(TheNewswire)
Wedge Hole GS-23-168-W1 Currently atDepth of 1,900 m Drilling Through a Strongly Mineralized Area of the CS-600 Zone
July 11, 2023 – TheNewswire - Victoria , Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (TSXV:TUO) (Frankfurt:TFE) announces that it has received the first set ofdrill results for the 2023 exploration at the Treaty Creek property,Golden Triangle, northwest British Columbia from its joint venturepartner, Tudor Gold (Operator of the Treaty Creek Project).
Since the beginning of this year’s Program, TudorGold has successfully completed over 12,000 meters (m) of drillingwithin areas encompassing the Goldstorm Deposit and the PerfectstormZone. The five drill holes reported in this release are located in thenortheastern area of the Goldstorm Deposit. [URLs for a plan mapand cross sections can be found at the end of this release.]
Ken Konkin, President and CEO ofTudor Gold commented as follows: “We are verypleased to report the discovery of continued strong gold, silver, andcopper mineralization outside the previously defined resource areawith 150-m step-out holes GS-23-164 and GS-23-167. The overallstrength and consistency of the Goldstorm system continues to amazeour technical team as the deposit remains open in all directions andat depth. Our continued success of these critical first-round resultshas prompted us to build several more drill pads designed to test allnorthern aspects to all domains as there appears to be no end in-sightto the Goldstorm Au-Cu-Ag mineralization as of yet. Equally importantwas the success of definition hole GS-23-168 within a vast block ofthe 300H Domain. The goal is to increase drilling density topotentially upgrade this large block into the Indicated category fromthe Inferred category of the Mineral Resource. GS-23-168 intersected 309.0 m of 1.02 g/t AuEqincluding an enriched portion averaging 1.40 g/t AuEq over 204.0 m,with a core of 1.99 g/t AuEq over 75 m. Based onthese very encouraging results, we have decided to pursue the northernaspects of the Goldstorm Deposit with five drill rigs, leaving oneexploration rig to further drill-test the Perfectstorm Zone.”
GOLDSTORM DEPOSIT STEP-OUTDRILLING
SECTION 119+50 NE
GS-23-164, a150 m northeast step-out was drilled to target the gold-dominant DS-5Domain. Mineralization was encountered over a length of 412.5 m grading 1.01 g/t AuEq (0.93 g/t Au,6.26 g/t Ag, 0.01 % Cu), containing ahigher-grade intercept of 124.5 m grading 1.51 g/t AuEq (1.38 g/t Au, 11.54 g/t Ag, 0.01%Cu) with a very rich segment over 7.5 m of 11.56 g/t AuEq (11.46 g/t Au, 9.34 g/t Ag,0.01 % Cu). The DS-5 Domain remains open to thenorth and northeast. Another step-out drill pad was constructed 150 mto the north of this drill hole to allow continued exploration of theDS-5 Domain and the gold-copper dominant CS-600 Domain.
GS-23-167, a150-m northeast step-out of the CS-600 Domain was drilled to expandthe domain outside the northeastern edge of the 2023 Mineral Resourcearea. The drill hole returned an intercept of 337.5 m averaging 1.31 g/t AuEq (0.87 g/tAu, 6.89 g/t Ag, 0.32 % Cu) with an enrichedzone of 94.5 m averaging 1.80g/t AuEq (1.14 g/t Au, 9.87 g/t Ag, 0.47 % Cu). Additional step-out drill holes have been completed, or are currentlyunderway, to continue expanding the CS-600 Domain (GS-23-169,GS-23-170, GS-23-172). Assays will be released when they are receivedand reviewed.
GOLDSTORM DEPOSIT DEFINITION ANDINFILL DRILLING
SECTION 117+00 NE
GS-23-168: Thishole intercepted unexpected 300-H Domain mineralization. Starting at462 m, an intercept over a drill length of 309.0 m averaged 1.02 g/t AuEq (0.96 g/tAu, 4.62 g/t Ag, 0.01 % Cu) with an enrichedsegment of 27.0 m grading 3.15g/t AuEQ (3.07 g/t Aq, 6.80 g/t Ag, 0.01 % Cu). This hole was shut down and had a wedge set at 684 m downhole to improve its target of the CS-600 Domainat depth. This wedged drill hole, GS-23-168-W1 , is currently at a depth of 1900m, drilling through a strongly mineralized area of the CS-600Domain .
GS-23-163, GS-23-165: These drill holes were not sampled and shutdown early due toexcessive drill hole deviation. Their original target was re-drilledas hole GS-23-168.
Table 1: Drilling Results forGoldstorm Deposit in Press Release July 11, 2023
Section | Hole | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu (%) | AuEQ (g/t) |
119+50 NE | GS-23-164 | 622.50 | 1035.00 | 412.50 | 0.93 | 6.26 | 0.01 | 1.01 |
including | 870.00 | 994.50 | 124.50 | 1.38 | 11.54 | 0.01 | 1.51 | |
including | 889.50 | 897.00 | 7.50 | 11.46 | 9.34 | 0.01 | 11.56 | |
and | 1117.50 | 1147.50 | 30.00 | 0.95 | 5.11 | 0.02 | 1.02 | |
GS-23-167 | 880.50 | 1218.00 | 337.50 | 0.87 | 6.89 | 0.32 | 1.31 | |
including | 1042.50 | 1137.00 | 94.50 | 1.14 | 9.87 | 0.47 | 1.80 | |
117+00 NE | GS-23-163 | Hole abandoned, not sampled | ||||||
GS-23-165 | Hole abandoned, not sampled | |||||||
GS-23-168 | 462.00 | 771.00 | 309.00 | 0.96 | 4.62 | 0.01 | 1.02 | |
including | 534.00 | 738.00 | 204.00 | 1.32 | 6.51 | 0.02 | 1.40 | |
including | 562.50 | 637.50 | 75.00 | 1.94 | 4.22 | 0.01 | 1.99 | |
including | 610.50 | 637.50 | 27.00 | 3.07 | 6.80 | 0.01 | 3.15 | |
All assay values are uncut and intervals reflect drilled interceptlengths. HQ and NQ2 diameter core samples were sawn in half and typicallysampled at standard 1.5m intervals. The following metal prices were used to calculate the Au Eq metalcontent: Gold $1800/oz, Ag: $20/oz, Cu: $3.5/lb. Calculations used theformula AuEq = Au g/t + (Ag g/t*0.0098765) + (Cu ppm*0.0001185). Allmetals are reported in USD and calculations consider recoveries of 90% for gold, 80 % for copper, and 80 % for silver. True widths have not been determined as the mineralized body remainsopen in all directions. Further drilling is required to determine themineralized body orientation and true widths. |
Table 2: Drill data for holes inPress Release July 11, 2023
Section | Hole ID | UTM E NAD 83 | UTM N NAD 83 | Elevation (m) | Azi (?) | Dip (?) | Depth (m) |
119+50 NE | GS-23-164 | 429366 | 6273405 | 1182 | 292 | -78 | 1188 |
GS-23-167 | 429026 | 6273660 | 1495 | 300 | -76 | 1218 | |
117+00 NE | GS-23-163 | 428925 | 6273439 | 1397 | 281 | -54 | 234 |
GS-23-165 | 428925 | 6273439 | 1397 | 288 | -56 | 321 | |
GS-23-168 | 428925 | 6273439 | 1397 | 288 | -58.7 | 1059 |
Qualified Person
The Qualified Person for this news release for thepurposes of National Instrument 43-101 is Tudor Gold’s President andCEO, Ken Konkin, P.Geo. He has read and approved the scientific andtechnical information that forms the basis for the disclosurecontained in this news release. Dino Cremonese, P. Eng., is theQualified Person for Teuton Resources Corp. and as he is the CEO ofTeuton he is not independent of the Company. Although he has notverified the information contained in this release, he has no reasonto 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.
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/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)
Figures
URL for plan map and cross sections:
http://teuton.com/TreatySections0723
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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