(TheNewswire)
5,400 Metres Drilled to Date
June 6, 2023 – TheNewswire - Victoria , Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (TSXV:TUO) (Frankfurt:TFE) announces that it has received a report from itsJoint Venture Partner Tudor Gold Corp. (“Tudor Gold”) stating that drilling progress has been made on its 2023exploration program (the “ Program ”) at the Treaty Creek Joint Ventureproperty, located in the Golden Triangle of Northwest BritishColumbia.
To date, the Tudor Gold has successfully completed over5,400 meters of infill and step-out drilling, which forms part of alarger diamond drilling campaign spanning at least 25,000 meters.Currently, there are four drill-rigs in operation. [For plan view,click here: http://teuton.com/PlanView0623 ].
The first hole of the season, GS-23-164 , a150-meter step-out to the northeast has successfully reached itsintended depth, intersecting the DS-5 Zone. This intersection revealedmineralization and veining from 558 m to 1,083 m, including aconsistently observed, strongly altered, stockwork vein zone from 885m to 972 m, similar to previous DS-5 holes.
Another noteworthy drill-hole GS-23-167 , a170-meter step-out, recently entered the CS-600 Zone interceptingdisseminated chalcopyrite with minor copper sulphosalts and severalsemi-massive chalcopyrite veinlets associated with strongsilicification and potassic alteration. [For core photos, clickhere: http://teuton.com/CorePhotos0623 ]. The Goldstorm system is now approaching 2,000 meters inlength along the NE axis and remains open in all directions and atdepth.
Based on the exciting results of holes GS-23-164 andGS-23-167, another step-out drill hole, GS-23-169, wascollared and is currently at 357 m of a planned 1200 m depth targetinga further 150 m NE step out from GS-23-167 of the CS-600 Zone. Furthermore, the technical team is planning to construct twoadditional drill pads for future drilling activities located atapproximately 150 and 300 meters further to the northeast. These newdrill pad locations will enable continued exploration of gold-coppermineralization targeting the north and northeast extensions of theCS-600 and DS-5 zones.
In addition to the step-out holes, two infill holes arecurrently targeting areas of the Goldstorm Deposit to convert inferredresources to the indicated category. Hole GS-23-166-W1 , isat 570 m of a planned 1150 m depth and targeting a pocket of inferredCS-600 ounces, as well as a northward expansion of the DS-5 zone. Hole GS-23-168 is at 1008 m of a planned 1800 m depth and targeting thedeep CS-600 zone infilling between holes GS-22-157 and GS-21-113-W2.
Results from the Program will be provided by Tudor Goldonce final assays are received and compiled.
Ken Konkin,President and CEO of Tudor Gold, commented: “The safe and efficient start-up of 2023 exploration campaign hasbeen a huge success. We thank our good neighbours at the BrucejackMine for allowing our ground crews to mobilize drills, equipment andsupplies over our winter road by utilizing the Brucejack Mine accessroad. We have successfully completed this exercise over that past fewyears and we very much appreciate the assistance to allow our crews tosafely get the job done. The recent drill intercept in ournortheastern most hole GS-23-167 has prompted our technical team toconstruct more drill pads to target the northeastern aspect of thedeposit as clearly the CS-600 domain continues to expand in thisdirection. Pad builders are now completing several set-ups for thetwo-remaining drill-rigs that are committed to drill the PerfectstormZone which lies equi-distant between our Goldstorm Deposit andSeabridge Gold’s Iron Cap Deposit. We anticipate the start-up of thetwo rigs at Perfectstorm over the next 2-3 weeks.”
The Program
The 25,000 m diamond drilling program at Treaty Creekhas been designed to test the north and northeast mineral extensionsof the Goldstorm Deposit where drilling in 2021 and 2022 interceptedthe highest grades of gold, copper and silver mineralization at theTreaty Creek Project. These results contributed to a significantlyupgraded Mineral Resource Estimate, which reported an IndicatedMineral Resource of 23.37 million ounces (Moz) of gold equivalent(AuEQ) grading 1.13 g/t AuEQ and an Inferred Mineral Resource of 7.35Moz of AuEQ grading 0.98 g/t AuEQ. In addition to the northernstep-out drilling at the Goldstorm Deposit, Tudor Gold plans to carryout exploration drilling at the Perfectstorm Zone (“PSZ”) tofollow up on six drill holes that were drilled in 2020 and 2021 whichall intercepted gold and silver mineralization, highlighted by holePS-21-06 which returned 118 m of 0.66 g/t gold, 3.69 g/t silverincluding 31.5 m of 0.84 g/t gold, 6.09 g/t silver. PSZ is agold-dominant mineralized system measuring 1.3 kilometers (km) instrike length and is located approximately 2.5 km southwest of theGoldstorm Deposit and approximately 2.5 km northeast of SeabridgeGold’s Iron Cap Deposit near the southwestern boundary of the TreatyClaim block.
QualifiedPerson
The Qualified Person for this news release for thepurposes of National Instrument 43-101 – Standards of Disclosure forMineral Projects (“NI 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; although he has notindependently verified the technical information contained in thisnews release, he has no reason to believe it is not reliable; asPresident and CEO of Teuton, he is not independent of theCompany.
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, alarge gold-copper porphyry system, as well as several othermineralized zones. As disclosed in the March, 2023 news release [clickhere: http://teuton.com/2023ResourceEstimate/ ], the Goldstorm Deposit has an Indicated Mineral Resource(as defined in NI 43-101) of 23.37 Moz of AuEQ grading 1.13 g/t AuEQ(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.
About Teuton
Teuton owns interests in more than thirty properties inthe prolific “Golden Triangle” area of northwest British Columbia and was one of the first companies to adoptwhat has since become known as the “prospect generator” model. This model minimizes share equity dilution while at the same timemaximizing opportunity. Earnings provided from option payments(received in cash and often also in shares of the optionee companies),have provided substantial income 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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