(TheNewswire)
Step-Out Hole G S -20-70 Extends t he Goldstorm 300 Horizon a ndC S -600 Zone Another 150 Meters t o t he Northeast a sDrilling Continues With Six Drills a tTreaty Creek
October 26, 2020 - TheNewswire - Vancouver, Canada - Teuton Resources Corp. ("Teuton" or "the Company") (TSXV: TUO ) (OTC:TEUTF) ( Frankfurt: TFE) has received a report from its joint venture partner TudorGold containing results from the fourth set of holes drilled in 2020at the Treaty Creek property, located in theGolden Triangle of northwest British Columbia. Tudor Gold says allnine of the new drill holes have successfully intersected the Goldstorm System expanding the mineralization to thenortheast and southeast, as well as to depth. The Goldstorm System 300Horizon has now been traced for 1100 meters along the northeast axisand in addition, the CS-600 and DS-5 systems have been expanded to thenortheast and to depth as well. All 26 drill holes completed atGoldstorm during the 2020 program have encountered significantprecious metal mineralization.
Tudor Gold's Vice President ofProject Development, Ken Konkin, P.Geo., states: "The goal is to drill-define the limits of the Goldstorm systemmineralization. We are very pleased with the results obtained from the2020 drill holes that have yet to define limits or boundaries to themineralized target along the northeastern and the southeastern axes,and to depth as well as we keep encountering mineralization versusnon-mineralized host rock. Drill hole results from GS-20-75demonstrate that several aspects of the mineralized horizon appear tobe gaining strength at depth with significant Au-Cu-Ag mineralizationencountered in the CS-600 zone which averaged 0.968 gpt AuEq over 414meters. Our technical team has to date received drill hole resultsfrom 26 diamond drill holes at Goldstorm and three holes from the PSZZone, totalling 24,343.6 meters. Samples from 12 drill holes areawaiting results from MSA Labs, totalling 12,443.7 meters, with sixadditional holes currently being drilled that are expected to totalmore than 6,500 meters. The information released to date representsjust over half of the drill information we plan to collect for thisyear's program at Goldstorm. We have also received good news from MSALabs that they hope to get back to our scheduled 15-dayturn-around-time for results. We are confident that our combinedefforts will expedite the news flow for the near-future."
Goldstorm Highlights include:
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- Nine diamond drill holes in thisrelease totalled 10,234.2 meters, all hitting the intended targetswith favorable results listed in the tables below.
- Best intercept was from GS-20-75 onSection 114+00 NE that averaged 0.741 gpt AuEq over 1152.0 metres (112.0-1264.0 m)containing an enriched portion of 121.5 meters (232.0-353.5 m) thataveraged 1.561 gpt AuEq. GS-20-75 also had a remarkable 414.0 meterintercept (833.5-1247.5 m) of 0.968 gpt AuEq within the CS-600 Zone,which is the longest intercept for CS-600 drilled to date.
- Tudor Gold has surpassed theprevious longest mineralized intercept with GS-20-79 on section 112+00NE, 150 meters southwest of GS-20-75. This hole intersected 1338meters (81.5-1419.5m) of 0.595 gpt Au Eq with the upper portion of the300 Horizon averaging 0.877 gpt AuEq over 484.5 meters (81.5-566.0m).
- A 150 meter extension of the 300,CS-600 and DS-5 Zones was confirmed by an aggressive step-out to thenortheast with hole GS-20-70 on section 115+50 NE. The interceptaveraged 0.500 gpt AuEq over 1218.0 meters and mineralization remainsopen to the northeast, northwest and southeast along Section 115+50NE.
- The DS-5 System appears to begaining strength to the northeast; hole GS-20-64, thenorth-easternmost hole, returned the strongest result for DS-5,averaging 0.983 gpt AuEq over 550.55 meters with an enriched portionaveraging 1.482 gpt AuEq over 154.5 meters (Press Release July 27,2020).
The following three tables below provide the completelist of composited drill hole results as well as the drill hole dataincluding hole location, elevation, depth, dip and azimuth.
Table l : Gold equivalent composite values from nineGoldstorm Zone DDH's
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- All assay values are uncut and intervals reflectdrilled intercept lengths.
- HQ and NQ2 diameter core samples were sawn in halfand typically sampled at standard 1.5m intervals
- The following metal prices were used to calculate theAu Eq metal content: Gold $1322/oz, Ag: $15.91/oz, Cu: $2.86/lb.Calculations used the formula Au Eq g/t = (Au g/t) + (Ag g/t x 0.012)+ (Cu% x 1.4835). All metals are reported in USD and calculations donot consider metal recoveries. True widths have not been determined asthe mineralized body remains open in all directions. Further drilling is required to determine themineralized body orientation and true widths.
Table ll: Drill Data for HolesCompleted, Pending Results and Currently Drilling
Table lII: DDH Data October 26, 2020Press Release
Attached are Sections 109+00 NE,112+50 NE, 114+00 NE and 115+50 NE showing holes traces with gold andcopper histogram results and a Plan Map showing the drill hole andsection locations.
Walter Storm, President and CEO ofTudor Gold , stated : "For thefourth consecutive press release this year, we again are very pleasedto announce a result that surpassed our finest result from the 2019drill program. Last year, we had an excellent intercept from holeGS-19-47, which yielded 0.697 gpt Au Eq over 1081.5 meters (Section114+00 NE)- and now we have yet another hole, GS-20-75 with acomparable result that was drilled along the same section but in theopposite direction from GS-19-47. Drill hole GS-20-75 averaged 0.741gpt Au Eq over an impressive 1152.0 meters. With every hole ourtechnical team completes, we are further defining the mineralizedarea. Clearly, however, much more drilling isrequired to locate the limits of the system due to the size and robustnature of the mineralization. Our commitment is to advance the projectas far as possible this year and our team will push the winterelements to continue drilling as long as the conditions permit. We areproud of what we have achieved in these last two years of exploration.Given the amount of geological potential that the entire projectpossesses with the Goldstorm, Perfect Storm Z, Eureka and OrpimentSystems, we believe that similar results will continue to enhance theprospects for the Treaty Creek Project."
D. Cremonese, P. Eng., President of Teuton ResourcesCorp. commented as follows: "Another sterling report--theGoldstorm system continues to grow and remains open for furtherextension. During my three visits to the project this summer Iwitnessed firsthand the professionalism of the geological crew headedby Ken Konkin, P. Geo. Considering the restrictions due to theCOVID19 protocols in place, they are to be commended for drillingwhat will be over 40,000 metres this season. It was Ken's idea tostart the job early in May and now he is continuing it well into thewinter months. A very bold, well-executed program."
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 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.
Qualified Person
The Qualified Person for this news release for thepurposes of National Instrument 43-101 is Tudor Gold's Vice PresidentProject Development, Ken Konkin, P.Geo. He has read and approved thescientific and technical information that forms the basis for thedisclosure contained in this news release. DinoCremonese, P. Eng., is the Qualfied Person for Teuton Resources and asPresident is not independent of the Company. He has not verified thetechnical information in this release but has no reason to believe itis inaccurate.
About Teuton
Teuton owns interests in more than thirty properties inthe prolific "Golden Triangle" area of northwest BritishColumbia and was one of the first companies to adopt what has sincebecome known as the "prospect generator" model. Ten ofthese properties are currently under option to third parties. Over$2 million in option cash payments (not including appreciable paymentsmade in shares) has been generated from these properties since 2015,including properties where optionees have already earned theirinterest.
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) as well as a 0.98% NSR in the claimscovering the Goldstorm zone. A 0.49% NSR is owned in the peripheralclaims. None of the NSRs are subject to a buy-back. Teuton alsoowns eight other royalties in the Sulphurets Hydrothermal System withinterests ranging up to 2.5%, none of which are subject to a buyback. Interested parties can access information about Teuton at theCompany's website, www.teuton.com .
Figures Accompanying News Release
http://teuton.com/GSZ_PlanView_Oct26
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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