(TheNewswire)
Vancouver, Canada – TheNewswire – August 13, 2022 - TeutonResources Corp. (“Teuton” or “the Company”)(TSXV :TUO ) (OTC:TEUTF) (Frankfurt: TFE ) has received wordfrom its Joint Venture partner, Tudor Gold Corp., that the first set of drill results fromPhase l of the 2022 exploration program on the Treaty Creek propertyhas been received. Drilling is continuing with 8 rigs exploring theGoldstorm and related gold and gold-copper zones, situated fivekilometres to the north of S eabridge Gold’sKSM property and Newcrest Mining’s Brucejack property, the latterrecently acquired for $3.5 billion dollars. The T reaty Creek property is located in the heart of the GoldenTriangle of northwestern British Columbia.
The 2022 program at the Treaty Creek property includesan aggressive resource expansion and delineation plan on several areasincluding 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 Depositfrom sections 109+50 NE, 116+00 NE, and 117+00 NE. All holes weretargeted outside the 2021 Mineral Resource Estimate area (see URL linklocated at the end of this news release).
SECTION 109+50 NE
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GS-22-135 intersected 55.5 meters (m)grading 1.42 g/t AuEq within 190.5 m of 0.80 g/t AuEq . The hole targeted a high-grade intercept from the 2020program (GS-20-66) which sits outside of the current resource area.The new zone has been named “Route 66” and warrants furtherexploration to understand the extents of the system. Visible gold wasidentified in the drill core.
SECTION 116+00 NE
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GS-22-129 stepped out on the DS5 resource area and returned 28.5 m of 2.33 g/t AuEq within 89.35 mgrading 1.02 g/t AuEq . Gold and silvermineralization was encountered past the footwall side of the TreatyThrust Fault 2 (TTF2). The extension of DS5 to the northeast andrenewed understanding of the nature of mineralization shows that thisdomain is vast in size and remains unbounded. GS-22-129 stepped out150 m from the 2021 drilling.
SECTION 117+00 NE
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GS-22-130 intersected DS5 mineralization grading 1.51 g/t AuEq over 45.0 m within 91.5 mgrading 1.17 g/t AuEq . Similar to GS-22-129,mineralization was encountered past the footwall of TTF2. GS-22-130stepped out 175 m from the 2021 drilling.
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GS-22-131 alsotargeted DS5 and intersected mineralization past the footwall of TTF2,returning 1.07 g/t AuEq over26.5 m , within 163.0 m of 0.61 g/t AuEq . GS-22-131 stepped out 115 m from the 2021 drilling.
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GS-22-133 stepped out 200 m from the 2021 northern drilling extents of 300H andCS600 domains. An exceptional interval of 1 .51 g/t AuEq (0.89 g/t Au, 0.49 % Cu) over237.3 m was reported within a broadermineralized zone of 0.91 g/tAuEq over 600.0 m . This confirms the extensionof CS600 to the north and shows an increase of gold and copper gradesat depth.
Ken Konkin, President and CEO ofTudor Gold , commented as follows: “We areextremely pleased with the first set of results of our 2022 Goldstormresource expansion drill program. We continue to encounter stronggold, silver and copper mineralization outside the previously defined resource area. The overall strength andconsistency of the Goldstorm system continues to amaze our entiretechnical team as the deposit remains open in all directions and atdepth. We have commissioned the next set of 200 m to 300 m step-outholes based on these overwhelming positive results. Additionally, wehave confirmed the discovery of a new zone in the southern portion ofGoldstorm which adds yet another dimension to this expanding deposit.Based on an intercept obtained in 2020 from GS-20-66 which wasformerly believed to be part of the CS600 Domain (2.15 g/t AuEq over 75.0 m) , the 100 m step-out hole GS-22-135 interceptedan up-dip expression of 1.42g/t AuEq over 55.5 m. This has been named Route 66 (R-66) . This is clearly a gold-dominant system that exists separateto the known CS600 and DS5 Domains. Drilling continues at a fast paceat Treaty Creek with eight drill rigs on site. Our crews havecompleted over 20,000 m of drilling to-date and we anticipate moreresults to be released in a timely manner throughout thesummer.”
Table 1: Drilling Results Goldstormin Press Release July 12, 2022
Section | Hole | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu (ppm) | AuEq (g/t) |
109+50 NE | GS-22-135 (1) (R-66) | 185.00 | 375.50 | 190.50 | 0.78 | 0.74 | 149 | 0.80 |
Including | 185.00 | 240.50 | 55.50 | 1.38 | 1.03 | 212 | 1.42 | |
Or | 195.50 | 225.50 | 30.00 | 1.84 | 1.01 | 174 | 1.88 | |
116+00 NE | GS-22-129 (DS5) | 968.15 | 1057.50 | 89.35 | 0.88 | 9.47 | 297 | 1.02 |
Including | 994.50 | 1023.00 | 28.50 | 2.07 | 16.87 | 525 | 2.33 | |
117+00 NE | GS-22-130 (DS5) | 1029.00 | 1120.50 | 91.50 | 1.04 | 7.30 | 304 | 1.17 |
Including | 1072.50 | 1117.50 | 45.00 | 1.40 | 7.14 | 243 | 1.51 | |
117+00 NE | GS-22-131 (DS5) | 1155.50 | 1318.50 | 163.00 | 0.45 | 4.77 | 811 | 0.61 |
Including | 1155.50 | 1182.00 | 26.50 | 0.79 | 13.19 | 1075 | 1.07 | |
Or | 1288.50 | 1315.50 | 27.00 | 0.72 | 1.75 | 51 | 0.75 | |
117+00 NE | GS-22-133 (300H) | 345.00 | 453.00 | 108.00 | 0.57 | 2.37 | 63 | 0.61 |
And (300H) | 670.50 | 711.00 | 40.50 | 1.35 | 0.63 | 24 | 1.36 | |
And (300H, CS600, DS5) | 804.00 | 1404.00 | 600.00 | 0.60 | 2.35 | 2414 | 0.91 | |
Including (CS600) | 1081.50 | 1318.80 | 237.30 | 0.89 | 3.97 | 4895 | 1.51 | |
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Table 2: Drill data for holes inPress Release July 12, 2022
Section | Hole ID | UTM E NAD 83 | UTM N NAD 83 | Elevation (m) | Azi (?) | Dip (?) | Depth (m) |
109+50 NE | GS-22-135 | 428780.2 | 6272598.5 | 1271.5 | 295 | -85 | 500 |
109+50 NE | GS-22-132 | 428779.0 | 6272599.0 | 1271.3 | 295 | -85 | 282.25 |
116+00 NE | GS-22-129 | 429201.5 | 6273086.4 | 1213.8 | 300 | -88 | 1168.3 |
117+00 NE | GS-22-130 | 429209.7 | 6273196.2 | 1210.0 | 300 | -88 | 1161 |
117+00 NE | GS-22-131 | 429296.8 | 6273292.4 | 1201.1 | 296 | -84 | 1335 |
117+00 NE | GS-22-133 | 428923.2 | 6273439.2 | 1392.4 | 302 | -62 | 1404 |
Qualified Person
The Qualified Person for this news release for thepurposes of National Instrument 43-101 is Tudor Gold’s Presidentand CEO, 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 that forms thebasis for the disclosure contained 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 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 and inshares of the optionee companies over the past 6 years, has provided Teuton with substantial income.
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 (carried until such time as aproduction decision is made) and a 0.98% NSR in the Goldstorm depositarea. It also owns numerous additional royalty interests within theSulphurests Hydrothermal system on properties such as the King Tut,Tuck, High North, Orion, Delta and Fairweather properties. Interestedparties can access information about Teuton at the Company’swebsite, www.teuton.com .
URL for various maps:
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 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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