(TheNewswire)
Vancouver, Canada – TheNewswire – November 1, 2022- Teuton Resources Corp. (“Teuton” or “theCompany”) (TSXV: TUO ) (OTC:TEUTF) (Frankfurt: TFE ) has received the eighth set of drill resultsfrom its Joint Venture Partner, Tudor Gold, with respect to the 2022exploration 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: “Our entire team isvery pleased to see the continued success of the exploration programin the northern-most limits of the Goldstorm Deposit within domainCS600. We continue to intersect pulses of very strong gold and coppermineralization with 1.82 g/tAuEq ( 1.04 g/t Au, 5.17 g/t Ag and 0.61% Cu) over a 114-metre (m)intercept. Precious and base metal values were equally impressive overdouble this same intercept averaging 1.50 g/t AuEq over 235.5 m in hole GS-22-158 and values were comparable tothe hole above this, GS-22-151-W1 with 1.27 G/T AuEq over 300 m. GS-22-158 successfully undercut GS-22-151-W1 by approximately100-150 m and ended in strong copper-gold mineralization as didGS-22-151-W1. In-fill drilling successfully added confidence with ourresource model as GS-22-156intersected 1.0 g/t AuEq over 294 m within the 300H domain. Thisintercept was punctuated by a high-grade gold intercept of 28.7 g/t Auand 16.2 g/t Ag (28.9 AuEq) over 1.5 m near the bottom of thecomposite. In addition to increasing our depositfootprint northwards, we were also successful in expandingmineralization to the southwest with a 100 m step-out drill hole CB-22-01 whichintersected significant near-surface gold values over 168 m thataveraged 0.68 g/t AuEq. This hole was drilledwell outside the area of the 2021 initial resource model for theGoldstorm Deposit demonstrating that mineralization remains open inall directions and to depth. Crews will be wrapping up the explorationprogram this week and will be collecting several new composites formetallurgical tests with samples for petrographic and ore microscopystudies from our Stewart-based core facility. Our drills have beende-mobilized and both upper and lower camps have been shut down. Wehave several drill holes awaiting results from the lab and we willannounce these results shortly after we receive them. ”
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,Copper Belle Deposit, and Konkin Zones (Sections K, L, 98+50 NE and94+50 NE). At Goldstorm, one out of two holes were drilled partiallyor completely outside the 2021 NI 43-101 Mineral Resource Estimatearea.
A URL for a Treaty Creek plan map and sections isattached here: corresponding Treaty Creek plan map andsections).
GOLDSTORM DEPOSIT
SECTION K
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GS-22-156 wasdrilled as an infill hole within the 300H domain in the area of thefootwall of the Treaty Thrust Fault 1 (TTF1). An intercept of 294.0 m grading 1.0 g/t AuEQ(0.92 g/t Au, 4.38 g/t Ag, 0.02% Cu) wasreturned with a high-grade segment with 13.5 m grading 5.16 g/t AuEQ (4.99 g/t Au,5.17 g/t Ag, 0.09% Cu) .
SECTION L
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GS-22-158 wasdrilled to target the CS600 domain and undercut GS-22-151-W1. Anintercept of the CS600 gold-copper porphyry system was interceptedover a drill length of 592.5 maveraging 1.16 g/t AuEQ (0.73 g/t Au, 3.17 g/t Ag, 0.34%Cu) with an enriched zone of 1.82 g/t AuEQ (1.04 g/t Au, 5.17 Ag, 0.61%Cu) over 114.0 m . This hole confirms theconsistency of mineralization throughout the porphyry system and thatno boundary on the northern side of the system has been encountered.This hole is located 250 m north of the 2021 mineral resourceestimate. Future exploration will target the northerly extension ofthis system.
COPPER BELLE DEPOSIT
SECTION 98+50 NE
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CB-22-01 wasdrilled as a 100 m southeastern step-out hole on the Copper Belledeposit. An interval of 168.0m returned 0.68 g/t AuEQ (0.65 g/t Au, 1.97 g/t Ag, 0.01 %Cu) with a high-grade segment of 4.5 m grading 4.44 g/t AuEQ (4.31 g/t Au,10.78 g/t Ag). This hole confirms the continuityof mineralization to the south of Copper Belle and that the depositremains open.
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CB-22-02 wasdrilled as a 100 m northwestern step-out hole one the Copper Belledeposit. An interval of 39.0 mgrading 0.65 g/t AuEQ (0.62 g/t Au, 0.72 g/t Ag, 0.02 %Cu). This hole confirms the continuity ofmineralization to the south of Copper Belle and that the depositremains open.
KONKIN ZONE
SECTION 94+50 NE
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KZ-22-01 wasdrilled as an exploration hole to follow up on anomalous gold surfacesamples. The hole encountered 46.5 m of 0.53 g/t AuEQ (0.51 g/t Au, 1.36 g/t Ag, 0.01%Cu) as well as a significant gold interval over 9.0 m of 3.60 g/t AuEQ (3.54g/t Au, 5.32 g/t Ag). The hole interceptedpropylitic and phyllic alteration which could be associated with theGoldstorm porphyry system or may be related to a separate intrusiveevent.
Table 1: Drilling Results forGoldstorm, Copper Belle, and Konkin Zone in Press Release November 1,2022
Section | Hole | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu (ppm) | AuEQ (g/t) |
94+50 NE | KZ-22-01 | 90.50 | 96.5 | 6.00 | 2.29 | 4.14 | 103 | 2.35 |
And | 164.00 | 210.5 | 46.50 | 0.51 | 1.36 | 69 | 0.53 | |
And | 306.50 | 315.5 | 9.00 | 3.54 | 5.32 | 32 | 3.60 | |
98+50 NE | CB-22-01 | 21.00 | 189.0 | 168.00 | 0.65 | 1.97 | 62 | 0.68 |
Including | 21.00 | 96.00 | 75.00 | 0.70 | 2.25 | 68 | 0.74 | |
And including | 118.50 | 123.0 | 4.50 | 4.31 | 10.78 | 26 | 4.44 | |
And including | 147.00 | 189.0 | 42.00 | 0.70 | 2.03 | 13 | 0.72 | |
98+50 NE | CB-22-02 | 322.50 | 361.5 | 39.00 | 0.62 | 0.72 | 178 | 0.65 |
And | 351.00 | 360.0 | 9.00 | 1.27 | 1.24 | 193 | 1.31 | |
K | GS-22-156 (300H) | 253.50 | 547.5 | 294.00 | 0.92 | 4.38 | 214 | 1.00 |
Including | 526.50 | 540.0 | 13.50 | 4.99 | 5.17 | 873 | 5.16 | |
Or | 526.50 | 528.0 | 1.50 | 28.70 | 16.20 | 46 | 28.90 | |
And | 622.50 | 660.0 | 37.50 | 0.74 | 6.72 | 1192 | 0.95 | |
And | 702.00 | 716.0 | 14.00 | 1.23 | 2.73 | 105 | 1.28 | |
L | GS-22-158 (CS600) | 793.50 | 1386 | 592.50 | 0.73 | 3.17 | 3369 | 1.16 |
Including | 867.00 | 945.0 | 78.00 | 1.01 | 5.37 | 3606 | 1.50 | |
And | 1110.00 | 1345.5 | 235.50 | 0.87 | 3.98 | 4887 | 1.50 | |
Or | 1219.50 | 1333.5 | 114.00 | 1.04 | 5.17 | 6090 | 1.82 | |
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Table 2: Drill data for holes inPress Release November 1, 2022
Section | Hole ID | UTM E NAD 83 | UTM N NAD 83 | Elevation (m) | Azi (?) | Dip (?) | Depth (m) |
94+50 NE | KZ-22-01 | 427280.30 | 6271718.71 | 1748.25 | 101 | -65 | 672.2 |
98+50 NE | CB-22-01 | 427665.60 | 6271972.16 | 1558.14 | 120 | -60 | 720 |
98+50 NE | CB-22-01 | 427663.13 | 6271974.86 | 1558.25 | 300 | -60 | 810 |
K | GS-22-156 | 428429.03 | 6272984.18 | 1373.36 | 330 | -55 | 716 |
L | GS-22-158 | 428925.03 | 6273439.09 | 1397.48 | 320 | -66 | 1386 |
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.
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.
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 .
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.
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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