(TheNewswire)
November 30, 2021 - TheNewswire - Vancouver, Canada - TeutonResources Corp. (“Teuton” or “the Company”) ( TSXV: TUO) ( Frankfurt: TFE) has received areport from its joint venture partner Tudor Gold presenting the fifthset of results from the 2021 resource expansion and definitiondrilling program at the Treaty Creek property north of Stewart, BC.The project is located in the heart of the Golden Triangle ofnorthwestern British Columbia and is on-trend from Seabridge’s KSMProject located five kilometers southwest of the Goldstorm Deposit.
Tudor Gold announced results from seven diamond drillholes that were completed at the Goldstorm Deposit along three sectionlines spaced 300 meters apart (Sections: 111+00 NE, 114+00 NE and117+00 NE). These holes confirm that gold and copper mineralizationgain strength in the northern-most set of drill holes, whichdemonstrates that the Goldstorm System remains very robust and open toexpansion to the north. The Copper Belle-Goldstorm Deposit (CB-GS)currently hosts an estimated Measured and Indicated Mineral Resourceof 19.4 million ounces of AuEq grading 0.74 g/t AuEq and an InferredResource of 7.9 million ounces of AuEq grading 0.79 g/t AuEq (seeTeuton press release dated March 9, 2021).
Goldstorm Drilling Highlightsinclude:
SECTION 117+00 NE
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Significantly expanded CS600 domain to depth and to thenorthwest with GS-21-113-W2 , which returned a CS600 interceptof 1.38 g/t AuEq (including0.49%Cu and 6.27 g/t Ag) over 556.5 m, andcontains higher grade mineralization averaging 2.34 g/t AuEq (including 0.71 %Cu and 17.64 g/t Ag) over the last 57.0 m of the hole. The drillers had to abandon the hole at 1,575.0 m, as the drill was at its maximum limit.
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Two pulses of gold mineralization were encounteredwithin the 300H domain inGS-21-113-W2 ; the upper pulse averaged 1.29 g/t AuEq over 97.0 m, the lower pulse averaged 1.85 g/t AuEq over 69.0 m.
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The strongest mineralization in the northernmostsection cutting the 300H domain was within GS-21-113-W1 , which returned 4.07g/t AuEq over 78.0 m, within 459.0 m of 1.30 g/t AuEq.
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The longest intercept of the Project to-date was from GS-21-113-W2 with 1,320.0 maveraging 0.97 g/t AuEq, which included the 300Hand CS600 domains.
SECTION 114+00 NE
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Completed successful infill hole GS-21-120 , whichreturned 0.93 g/t AuEq over198.0 m within 687.0 m of 0.50 g/t AuEq aftertwo previous attempts with GS-21-117 and GS-21-117-W1 were abandonedas they deviated from the intended orientation.
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A strong pulse of mineralization was encountered withinthe 300H domain in both abandoned holes, GS-21-117 and GS-21-117-W1 , that yielded similar results of 1.38 g/t AuEq over 52.5 m and 1.58 g/t AuEqover 51.0 m, respectively
SECTION 111+00 NE
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Confirmed consistent copper mineralization deeperwithin CS600 domain with hole GS-21-118 , which returned 0.86 g/t AuEq (includes 0.32 % Cu)) over44.0 m within 91.5 m of 0.64 g/t AuEq (includes 0.22 % Cu).
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Mineralization in drill hole GS-21-118 averaged 0.76 g/t AuEq over 786.7 m,including 0.95 g/t AuEq over 295.5 m that contains an enrichedinterval of 1.60 g/t AuEq over 86.5 m in the 300H domain.
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Hole GS-21-121 returned 0.56 g/t AuEq over760.6 m including two near-surface enriched pulses of goldmineralization yielding 1.06 g/t AuEq over 93.1 m and 1.00 g/t AuEqover 72.0 m.
Tudor Gold’s Vice President ofExploration and Project Development, Ken Konkin, P.Geo.,stated : “We are very pleased to report theseexceptional drilling results that continue to increase the dimensionsof the Goldstorm Deposit, with some of the most impressive gold-coppermineralization observed to-date. We have significantly expanded thedeposit to the north, northwest and at depth. Drill hole GS-21-113-W2is the deepest intercept in the Goldstorm system. This hole ended invery strong gold-copper and associated silver mineralization withinthe CS600 domain. Clearly, much more drilling is required to constrainthe deposit which appears to have the greatest potential for continuedexpansion to the northeast and northwest.
This system has proven to be much larger than wepreviously expected and, combined with our recent discoveries atPerfect Storm, Eureka and Calm Before the Storm, gives this Projectun-paralleled economic potential as one of the largest gold projectsin the world. We have recently received the final analytical resultsfor our last drill holes and our geologists are working on refiningthe geological interpretation and completing maps and drill sections.We expect more news releases to follow shortly.”
D. Cremonese, P.Eng., President of Teuton commented asfollows: “The 1.38 g/t gold Eq. intersection over 556.5m in HoleGS-21-113-W2 (within the CS600 domain)—the deepestgold-copper-silver encountered to date--is an outstanding result. At the Red Chris mine located to the north of Treaty Creek in theIskut area, Newcrest Mining is presently planning to block cave an8.1Moz gold and 2.2Mt copper resource, with an average grade of 0.56g/t gold and 0.45% copper. This grade is equivalent to 1.1 g/t goldEq, (using the same parameters to calculate Equivalent gold values asin this release). Newcrest anticipates a “ Negative cost” gold production from theRed Chris Block Cave after accounting for copper credits, with anAverage All-In Sustaining Cost (AISC) of C$-180/oz(US$-144/oz [Refer to page 2, http://teuton.com/newcrestblockcave for source document]. Should further step-out drilling in the areaof the GS-21-113-W2 intersection confirm similar grades over similarsubstantial widths, it suggests potential for a large tonnage blockcaving operation at Treaty.”
The complete list of these reported composited drillingresults for Goldstorm, as well as the drill hole data, including holelocation, elevation, depth, dip and azimuth, are provided in Table 1and Table 2, respectively. P lease refer to the URL located at the end of this release toview a Plan Map and Cross Sections for the drilling results reportedin this news release.
Table 1: Drilling Results Goldstormin Press Release November 30, 2021
Section | Hole | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu ppm | AuEQ (g/t) |
117+00 NE | GS-21-113-W1 (1) | 255.00 | 714.00 | 459.00 | 1.26 | 2.82 | 103 | 1.30 |
Includes (300H) | 555.00 | 714.00 | 159.00 | 2.28 | 5.14 | 94 | 2.35 | |
With | 609.00 | 685.50 | 78.00 | 3.97 | 7.71 | 86 | 4.07 | |
117+00 NE | GS-21-113-W2 (2) | 255.00 | 1575.00 | 1320.00 | 0.67 | 3.70 | 2159 | 0.97 |
Includes (300H) | 255.00 | 352.00 | 97.00 | 1.25 | 2.17 | 78 | 1.29 | |
With | 589.50 | 658.50 | 69.00 | 1.80 | 3.61 | 78 | 1.85 | |
And Includes (CS600) | 1018.50 | 1575.00 | 556.50 | 0.73 | 6.27 | 4892 | 1.38 | |
With | 1518.00 | 1575.00 | 57.00 | 1.29 | 17.64 | 7149 | 2.34 | |
114+00 NE | GS-21-117 | 204.00 | 525.00 | 321.00 | 0.51 | 1.94 | 150 | 0.55 |
Includes (300H) | 316.50 | 369.00 | 52.50 | 1.28 | 5.15 | 351 | 1.38 | |
With | 342.00 | 369.00 | 27.00 | 2.15 | 3.52 | 123 | 2.20 | |
114+00 NE | GS-21-117-W1 (3) | 204.00 | 549.85 | 345.85 | 0.54 | 2.32 | 166 | 0.59 |
Includes (300H) | 316.50 | 367.50 | 51.00 | 1.44 | 7.77 | 417 | 1.58 | |
With | 342.00 | 367.50 | 25.50 | 2.51 | 8.66 | 241 | 2.64 | |
114+00 NE | GS-21-120 | 168.00 | 855.00 | 687.00 | 0.43 | 1.54 | 463 | 0.50 |
Includes (300H) | 225.00 | 423.00 | 198.00 | 0.88 | 2.61 | 108 | 0.93 | |
With | 232.50 | 297.50 | 65.00 | 1.44 | 4.79 | 124 | 1.51 | |
And Includes (CS600) | 733.50 | 855.00 | 121.50 | 0.39 | 2.331 | 1801 | 0.63 | |
With | 739.50 | 784.50 | 45.00 | 0.67 | 4.07 | 2652 | 1.03 | |
(DS5) | 1099.50 | 1330.75 | 231.25 | 0.70 | 3.55 | 96 | 0.75 | |
Includes | 1240.50 | 1330.75 | 90.25 | 1.01 | 5.81 | 161 | 1.09 | |
With | 1299.00 | 1330.75 | 31.75 | 1.86 | 5.15 | 262 | 1.96 | |
111+00 NE | GS-21-118 | 150.50 | 937.20 | 786.70 | 0.72 | 2.19 | 174 | 0.76 |
Includes (300H) | 150.50 | 446.00 | 295.50 | 0.89 | 3.33 | 208 | 0.95 | |
With | 359.50 | 446.00 | 86.50 | 1.50 | 4.39 | 379 | 1.60 | |
(CS600) | 1197.50 | 1289.00 | 91.50 | 0.35 | 2.22 | 2249 | 0.64 | |
With (CS600) | 1235.00 | 1279.00 | 44.00 | 0.47 | 1.75 | 3202 | 0.86 | |
111+00 NE | GS-21-121 | 35.90 | 796.50 | 760.60 | 0.51 | 2.90 | 176 | 0.56 |
Includes (300H) | 35.90 | 129.00 | 93.10 | 0.98 | 3.03 | 363 | 1.06 | |
And Includes (300H) | 210.00 | 282.00 | 72.00 | 0.93 | 4.87 | 126 | 1.00 | |
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Table 2: Drill data for holesin Press Release November 30, 2021
Section | Hole ID | UTM E NAD 83 | UTM N NAD 83 | Elevation (m) | Azi (?) | Dip (?) | Depth (m) |
117+00 NE | GS-21-113-W1 (1) | 428610.1 | 6273387.7 | 888.4 | 307.5 | -66.4 | 714.0 |
117+00 NE | GS-21-113-W2 (2) | 428679.3 | 6273341.8 | 1076.9 | 301 | -64.5 | 1575.0 |
114+00 NE | GS-21-117 | 428651.9 | 6273190.7 | 1369.8 | 295 | -87 | 708.0 |
114+00 NE | GS-21-117-W1 (3) | 428651.3 | 6273192.4 | 1021.1 | 106.5 | -86.8 | 578.1 |
114+00 NE | GS-21-120 | 428651.9 | 6273191.4 | 1369.6 | 292 | -84 | 1386.0 |
111+00 NE | GS-21-118 | 428428.0 | 6272983.8 | 1373.3 | 292 | -68 | 1499.0 |
111+00 NE | GS-21-121 | 428527.8 | 6272880.9 | 1279.9 | 300 | -45 | 1077.25 |
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QualifiedPerson
The Qualified Person for the Treaty Creek data in thisnews release is Tudor Gold’s Vice President of Exploration andProject Development, Ken Konkin, P.Geo. Mr. Konkin is also adirector of Teuton. He has read and approved the scientific andtechnical information that forms the basis for the disclosurecontained in this news release.
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 the Company.
The Treaty Creek Project is a Joint Venture with TudorGold owning 60% and acting as operator. Teuton Resources andAmerican Creek each have a 20% interest in the project. Teuton and American Creek are both fully carried until such time as aProduction Notice is issued, at which time they are required tocontribute their respective 20% share of development costs. Until suchtime, Tudor is required to fund all exploration and development costswhile both Teuton and American Creek have "freerides".
Qualified Person
QA/QC
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. MSA Laboratories quality system complies with therequirements for the International Standards ISO 17025 and ISO 9001.MSA Labs is independent of the Company.
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 $3.9million net income in 2020 and a further $2.4 million in the firstquarter of 2021. Its income is derived from option payments.
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 inTreaty Creek (carried until such time as a production decision ismade) and a 0.98% NSR in the Goldstorm deposit area. Interestedparties can access information about Teuton at the Company’swebsite, www.teuton.com .
Figures & Videos AccompanyingNews Release
Please click link to view Plan Map and Cross-Sections: http://teuton.com/PlanViewCS1121
On Behal f of the Board of Directors of TeutonResources:
"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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