(TheNewswire)
Vancouver, Canada – TheNewswire – February 1,2024 –– Teuton ResourcesCorp. (“Teuton” or “the Company”) (TSXV:TUO) (Frankfurt:TFE) has received an update on the recentidentification of a high-grade gold system within the GoldstormDeposit and a brief overview of the successful expansion of theGoldstorm Domains from Tudor Gold’s 2023 drill program (the“ Program ”) at the Treaty Creek Project, located in the heart of theGolden Triangle of Northwestern British Columbia. Tudor Gold is theOperator of the Treaty Creek Joint venture in which Teuton Resourcesholds a 20% carried interest (carried until a production decision) aswell as a 0.98% net smelter royalty in the Goldstorm Deposit.
Ken Konkin, President and CEO of Tudor Gold commented:“We are extremely pleased to announce that we have delineated ahigh-grade gold system associated with a quartz-dominant veinlet andstringer stockwork system, named Supercell One (SC-1). This representsa significant economic target within the CS-600 domain. Our currentMineral Resource Estimate (MRE) caps gold equivalent (AuEq) grades at8.0 g/t AuEq and therefore does not include these higher grades. Ourcurrent concept is that the SC-1 system, like the higher-grade R-66domain, may represent a late-stage gold-dominant event that, in part,over prints the primary mineralization of the Goldstorm Deposit. Thisis significant, as these smaller, higher-grade systems have thepotential to streamline start-up plans, allowing for rapid extractionof gold with the possibility of substantially lower capitalexpenditures compared to a much larger conceptual bulk tonnageoperation.
Additionally, our technical team has completed thegeologic modelling and domain delineation with the incorporation ofthe 2023 drilling data. Updated mineral domains show significantexpansion of the Goldstorm Deposit in several areas [see URL at theend of this release for plan maps and cross sections of the SC-1 andthe expanded domains]. These maps indicate how the drilling conductedin 2023 has the potential to convert several areas of the deposit fromInferred Mineral Resources to Indicated Mineral Resources. Despite theaggressive exploration and expansion of the Goldstorm Deposit, itremains open in all directions and at depth. The Company is currentlyin the process of updating the MRE for the Goldstorm Deposit and isexpected to release the updated MRE within Q1 of 2024.”
Supercell One (SC-1) Characteristics and Intercepts
Minor pyrite and chalcopyrite are observed withfine-grained visible native gold within the newly crowned SC-1 system,which is contained within the CS-600 Domain. Three drill holes areinterpreted to have intersected this structural corridor that containssignificant quartz-sulphide breccia. Two of the three holes werecompleted late during the 2023 exploration campaign while thediscovery hole, GS-22-134 ( 20.86 g/t AuEq over 4.5 m within a 25.5 m zone of 9.96AuEq) , was completedduring the 2022 drilling campaign. Drill hole GS-23-176-W1( 15.64 g/t AuEq over 15.0m ) was designed as an offset step-out hole tothe impressive gold intercept obtained within GS-22-134. With thethird drill hole, GS-23-179 ( 10.07 g/t AuEq over 12.0 m ), a northeaststep-out, our technical crews were able to validate the SC-1 system,tracing SC-1 up-dip from GS-22-134 and GS-23-176-W1. To date, thehigh-grade gold-bearing, breccia stockwork system measuresapproximately 400 m down plunge and over 300 m along a northeasternaxis. The true width of the mineralized structure is currentlyunknown.
Drill-hole highlights from SC-1 include the followingintercepts:
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GS-22-134: 25.5m of 9.96 g/t AuEq (9.66 g/t Au, 1.23 g/t Ag,0.24 % Cu)
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GS-23-176-W1: 15.0 m of 15.64 g/t AuEq (14.89 g/t Au, 4.72g/t Ag, 0.60 % Cu)
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GS-23-179: 12.0m of 10.07 g/t AuEq (9.78 g/t Au, 1.35 g/t Ag,0.23 % Cu)
Qualified Person
Mr. Ken Konkin, P. Geo., is the QP for Tudor Gold Corp.and has approved the technical information disclosed in a February 1,2024 news release by Tudor Gold, which includes the same technicalinformation contained within this release. D. Cremonese, P. Eng., isthe Qualified Person for Teuton Resources Corp. (as President of theCompany he is not independent of the Company). Mr. Cremonese has notpersonally verified the technical data taken verbatim from the TudorGold news release but he has no reason to doubt its accuracy.
QA/QC
Diamond drill core samples were prepared at MSA Labs’Preparation Laboratory in Terrace, BC and assayed at MSA Labs’Geochemical Laboratory in Langley, BC. Analytical accuracy andprecision are monitored by the submission of blanks, certifiedstandards and duplicate samples inserted at regular intervals into thesample stream by Tudor Gold personnel. MSA Laboratories quality systemcomplies with the requirements for the International Standards ISO17025 and ISO 9001. MSA Labs is independent of Tudor Gold and theCompany.
About TreatyCreek
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 inthe Treaty Creek Project (Tudor Gold is responsible for paying allexploration costs up until such time as a production decision is madeand owns a 60% interest; American Creek Resources owns the remaining20% interest, also carried). Additionally, Teuton owns a 0.98% NetSmelter Royalty in the Goldstorm deposit area as well as in thenorthern portion of the Perfectstorm zone; within the southern portionof the Perfectstorm zone, Teuton owns a 0.49% NSR with an option toincrease that to 1.49% by paying $1 million to the current owner. Italso owns numerous additional royalty interests within the SulphuretsHydrothermal system on formerly 100%-owned properties such as the KingTut, Tuck, High North, Orion, Delta and Fairweather properties (KingTut and Tuck now owned by Newmont Mining; High North, Orion, Delta andFairweather properties now owned by Goldstorm Metals).
The Treaty Creek Project contains the Goldstorm Deposit(a large gold-copper porphyry system) as well as several othermineralized zones. As disclosed in the March 2023 News Release, theGoldstorm Deposit has an Indicated Mineral Resource (as defined in NI43-101) of 23.37 Moz of AuEq grading 1.13 g/t AuEq (18.75 Moz goldgrading 0.91 g/t, 2.18 Blbs copper grading 0.15 %, 112.4 Moz silvergrading 5.45 g/t) and an Inferred Mineral Resource (as defined in NI43-101) of 7.35 Moz of AuEq grading 0.98 g/t AuEq (5.54 Moz goldgrading 0.74 g/t, 0.85 Blb copper grading 0.16 %, 45.08 Moz silvergrading 5.99 g/t), with a pit constrained cut-off of 0.5 g/t AuEq andan underground cut-off of 0.7 g/t AuEq. The Goldstorm Deposit has beencategorized into three dominant mineral domains and several smallermineral domains. The CS-600 domain largely consists of an intermediateintrusive stock and hosts the majority of the copper mineralizationwithin the Goldstorm Deposit. CS-600 has an Indicated Mineral Resourceof 9.86 Moz AuEq grading 1.10 g/t AuEq (6.22 Moz gold grading 0.70g/t, 1.98 Blbs copper grading 0.32 %, 51.1 Moz silver grading 5.71g/t) and an Inferred Mineral Resource of 3.71 Moz AuEq grading 1.19g/t AuEq (2.32 Moz gold grading 0.75 g/t, 0.76 Blb copper grading 0.36%, 18.71 Moz silver grading 6.01 g/t). The Goldstorm Deposit remainsopen in all directions and requires further exploration drilling todetermine the size and extent of the deposit.
1 AuEq = Aug/t + (Ag g/t*0.0098765) + (Cu ppm*0.0001185)
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. This model minimizesshare equity dilution while at the same time maximizing opportunity. Earnings provided from option payments received, both in cash and inshares of the optionee companies over the past 7 years, has providedTeuton with substantial income.
Plans Maps/Cross-Sections:
On Behalf of the Board of Directorsof Teuton Resources:
"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: bholmesmba@gmail.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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