(TheNewswire)
Vancouver, Canada – TheNewswire – June 28, 2021 - TeutonResources Corp. (“Teuton” or “the Company”) (TSXV:TUO) (OTC:TEUTF) (Frankfurt:TFE) ispleased to report that the Eskay Rift property was permitted fordrilling in June, 2021. It lies just to the south of theSulphurets Hydrothermal System as shown in the attached map entitled“Elephants of the Sulphurets Hydrothermal System” (see URL at theend of the news release).
In 2018, Teuton commissioned a Geotech ZTEM survey overa large area, the eastern part of which included the Eskay Riftproperty. Geotech, in a report summarizing its findings said thefollowing: “The 3D ZTEM inversion results reveal the presence ofnumerous conductive anomalous features characterized by lowerresistivity values by contrast to the host rocks. Most of theseconductors are linear in shape and are striking in various directions.Among them, a number are selected for copper-gold targeting purposesand these are labelled with the letter “Z”.
The key criteria for copper-gold target selectionwithin these properties are summarized in the following points:
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1- Association with zones ofresistivity low; this is typical to porphyry-style mineralization andrelated alteration zones. The resistivity low may also be indicativeof intense phyllic/argillic/propylitic/pyritic alterationzones;
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2- Structurally controlled byfault and shear zones;
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3- Association with magnetic lowsin case of the presence of magnetite-destructive alteration typical toporphyry mineralization types;
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4- Association with deep-seatedfault zones that may serve as conduits for mineralized hydrothermalfluids;
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5- Association with resistivefeatures surrounded by conductive zone;
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6- Occurring within areas ofstructural complexity.”
Geotech’s first Priority-1 Target called the “Z1”has been selected for drilling by Teuton Resources in 2021. The Z1target strikes northeast over a distance of ? 1.5 km and has an estimatedresistivity of < 20 ohm-m at a depth of 500m. The most intenseportion of the anomaly covers a vertical distance of 750m and it dipsto the northwest from near surface along a slope of over 2km. Geotech states: “It occurs within a zone of complex structuralpattern and represents probably a link to [an] intense alteration zonethat may host Cu-Au mineralization”. [ZTEM™ Inversion ResultsSUMMARY OF INVERSION PROCEDURE AND INTERPRETATION RESULTS Z-AXISTIPPER ELECTROMAGNETIC (ZTEM™) AND AEROMAGNETIC GEOPHYSICAL SURVEYJanuary 2019 -- Geotech
Teuton has already signed a drill contract and is readyto mobilize as soon as weather conditions permit. Other targets onthe property such as the Z2 and Z3 may also be drilled if time andweather logistics warrant. The Z3 extends for over 3km and consistsof a conductive mag high which could representmassive sulphide or BIF [banded iron formation] mineralizationaccording to the Geotech report.
Qualified Person
Dino Cremonese, P. Eng. Is the Qualified Person forTeuton Resources; as President and CEO he is not independent of theCompany. He has reviewed and approved the scientific and technicaldisclosure in this news release.
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. Teuton earned $3.9 million net income in 2020 and a further $2.4million in the first quarter of 2021. Its income is derived fromoption payments.
Teuton was the original staker of the Treaty Creekproperty assembling the core land position in 1985. It presentlyholds a 20% carried interest in Treaty Creek (carried until such timeas a production decision is made). Interested parties can accessinformation about Teuton at the Company’s website, www.teuton.com .
URL for map: http://teuton.com/ElephantsoftheSHS
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
Director Corporate Development andCommunications
Tel. 778-430-5680
Email: barry@teuton.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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