(TheNewswire)
February 11, 2021 – TheNewswire - Vancouver, Canada –– Teuton ResourcesCorp. (“Teuton” or “the Company”) (TSXV:TUO) (Frankfurt-TFE) (OTC:TEUTF) has received a report from its optionee, Decade Resources,regarding the first two holes of the 2020 program, both of which weredrilled into the K (Kosciuszko) zone on the Del Norte property,located 34 km east of Stewart in BC’s “Golden Triangle”. Intotal 20 other holes were completed exploring for silver-gold bearingmineralization in the newly identified Argo and Eagle’s Nestzones.
The 2020 program indicated that silver-rich mineralizedzones are in rocks analogous to those hosting the Eskay Creek deposit.These rocks are at the contact with black mudstones of the SalmonRiver formation with mineralization in sheared felsic black mudlapilli tuffs analogous to the Mt. Dilworth Formation. Prior to thestart of last year’s program, two zones were indicated, namely theLG vein and K zone; 2020 work has defined four other strongmineralized zones in the vicinity including the Argo and Eagle’sNest zones.
Historical results, all of which occurred duringTeuton’s ownership of the Del Norte property, are as follows:
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- A chip sample taken across the K zone zone during itsdiscovery in 2002 returned 6.07 g/t gold and 623.7 g/t silver across awidth of 10.0 metres.
- Three holes drilled from a single station located 12m south of the chip sample intersected true widths of mineralizationvarying from 8.5 to 10 metres and carrying gold values ranging from3.53 to 7.56 g/t gold and silver values ranging from 176.95 to 274.24g/t.
- Several hundred metres north of the above, drillingon the same or a sub-parallel structure returned 6.47 g/t gold and346.02 g/t silver over 15.54 metres.
- Other holes in this area intersected 8.6 m of 3.02g/t gold and 270.5 g/t silver over 8.74 metres.
Assays from 2020 drilling indicate thefollowing:
DDH # | From (m) | To(m) | Width (m) | Au g/t | Ag g/t | Ag g/t eq |
DN20-01 | 162.69 | 164.69 | 1.80 | 4.77 | 42.87 | 386 |
DN20-02 | 167.72 | 171.45 | 4.34 | 0.78 | 40.29 | 96.5 |
Analytical values have been rounded.
*Silver-equivalent values for gold and silver only (nobase metals), calculated assuming 100% metal recovery. Assumptions: US$25/oz silver, US$1800/oz gold: 1:72 ratio.
The zone tested was 50 m north and 50 m below the 2002intersections.
In addition, surface sampling indicated the zone was atleast 500 m in strike length. Chip line samplingon the SP zone, a south extension of the Kosciuszko zone gave 3.8m of5.74 g/t Au and 405 g/t (818 Ag g/t eq) as well as 2m of 1.13 g/t Auand 212 g/t Ag (293 g/t Ag eq). A float sample immediately west ofthis trenching gave 49.7 g/t Au, 2200 g/t Ag, 0.165% Cu, 0.852 % Pband 0.047 % Zn indicating parallel mineralized zones.
Analysis were performed by Activation Laboratories Ltd.in Kamloops BC, an accredited facility.
Ed Kruchkowski, P. Geo., a qualified person underNational Instrument 43-101 for Decade Resources is responsible for thecontents of this release. D. Cremonese, P. Eng., is the QualifiedPerson for Teuton Resources Corp. He has not independently verifiedthe assay results but has no reason to believe they are inaccurate. Mr. Cremonese, as President of Teuton, is not independent of theCompany.
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. Ten of these propertiesare currently under option to third parties. Over $2 million inoption cash payments (not including appreciable payments made inshares) has been generated from these properties since 2015, includingproperties where optionees have already earned their interest.
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 .
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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