(TheNewswire)
January 12, 2022 - TheNewswire - Vancouver, Canada - TeutonResources Corp. (“Teuton” or “the Company”) ( TSXV: TUO) (OTC: TEUTF) ( Frankfurt: TFE) has received from its joint venture partner, Tudor GoldCorp., the final drill results from the 30,108meter, 2021 resource expansion and definition drilling program on theGoldstorm Deposit and Calm Before the Storm Zone (CBS), as well assurface sampling results from the Eureka Zone, at its flagshipproperty, Treaty Creek (the “Project” ), located within the GoldenTriangle of Northwest British Columbia.
Included in this press release are the results of threediamond drill holes that were completed at the Goldstorm Deposit alongsections 113+00 NE and 118+00 NE, 500 metres apart, as well as thethird exploration diamond drill hole at the recently discovered CalmBefore the Storm Zone. Results of a continuous surface channel sampleline completed at the Eureka Zone are also included.
The Copper Belle-Goldstorm Deposit (CB-GS) is situatedonly five kilometers northeast and on trend from Seabridge Gold’sKSM deposits, which comprise one of the largest undeveloped gold andcopper projects in the world. The CB-GS Deposit currently hosts a 1 *NI 43-101 compliantMeasured and Indicated Mineral Resource of 19.4 million ounces of AuEqgrading 0.74 g/t AuEq and an Inferred Resource of 7.9 million ouncesof AuEq grading 0.79 g/t AuEq (see Teuton Resources press releasedated March 9, 2021).
Drilling and Surface SamplingHighlights include:
GOLDSTORM
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GS-21-125 intercepted the DS5 domain, which averaged 0.82 g/t AuEq over 258.0 m , including 1.91 g/tAuEq over 85.4 m . The hole ended in gold-coppermineralization as unstable ground conditions prevented the completionof the hole.
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GS-21-127, thefarthest northeast step-out hole completed to date (approximately 200m northeast of GS-21-119), targeted the deep DS5 domain. This holesuccessfully intersected the top of DS5 and ended in mineralizationbefore being shut down due to poor field conditions. Results include 0.75 g/t AuEq over 46.5 m and0.43 g/t AuEq over 70.0 m , which extended to theend of the hole. This target will be re-drilled in 2022.
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GS-21-128 targeted the easterly extension of the CS600 and DS5 domains. The holeintercepted 0.61 g/t AuEq over43.9 m within CS600. The hole ended inmineralization as field conditions prevented completion of the hole;the final 17.6 m averaged 1.31g/t AuEq . This intersection is currentlyinterpreted to be the upper part of DS5 and plans are to re-drill thistarget in 2022.
CALM BEFORE THE STORM
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CBS-21-03 returned a near-surface interval that graded 0.85 g/t AuEq over 25.5 m and a second significant interval of mineralization fartherdown the hole that averaged 0.61 g/t AuEq over 33.15 m, with an enriched mineralized core of0.94 g/t AuEq over 10.0 m.
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CBS-21-03 confirms that gold mineralization is gainingstrength westward and to depth.
EUREKA SURFACE SAMPLING
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Channel sample lineEK-21-CHN-01 extended the Eureka Zone 300 m tothe north of previous drilling intercepts with a continuous surfacesample line returning 0.72 g/tAuEq over 139.0 m, including 1.01 g/t AuEq over 69.0 m .
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Plans for 2022 include drilling the area beneath thischannel sample line, as well as testing the current model that Eurekamay be the eastern extension to surface of the DS-5 domain of theGoldstorm Deposit.
Tudor Gold’s President and CEO, KenKonkin, P.Geo., stated: “We are pleased tohave completed the 2021 exploration season on a very positive note,having demonstrated that the Goldstorm Deposit still remains open inall directions and at depth. We have significantly expanded theGoldstorm system to the northwest, north, northeast and southeast, inaddition to reporting some of our longest and strongest gold-coppermineralized intercepts that surpassed even the results obtained fromlast years’ extremely successful drill program. Our primary goal isto define the ultimate limits of gold-copper-silver mineralization ofthe Goldstorm Deposit so we can determine the final resource estimate.We are committed to increasing our efforts for 2022 to achieve thisgoal.
Exploration in other areas of the Property demonstratedthat the Eureka System continues 300 meters to the north from ourwell-mineralized exploration drill hole EK-21-01 (Press ReleaseSeptember 28 th , 2021) that confirmed the near-surface presence of a largegold target. Other notable achievements of 2021 were the successfulexpansion of the Perfect Storm System, located two kilometressouthwest of Goldstorm, and the discovery of the Calm Before the Storm(CBS) system located two kilometres northeast of the GoldstormDeposit. The Treaty Creek project has now ballooned with the additionof these three new drill targets that will be explored in tandem withdefinition drilling of the Goldstorm deposit limits in 2022. Ourgeological team is currently focussing their efforts over the next fewweeks to complete the plans for the proposed 2022 diamond drillprogram. Leading the geological team is our new Vice President ofResource Development, Ms. Natalie Senger (P.Geo.). It’s veryrewarding for me to see the professional development and advancementof such a deserving geoscientist, who I have had the pleasure ofworking with during my career.”
The complete list of the above reported compositeddrilling results for Goldstorm and CBS, as well as the drill holedata, including hole location, elevation, depth, dip and azimuth, areprovided in Table 1 and Table 2, respectively. Rock channel sample results from Eureka trenching are shown in Table3. P lease click on the following link to view(Plan Map and Cross Sections for the drilling and surface samplesreported in this news release): TreatyMaps0122
D. Cremonese, P. Eng., President of Teuton Resources,commented as follows: “2021 was another very successful year ofexploration at Treaty Creek. As well as achieving one of the longestmineralized drill intersections in the entire Sulphurets region, 0.97 g/t Gold Eq. Over 1,320m in Hole GS-21-113-W2, the Tudor Gold crew also expandedthe Perfect Storm and Eureka zones. In addition, they drilled a newgold and silver bearing zone north-east of the Goldstorm called theCalm Before the Storm. Closing off the year was a very significantsurface discovery in an area north of the traditional Eurekamineralization which holds much promise as another source of open pitmaterial to complement the bulk-caving mineralization found at depth. Let me take this opportunity to thank Walter Storm, Ken Konkin,Natalie Senger, Sean Pownall and Charlie Mooney of YellowheadHelicopters for a job well done.”
Table 1: Drilling Results Goldstormand CBS Zone in Press Release January 11th, 2022
Section | Hole | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu (ppm) | AuEQ (g/t) |
113+00 NE | GS-21-128 (1) | 162.10 | 206.00 | 43.90 | 0.56 | 2.31 | 162 | 0.61 |
And (DS5) | 404.00 | 421.60 | 17.60 | 1.25 | 4.27 | 55 | 1.31 | |
118+00 NE | GS-21-125 (1) | 675.00 | 702.00 | 27.00 | 1.67 | 2.06 | 45 | 1.70 |
And (DS5) | 910.50 | 1168.50 | 258.00 | 0.72 | 7.06 | 150 | 0.82 | |
Including | 949.50 | 1034.90 | 85.40 | 1.69 | 15.62 | 299 | 1.91 | |
And (DS5) | 1221.00 | 1292.40 | 71.40 | 0.67 | 7.25 | 849 | 0.85 | |
Including | 1275.00 | 1292.40 | 17.40 | 1.69 | 7.17 | 555 | 1.84 | |
118+00 NE | GS-21-127 (1) | 489.00 | 535.50 | 46.50 | 0.72 | 2.49 | 77 | 0.75 |
And (DS5) | 621.00 | 691.00 | 70.00 | 0.36 | 4.69 | 130 | 0.43 | |
A - 180 | CBS-21-03 | 8.00 | 33.50 | 25.50 | 0.84 | 0.76 | 22 | 0.85 |
And | 150.50 | 183.65 | 33.15 | 0.53 | 5.96 | 86 | 0.61 | |
Including | 156.00 | 166.00 | 10.00 | 0.84 | 7.89 | 52 | 0.94 | |
Eureka Plan | GS-21-CHN-01 | 0.00 | 139.00 | 139.00 | 0.58 | 7.19 | 485 | 0.72 |
Including | 68.50 | 137.50 | 69.00 | 0.86 | 8.54 | 392 | 1.01 | |
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Table 2: Drill data for holes inPress Release January 11th, 2022
Section | Hole ID | UTM E NAD 83 | UTM N NAD 83 | Elevation (m) | Azi (?) | Dip (?) | Depth (m) |
113+00 NE | GS-21-128 | 429037.0 | 6272847.0 | 1233.8 | 295 | -85 | 421.6 |
118+005 NE | GS-21-125 | 429209.5 | 6273224.9 | 1208.1 | 300 | -83 | 1292.4 |
118+00 NE | GS-21-127 | 429265.2 | 6273285.7 | 1202.1 | 305 | -75 | 691.0 |
A - 180 | CBS-21-03 | 430615.0 | 6273884.0 | 975.0 | 160 | -45 | 312.25 |
Table 3: Surface Sample Results inPress Release January 11th, 2022
Sample | Zone | UTM E NAD 83 | UTM N NAD 83 | Elevation (m) | Type | Length | Au (g/t) | Ag (g/t) | Cu (ppm) | AuEQ (g/t) |
X557249 | Eureka | 429712.97 | 6272502.02 | 1268.72 | CHANNEL | 1.50 | 0.89 | 21.52 | 1230 | 1.29 |
X557247 | Eureka | 429715.74 | 6272503.17 | 1269.54 | CHANNEL | 1.50 | 0.30 | 10.04 | 5080 | 1.02 |
X557213 | Eureka | 429766.03 | 6272507.09 | 1277.47 | CHANNEL | 1.50 | 1.32 | 3.86 | 76 | 1.38 |
X557207 | Eureka | 429774.88 | 6272508.75 | 1279.68 | CHANNEL | 1.50 | 0.93 | 4.79 | 208 | 1.01 |
X557300 | Eureka | 429777.82 | 6272509.33 | 1280.34 | CHANNEL | 1.50 | 3.58 | 4.86 | 112 | 3.65 |
X557299 | Eureka | 429779.29 | 6272509.62 | 1280.60 | CHANNEL | 1.50 | 1.39 | 2.68 | 148 | 1.44 |
X557297 | Eureka | 429782.24 | 6272510.18 | 1281.31 | CHANNEL | 1.50 | 1.11 | 3.74 | 634 | 1.23 |
X557296 | Eureka | 429783.72 | 6272510.44 | 1281.65 | CHANNEL | 1.50 | 1.01 | 2.32 | 278 | 1.07 |
X557293 | Eureka | 429788.15 | 6272511.24 | 1283.20 | CHANNEL | 1.50 | 1.31 | 7.85 | 92 | 1.42 |
X557292 | Eureka | 429789.62 | 6272511.51 | 1283.46 | CHANNEL | 1.50 | 2.02 | 5.95 | 81 | 2.10 |
X557290 | Eureka | 429792.45 | 6272512.50 | 1283.45 | CHANNEL | 1.50 | 0.92 | 3.25 | 479 | 1.01 |
X557289 | Eureka | 429793.90 | 6272512.90 | 1283.75 | CHANNEL | 1.50 | 1.46 | 4.63 | 944 | 1.63 |
X557288 | Eureka | 429795.34 | 6272513.31 | 1283.87 | CHANNEL | 1.50 | 1.07 | 2.47 | 452 | 1.16 |
X557285 | Eureka | 429799.76 | 6272514.14 | 1284.53 | CHANNEL | 1.50 | 0.84 | 27.33 | 5851 | 1.85 |
X557284 | Eureka | 429801.25 | 6272514.35 | 1285.10 | CHANNEL | 1.50 | 2.25 | 8.56 | 775 | 2.44 |
X557283 | Eureka | 429802.74 | 6272514.55 | 1285.73 | CHANNEL | 1.50 | 1.23 | 12.14 | 945 | 1.49 |
X557279 | Eureka | 429808.69 | 6272515.28 | 1287.91 | CHANNEL | 1.50 | 0.68 | 97.64 | 2161 | 2.08 |
X557267 | Eureka | 429826.59 | 6272517.12 | 1289.80 | CHANNEL | 1.50 | 1.36 | 72.53 | 141 | 2.22 |
QualifiedPerson
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 scientificand technical information that forms the basis for the disclosurecontained in this news release. Mr. Konkin is also a director ofTeuton Resources.
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".
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 .
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 TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
Cautionary Statements regardingForward-Looking information
Certain statements contained in this press releaseconstitute forward-looking information. These statements relate tofuture events or future performance. The use of any of the words"could", "intend", "expect","believe", "will", "projected","estimated" and similar expressions and statements relatingto matters that are not historical facts are intended to identifyforward-looking information and are based on the Company's currentbelief or assumptions as to the outcome and timing of such futureevents. Actual future results may differ materially.
All statements relating to future plans, objectivesor expectations of the Company are forward-looking statements thatinvolve various risks and uncertainties. There can be no assurancethat such statements will prove to be accurate and actual results andfuture events could differ materially from those anticipated in suchstatements. Important factors that could cause actual results todiffer materially from the Company's plans or expectations includerisks relating to the actual results of current explorationactivities, fluctuating gold prices, possibility of equipmentbreakdowns and delays, exploration cost overruns, availability ofcapital and financing, general economic, market or businessconditions, regulatory changes, timeliness of government or regulatoryapprovals and other risks detailed herein and from time to time in thefilings made by the Company with securities regulators. The Companyexpressly disclaims any intention or obligation to update or reviseany forward-looking statements whether as a result of new information,future events or otherwise except as otherwise required by applicablesecurities legislation.
1 * In April 2021 Tudor published a NI 43-101 technical report,“Technical Report and Initial Mineral Resource Estimate of theTreaty Creek Gold Property, Skeena Mining Division, British ColumbiaCanada” dated March 1, 2021 on Tudor Gold’s Sedar profile.
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