(TheNewswire)
Hole Gs-20-94 Intersects 1.215 GptAueq Over 354.0 Meters Within 1225.5 Meters Of 0.702 Gpt Aueq ; HoleGs-20-83 Intersects 1.078 Gpt Aueq Over 345.0 Meters Within 921.0Meters Of 0.821 Gpt Aueq
December 16, 2020 – TheNewswire - Vancouver, Canada – Teuton ResourcesCorp. (“Teuton” or “the Company”) ( TSXV: TUO) (OTC:TEUTF) ( Frankfurt: TFE) has received a report from its joint venture partner TudorGold containing results from the fifth set of holes drilled in theGoldstorm zone in 2020. The Goldstorm has been the subject of anintense drilling program in 2020 and lies within the Treaty Creekproperty, situated in the heart of the GoldenTriangle of northwestern British Columbia and on-trend fromSeabridge’s KSM Project located five kilometers to the southwest.
Results from 12 diamond drill holes were recentlyreceived from MSA Labs with final results from another 11 diamonddrill holes pending. All 12 holes have successfully intersected the Goldstorm System, expanding and defining themineralization along the northeast and southeast axes, as well as todepth. The Goldstorm System 300 Horizon has now been traced for 1100meters along the northeast axis and, as well, the CS-600 and DS-5zones have been expanded to the northeast and to depth. All 39 drillholes completed at Goldstorm during the 2020 program have encounteredsignificant precious metal mineralization. The 2020 Treaty CreekDiamond Drill Program was completed last week, and field personnelhave winterized the camp. The track-components of two track-mounteddiamond drills remain on site ready for start-up of the 2021exploration season.
Tudor Gold’s Vice President ofProject Development, Ken Konkin, P.Geo., stated: “We are very pleased with the results obtained from all 39 drillholes completed this year to-date and we anticipate the release of thefinal 11 holes of the year within a few weeks. This brings the totalto 50 drill holes that were completed this year at the Goldstorm Zone.These latest holes continued to expand the limits of the mineralizedtargets along the northeastern and the southeastern axes, and todepth. For a fifth consecutive press release, we have surpassed ourbest result from last years’ drill hole program (0.697 AuEq over1081.5 meters in hole GS-19-47) with drill holes GS-20-83 and GS-20-94as described in the headline. The final 11 drill holes represent over9600 meters of drilling and we expect that MSA Labs will complete theanalysis of these final samples as soon as possible.”
Treaty Creek Highlightsinclude:
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- Twelve drill holes presented inthis press release total 11,551.1 meters
- The best results were fromGS-20-94, a near-surface 354.0 meter intercept (36.0-390 m) averaging1.215 gpt AuEq and GS-20-82 with a 351m intercept (113.0-464.0 m)averaging 1.051 gpt AuEq. Both holes are located on Section 111+00NE.
- Equally impressive was drill holeGS-20-83 that also had a near-surface intercept over a similar 345.0meters (73.5-418.5 m) that averaged 1.078 gpt AuEq on Section 112+50NE.
- More Core Drilling did an excellentjob completing 50 HQ/NQ2 diamond drill holes totaling 43,972 meters atGoldstorm and 1,636 meters at the Perfect Storm Target with threedrill holes.
The following three tables below provide the completelist of composited drill hole results as well as the drill hole dataincluding hole location, elevation, depth, dip and azimuth.
Table l: Results Goldstorm Zone PressRelease December 15 th 2020
Section | Hole | Zone | From | To | Interval (m) | Au | Ag | Cu | AuEQ |
114+00 NE | GS-20-80 | 300H + CS600 | 222.50 | 1349.00 | 1126.50 | 0.369 | 1.66 | 653 | 0.486 |
including 300H | 398.00 | 695.50 | 297.50 | 0.488 | 1.98 | 135 | 0.531 | ||
and including CS600 | 831.50 | 1028.00 | 196.50 | 0.572 | 3.25 | 2703 | 1.011 | ||
115+50 NE | GS-20-81 | 300H + CS600 + DS5 | 558.40 | 1389.50 | 831.10 | 0.422 | 1.56 | 940 | 0.580 |
includ 300H + CS600 | 558.40 | 957.50 | 399.10 | 0.529 | 1.96 | 1712 | 0.807 | ||
with 300H | 558.40 | 636.50 | 78.10 | 1.047 | 1.52 | 139 | 1.086 | ||
and with CS600 | 704.00 | 957.50 | 253.50 | 0.481 | 2.37 | 2494 | 0.879 | ||
111+00 NE | GS-20-82 | 300H + CS600 | 113.00 | 1041.50 | 928.50 | 0.629 | 2.46 | 519 | 0.736 |
including 300H | 113.00 | 464.00 | 351.00 | 0.969 | 3.56 | 263 | 1.051 | ||
with 300H | 224.00 | 422.00 | 198.00 | 1.283 | 5.29 | 408 | 1.407 | ||
112+50 NE | GS-20-83 | 300H + CS600 + DS5 | 73.50 | 994.50 | 921.00 | 0.676 | 3.97 | 655 | 0.821 |
including 300H | 73.50 | 418.50 | 345.00 | 1.008 | 3.48 | 191 | 1.078 | ||
and including CS600 | 566.45 | 727.50 | 161.05 | 0.426 | 3.90 | 2863 | 0.898 | ||
and including DS5 | 813.00 | 994.50 | 181.50 | 0.919 | 7.33 | 190 | 1.035 | ||
112+50 NE | GS-20-85 | 300H | 66.50 | 692.00 | 625.50 | 0.748 | 3.80 | 275 | 0.834 |
CS600 | 752.00 | 989.00 | 237.00 | 0.241 | 2.23 | 1734 | 0.524 | ||
DS5 | 1118.00 | 1278.50 | 160.50 | 0.511 | 2.11 | 128 | 0.555 | ||
114+00 NE | GS-20-86 | 300H | 118.50 | 577.50 | 459.00 | 0.712 | 3.43 | 263 | 0.792 |
CS600 | 730.50 | 942.00 | 211.50 | 0.469 | 2.49 | 2172 | 0.821 | ||
DS5 | 1014.00 | 1425.00 | 411.00 | 0.595 | 2.85 | 145 | 0.650 | ||
including | 1192.50 | 1395.00 | 202.50 | 0.889 | 3.39 | 130 | 0.949 | ||
111+00 NE | GS-20-89* | 300H | 87.00 | 125.00 | 38.00 | 1.142 | 12.85 | 91 | 1.309 |
111+00 NE | GS-20-90 | 300H + CS600 | 63.00 | 847.50 | 784.50 | 0.646 | 2.89 | 465 | 0.750 |
including 300H | 72.00 | 405.00 | 333.00 | 0.915 | 3.60 | 177 | 0.984 | ||
and including CS600 | 643.50 | 768.00 | 124.50 | 0.635 | 4.60 | 1632 | 0.932 | ||
110+00 NE | GS-20-93* | 300H | 20.50 | 237.50 | 217.00 | 0.535 | 3.40 | 152 | 0.599 |
incl. | 20.50 | 131.00 | 110.50 | 0.850 | 5.49 | 206 | 0.946 | ||
111+00 NE | GS-20-94 | 300H | 36.00 | 1261.50 | 1225.50 | 0.646 | 2.50 | 178 | 0.702 |
including | 36.00 | 390.00 | 354.00 | 1.123 | 4.14 | 287 | 1.215 | ||
or including | 36.00 | 820.50 | 784.50 | 0.856 | 3.45 | 239 | 0.933 | ||
108+00 NE | GS-20-96 | 300H | 6.00 | 109.50 | 103.50 | 0.804 | 2.27 | 129 | 0.850 |
CS600 | 279.00 | 385.50 | 106.50 | 0.228 | 3.77 | 1235 | 0.457 | ||
110+00 NE | GS-20-97 | 300H | 18.40 | 584.00 | 565.60 | 0.609 | 1.95 | 107 | 0.648 |
incl. | 18.40 | 381.50 | 363.10 | 0.693 | 2.35 | 141 | 0.742 |
*lost drill hole in mineralization
-
- All assay values are uncut and intervals reflectdrilled intercept lengths.
- HQ and NQ2 diameter core samples were sawn in halfand typically sampled at standard 1.5m intervals
- The following metal prices were used to calculate theAu Eq metal content: Gold $1322/oz, Ag: $15.91/oz, Cu: $2.86/lb. Calculations used the formula Au Eq g/t = (Aug/t) + (Ag g/t x 0.012) + (Cu% x 1.4835). Allmetals are reported in USD and calculations do not consider metalrecoveries.
- True widths have not been determined as themineralized body remains open in all directions. Further drilling isrequired to determine the mineralized body orientation and truewidths.
Table ll: Drill Data for Holes inPress Release December 15 th ,2020
Attached are Sections 108+00 NE,110+00 NE, 111+00 NE, 112+50 NE, 114+00 NE and 115+50 NE showing holestraces with histogram plots for gold and copper results and a Plan Mapshowing the drill hole and section locations.
Walter Storm, President and CEO ofTudor Gold , stated : “We arevery pleased to announce the safe successful completion of our 2020diamond drill hole program. We completed over four times the amount ofdrilling from the previous year’s program, greatly advancingTudor’s flagship Treaty Creek Property. We completed almost 44,000meters of drilling at the Goldstorm System and over 1,600 meters ofdrilling at the Perfect Storm target. Once we receive the finalresults from the last eleven drill holes, we will then pass the datato our resource engineers and geoscientists for an initial resourceestimate. Continued drilling is required for 2021 to locate the limitsor edges of the mineralized system. Due to the size and robustnature of the mineralization, the Goldstorm System remains open on allfronts and to depth. We are proud of what we have achieved in theselast two years of exploration and in-particular, the great effort towithstand the harsh winter elements during November and December atTreaty Creek to bring the 2020 drill campaign to a safe close. Ourcommitment is to continue to advance the project as quickly aspossible. We have left the track-drill carriage components for twotrack-mounted drill rigs on-site so our team can get an early start tothe 2021 drill season. We look forward to receiving the final resultsof the eleven drill holes from MSA Labs within a couple of weeks tocomplete the 2020 exploration season on schedule.”
D. Cremonese, P. Eng., President of Teuton ResourcesCorp. commented as follows: “Let me give thanks to Walter Storm,Ken Konkin and Sean Pownall of More Core Drilling: they did a superbjob this year at Treaty Creek. Drilling 44,000m beginning in May andfinishing up in the cold winter winds of December—they doubled thelength of the typical Stewart work season and showed it could be doneefficiently and safely. They really advanced the project in 2020 andthe property rewarded us all with excellent results.”
Tudor Gold Corp and its associated service companiesreport that they have taken extreme measures to maintain the highestprofessional standards while working within COVID-19 health and safetyprotocols.
QA/QC
Drill core samples were prepared at MSA Labs'Preparation Laboratory in Terrace, BC and assayed at MSALabs' 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.
Qualified Person
The Qualified Person for this news release for thepurposes of National Instrument 43-101 is Tudor Gold’s VicePresident Project Development, Ken Konkin, P.Geo. He has read andapproved the scientific and technical information that forms the basisfor the disclosure contained in this news release.
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 .
Figures Accompanying News Release
http://teuton.com/PlanViewDec15
http://teuton.com/GSZ10800NEAuCu
http://teuton.com/GSZ11000NEAuCu
http://teuton.com/GSZ11100NEAuCu
http://teuton.com/GSZ11250NEAuCu
http://teuton.com/GSZ11400NEAuCu
http://teuton.com/GSZ11550NEAuCu
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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