(TheNewswire)
Vancouver, Canada – TheNewswire – June 18, 2024 –– Teuton Resources Corp. (“Teuton” or “the Company”) (TSXV:TUO) (Frankfurt:TFE) is pleased to report that Project Operator andJoint Venture (“JV”) partner Tudor Gold ("Tudor") hasannounced a strategic plan for the upcoming yearcentered on the Treaty Creek gold and copper project, located in theGolden Triangle of British Columbia.
Key Objectives ofthe Strategic Plan
Over the next 12 months, Tudor Gold expects to completethe following objectives:
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Continue the ongoing exploration and definitiondrilling program in Q3 2024 and report on results;
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Advance the metallurgical program and provide theresults of this test work in 2024;
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Proceed with preliminary permitting and environmentalrequirements; and,
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Complete a Preliminary Economic Assessment by Q22025.
DrillingUpdate
On May 9, 2024, Tudor Gold initiated a 10,000-meter (m)diamond drilling program at the Goldstorm Deposit, with the primarygoal of expanding and upgrading the Mineral Resource Estimate releasedearly this year ( April 8, 2024 news release). To date, approximately 4,000 m of drilling, includingtwo drill holes, have been completed on schedule. The first holeGS-24-181 intersected fine to medium-grained visible native gold at810.5 m. It is believed that this mineralization could be associatedto the 300N mineral domain and possibly represents a series ofparallel high-grade structures similar to Supercell One (SC-1). Clickon the following link to view a photo of the core .
The current drilling program is concentrated onstep-out and in-fill drilling within the high-grade SC-1 system, agold-dominant, quartz-sulfide, breccia-hosted structural corridor.This system remains open to the northwest, north, and east. Tudor Goldplans to further explore this higher-grade zone with continueddrilling. Results from the recently completed drill holes will beshared as soon as assay data is received.
Previous drillingresults from SC-1 in 2022 and 2023 include the following high-gradegold intercepts:
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Hole GS-23-176-W1: 15.00 m @ 15.64 grams/tonne (g/t) gold equivalent(AuEQ) (14.89 g/t gold (Au), 4.72 g/t silver(Ag), 0.60% copper (Cu))
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Hole GS-22-134: 25.50 m @ 9.96 g/t AuEQ (9.66 g/t Au, 1.23 g/tAg, 0.24% Cu)
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Including 4.50m @ 20.86 g/t AuEQ (20.61 g/t Au, 1.50 g/t Ag,0.20% Cu)
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Hole GS-23-179: 12.00 m @ 10.07 g/t AuEQ (9.78 g/t Au, 1.35g/t Ag, 0.23% Cu)
Click the following links to view the correspondingSC-1 plan view map and drill sections .
MetallurgicalStudies on the Goldstorm Deposit
The Company is confident that further metallurgicaltesting will continue to improve on the Goldstorm Deposit. Previously,flotation testing demonstrated that the CS-600 domain can produce aquality copper concentrate with significant quantities of gold.
The ongoing phase of metallurgical test work on theGoldstorm Deposit is progressing well and is focused on improving theoutcomes achieved in the previously reported program conducted by Blue Coast Research Ltd.(BCR), under the supervision of Tad Crowie, P. Eng of JDS Energy &Mining Inc. This phase of testing is expected to provide informationto be used in a Preliminary Economic Assess mentand includes comminution, follow up flotation tests, alternate formsof oxidation, and leaching tests to recover copper and gold.
PreliminaryEconomic Assessment and Environmental Studies
The initiation of a Preliminary Economic Assessment(PEA) for Treaty Creek’s Goldstorm Deposit is expected to begin inthe next quarter, with Tudor Gold aiming to complete this study by Q22025. The PEA is anticipated to detail a phased production strategyfocusing on exploiting high-grade areas or supercells of the GoldstormDeposit to maximize the internal rate of return (IRR). To ensureaccuracy of the PEA, Tudor Gold will continue to optimize the projectand develop a comprehensive strategy to facilitate the permittingprocess for implementing the best mining methods and phased productionstrategy. Efforts will also be made to define precise cost estimatesto ensure that projected capital expenditures align withprefeasibility study standards, strengthening the project's economicviability and credibility. Additionally, the PEA is expected toestablish work programs to guide Tudor Gold towards subsequent stages,including a detailed prefeasibility study to be completed in thefuture.
Continued environmental studies are being conducted toassist in the economic evaluation and permitting process for theTreaty Creek Project.
Quality Assuranceand Control
Ken Konkin, P.Geo, President and CEO, Tudor Gold, isthe Qualified Person, as defined by National Instrument 43-101,responsible for the Treaty Creek Project (Under the terms of the JointVenture, Tudor Gold is solely responsible for funding and carrying outwork at Treaty Creek until such time as a production decision ismade). Mr. Konkin has reviewed, verified, and approved thescientific and technical information in the Tudor Gold news releasedated June 18, 2024. Technical information as presented in this newsrelease by Teuton Resources is consistent with that published in theTudor Gold release of June 18, 2024.
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
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 8 years, has providedTeuton with substantial income.
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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