,
Teuton Resources Corp.
Silver Grail Resources Ltd.
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.
Copyright (c) 2021 TheNewswire - All rights reserved.