(TheNewswire)
October, 8, 2020 - TheNewswire - Victoria, BC,BC - Teuton Resources Corp. ("Teuton" or "the Company") ( TSXV: TUO) (OTC:TEUTF) ( Frankfurt: TFE) has received a report from its optionee, Decade Resources,containing an exploration update on 2020 work being conducted on theLord Nelson and Del Norte properties, both optioned to Decade earlierin the year. The properties are located 34 km east of Stewart inthe "Golden Triangle" of northwest British Columbia.
Highlights include:
-
- 10 m wide chalcopyrite-rich zonewith VG (Visible Gold) in the first drill hole on the Del Norte/LordNelson boundary.
- VG identified in surface channelsaw cuts on the "14 oz" zone.
- Wide mineralized intersection onthe Argo zone (Del Norte property).
- Drilling has intersected a secondmineralized zone located west of the Argo zone.
Decade has completed over 6,000 m of drilling in 23holes to date testing three targets: the "Argo" zone (a 115m wide north-south zone of deformation), the newly discovered Eagle'sNest zone and the newly discovered "14 oz" zone, the latterin the boundary area between the Del Norte and Lord Nelson properties. The drilling on the Argo and Eagle's Nest zones has indicated thatmineralization is hosted by black mud lapilli tuffs that appear tohave repeat sections due to thrusting and faulting. Mineralized zoneshost various sulphides including pyrite, sphalerite, galena andtetrahedrite along with sections mineralized by fine aciculararsenopyrite. Intersections in the Argo zone have been up to 30 m longwithin certain drill holes. Drilling in 2020 has outlined the Argozone over at least 500 m of strike length and it remains open to depthand along strike. Logging and diamond sawing of the core continueswith 2 separate core cutting stations. Assays are awaited.
Attached is a photo of VG from the saw-cutting on the"14 oz" zone and from an intersection in DDH-20-23, thefirst hole into this promising area.
E. Kruchkowski, President of the Company states:"Hitting visible gold in the first hole in the Del Norte-LordNelson boundary area confirms the potential of this new zone andvalidates the high-grade gold results obtained in surface sampling. We are very pleased with this result and also with the lengthyintersections being obtained in the Argo drilling."
Dino Cremonese, P.Eng., President of Teuton commentedas follows: "Intersecting visible gold in a drill hole,particularly the first one in a given area, is a rare occurrence. Iwould like to congratulate the Decade geological crew and Mr.Kruchkowski for this exploration success."
All drill cores in this program are NQ in size. Thecore is brought into Stewart on a daily basis where it is logged forcutting on a diamond saw. Assays are to be completed on sawn halfcores, with the second half kept for future reference. The sampleswill be analyzed using 30 element ICP and standard fire assayprocedures with atomic absorption (AA) finish on samples yielding agrade higher than ten g/t Au. Standard reference materials and blanksamples were inserted prior to shipment for quality assurance andquality control (QA/QC) program.
Analysis will be performed by Activation LaboratoriesLtd in Kamloops BC.
Ed Kruchkowski, P. Geo., a Qualified Person underNational Instrument 43-101 is responsible for the contents of thisrelease. E. Kruchkowski is not independent of Decade as he is thepresident of Decade. D. Cremonese, P. Eng., is the Qualified Personfor Teuton (he is not independent of the Company); although he has notpersonally verified the technical information contained in thisrelease, 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 northwestern BritishColumbia and was one of the first companies to adopt what has sincebecome known as the "prospect generator" model. Ten ofthese properties are currently under option to third parties. Over$2 million in option cash payments has been generated from theseproperties since 2015 (not including the value of option payments madein shares), including properties where optionees have already earnedtheir interest.
One of Teuton's properties, the Treaty Creek, ispresently the subject of a multi-million dollar exploration programtesting the Goldstorm zone with six diamond drills. Teuton was theoriginal staker of this property, assembling the core land position in1985. It presently holds a 20% carried interest in Treaty Creek(carried until such time as a production decision is made) as well asa 0.98% NSR in the claims covering the Goldstorm zone. A 0.49% NSR isowned in the peripheral claims. None of the NSRs are subject to abuy-back. Teuton also owns eight other royalties in the SulphuretsHydrothermal System with interests ranging up to 2.5%, none of whichare subject to a buyback. Interested parties can access informationabout Teuton at the Company's website,
"Dino Cremonese, P.Eng."
Dino Cremonese, P. Eng.,
President and Chief Executive Officer
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.
Sample fromsaw-cut into the 14 oz zone showing visible gold in upper edge
Sample of copper -VG bearing core from DDH-20-23 from the Del Norte /Lord Nelson tenuresboundary
Another photo of copper - VG bearing core fromDDH-20-23 from the Del Norte /Lord Nelson tenures boundary .
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