(TheNewswire)
Hole G S -20-92 Intersects 3.286 g pt A u E q o ver 82.5 Meters w ithin 531.0 Meters o f 0.999 g ptAu E q; a nd Hole G S -20-91 i n t he 300 Horizon o f t he Goldstorm Zone Intersects 1.112 g ptAu E q o ver 532.5 Meters w ithin 1,033.5 Meters o f 0.856 g pt Au E q
January 7, 2021 – TheNewswire - Vancouver, Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (TSXV: TUO ) (OTC:TEUTF) (Frankfurt-TFE) has received a report from its joint venturepartner Tudor Gold containing results from the last set of holesdrilled in the Goldstorm zone in 2020. The Goldstorm has been thesubject of an intense drilling program in 2020 and lies within theTreaty Creek property, situated in the heart ofthe Golden Triangle of northwestern British Columbia and on-trend fromSeabridge’s KSM and Snowfield Projects located five kilometers tothe southwest.
Results from sampling of 9,621.7 meters of HQ and NQ2core, from 11 diamond drill holes, have recently been received fromMSA Labs. Tudor Gold has completed 50 diamond drill holes at theGoldstorm System (GS) and three diamond drill holes at the PerfectStorm Zone (PSZ), for respective totals of approximately 44,000 meters(GS) and 1,600 meters (PSZ) during the 2020 exploration season. Itwas necessary to abandon two of the final drill holes as groundconditions prevented the safe completion of GS-20-99 and GS-20-101late in the season, however, significant gold and silvermineralization was encountered in GS-20-99 (0.647 gpt AuEq over 109.5meters) and this hole ended in strong stockwork within the DS5 System.Unfortunately drill hole GS-20-101 was abandoned before intersectingthe area of the intended target and this hole will be re-drilled in2021. From the remaining 51 drill holes, all but one were successfulin intersecting the intended targets .
Tudor Gold’s Vice President of Project Development,Ken Konkin, P.Geo., states: “We are verypleased with the results obtained from our 2020 exploration programand we anticipate the completion of an initial resource estimate overthe next few months. We are also determined to continue theexploration efforts in 2021 to better define and potentially expandthe Goldstorm and Perfect Storm Systems. It was not possible toattempt drilling at some of our high priority exploration targets dueto the rapid accumulation of snow in late November and December thatcaused avalanche hazards, therefore, these sites remain as excellentdrill targets. We have since received our explosives permit and havepurchased an explosives magazine so our avalanche teams can now safelyremove snow build-up for the up-coming exploration season. Our goal isto again have a late spring start-up so that we can effectivelyprepare the slopes to allow drilling in the northeast area of theGoldstorm System that was not completed in 2020. The Au-Ag-Cumineralization remains open to the northeast and to the southeast,with the possible exception of section 114+00 NE, where theeasternmost drill hole (GS-20-102) may have defined the southeastlimit in that area.”
Goldstorm Highlights include:
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- Eleven diamond drill holes in this release totalling9,621.7 meters; the favorable composite results are listed in Table 1below.
- Best near-surface intercept was from the 300 Horizonin GS-20-91 on Section 112+50 NE that averaged 0.856 gpt AuEq over 1033.5 meters (60.0-1093.5 m) containing anenriched portion of 532.5 meters (60.0-592.5 m) that averaged 1.112gpt AuEq.
- GS-20-92 also had a remarkable 82.5 meter intercept(213.0-295.5 m) of 3.286 gpt AuEq within the 300 Horizon, which is thehighest grade gold composite interval drilled to date on the project. This lies within a longer intercept of 531.0meters (90.0-621.0 m) averaging 0.999 gpt AuEq
- An aggressive 150 meter step-out drill hole(GS-20-99) extended the DS-5 Zone further to southeast on section115+50 NE. The intercept averaged 0.647 gpt AuEq over 109.5 meters(855.5-965.0 m). The hole was lost at 965.0 meters in strong stockworkand DS5-type mineralization. The system remains open to the northeastand southeast along Section 115+50 NE.
The following two 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:
Section | Hole | Zone | From | To | Interval (m) | Au | Ag | Cu | AuEq |
108*00 NE | GS-20-100 | 300H | 29.0 | 600.5 | 571.5 | 0.521 | 2.95 | 173 | 0.582 |
including | 402.5 | 555.5 | 153.0 | 0.795 | 6.00 | 184 | 0.895 | ||
109*00 NE | GS-20-95 | 300H | 12.0 | 256.5 | 244.5 | 0.671 | 1.98 | 165 | 0.719 |
CS600 | 412.5 | 559.5 | 147.0 | 0.562 | 1.03 | 345 | 0.625 | ||
GS-20-98 | 300H | 10.5 | 282.0 | 271.5 | 0.717 | 1.94 | 96 | 0.755 | |
including | 10.5 | 214.5 | 204.0 | 0.850 | 2.39 | 108 | 0.895 | ||
112+50 NE | GS-20-87 | 300H | 85.5 | 277.5 | 192.0 | 0.894 | 4.03 | 131 | 0.962 |
and | 337.5 | 348.0 | 10.5 | 1.444 | 5.49 | 143 | 1.531 | ||
CS600 | 517.5 | 663.0 | 145.5 | 0.461 | 8.24 | 2689 | 0.958 | ||
DS5 | 702.0 | 804.0 | 102.0 | 0.820 | 4.08 | 141 | 0.890 | ||
GS-20-91 | 300H | 60.0 | 1093.5 | 1033.5 | 0.759 | 4.66 | 275 | 0.856 | |
including | 60.0 | 909.0 | 849.0 | 0.828 | 3.67 | 292 | 0.916 | ||
or including | 60.0 | 592.5 | 532.5 | 1.018 | 3.71 | 334 | 1.112 | ||
114+00 NE | GS-20-84 | 300H | 167.0 | 179.0 | 12.0 | 0.467 | 5.99 | 56 | 0.547 |
CS600 | 524.0 | 690.5 | 166.5 | 0.322 | 9.48 | 2502 | 0.807 | ||
DS5 | 930.5 | 1019.0 | 88.5 | 0.576 | 12.49 | 225 | 0.760 | ||
GS-20-92 | 300H | 90.0 | 1020.0 | 930.0 | 0.637 | 1.72 | 160 | 0.682 | |
including | 90.0 | 621.0 | 531.0 | 0.944 | 1.96 | 213 | 0.999 | ||
and including | 213.0 | 295.5 | 82.5 | 3.220 | 3.74 | 144 | 3.286 | ||
GS-20-102 | No Significant Values | ||||||||
115+50 NE | GS-20-88 | 300H | 178.5 | 444.0 | 265.5 | 0.642 | 1.37 | 79 | 0.670 |
and | 519.0 | 582.0 | 63.0 | 0.891 | 1.50 | 110 | 0.925 | ||
and | 640.5 | 681.0 | 40.5 | 0.671 | 2.39 | 588 | 0.787 | ||
CS600 | 748.5 | 898.5 | 150.0 | 0.302 | 1.62 | 2226 | 0.651 | ||
DS5 | 1162.5 | 1432.5 | 270.0 | 0.466 | 2.84 | 91 | 0.514 | ||
GS-20-99* | DS5 | 855.5 | 965.0 | 109.5 | 0.549 | 6.81 | 106 | 0.647 | |
117+00 NE | GS-20-101* | lost hole | re-drill | in 2021 |
*Lost hole
Gold equivalent composite values from eleven GoldstormZone drill holes
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- 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 = (Au g/t) + (Ag g/t x 0.012)+ (Cu% x 1.4835). All metals are reported in USD and calculations donot consider metal recoveries.
- 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 for Press ReleaseJanuary 7 th , 2021
Section | Hole ID | UTM E NAD83 | UTM N NAD83 | Elevation (m) | Azi (’) | Dip (°) | Depth (m) |
108*00 NE | GS-20-100 | 428355.0 | 6272668.2 | 1301.1 | 295 | -55 | 812.0 |
109*00 NE | GS-20-95 | 428415.8 | 6272747.3 | 1289.3 | 115 | -57 | 582.0 |
GS-20-98 | 428413.9 | 6272748.1 | 1290.1 | 115 | -68 | 534.0 | |
112+50 NE | GS-20-87 | 428541.3 | 6273076.8 | 1366.1 | 115 | -60 | 937.7 |
GS-20-91 | 428667.0 | 6273018.0 | 1287.0 | 287 | -50 | 1191.0 | |
114+00 NE | GS-20-84 | 428659.1 | 6273197.5 | 1368.7 | 115 | -69 | 1064.0 |
GS-20-92 | 428810.8 | 6273080.1 | 1255.6 | 287 | -45 | 1023.0 | |
GS-20-102 | 429094.6 | 6272944.2 | 1234.1 | 290 | -90 | 725.0 | |
115+50 NE | GS-20-88 | 428781.4 | 6273288.4 | 1345.1 | 295 | -75 | 1440.0 |
GS-20-99* | 429128.7 | 6273106.3 | 1223.7 | 290 | -85 | 965.0 | |
117+00 NE | GS-20-101* | 429226.7 | 6273216.6 | 1211.0 | 290 | -90 | 348.0 |
*Lost hole
Attached are Sections 108+00 NE, 109+00 NE, 112+50 NE,114+00 NE and 115+50 NE showing holes traces with gold and copperhistogram results and a Plan Map showing the drill hole and sectionlocations.
Walter Storm, President and CEO OF TudorGold , stated : “Our goal for Tudor Gold is to fast-track the explorationof our flagship Treaty Creek Project. We continue to advance theproject on several fronts including completing our initialmetallurgical work on the Goldstorm System, for which an update willbe issued later this month. In addition, we recently completed thefirst year of an on-going water sampling program and purchased aclimate station that will monitor on-site environmental conditions,providing the data required for base-line studies. Furthermore, we arepreparing a winter access plan to start the 2021 exploration season assoon as the major snowfall season comes to an end in the comingspring. This approach worked extremely well for our start-up team thatwas able to walk-in heavy equipment on the snowpack in 2020, allowingus to start drilling much earlier than previous years. In so doing, wehit a corporate-best for drilling this past year with the completionof 53 drill holes totalling over 45,600 meters. We thank our team ofmen and women who worked safely and diligently during these extremelydifficult conditions.”
Tudor Gold Corp and its associated service companieshave taken extreme measures to maintain the highest professionalstandards while working within COVID-19 health and safety protocols.Only essential personnel are permitted to enter the camp and stagingareas. Of those who are at the project site and staging site, Tudorhas implemented strict daily monitoring of the workers’ temperaturesand general health conditions. Tudor also has acertified paramedic at the staging area to examine all in-coming andout-going Tudor personnel and all service providers.
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 Executive Officer
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 nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
Cautionary Statements regarding Forward-Lookinginformation
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 thatinvolve various risks and uncertainties. There can be no assurancethat such statements will prove to be accurate and actual results andfuture events could differ materially from those anticipated in suchstatements. Important factors that could cause actual results todiffer materially from the Company's plans or expectations includerisks relating to the actual results of current explorationactivities, fluctuating gold prices, possibility of equipmentbreakdowns and delays, exploration cost overruns, availability ofcapital and financing, general economic, market or businessconditions, regulatory changes, timeliness of government or regulatoryapprovals and other risks detailed herein and from time to time in thefilings made by the Company with securities regulators. The Companyexpressly disclaims any intention or obligation to update or reviseany forward-looking statements whether as a result of new information,future events or otherwise except as otherwise required by applicablesecurities legislation.
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