(TheNewswire)
Vancouver, Canada – TheNewswire – January 20,2022 –– Teuton ResourcesCorp. (“Teuton” or “the Company”) (TSXV:TUO) (OTC:TEUTF) (Frankfurt:TFE) announces that Optimum Ventures Ltd. (“Optimum”),optionee of the Company’s Harry property, has reported partial assayresults from surface sampling. The property is located 25km north ofStewart, British Columbia, adjoining the Premier-Dilworth property ofAscot Resources to the west.
The 2021 work was successful in identifying a number ofnew structures as shown on the attached maps (see URLs at the end ofthe release). Highlights of sampling indicate:
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Six separate quartz-sulphide structures in a smallnortheastern part of the claim area.
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Discovery of the new Swann zone several hundred metersfrom the Milestone showing. (The Milestone was found in 2020 and ran7.86 oz/ton gold over 2.0m).
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Identification of fine visible gold in semi-massive tomassive sulphide in the Swann zone (assays pending)—2 nd visible goldoccurrence found on the property to date.
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Identification of Premier porphyry intrusive in contactwith mineralized zones (similar to the host rock of the Premier golddeposit).
The property features several 500m wide zones ofintense alteration that trend northwest along the length of the claim.Within this intense alteration, sericite along with abundant pyrite isprevalent. Surface exploration completed in late 2021 on a smallportion of the Harry property, less than 10% of the claims area,indicates that sulphide zones occur within quartz bearing structurestrending both east-west (south dip) and northwest structures dippingeast. At intersection points, semi-massive to massive sulphides occur,namely sphalerite, galena, tetrahedrite, chalcopyrite and pyrite. Finevisible gold is occasionally present within the massivemineralization.
In 2020, a new zone of mineralization in quartzbreccias, called the “Milestone” was discovered on the HarryProperty. Teuton prospectors reported a trench sample averaging 7.86ounces per ton gold (269.5 g/t) across a 2 metre width. The fullwidth of this new zone has not been defined due to overburdencover.
The 2021 program funded by Optimum consisted of surfacesampling any newly located structures in the area of the Milestoneshowing. A total of 50 samples were collected with assay resultsreceived for the first 38 samples. Values ranged from 0.01 to 23.30g/t Au and 0.02 to 3,379 g/t Ag.
Assay results from part of the 2021 sampling arehighlighted, below:
Program Highlights (See URL for sampling map and mineralized zones at the endof this release):
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Up to 23 g/t Au and 2,995 g/t Ag in composite grabA21-2A
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Up to 11 g/t Au and 3,739 g/t Ag in grab A21-3
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Up to 5.5 g/t Au and 270 g/t Ag in a 0.4m chipA21-5
Optimum reports it is awaiting further results of thesampling. Laboratories have experienced delays due to large amountsof samples submitted by companies as well as labor shortage.
The Harry Property consists of three contiguous claimsthat cover a gross area of approximately 1,333 hectares. As per theDecember 1, 2020 National Instrument 43-101 Technical Report on theHarry Property (available at: https://sedar.com underOptimum Ventures Ltd.) the majority of the Property lies along thenorthwest portion of a geological corridor prospective for gold-silvermineralization. This corridor is up to 3km wide and at least 15kmlong, extending from south of the Premier Mine north to the ScottieGold Mine and beyond. The Harry property is situated near developedinfrastructure such as a year-round road, a powerline, and an ice-freeport in Stewart.
A technical reportprepared on the Harry property outlines a recommended Phase 1exploration program intended to generate targets which subsequentlywill be drill tested, consisting of rock sampling, geological mapping,geophysical surveys, drilling and core cutting at an estimated cost of$500,000. Optimum Ventures reports it has begun the recommendedprogram and intends to complete the rest of Phase 1 beginning in thesecond quarter of 2022.
D. Cremonese, P. Eng., President of Teuton Resourcescommented as follows: “The discovery of a second zone containingvisible gold is very encouraging, particularly considering that thesurface sampling program was not large. Finding silvermineralization running as high as 3,700 g/t to accompany the goldvalues was also noteworthy. The discovery of “Premier Porphyry”spatially associated with the mineralization suggests a similarenvironment to that found at the nearby, formerly producing, Premiergold mine.”
Analyses were performed by MSA Laboratories Ltd. inLangley, BC, an accredited facility. EdKruchkowski, P. Geo. , a qualified person underNational Instrument 43-101 for Optimum Ventures is responsible for thecontents of this release. D. Cremonese, P. Eng., is the QualifiedPerson for Teuton Resources. He has not independently verified theassay results but has no reason to believe they are inaccurate. Mr.Cremonese, as President of Teuton Resources, is not independent of theCompany.
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 $4 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.
Interested parties can access information about Teutonat the Company’s website, www.teuton.com .
URL for maps:
http://teuton.com/HarrySurfaceMap
http://teuton.com/HarryMinOccurrencesMap
http://teuton.com/HarryMinDepositsClaimsMap
Respectfully submitted ,
"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 VentureExchan genor its Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
Cautionary Statements regardingForward-Looking information
Certain statements contained in thispress release constitute forward-looking information. These statementsrelate to future events or future performance. The use of any of thewords "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 futureplans, objectives or expectations of the Company are forward-lookingstatements that involve various risks and uncertainties. There can beno assurance that such statements will prove to be accurate and actualresults and future events could differ materially from thoseanticipated in such statements. Important factors that could causeactual results to differ materially from the Company's plans orexpectations include risks relating to the actual results of currentexploration activities, fluctuating gold prices, possibility ofequipment breakdowns and delays, exploration cost overruns,availability of capital and financing, general economic, market orbusiness conditions, regulatory changes, timeliness of government orregulatory approvals and other risks detailed herein and from time totime in the filings made by the Company with securities regulators.The Company expressly disclaims any intention or obligation to updateor revise any forward-looking statements whether as a result of newinformation, future events or otherwise except as otherwise requiredby applicable securities legislation .
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