(TheNewswire)
June 28, 2023 – TheNewswire - Victoria , Canada –– Teuton Resources Corp.(“Teuton” or “the Company”) (TSXV: TUO ) (Frankfurt: TFE ) announces that ithas received a report from its Joint Venture Partner Tudor Gold Corp.(“Tudor Gold”) stating that drilling hascommenced at the Perfectstorm Zone as part of the ongoing 25,000 meter(m) diamond drill program (the "Program") at Treaty Creek(the “Property”), situated in the heart of the Golden Triangle innorthwestern British Columbia. Since the beginning of this year’sProgram, Tudor Gold has successfully completed over 10,000 m ofdrilling, including infill and step-out holes within the area thatencompasses the main Goldstorm Deposit.
Tudor Gold currently has six drill-rigs in operationwith four of these drill-rigs continuing to target mineralization atthe Goldstorm Deposit. An additional drill rig was mobilized to testthe northeastern extents of the Goldstorm Deposit, while the6 th drill rig is focused on the Perfectstorm Zone. [For a visualrepresentation of the drill hole locations at Goldstorm, please referto the URL “GSPlanView” listed at the end of this release.]
Ken Konkin,President and CEO of Tudor Gold , commented as follows : “We are very excitedto begin drilling at Perfectstorm, which is positioned equidistantbetween Tudor Gold's Goldstorm Deposit and Seabridge Gold's Iron CapDeposit (see URL “TCPlanView” at end of release). Drilling atPerfectstorm will build upon the progress made through previousinitial drilling of six wide-spaced drill holes spanning a strikelength of 1.3 kilometers. These holes successfully interceptedsubstantial widths of favorable gold, silver, and coppermineralization. Notable results include hole PS-21-06, whichencountered 118.6 m averaging 0.66 g/t gold. These results include anuppermost portion averaging 0.84 g/t gold over 59.9 m. Given that onlya small portion of the targeted magnetic anomaly has been explored atPerfectstorm, there is immense potential for a significant expansionof the mineralized area, thus making it a valuable addition to theTreaty Creek Project. The first of several planned drill holes will becollared at least 400 m west and west-northwest of PS-21-06 over thebest surficial gold-geochemical rock sample results obtained from ourlast two years of surficial mapping and sampling programs.
“Additionally, the drilling program at the GoldstormDeposit has progressed exceptionally well this season. Several early150 to 200 m step-out holes in the northern and northeastern area haveintersected substantial sulphide and sulfosalt mineralization. As aresult, the technical team has decided to construct new drill pads upto 300 m to the northeast, to target the potential extension of thedeposit with the fifth drill rig. The expansion of the CS-600 and DS5domains in this direction indicates further growth opportunities forthe project as we are now drilling at full capacity with all sixdrill-rigs.”
Tudor Gold will provide results from the Program oncethe final assays are received and compiled.
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. It also owns numerousadditional royalty interests within the Sulphurets Hydrothermal systemon properties such as the King Tut, Tuck, High North, Orion, Delta andFairweather properties.
The Treaty Creek Project hosts the Goldstorm Deposit,comprising a large gold-copper porphyry system, as well as severalother mineralized zones. As disclosed in the March 2023 News Release,the Goldstorm Deposit has an Indicated Mineral Resource (as defined inNI 43-101) of 23.37 Moz of AuEq grading 1.13 g/tAuEq (18.75 Moz gold grading 0.91 g/t, 2.18 Blbs copper grading 0.15%, 112.4 Moz silver grading 5.45 g/t) and an Inferred Mineral Resource(as defined in NI 43-101) of 7.35 Moz of AuEq grading 0.98 g/t AuEq(5.54 Moz gold grading 0.74 g/t, 0.85 Blb copper grading 0.16 %, 45.08Moz silver grading 5.99 g/t), with a pit constrained cut-off of 0.5g/t AuEq and an underground cut-off of 0.7 g/t AuEq. The GoldstormDeposit has been categorized into three dominant mineral domains andseveral smaller mineral domains. The CS-600 domain largely consists ofan intermediate intrusive stock and hosts the majority of the coppermineralization within the Goldstorm Deposit. CS-600 has an IndicatedMineral Resource of 9.86 Moz AuEq grading 1.10 g/t AuEq (6.22 Moz goldgrading 0.70 g/t, 1.98 Blbs copper grading 0.32 %, 51.1 Moz silvergrading 5.71 g/t) and an Inferred Mineral Resource of 3.71 Moz AuEqgrading 1.19 g/t AuEq (2.32 Moz gold grading 0.75 g/t, 0.76 Blb coppergrading 0.36 %, 18.71 Moz silver grading 6.01 g/t). The GoldstormDeposit remains open in all directions and requires furtherexploration drilling to determine the size and extent of thedeposit.
1 AuEq = Aug/t + (Ag g/t*0.0098765) + (Cu ppm*0.0001185)
Figures
http://teuton.com/GSPlanViewDrill0623
http://teuton.com/TCPlanView0623
http://teuton.com/PSCrossSection0623
http://teuton.com/PSPlanView0623
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, minimizing shareequity dilution while at the same time maximizing opportunity. Earnings provided from option payments (received in cash and oftenalso in shares of the optionee companies), have provided substantialincome to Teuton.
Interested parties can access information about Teutonat the Company’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
Corporate Development and Communications
Tel. 778-430-5680
Email: bholmesmba@gmail.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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