(TheNewswire)
JUNE 8, 2021 – TheNewswire - Vancouver, Canada –– Teuton ResourcesCorp. (“Teuton” or “the Company”) (TSXV:TUO) (OTC:TEUTF) (Frankfurt-TFE) hasreceived a report from its joint venture partner Tudor Gold announcing that two additional drill rigs have arrived atTreaty Creek (the “Project”), located in the heart of the GoldenTriangle of Northwestern British Columbia. Diamond drilling continueswith four rigs on the Goldstorm Deposit, which is on-trend fromSeabridge Gold’s KSM Project, located five kilometres to thesouthwest. Excellent progress has been made during the first two weeksof drilling on the fully funded 30,000 metre, Phase l explorationprogram (the “Program”). This depositdelineation and property exploration program will utilize up to sixdrills.
Tudor Gold’s Vice President ofExploration and Project Development, Ken Konkin, P.Geo.,states : “Despite higher than normal snowpacklevels, crews have rapidly advanced the excavation of snow to exposedrill sites allowing four diamond drill rigs to begin operations. Weplan to prepare pad sites at other targets such as Perfect Storm (PSZ)and Eureka this month and will bring in two additional diamond drillrigs.
We are excited about drilling these promising newtargets, however, the priority of our exploration program is to definethe limits of the Goldstorm Deposit, as it currently remains open toexpansion in all directions and at depth. In addition to potentiallyadding new gold equivalent (AuEq) ounces to the resource we willattempt to convert as much of the 7.9 million AuEq ounces of InferredResources to the Measured and Indicated Resource categories thatcurrently total 19.41 million AuEq ounces. Concurrent with thedrilling program, environmental base-line studies continue, includingour water-sampling programs and installation of a weather monitoringstation near our lower exploration camp.
Tudor Gold Corp. and our associated service companieshave taken extreme measures to maintain the highest professionalstandards while working within COVID-19 health and safety protocols.Only essential personnel are permitted to enter the camp and stagingareas. Of those workers who are at the project site and staging site,we have strict daily monitoring of the workers temperatures andgeneral health conditions. We have a certified paramedic at thestaging area to examine all in-coming and out-going Tudor personneland all service providers.”
Walter Storm, President and CEO ofTudor Gold , stated : “I am verypleased with the safe start-up of the 2021 exploration program at ourflagship Treaty Creek Project thanks to the hard work and perseveranceof our crew members. We look forward to increasing the pace andperformance of this year’s Program by expanding the number ofdrilling rigs at the Treaty Creek property. This start will help uscomplete the required drilling necessary to potentially expand andupdate the current resource estimate. The goal is to complete anupdated Resource Estimate for the Goldstorm Deposit in 2022. We feelconfident this will allow us to advance the Project with a PreliminaryEconomic Assessment study planned for 2022.”
Qualified Person
The Qualified Person for this news release for thepurposes of National Instrument 43-101 is Tudor Gold’s VicePresident Project Development, Ken Konkin, P.Geo. He has read andapproved the scientific and technical information that forms the basisfor the disclosure contained in this news release. Mr. Konkin isalso a director of Teuton.
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. Ten of these propertiesare currently under option to third parties. Over $3.5 million inoption cash payments (not including appreciable payments made inshares) has been generated from these properties since 2015, includingproperties where optionees have already earned their interest.
Teuton was the original staker of the Treaty Creekproperty assembling the core land position in 1985. It presentlyholds a 20% carried interest in Treaty Creek (carried until such timeas a production decision is made), as well as a 0.98% NSR in thecentral portion of the property including the Goldstorm deposit. 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.
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