(TheNewswire)
July 26, 2022 – TheNewswire - Vancouver, Canada ––Teuton Resources Corp. (“Teuton” or “the Company”)(TSXV:TUO) (OTC:TEUTF) (Frankfurt:TFE) has received assay results from its JointVenture partner, Tudor Gold Corp., on the next set of drill results from the Phase l workprogram at the Treaty Creek property. T he property is located in the heart ofthe Golden Triangle of northwestern British Columbia, adjoining and ongeological trend with S eabridge Gold’s KSMproperty and Newcrest Mining’s Brucejack property.
Ken Konkin, President and CEO ofTudor Gold and Director of Teuton , commented asfollows: “We are extremely pleased to report this second consecutivehigh-grade, visible gold intercept from our northeastern step-outdrilling. This 70.96 g/t AuEQintercept over one meter is now [the] highest single gold gradeintercept of the project. The unique aspect ofthe two-meter composite of 39.15 g/t AuEq and the 4.5 meter visiblegold composite from GS-22-134 that averaged 20.86 g/t AuEQ is thatthey both appear to have similar modes of occurrence that resemblesthe gold mineralization at the Valley of Kings (VOK) Deposit atNewcrest’s Brucejack Lake Mine adjacent to our southern border.*Most of the free-gold mineralization at the Goldstorm Deposit isassociated with quartz-pyrite veinlets but it also appears as finedisseminated grains of free visible gold within host rock as observedin this high-grade intercept within GS-22-143. This may be acolloidal-type mineralization which is also observed at the BrucejackLake Mine. Gold mineralization at the VOK Deposit occurs as electrum,however the visible gold found at the Goldstorm Deposit occurs asnative gold. As with the discovery of R-66 to the southeast, these newhigh-grade gold intercepts may be completely different pulses ofmineralization that can occur outside the known limits of the porphyrystyle of gold mineralization. Clearly more drilling is required tobetter understand the grade distribution and consistency within thenortheastern portion of the Goldstorm Deposit.”
*While working for Pretium Resources, Mr. Konkin was instrumental in the discovery of the Valley ofKings deposit at the Brucejack Lake mine, an eight-million-ounce golddeposit currently in production (Pretium was recently purchased byNewcrest Mining). He spent seven years managing all aspects of theexploration programs at Snowfield-Brucejack. During his tenure withPretium, the company received the Bill Dennis award in 2013recognizing an important and significant mineral discovery in Canadawith potential economic viability (presented by the Prospectors &Developers Association of Canada); Mr. Konkin was also theco-recipient of the prestigious H.H. “Spud” Huestis award for“excellence in prospecting and mineral exploration in B.C. and/orYukon” in 2017. Mineralization as described on the Brucejack property of NewcrestMining is not necessarily indicative or representative of themineralization that may be hosted at Treaty Creek.
The Program at the Treaty Creek property includes anaggressive resource expansion and delineation plan on several areasincluding the Goldstorm Deposit and the Eureka and Calm Before theStorm zones. Results included in this press release includepreliminary results from one diamond drill hole from the GoldstormDeposit that was targeted outside the 2021 mineral resource area (seeend of press release for URLs for plan map and sections).
GOLDSTORM DEPOSIT
SECTION B
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GS-22-143 stepped out 225 m to the northeast from the 2021 drilling and targeted300H and CS600 mineralization. A high-grade interval of 39.15 g/t AuEq over 2.0 m was intercepted in an area that spatially lines up with the300H mineral domain, however, is interpreted as potentially being aseparate mineralization event. Visible gold was found hosted withinthe fabric of the host rock.
Table 1: Drilling Results Goldstormand CBS in Press Release July 26, 2022
Section | Hole | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu (ppm) | AuEq (g/t) |
B | GS-22-143 (300H) | 559.00 | 561.00 | 2.00 | 38.90 | 15.96 | 531 | 39.15 |
Including | 559.00 | 560.00 | 1.00 | 7.20 | 6.99 | 490 | 7.34 | |
And including | 560.00 | 561.00 | 1.00 | 70.6 | 24.93 | 572 | 70.96 | |
And (300H) | 733.50 | 760.50 | 27.00 | 1.05 | 1.56 | 473 | 1.13 | |
And (300H) | 861.00 | 890.50 | 29.50 | 0.90 | 0.99 | 841 | 1.01 | |
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Table 2: Drill data for holes inPress Release July 26, 2022
Section | Hole ID | UTM E NAD 83 | UTM N NAD 83 | Elevation (m) | Azi (?) | Dip (?) | Depth (m) |
B | GS-22-143 | 429047.0 | 6273269.0 | 224.0 | 312 | -50 | 1215.25 (1) |
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Qualified Person
The Qualified Person for this news release for thepurposes of National Instrument 43-101 is Tudor Gold’s Presidentand CEO, Ken Konkin, P.Geo. Mr. Konkin is also a director of TeutonResources and as such is not independent of the Company. He has readand approved the scientific and technical information that forms thebasis for the disclosure contained 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.
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. This model minimizesshare equity dilution while at the same time maximizing opportunity. Earnings provided from option payments received, both in cash and inshares of the optionee companies over the past 6 years, has providedTeuton with substantial income.
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. It also ownsnumerous additional royalty interests within the SulphurestsHydrothermal system on properties such as the King Tut, Tuck, HighNorth, Orion, Delta and Fairweather properties. Interested parties canaccess information about Teuton at the Company’s website, www.teuton.com .
URL for various maps:
On Behalf of the Board of Directorsof Teuton Resources:
"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 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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