(TheNewswire)
Vancouver, Canada - TheNewswire - March 2, 2022 - Teuton Resources Corp. (“Teuton” or“the Company”) ( TSXV: TUO) (OTC:TEUTF) ( Frankfurt: TFE) has received a report from its optionee Optimum Ventures Inc.(“Optimum”) which outlines further highlyencouraging results from a limited surface exploration programconducted on the Harry Property in northwestern British Columbia, inlate 2021 prior to the onset of winter. The sampling program wasconducted on and in the region of the Swann prospect, which is exposedover a small area and consists of quartz and semi-massive to massivemineralization with visible gold within an intensely altered zone.Determination of its true width and strike length will be part of thefocus in the 2022 exploration program.
Table 1 - Swann Zone SurfaceSampling
Sample Number | Gold g/t | Silver g/t | Copper % | Lead % | Zinc % |
S21-1 | 0.762 | 352 | 2.61 | 0.13 | 0.11 |
S21-2 | 285.4 | 1872 | 1.91 | 0.74 | 0.90 |
S21-3 | 23.397 | 75.29 | 0.20 | 0.87 | 1.01 |
S21-4 | 122.4 | 1949 | 2.07 | 0.81 | 0.36 |
S21-5 | 3.42 | 40.68 | 0.11 | 1.68 | 2.05 |
Grab samples are solely designed toshow the presence or absence of any mineralization and to characterizethe metal tenor in this mineralization. Grab samples are by definitionselective and not intended to provide nor should be construed as arepresentative indication of grade or mineralization at the property;and the grab samples analysed from the property reflect a broad rangein grade from below detection limit to the grades highlightedherein.
Following the surface sampling program, Optimumcompleted four short diamond drill holes on the Swann zone as arequirement under the option agreement on the property. Due to a quickonset of winter and Covid complications, these four drill holes wereboxed and put in locked storage prior to being logged. Optimumgeologists have now retrieved the drill core from storage and havelogged, split and sent it in for assay. Logging of the core hasindicated up to 6 metres of semi-massive to massive mineralizationassociated with highly altered sericitic rocks and quartz veining.Diamond-sawed core showed silvery galena, indicative of silver in theStewart area, green sphalerite and dull black stringers oftetrahedrite (in cut surface samples, fine visible gold is observed inthe sphalerite, galena and tetrahedrite). Photos of cut core showingmassive sulphides are shown on the Company website ( www.teuton.com ) under “Harry property”.
The Harry Property is comprised of three contiguousclaims covering an area of approximately 1,333 hectares along theGranduc mining road near Stewart, British Columbia. The property isbordered by Ascot Resources Ltd. to the east and south, PretiumResources Inc, to the north, and Scottie Resources Corp to the west.It contains several 500 metre wide zones of intense alteration thattrend northwest along the claim length. Within this intensealteration, sericite with abundant pyrite is prevalent. Quartz veins,quartz breccias and semi-massive sulphides occur within thesealteration zones. This type of alteration and mineralization is foundat the nearby gold deposits currently being developed by AscotResources Ltd.
Work completed in late 2021, while only on about 10% ofthe property, indicates that sulphide zones occur within quartzbearing structures trending east-west (south dip). Where thesestructures are crosscut by northwest trending structures (dippingeast), semi-massive to massive sulphides occur. Within thesesulphides, sphalerite, galena, tetrahedrite, chalcopyrite and pyriteare present. Fine visible gold is occasionally present within themassive mineralization. The Swann zone is two hundred metres east ofthe Milestone, where 2020 trench sampling returned 7.86 oz/ton gold(269.5 g/t) across a 2 metre width.
Qualified Persons
Mr. Edward Kruchkowski, P.Geo., a member of Optimum’sBoard of Directors, is a qualified person for the purposes of NationalInstrument 43-101 and has reviewed and approved the technicalinformation contained herein. D. Cremonese, P.Eng., is the Qualified Person for Teuton Resources and although he hasnot reviewed the technical information firsthand, he has no reason todoubt its reliability. As the CEO and President of Teuton, Mr.Cremonese is not independent of the Company.
Quality assurance/ qualitycontrol
Optimum Ventures inserted blanks and standards withinthe sample stream to improve quality control. MSALabs, the accreditedlaboratory which performed the analyses, also ran internal standardsand blanks as a check on their results. Pulps and rejects are retainedfor future analyses, if needed.
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. Teuton alsoacquired the Harry property many years ago by staking. 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
Corporate Development and Communications
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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