(TheNewswire)
Vancouver, Canada – TheNewswire – November 24,2021 –– Teuton ResourcesCorp. (“Teuton” or “the Company”) (TSXV: TUO ) (OTC:TEUTF) (Frankfurt- TFE ) has received a report from its joint venturepartner Tudor Gold presenting the fourth set of results from the 2021resource expansion and definition drilling program at the Treaty Creekproperty north of Stewart, BC. The project is located in the heart ofthe Golden Triangle of northwestern British Columbia and is on-trendfrom Seabridge’s KSM Project located five kilometers southwest ofthe Goldstorm Deposit.
Tudor Gold announced the safe completion of the 2021Exploration Program, which included a total of 30,108 meters ofdrilling. Results from the final eleven drill holes from Goldstorm,one hole at CBS, and several surface chip sample lines from the EurekaZone are expected to be received shortly and will be released oncefinal analysis and interpretation is completed.
Calm Before theStorm Results
CBS is the fourth significant precious metalmineralized zone to be discovered at the Treaty Creek Project. The CBSZone is located two kilometers northeast of the Goldstorm Deposit andoccurs on the same structural trend that hosts the Perfect Storm Zone(PSZ) and the Copper Belle-Goldstorm Deposit (CB-GS), which currentlyhosts an estimated Measured and Indicated Mineral Resource of 19.4million ounces of AuEq grading 0.74 AuEq and an Inferred Resource of7.9 million ounces of AuEq grading 0.79 AuEq (see Teuton news releasedated March 8, 2021).
Treaty Creek, CBS Zone Drilling andSurface Sampling Highlights include:
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Identified a new mineralized zone,“Calm Before the Storm” , near the lowerTreaty Camp; 15% (25 out of 170) of rock chip samples assayed 0.5 g/t AuEq and 5% (8 out of 170) of samplescontained 1.0 g/t AuEq.
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Drill results at Calm Before the Storm from the deeperhole, CBS-21-02, whichreturned 1.30 g/t AuEq over 53.9m within 155.50m of 0.82 g/t AuEq,demonstrate that gold-silver mineralization is getting stronger atdepth
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The Upper and Lower Exploration camps were closed inearly November, but on-going environmental and climatic studies willcontinue throughout the year with helicopter support provided byYellowhead Helicopters based in Stewart, B.C.
Tudor Gold’s Vice President ofExploration and Project Development, Ken Konkin, P.Geo.,stated : “Our 2021 exploration program has beenexceptionally successful at broadening our understanding of themineralization throughout the Treaty Creek Property. The Project nowhas four large geological targets that require extensive explorationand drilling, including the Goldstorm Deposit which remains open inall directions and at depth. The size and scope of our explorationprogram is growing exponentially with each new discovery to add to thechain of precious and base-metal deposits and targets associated withthe extensive Sulphurets-Treaty thrust fault system. We are very pleased with the results of the surface samplingprograms and in-particular the discovery hole from our preliminarydrill results at our new zone, Calm Before the Storm (CBS). The goldand silver values at CBS are interpreted to be hosted within possiblyyounger rocks than the host lithologies at Goldstorm. Drill hole CBS-21-02 intersected a distinct mineralized zonewith 1.30 g/t AuEq over 53.9mwithin 155.50m of 0.82 g/t AuEq. Our geologicalcrews require further review of this core aftercompiling the assay results to determine the controls for gold andsilver distribution and emplacement.”
The complete list of composited drill hole results forCBS, as well as the drill hole data, including hole location,elevation, depth, dip and azimuth, are provided in Table 1 and Table2, respectively. A list of highlighted surface chip and channelsamples from CBS are included in Table 3. Included at the end of this release, is a URL for a plan map andcross sections for the drilling and surface samples reported.
Drilling Results Calm Before theStorm Zones in Press Release November 23, 2021
Section / Plan | Hole / Chip Line | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu ppm | AuEQ (g/t) |
A - 180 | CBS-21-01 | 14.25 | 33.50 | 19.25 | 0.37 | 0.67 | 16 | 0.38 |
and | 141.50 | 170.00 | 28.50 | 0.30 | 12.67 | 40 | 0.46 | |
A - 180 | CBS-21-02 | 150.50 | 306.00 | 155.50 | 0.78 | 2.34 | 41 | 0.82 |
includes | 252.10 | 306.00 | 53.90 | 1.24 | 4.35 | 59 | 1.30 | |
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Table 2: Drill data for holes inPress Release November 23, 2021
Section | Hole ID | UTM E NAD 83 | UTM N NAD 83 | Elevation (m) | Azi (?) | Dip (?) | Depth (m) |
A - 180 | CBS-21-01 | 430616.2 | 6273880.5 | 979.6 | 140 | -45 | 404 |
A - 180 | CBS-21-02 | 430726.0 | 6273999.1 | 981.2 | 200 | -45 |
Table 3: CBS Surface Sample Resultsin Press Release November 23, 2021
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) |
X557688 | CBS | 430597.96 | 6273813.37 | 983.09 | CHIP | 2.00 | 0.76 | 27.45 | 219 | 1.11 |
X557681 | CBS | 430636.86 | 6273826.34 | 970.60 | CHIP | 2.00 | 0.88 | 13.35 | 166 | 1.06 |
X557680 | CBS | 430649.89 | 6273842.01 | 970.91 | CHIP | 1.50 | 0.90 | 12.97 | 219 | 1.07 |
X557683 | CBS | 430655.56 | 6273839.43 | 970.17 | CHIP | 2.00 | 0.90 | 13.89 | 119 | 1.07 |
X557677 | CBS | 430659.90 | 6273839.86 | 969.83 | CHIP | 2.00 | 1.38 | 16.89 | 160 | 1.60 |
X557676 | CBS | 430661.90 | 6273840.15 | 969.70 | CHIP | 2.00 | 1.50 | 16.02 | 252 | 1.72 |
X557675 | CBS | 430663.74 | 6273839.46 | 969.65 | CHIP | 1.50 | 0.96 | 10.41 | 190 | 1.11 |
A0513471 | CBS | 430717.50 | 6273948.00 | 976.08 | CHANNEL | 1.50 | 1.08 | 14.54 | 53 | 1.26 |
D. Cremonese, P. Eng., President of Teuton Resourcescommented as follows: “The discovery of the CBS zone, in an areathat was covered by ice less than thirty years ago, underscores thepotential of the Treaty Creek property to host multiple zones ofgold-bearing mineralization. This is the 4 th sizeable zone to be discovered and more are likely to be foundas ablation (glacial meltback) continues. In addition to thosediscovered to date, the property has potential for maar/diatremeassociated gold deposits, precious metal rich VMS deposits and highsulphidation gold deposits”.
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
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
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/CBSZoneMaps
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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