(TheNewswire)
Highlights from 2022 Exploration onTeuton’s Properties in the Golden Triangle:
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Treaty Creek Property -- HoleGS-21-113-W2 extended into potassic altered zone. Extension to depthruns 2.48 g/t AuEq over 168 m (gold – 1.41 g/t Au, copper - 0.82%). Overall composite of zone ran 1,497.5 m of 1.12 g/t AuEq.
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Harry Property -- Optionee OptimumVentures carries out IP surveys, prospecting and sampling onTeuton’s Harry property, in preparation for drilling.
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Big Gold, Eskay Rift, Pearson andTennyson properties -- Teuton ground-truths major ZTEM airborneanomalies.
Vancouver, Canada –– TheNewswire = August 15, 2022 - Teuton Resources Corp. (“Teuton” or “theCompany”) (TSXV: TUO ) (OTC:TEUTF) (Frankfurt: TFE ) has received the fourth set of drill resultsfrom its Joint Venture Partner, Tudor Gold, concerning Phase l of the2022 exploration program at the Treaty Creek property. T he property islocated in the heart of the Golden Triangle of northwestern BritishColumbia, adjoining and on geological trend with S eabridge Gold’s KSM property and Newcrest Mining’sBrucejack property.
Ken Konkin, President and CEO ofTudor Gold , commented as follows: “During the2021 drill program, we drilled hole GS-21-113-W2 to the maximum depthpossible and noted that the strongest sulphide mineralization occurredat the bottom of this hole. A decision was made to leave the casingand HQ rods in GS-21-113-W2 with the plan of returning to re-enter thehole this year with a more powerful diamond drill rig and wesucceeded! The hole was extended 280.1 meters (m) demonstrating thatgold and copper grades increase with depth as the strongestmineralization occurs between 1520 m and 1688 m. This portion of thehole averages 2.48 g/t AuEq over 168 m with copperaveraging 0.82 % . Silver mineralization is alsobecoming stronger at depth within the CS600 domain. In addition,results from targeting the DS5 domain were also successful with drillhole GS-22-139 whichintersected 438 m of 1.07 g/t AuEq and included an enriched upperportion that averaged 1.36 g/t AuEQ over 172.4 m. As previously reported, high-grade visible native gold hasoccurred from two of three aggressive step-out holes that were225-meter and 500-meter step-out holes from the 2021 drilling programwithin the northeastern sector of the Goldstorm Deposit. Thesehigh-grade gold results may add a new dimension to the explorationpotential of this project and we will continue to advance and explorethis rapidly expanding aspect of these well mineralizeddomains.”
The Program at the Treaty Creek property includes anaggressive resource expansion and delineation plan for several areas,including the Goldstorm Deposit and the Eureka and Calm Before theStorm Zones. Results included in this press release are reported fromsix diamond drill holes that were drilled on the Goldstorm Depositfrom sections C and D. Five out of six holes were targeted outside the2021 Mineral Resource Estimate area (see the end of the release for alink to a plan map and various section maps).
GOLDSTORM DEPOSIT
SECTION C
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GS-21-113-W2 , a2021 drill hole (see November 30, 2021 press release), was re-enteredand extended by 280.1 m to a total depth of 1855.1 m. The compositedinterval that includes 300H and CS600 domains, that was calculated in2021, has been expanded from 1320.0 m of 0.97 g/t AuEQ to 1497.5 m grading 1.12 g/t AuEq . The CS600 domain intercept was expanded from 556.5 m of1.38 g/t AuEq to 732.0 mgrading 1.60 g/t AuEq. The high-grade bottomsegment of CS600 originally reported 57.0 m grading 2.34 g/t AuEqwhich has now been extended to 168.0 m of 2.48 g/t AuEq (1.41 g/t Au, 0.82 % Cu); visible gold wasnoted in one core sample . The drill holesuccessfully exited the lower boundary of the CS600, however, adowndip boundary (northwest boundary) of the orebody has not beenidentified and the CS600 currently remains open at depth where goldand copper grades are the highest. Increasing grades at depth areclosely correlated with increasing potassic alteration as drillinginformation vectors towards the magmatic source of this extensiveporphyry system.
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GS-22-143 stepped out 225 m to the northeast from the 2021 drilling and targeted300H and CS600 mineralization. In addition to the high-grade interval of 39.15 g/t AuEq over2.0 m that was previously reported (see July 26,2022 press release) a 102.25 minterval grading 0.98 g/t AuEq in the CS600 areawas intercepted which included a 1.5 m interval of 14.7 g/t AuEq . The holeskimmed the upper boundary of the CS600, however, deviation did notallow the hole to get into the core of the porphyry where highergrades have been measured. The hole was stopped short of the targetdue to pad conditions. Assays for this hole are fully reported in thispress release.
SECTION D
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GS-22-139 targeted the DS5 domain and returned 438.0 m grading 1.07 g/t AuEq. Within this, two high-grade intervals consisted of 28.4 m grading 1.95 g/tAuEq and 24.0 m grading 2.05 g/t AuEq This hole islocated 250 m to the northeast from the 2021 drill holes.
Table 1: Drilling Results forGoldstorm Deposit
Section | Hole | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu (ppm) | AuEq (g/t) |
C | GS-21-113-W2 (1) (300H + CS600) | 255.00 | 1752.50 | 1497.50 | 0.76 | 3.70 | 2685 | 1.12 |
Including (300H) | 255.00 | 352.50 | 97.50 | 1.25 | 2.16 | 78 | 1.28 | |
And including (300H) | 590.00 | 659.00 | 69.00 | 1.80 | 3.61 | 78 | 1.85 | |
And including (CS600) | 1019.00 | 1751.00 | 732.00 | 0.91 | 5.65 | 5314 | 1.60 | |
Or | 1520.00 | 1688.00 | 168.00 | 1.41 | 9.07 | 8153 | 2.48 | |
D | GS-22-139 (DS5) | 714.00 | 1152.00 | 438.00 | 0.96 | 7.33 | 171 | 1.07 |
Including | 735.0 0 | 907.4 0 | 172.40 | 1.17 | 13.57 | 283 | 1.36 | |
Or | 760.50 | 832.50 | 72.00 | 1.49 | 6.02 | 171 | 1.58 | |
Or | 879.00 | 907.40 | 28.40 | 1.35 | 43.71 | 751 | 1.95 | |
And including | 997.50 | 1112.00 | 114.50 | 1.21 | 3.23 | 74 | 1.26 | |
Or | 1009.50 | 1044.00 | 34.50 | 1.57 | 3.24 | 78 | 1.62 | |
Or | 1081.50 | 1105.50 | 24.00 | 1.99 | 4.22 | 99 | 2.05 | |
n/a | GS-22-140 (2) | Hole was lost and abandoned, nosignificant values, plan to re-drill target | ||||||
n/a | GS-22-141 (3) | Hole was lost and abandoned, nosignificant values, plan to re-drill target | ||||||
C | GS-22-142 (3) | Hole was lost and abandoned, nosignificant values, plan to re-drill target | ||||||
C | GS-22-143 (4) (300H) | 559.00 | 561.00 | 2.00 | 38.90 | 15.96 | 531 | 39.15 |
Including | 560.00 | 561.00 | 1.00 | 70.60 | 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 | |
And (CS600) | 1113.00 | 1215.25 | 102.25 | 0.79 | 1.47 | 1421 | 0.98 | |
Including | 1212.00 | 1213.50 | 1.50 | 14.20 | 11.18 | 3090 | 14.70 | |
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Table 2: Drill data for holes inPress Release
Section | Hole ID | UTM E NAD 83 | UTM N NAD 83 | Elevation (m) | Azi (?) | Dip (?) | Depth (m) |
D | GS-22-139 | 429255.0 | 6273307.0 | 1204.0 | 87 | -76 | 1217 |
n/a | GS-22-140 | 429362.3 | 6273150.3 | 1202.2 | 295 | -87 | 269 |
n/a | GS-22-141 | 428741.8 | 6272910.4 | 1248.0 | 295 | -82 | 138 |
C | GS-22-142 | 429077.7 | 6273007.9 | 1228.0 | 295 | -85 | 261 |
C | GS-21-113-W2 | 428679.3 | 6273341.8 | 1076.9 | 301 | -64.5 | 1855.1 |
Qualified Person
The Qualified Person for the Treaty Creek technicalinformation in this news release is Tudor Gold’s President andCEO, 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 in regard to theTreaty Creek property that forms the basis for the disclosurecontained 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 the TreatyCreek Property
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 (Tudor Gold is responsible for paying all explorationcosts up until such time as a production decision is made) and a 0.98%NSR in the Goldstorm deposit area. It also owns numerous additionalroyalty interests within the Sulphurests Hydrothermal system onproperties such as the King Tut, Tuck, High North, Orion, Delta andFairweather properties. Interested parties can access informationabout Teuton at the Company’s website, www.teuton.com .
OPTIMUM VENTURES COMMENCES EXPLORATION ON TEUTON’S HARRYPROPERTY
An IP survey is being conducted over target areas onthe Harry property by Simcoe Geoscience. Extensive prospecting andsampling are also taking place.
The Harry property was optioned by Teuton to OptimumVentures in 2021. Tyler Ross, President of Optimum Ventures,commented: “We are excited to get back to work on the Harry project,unlocking the potential value for our shareholders. The priority ofthis Exploration program is to prepare for the forthcoming drilling totest both the Swan and Milestone zones as well as to collect more dataon multiple structures throughout the numerous sericite-pyritealteration zones. Drilling will focus on extending the strike and dipof the Swan zone.”
To date 400 samples have been sent to MSA Labs inTerrace, B.C.
About the HarryProperty
The property is nearby infrastructure includingyear-round road access, a powerline, and an ice-free port in Stewart.In addition, a mill is being constructed by Ascot Resources at thesite of the historical Premier Mine, located a few kilometers south ofthe Harry.
The Harry hosts several 500 metre (“m”) wide zonesof intense alteration that trend NW along the claim length. Withinthis intense alteration, sericite along with abundant pyrite isprevalent. Quartz veins, quartz breccias and semi-massive sulphidesoccur within these alteration zones. This type of alteration andmineralization is also found at the nearby gold deposits beingdeveloped by Ascot Resources..
In 2020, a new zone of mineralization in quartzbreccias associated with fine arsenopyrite ( “ Milestone ”) was discovered on the Harryproperty averaging 7.86 oz/ton Au (269.5 g/t) across a 2 m width. The full width of thisnew zone has not been defined due to overburden cover (see the 43-101report at: Sedar.com under Optimum Ventures ).
In 2021, 22 samples were collected from a boulder trainnear the new Swan discovery which ranged in v alue from 0.76 to 286.2 g/t Au, 246 to 2202 g/t Ag, 21.5 to 57.33 %Pb, 0.07 to 2.87 % Cu and 0.41 to 32.11 % Zn. Two holes drilledinto the Swan that year reported the following assays:
Drill Hole # | From (m) | To (m) | Interval (m)* | Cu (%) | Pb (%) | Zn (%) | Au (g/t) | Ag (g/t) |
S21-3 | 8.75 | 24.39 | 15.64 | 0.606.37 | 7.17 | 8.74 | 3.10 | 433.4 |
S21-4 | 14.57 | 23.78 | 9.26 | 0.745 | 14.0 | 9.33 | 1.64 | 690.1 |
* Statedlengths in meters are downhole core lengths and not true widths.
Option terms allow Optimum to earn up to an 80%interest by carrying out $9 million of work over five years. Optimummust also pay Teuton $1.5 million in cash and issue 4,000,000 sharesto Teuton over the option period. Teuton retains a 2.0% Net SmelterRoyalty and a 20% interest after the option is exercised.
TEUTON GROUND-TRUTHS VARIOUSGEOPHYSICAL ANOMALIES
Surface sampling and prospecting began in early July inthe vicinity of several large, ZTEM anomalies detected during a 2018airborne survey found on the Big Gold, Eskay Rift, Pearson and Tennyson properties (all four properties are100%-owned). A lingering snow apron at high altitude has limited thearea available for investigation.
This work is expected to continue into September. TheCompany hopes that it can gather enough information this year to makea decision to drill the best targets uncovered.
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 andin shares of the optionee companies, has provided Teuton withsubstantial income.
URL for various maps:
http://teuton.com/NR0815figures .
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 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 orexpectations include risks relating to the actual results of currentexploration activities, fluctuating gold prices, possibility ofequipment breakdowns and delays, exploration cost overruns,availability of capital and financing, general economic, market orbusiness conditions, regulatory changes, timeliness of government orregulatory approvals and other risks detailed herein and from time totime in the filings made by the Company with securities regulators.The Company expressly disclaims any intention or obligation to updateor revise any forward-looking statements whether as a result of newinformation, future events or otherwise except as otherwise requiredby applicable securities legislation.
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