(TheNewswire)
Vancouver, Canada –– TheNewswire - Teuton Resources Corp. (“Teuton” or “the Company”)(TSXV: TUO ) ("TFE"- Frankfurt) has received the sixth set of drill results from its JointVenture Partner, Tudor Gold, with respect to the 2022 explorationprogram 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: “We areextremely pleased to announce the on-going success of the step-outdrilling at our Goldstorm Deposit. Yet another drill hole hasintersected high-grade gold within the northeastern front of thisDeposit. Drill hole GS-22-151-W1 was designed to undercut valuesobtained from GS-22-134 which yielded 0.97 g/t AuEq over 663.0 m with an enrichedzone of 1.76 g/t AuEq over 205.5 m additionallythis intercept contained a high-grade gold-bearing pyritic quartzbreccia of 20.86 g/t AuEq over4.5 m with multiple grains of visible gold (reported July 19,2022). GS-22-151-W1 intersected a semi-massivepyrite-quartz breccia, hydrothermal stockwork, approximately 275 mbelow the GS-22-134 high-grade gold intercept. This high-grade 1.5 m intercept of 59.53 g/t AuEq within GS-22-151-W1 represents a 350-meter step-out intercept fromthe 2021 drilling. Our technical team views this as a significantdiscovery as these high-grade intercepts may be connected but furtherdrilling is recommended to confirm the orientation and consistencyalong the structural corridor which hosts these and other recentlyreported high-grade intercepts within the northeastern aspect of theGoldstorm Deposit. Drilling results from hole GS-22-151-W1 have beenpartially received to date and have been reported as such. Completeassays for incomplete holes included here will be fully reported inthe subsequent drill results release.
“Additionally, we are enjoying success with ourin-fill drill program. Drill hole GS-22-154 was drilled in-place ofGS-22-152 which was stopped due to extreme hole deviation that couldnot be corrected. GS-22-154intersected 2.02 g/t AuEq over 180 m with an enriched core thatcarried 3.18 g/t AuEq over 93 m within the 300H domain. However, muchhigher gold values of 4.38 g/t AuEq over 57 m with an enriched portionof 7.84 g/t AuEq over 15 m were intersected in the upper portion ofthe fore-mentioned 3.18 g/t AuEq over 93 m.
“We have reported results from approximately 60% ofthe holes completed to-date. After drilling is completed, we will planto incorporate these recent extraordinary results into an updated NI43-101 Mineral Resource Estimate for 2023. The Goldstorm Depositremains open in all directions and at depth.”
Natalie Senger, VP Resource Development of Tudor Goldadded: “These drill results will contribute to the redefinition ofthe Copper Belle and Goldstorm resource domains. The 2021 and 2022drilling has significantly improved our understanding of thecontinuity of mineralization, especially within the inferred resourceportions of the DS5 and CS600 domains. Tudor’s objective is tooptimize the resource domains by focussing on the most contiguousportions of mineralization with the highest grades, while optimizingthe overall ounces of gold, silver, and copper. We are confident thatthe next NI 43-101 Mineral Resource Estimate will provide a much morerobust model on which to develop the project and to continueexploration where necessary.”
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 111+25 NE, 116+50 NE, and Section I). At Goldstorm, three out of five holes were drilled partially orcompletely outside the 2021 NI 43-101 Mineral Resource Estimate area(see URL at the end of this release for Treaty Creek plan map andsections).
GOLDSTORM DEPOSIT
SECTION 111+25 NE
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GS-22-153 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 TTF1, below which intercepted 180.0 m grading1.02 g/t AuEQ (0.96 g/t Au, 3.68 g/t Ag, 0.02 % Cu) within a broaderenvelope of 0.75 g/t AuEQ (0.70 g/t Au, 3.20 g/t Ag, 0.01 % Cu) over355.3 m.
SECTION 116+50 NE
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GS-22-154 wasdrilled to target an area downdip of the CS600 domain, which existsoutside of the March 2021 Mineral Resource area. The drill hole alsointersected the 300H domain and encountered significantmineralization; 93.0 m grading 3.18 g/t AuEQ (3.12 g/t Au, 4.59 g/tAg, 0.01 % Cu) within a 180.0 m envelope of 2.02 g/t AuEQ (1.97 g/tAu, 3.72 g/t Ag, 0.01 % Cu). Assays for the CS600 interval are pendingand will be released in the next drill results release.
SECTION I
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GS-22-151 wasdrilled to target a 150 m step out from GS-22-133. The hole shallowedmore than expected and the drill hole was terminated, and a new wedgedrill hole (GS-22-151-W1) was drilled from this drill hole. Prior totermination, the hole reached mineralization that averaged 1.20 g/tAuEQ (1.19 g/t Au, 0.66 g/t Ag, 0.01 % Cu) over 18.0 m.
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GS-22-151-W1 continued from its parent drill hole GS-22-151 to intersect thenorthwest extent of CS600. A high-grade interval of 59.53 g/t AuEQ(59.30 Au, 12.80 g/t Ag, 0.07 % Cu) over 1.5 m was drilled at thehangingwall side of the CS600 domain within a broader envelope of202.5 m grading 1.27 g/t AuEQ, (0.93 g/t AuEQ, 1.92 g/t Ag, 0.27 %Cu). Assays for the complete CS600 interval are pending and will bereleased in the next drill results release.
Table 1: Drilling Results for theGoldstorm Deposit in Press Relese
Section | Hole | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu (ppm) | AuEQ (g/t) |
I | GS-22-151 (300H) | 549.0 0 | 567.0 0 | 18.00 | 1.19 | 0.66 | 76 | 1.20 |
I | GS-22-151-W1 (300H) | 57.00 | 508.50 | 82.50 | 1.22 | 1.40 | 176 | 1.25 |
(CS600) | 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 | 744.00 | 946.50 | 202.50 | 0.93 | 1.92 | 2685 | 1.27 | |
Including | 744.00 | 745.50 | 1.50 | 59.30 | 12.80 | 663 | 59.53 | |
n/a | GS-22-152 (1) | No significant values | ||||||
111+25 NE | GS-22-153 (300H) | 303.20 | 658.50 | 355.30 | 0.70 | 3.20 | 136 | 0.75 |
Including | 327.00 | 459.00 | 132.00 | 0.96 | 3.68 | 207 | 1.02 | |
116+50 NE | GS-22-154 (300H) | 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 | |
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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) |
I | GS-22-151 | 428936.00 | 6273443.20 | 1391.00 | 317 | -62 | 567 |
I | GS-22-151-W1 | 428786.79 | 6273625.20 | 957.30 | 323 | -62 | 1068 (1) |
n/a | GS-22-152 | 428659.10 | 6273197.54 | 1368.70 | 305 | -63 | 300 |
111+25 NE | GS-22-153 | 428430.90 | 6272982.47 | 1371.20 | 300 | -56 | 834 |
116+50 NE | GS-22-154 | 428781.30 | 6273288.30 | 1344.90 | 293 | -57 | 1551 (2) |
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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 .
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 maps:
http://teuton.com/0823DrillResults
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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