(TheNewswire)
Treaty Creek Gold Project HighlightsTo Date:
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Six rigs are currently drilling thenorthern extension of the Goldstorm Deposit.
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Two rigs have started drilling on theneighbouring CBS (Calm Before the Storm) and Eureka Zones.
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1,600 line-km high-resolutionairborne aeromagnetic survey to begin over Treaty Creek property (aswell as the Crown property—Teuton owns NSR interests in much ofthese claims).
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Operator Tudor Gold takes first stepsto build a road which will eventually provide access to Treaty Creekfrom Highway 37.
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Meaningful engagement with FirstNations continues (Nisga’a, Tahltan and Skii Km Lax Ha).
Vancouver, Canada – TheNewswire – May 25, 2022, TeutonResources Corp. (“Teuton” or “the Company”)(TSXV: TUO ) (Frankfurt: TFE ) has received word from its Joint Venturepartner, Tudor Gold Corp., that explorationefforts have doubled for Phase l of the 2022 exploration program (the" Program ") at the Treaty Creek gold property, located in theheart of the Golden Triangle of Northwestern British Columbia. Thefully funded Program consists of a 30,000 metre (m) diamond drillingcampaign that has been developed to systematically test the extensionof the Goldstorm Deposit well beyond the limits that were outlined inthe 2021 Mineral Resource Estimate (cf. Teuton press release datedMarch 9, 2021) which indicated a Mineral Resource of 19.41 millionounces of AuEq grading 0.74 g/t AuEq and an Inferred Mineral Resourceof 7.9 million ounces of AuEq grading 0.79 g/t AuEq. In addition,exploration diamond drilling will focus on the Calm Before the Storm(CBS) and the Eureka zones (EZ or Eureka).
During the past two weeks, Tudor's crews have mobilizedfour more drill rigs to the site from the winter route via theBrucejack Access Road. The drill contractors now have eight drill rigsworking on three targets. Six drill rigs have commenced drilling thenorthern aspects of the Goldstorm Deposit as step-out explorationholes. One rig has been drilling at CBS as a follow-up to last year'snewly discovered gold-silver system located 2.5 kilometres northeastof the Goldstorm Deposit. Additionally, crews have begun drilling theEureka Zone located 800 meters southeast of the Goldstorm Deposit (seeURL at the end of this release for a map).
Ken Konkin, President and CEO ofTudor Gold , comments, "The start-up of the2022 exploration campaign has been a huge success. We are well aheadof schedule starting the step-out exploration drill holes in thenorthern aspects to the Goldstorm Deposit as well as initiating drillprograms at CBS and Eureka. Additionally, we plan to complete ahigh-resolution aeromagnetic survey over our Treaty Creek and Crownclaims with Terraquest Geophysics. A total of 1,600-line kilometresare expected to be flown during the next few days. This will serve asa vital mapping tool to aid continued exploration efforts throughoutboth properties. In addition to exploration, Tudor plans to constructan exploration access road that will connect our Lower Camp to ourweather station area located 3.5 kilometers east of that camp. Thisroute will eventually tie into the permitted access road thatSeabridge Gold (Seabridge) is currently constructing from the Highway37 junction at Glacier Creek. This will provide an all-weather roadaccess to our project once completed. Seabridge has already completedthe bridge construction for the Bell Irving River crossing at GlacierCreek.
"Our engagement efforts with local First Nationscontinue to develop. We have initiated contact with Nisga'a First Nations, and we have pledged follow-up meetingsto ensure clear communication as the project evolves. Earlier in theyear, Tudors' geologists and geotechicians held an informal CoreProcessing Workshop as an Open-Invite for the Tahltan communitymembers in Dease Lake. It was a successful three-day session thatincluded geotechnical procedures, QA/QC protocols as well coresampling and shipping procedures. We plan to continue to host theseworkshops in communities interested in gaining employment in theexploration sector. For many of those who attended, this was anexcellent introduction to one small aspect of exploration. We arecommitted to include all First Nations including Tahltan, Skii Km LaxHa and Nisga'a as part of our engagement process and we will continueto encourage participation with our future workshops to provideemployment opportunities and public awareness to our industrysector."
D. Cremonese, P. Eng., President ofTeuton commented as follows: “Having eightdrills running this early in the season is a remarkable achievement. I would like to commend Ken Konkin for organizing this superbeffort; thanks also to Harvey Tremblay of Hy-Tech Drilling and SeanPownall of Morecore Drilling.”
Qualified Person
The Qualified Person for this news release for thepurposes of National Instrument 43-101 is Tudor Gold’s President andCEO, Ken Konkin, P.Geo. He has read and approved the scientific andtechnical information that forms the basis for the disclosurecontained in this news release. Mr. Konkin is also a director ofTeuton.
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. It has earnedsubstantial income from option payments in the past 6 years.
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. Interestedparties can access information about Teuton at the Company’swebsite, www.teuton.com .
URL for Eureka zone Location: http://teuton.com/EurekaGSMap
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
Director Corporate Development andCommunications
Tel. 778-430-5680
Email: barry@teuton.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 expressions and statements relatingto matters that are not historical facts are intended to identifyforward-looking information and are based on the Company's currentbelief or assumptions as to the outcome and timing of such futureevents. Actual future results may differ materially.
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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