(TheNewswire)
Vancouver, Canada – TheNewswire – October 5, 2022 - TeutonResources Corp. (“Teuton” or “the Company”) (TSXV: TUO ) (TFE:Frankfurt) (OTC:TEUTF) has received the seventh set ofdrill results from its Joint Venture Partner, Tudor Gold, with respectto the 2022 exploration program at the Treaty Creek property. T he property is located in the heart of the Golden Triangle ofnorthwestern British Columbia, adjoining and on geological trend withS eabridge Gold’s KSM property and NewcrestMining’s Brucejack property.
Ken Konkin, President and CEO ofTudor Gold , commented: “We are very pleased toconfirm that our step-out and in-fill drilling is progressingextremely well. We continue to intersect higher gold values withinbroad mineralized envelopes within the northern aspect of theGoldstorm Deposit. Both 300H and CS600 domains yield very consistentgold mineralization with continued strong copper grades observedthroughout the CS600 domain. Our geological team was delighted toobserve a similar pulse of enriched gold mineralization within the300H domain with holes GS-22-145-W1 (2.00 g/t AuEq over 66.0 m) and GS-22-154 (4.38 g/tAuEq over 57.0 m) which areapproximately 400 m apart. These holes alsoshare the similar characteristic of containing a higher-grade core of 8.22 g/t AuEq over 5.0 m(GS-22-145-W1) and 7.84 g/t AuEq over 15.0 m(GS-22-151-W1) . Exploration for the high-gradegold potential in the northern region of the Goldstorm Deposit will bea priority for the 2023 exploration season. Additionally, the CS600domain continues to demonstrate very strong and consistent coppermineralization with obvious disseminated and veinlet chalcopyritethroughout the CS600 domain with notable addition of disseminatedbornite in the deeper portions of the domain. There is also a distincthigher-grade of copper mineralization of 0.57% Cu over 99.0 m within a 199.0 menvelope of 0.44% Cu (GS-22-154) in the CS600 domain . Drilling is expected to continue well into October as theGoldstorm Deposit remains open in all directions and atdepth.”
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 fromfive diamond drill holes that were drilled on the Goldstorm Deposit(Sections 114+00, 116+50 and Section J). At Goldstorm, four out offive holes were drilled partially or completely outside the 2021 NI43-101 Mineral Resource Estimate area (see end of the release for aURL link to plan map and sections).
GOLDSTORM DEPOSIT
SECTION 114+00 NE
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GS-22-155 wasdrilled to target the footwall of the Treaty Thrust Fault 1 (TTF1)where the March 2021 NI 43-101 Mineral Resource Estimate classifiedthe area largely as Inferred Mineral Resource. The drill holesuccessfully intercepted mineralization in close proximity to TTF1,below which intercepted 136.5m grading 1.62 g/t AuEq (1.54 g/t Au, 3.49 g/t Ag, 0.04 % Cu) within abroader envelope of 1.28 g/t AuEq (1.20 g/t Au, 3.39 g/t Ag, 0.04 %Cu) over 222.0 m.
SECTION 116+50 NE
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GS-22-154 wasdrilled to target an area down-plunge of the CS600 domain, whichexists outside of the March 2021 Mineral Resource area. Preliminaryresults were released on September 12, 2022 to a depth of 1236.0, withan initial interpretation of a higher-grade zone being attributed tothe 300H domain. An interval consisting of steeply dipping,north-trending quartz stockwork veins and veinlets bearing sulphosaltminerals, pyrite, and sphalerite returned 57.0 m grading 4.38 g/t AuEq (4.30 g/t Au, 5.91 g/t Ag,0.01 % Cu) with an enriched interval of 15.0 m grading 7.84 g/t AuEq(7.76 g/t Au, 6.58 g/t Ag, 0.01 % Cu).
At depth, the CS600 domain was intercepted and reported 199.5 m grading 1.04 g/t AuEq(0.45 g/t Au, 3.01 g/t Ag, 0.44 % Cu) in theintrusive hosted Gold-Copper porphyry system.
SECTION J
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GS-22-145 wasdrilled to target a deep intercept of CS600, however, was terminateddue to unfavorable deviation and was then used as a parent hole forwedging. However, this drill hole intercepted a mineralized systemthat graded 0.90 g/t AuEq(0.77 g/t Au, 9.27 g/t Ag, 0.02 % Cu) over 127.0 m before it was stopped.
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GS-22-145-W1 was drilled as a wedge daughter hole from GS-22-145 and was designedto target the CS600 domain. The hole intercepted strong sulphidemineralization which correlated well to that intercepted in GS-22-154,within a quartz stockwork system. The intercept averaged 2.00 g/t AuEq(1.86 g/t Au, 10.54 g/t Ag, 0.01 % Cu) over 66.0 m. An enriched portion of the interval returned 8.22 g/t AuEq (8.16 g/t Au, 4.80 g/t Ag)over 5.0 m This stockwork interval was located400 m from the high-grade interval intercepted in GS-22-154.
Minor CS600 style mineralization was noted at depth,however, the drill hole experienced excessive lift at depth and thehole intercepted peripheral CS600 mineralization.
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GS-22-151-W1 continued from its parent drill hole GS-22-151 to intersect thenorthwest extent of CS600. Preliminary results were reported in theSeptember 12, 2022 press release to a depth of 946.5 m. In addition tothe preliminary results, the CS600 domain was intercepted with a totalof 300.0 m grading 1.27 g/tAuEq (0.95 g/t Au, 2.43 g/t Ag, 0.25 % Cu). Intervals of stronger mineralization were also recorded, such as 7.5 m grading 4.10 g/t AuEq(3.96 g/t Au, 3.85 g/t Ag, 0.08 % Cu).
Table 1: Drilling Results for theGoldstorm Deposit in Press Release
Section | Hole | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu (ppm) | AuEq (g/t) |
J | GS-22-145 (300H) | 531.00 | 658.00 | 127.00 | 0.77 | 9.27 | 168 | 0.90 |
including | 618.00 | 658.00 | 40.00 | 0.86 | 25.50 | 354 | 1.20 | |
J | GS-22-145-W1 (300H) | 32.00 | 341.00 | 309.00 | 0.83 | 3.78 | 101 | 0.89 |
Including | 272.00 | 338.00 | 66.00 | 1.86 | 10.54 | 116 | 2.00 | |
Or including | 317.00 | 322.00 | 5.00 | 8.16 | 4.80 | 40 | 8.22 | |
And (CS600) | 1562.00 | 1589.00 | 27.00 | 1.00 | 14.58 | 784 | 1.26 | |
J | GS-22-151-W1 (300H) (1) | 57.00 | 139.5 0 | 82.50 | 1.22 | 1.40 | 176 | 1.25 |
And | 423.00 | 508.50 | 85.50 | 0.86 | 1.68 | 625 | 0.95 | |
And | 532.50 | 627.00 | 94.50 | 0.76 | 1.50 | 1152 | 0.92 | |
And (CS600) | 744.00 | 1044.00 | 300.00 | 0.95 | 2.43 | 2493 | 1.27 | |
Including | 744.00 | 745.50 | 1.50 | 59.30 | 12.80 | 663 | 59.53 | |
And including | 1003.50 | 1042.50 | 39.00 | 1.81 | 3.64 | 1177 | 1.99 | |
Or | 1014.00 | 1032.00 | 18.00 | 2.85 | 2.50 | 707 | 2.96 | |
Or | 1024.50 | 1032.00 | 7.50 | 3.96 | 3.85 | 800 | 4.10 | |
116+50 NE | GS-22-154 (300H) (2) | 418.50 | 598.50 | 180.00 | 1.97 | 3.72 | 124 | 2.02 |
Including | 429.00 | 522.00 | 93.00 | 3.12 | 4.59 | 101 | 3.18 | |
Or | 438.00 | 495.00 | 57.00 | 4.30 | 5.91 | 96 | 4.38 | |
Or | 438.00 | 453.00 | 15.00 | 7.76 | 6.48 | 63 | 7.84 | |
And (CS600) | 1251.00 | 1450.50 | 199.50 | 0.45 | 6.01 | 4366 | 1.04 | |
Including | 1299.00 | 1398.00 | 99.00 | 0.52 | 8.83 | 5686 | 1.30 | |
114+00 NE | GS-22-155 (300H) | 475.50 | 697.50 | 222.00 | 1.20 | 3.39 | 389 | 1.28 |
Including | 492.00 | 628.50 | 136.50 | 1.54 | 3.49 | 364 | 1.62 | |
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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) |
J | GS-22-145 | 428923.20 | 6273439.00 | 1392.40 | 302 | -56 | 658 |
J | GS-22-145-W1 | 428689.52 | 6273593.80 | 969.07 | 288 | -53 | 1436 |
J | GS-22-151-W1 | 428786.79 | 6273625.20 | 957.30 | 323 | -62 | 1068 |
116+50 NE | GS-22-154 | 428781.30 | 6273288.30 | 1344.90 | 293 | -57 | 1551 |
114+00 NE | GS-22-155 | 428651.00 | 6273191.00 | 1369.00 | 295 | -55 | 822.5 |
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 .
Exploration Update—Harry Property,Big Gold & Eskay Rift Properties
Harry Property
Teuton Resources’ optionee, Optimum Ventures Inc.(“Optimum”) has reported that it has received the gold and silverassays for select samples from the BR, Usrula and Golden Summit zoneslocated on the Harry property.
Highlights of the sampling include:
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1.8 to 26.60 g/t Au and 282.9 to1003.2 g/t Ag from 5 samples on the BR zone.
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0.8 to 6.5 g/t gold and 131.3 to208.1 g/t silver on the Ursula zone.
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0.1 to 2.30 g/t Au and 470.3 to5477.4 g/t Ag on the Golden Summit zone.
Shaw drilling of 1 m holes on the Saw Cut zone hasintersected abundant sphalerite (ZnS) over at least 10 m within anoverall zone that is up to 40 m wide. Grab sample assaying of thiszone produced results ranging from 0.1 to 5.4 g/t Au and 10.2 to 158.4g/t Ag (from 3 samples) associated with the strong sphaleritemineralization.
The new zone, Ursula South, consists of mineralizationin a stockwork of galena-sphalerite veins up to 0.8 m wide over awidth of 5 m. This new zone is located in an overburden areaapproximately 75 m south of the Ursula zone.
Assays were conducted by Seacan Labs Stewart based inStewart, BC.
Under the terms of the option agreement between Teutonand Optimum, Optimum can earn up to an 80% interest in the Harryproperty 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 will retain a 2.0% NetSmelter Royalty and a 20% interest after the option is exercised.
Big Gold & Eskay RiftProperties
Prospecting and sampling over ground covered by, or inthe vicinity of, several large geophysical anomalies detected by a2018 airborne ZTEM survey conducted by Geotech has now been completed.About 85% of samples taken have now been sent for assay.
On the Big Gold property certain samples sent in earlyduring the season have been received and show an area containinganomalous copper values.
On the Eskay Rift property, prospecting and sampling ofblack mudstone horizons (up to 10m thick) capped by basalts andextending along strike for hundreds of meters have been completed. Samples from many of these horizons have shown occasionalchalcopyrite mineralization along with pyrite, pyrrhotite and possiblymagnetite. The mineralization in the horizons is often veryfine-grained and laminar. One of the horizons carrying chalcopyritewas very cherty.
Samples taken below the horizons on the ice from twoprominent boulder trains have also shown occasional chalcopyritesometimes associated with an unidentified, fine-grained blue mineral.Further exploration will depend on assay results, expected within twoto three months because of a backlog at the assay lab.
Teuton revises 2022 Stock OptionPlan
Teuton has revised its previously announced 2022 Stock Option Plan (see News Release dated March 7,2022—this plan could not be approved by the TSX because it did notmeet policy requirements). The number of shares which can bereserved for issuance under the revised plan is 5,723,688, which is 10per cent of the 57,346,881 shares currently outstanding. Aftertaking into consideration currently valid, previously granted options,there are 3,330,500 options now available for granting. The plan,which has an effective date of Sept. 21, 2022, is subject toacceptance by the TSX-V.
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.
The Qualified Person for the Harry, Big Gold and EskayRift properties portion of this news release is Dino Cremonese,P.Eng.. Mr. Cremonese as the President of Teuton is not independentof the Company. Although he has not personally supervised thesampling on the Harry property (the Harry property is under option toOptimum), he has no reason to believe the results reported areinaccurate.
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 in cash and oftenalso in shares of the optionee companies), has provided Teuton withsubstantial income over the years.
URL for various Treaty maps:
http://teuton.com/7thTreatyFigures
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 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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