(TheNewswire)
Vancouver, Canada – TheNewswire – August 18, 2021 –– Teuton Resources Corp. (“Teuton” or “the Company”) (TSXV:TUO) (OTC:TEUTF) (Frankfurt:TFE) announces that itsoptionee, Decade Resources (“Decade”) has completed a Phase 1 program consisting of tenholes at depths up to 250m on the Del Norte property. The property issituated within BC’s “Golden Triangle”, 34 kilometres east ofStewart, BC.
Highlights of the recent drilling include:
-
- Native silver observed alongfractures in DDH-21-10 (see photo— http://teuton.com/nativesilver).
-
- Visible gold associated withsphalerite (zinc sulphide), pyrite (iron sulphide), galena (leadsulphide) and tetrahedrite (copper-silver antimony sulphide) inDDH-21-9 (see photo- http://teuton.com/nativegold).
-
- Acanthite (silver sulphide with87.1% silver content) associated with the above minerals in DDH-21-10(see photo- http://teuton.com/acanthite).
-
- All ten holes contain Intersectionsof highly mineralized rocks over widths of 18-20m at depths up to 250mdownhole.
Ed Kruchkowski, President of Decade states: “Therecent financing from Teuton Resources Corp. has allowed the Companyto complete approximately 2,300m in the 10 current holes. The Companyis very grateful for the support of Teuton that has allowed for theintersection of very prospective intervals in the latest drill holes.All holes have intersected the Argo/LG mineralization. The presence ofvisible gold in DDH-21-9 may indicate the source of the placer gold inNelson Creek. This is one of four areas in the Stewart region wherebyplacer gold is found in streams and three of the other areas have golddeposits associated with them.”
The drilling is testing the contact of felsic volcanic rocks of the Hazelton Group andsedimentary rocks of Salmon River Formation. This is the same horizonthat hosts the Eskay Creek mine 60km north of Stewart. Drilling isfrom drill stations located on rock islands (nunataks) within theSouth Nelson Glacier. The 2021 drilling has successfully tested forextensions of 2020 gold-silver drill hole intersections. Highlights of 2020 exploration of the Argo zoneinclude:
-
- 1049.64 g/t Ag eq over 6.03 m inDDH DN20-18, included within an interval grading 119.95 g/t Ag Eq over58.37m
-
- 2128.48 g/t Ag eq over 2.46m in DDHDN20-20, included within an interval grading 221.03 g/t Ag eq over34.09m
-
- Discovery of float rocks from anarea just above the 2021 drill station which assayed up to 20.6 g/tgold and 561 g/t silver.
Mineralization is located within pyrite-rich, black mudlapilli tuffs with sub-intervals of dacite lapilli tuffs. Sulphidesinclude pyrite, sphalerite, galena and tetrahedrite along with visiblegold and silver in the 2021 drill holes.
The Del Norte property was optioned from TeutonResource Corp. in January of 2020 with terms allowing Decade to earnup to a 55% interest in the property by spending $4 million over afive year period. Decade can an earn an additional 20% interest bycarrying the property to commercial production.
D. Cremonese, P.Eng., is the Qualified Person forTeuton Resources Corp.; as President of the Company he is notindependent. Although Mr. Cremonese has not personally verified theaccuracy of the technical information provided by Decade in the newsrelease, he has no reason to believe it is inaccurate.
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 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 .
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.
Copyright (c) 2021 TheNewswire - All rights reserved.