(TheNewswire)
September 28, 2021 - TheNewswire - Vancouver, Canada – Teuton Resources Corp. (“Teuton”or “the Company”) ( TSXV: TUO) (OTC:TEUTF) ( Frankfurt: TFE) has received a report from its joint venturepartner Tudor Gold presenting the third set of results from the 2021resource expansion and definition drilling program at the GoldstormDeposit, Treaty Creek property. The project is located in the heart ofthe Golden Triangle of northwestern British Columbia and is on-trendfrom Seabridge’s KSM Project located five kilometers southwest ofthe Goldstorm Deposit. Exploration at Treaty Creek is ongoing at theGoldstorm and Eureka zones with six diamond drills now fully crewed.
Treaty Creek, Drilling Highlights include:
-
- Extended the DS-5 Domain 100 meters north ofGS-21-112 (core zone of 2.08 g/t AuEq over 79.5 m within 219.0 mcontaining 1.29 g/t AuEq) with step-out hole GS-21-119 with a strong,consistent mineralized core zone intercept of 196.5 m containing 1.76g/t AuEq within a broader zone of 564.0 m containing 1.09 g/tAuEq.
- Confirmed consistent mineralization in GS-21-116 overa long interval of 1092.0 m grading 0.75 g/t AuEq that includes the300H and CS-600 domains.
- Near-surface mineralization encountered at EurekaZone in EK-21-01 with 67.5 m of 1.13 g/t AuEq within 217.5 m averaging0.76 g/t AuEq.
- Eureka Zone remains open in all directions and atdepth.
- Goldstorm Deposit remains open in all directions andat depth as drilling continues.
The complete list of composited drill hole results aswell as the drill hole data including hole location, elevation, depth,dip and azimuth are provided in Table 1 and Table 2, respectively.Please click on the URL provided at the end of the release for a planmap and cross sections of the drill holes.
Tudor Gold’s Vice President of Exploration andProject Development, Ken Konkin, P.Geo., states :“We are extremely pleased with our continued success with ourstep-out drilling at the Goldstorm Deposit. Due to the success of holeGS-21-119 we plan to step-out further to the northeast before the endof this year’s drilling. This program demonstrates the emergence ofhigher-grade pulses of gold mineralization within the 300 Horizon anda distinct central enriched gold zone within the DS-5 domain. Similarenriched zones of copper mineralization within the CS-600 domain arealso apparent. These are “zones within zones” that give ourdomains a new common dynamic characteristic. Continued drilling isrequired to better define and potentially expand these enriched pulseswithin our broad mineralized domains.”
Moreover, Ken Konkin also commented on the drill holeEK-21-01 at the Eureka target:
“In addition, we confirmed that a significant goldsystem exists at the Eureka Zone with mineralization occurring nearsurface, which terminates in a regional thrust fault at depth. Aninteresting aspect of the Eureka system is that the goldmineralization ends in what may be the same thrust fault thattruncates the DS-5 system at Goldstorm. The attached drill sectionshows the spatial relationship between the Goldstorm Deposit and theEureka Zone (Regional Section - Goldstorm to Eureka). The currentgeological interpretation is that the DS-5 domain may connect to theEureka Zone which adds another dimension to the potential size of theGoldstorm Deposit. Eureka drill hole EK-21-01 contains an enrichedcentral zone averaging 1.13 g/t AuEq over 67.5 meters that lies within217.5 meters grading 0.76 g/t AuEq. Similarly, in drill holeGS-21-119, the DS-5 contains an enriched central core of goldmineralization that yields an impressive 1.76g/t AuEq over 196.5 meters within the overall intercept of 1.09 g/tAuEq over 564.0 meters. Due to the success of the step-out explorationdrilling at the Goldstorm Deposit, the Eureka drill was dispatched tocontinue the step-out drilling to the northeast at Goldstorm.
Our primary goal remains to find the limits to theGoldstorm Deposit and to constrain the resources from our InitialMineral Resource Estimate of 19.41 million ounces of Measured andIndicated and 7.9 million ounces of Inferred gold-equivalent ounces.We continue to intercept exceptional mineralization within the defineddomains and consistently identify extensions to these domainsparticularly to the northeast and northwest, as well as at depth.Clearly, more drilling is required to further define the Goldstorm,Eureka and Perfect Storm Zones for 2022.”
Walter Storm, President and CEO , stated : “We are veryexcited to see the continuing expansion of the Goldstorm Deposit tothe northeast with the release of these exceptional drill results. Thegeological potential of the Treaty Creek Project is growing with eachnew drill hole. All drill holes that have reached their targeteddepths have encountered significant precious metal mineralization. Onevery important aspect about the furthest step-out drill holeGS-21-119, is that this vertical hole ended in gold mineralization at1290 meters. This hole had to be abandoned as the ice pad became toohazardous to continue drilling and worker safety is always our numberone priority. The Goldstorm Deposit remains open in all directions andat depth. In addition to this, our exploration team continues toencounter significant gold mineralization in other zones, such as theEureka Zone. With the news of yet another positive result fromTudor’s first hole at the Eureka Zone (EK-21-01), the geologicalpotential of this zone has been up-graded to a priority near surfacegold target. This drill hole was started with the largest diametercore possible (PQ), then sized-down to HQ diameter core as the holeprogressed. Our drill crews were able to get excellent core recoveriesin very fractured ground. We congratulate our drillers for asuccessful campaign during these difficult times and look forward toreleasing additional positive news in the coming weeks as drillingcontinues to progress extremely well.”
About the Eureka drill target:
The Eureka zone is located approximately 1,000 meterssoutheast of the Goldstorm Deposit along the western edge of anextensive, bright yellow-orange gossan zone covering over one squarekilometer of clay, sericite, quartz and pyrite alteration. Alterationoverprints several different rock units, including volcanic flows andbreccias, plagioclase-porphyry intrusions, and minor sedimentaryrocks. Alteration mineralogy suggests a shallow magmatic hydrothermalor epithermal environment of formation, with the potential to hostgold-silver bearing veins and pervasive lower-grade disseminatedgold-silver mineralization.
At the Eureka showing, outcrops are cut by veinsinfilled with fine to coarse-grained quartz, calcite, and pyrite.Veins have steep dips with variable orientations and form weaklysheeted to stockwork zones. In the Eureka zone and surrounding areaabout 20 holes have been drilled on various targets by previousoperators with poor core recoveries. Several long intervals of weaklyelevated gold grades were returned, such as 0.46 g/t Au over 169.2 m(DH 97-1) and 0.69 g/t Au, 2.9 g/t Ag over 75.5 m (TC07-02).Additional drilling is required to better definethe mineralized areas .
Table l: Results Goldstorm Zone and Eureka Zone PressRelease September 28, 2021
Section | Hole | Zone | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu ppm | AuEQ (g/t) |
111+00 NE | EK-21-01 | Eureka | 12.50 | 230.00 | 217.50 | 0.68 | 3.85 | 279 | 0.76 |
89.00 | 228.50 | 139.50 | 0.82 | 3.80 | 390 | 0.91 | |||
95.00 | 162.50 | 67.50 | 1.01 | 5.60 | 467 | 1.13 | |||
114+50 NE | GS-21-114* | 300H | 203.00 | 214.00 | 11.00 | 1.51 | 1.33 | 99 | 1.53 |
114+50 NE | GS-21-116 | 300H+CS600 | 296.00 | 1388.00 | 1092.00 | 0.52 | 2.84 | 1653 | 0.75 |
including 300H | 318.50 | 534.50 | 216.00 | 0.72 | 3.97 | 352 | 0.81 | ||
with | 477.50 | 534.50 | 57.00 | 1.18 | 6.79 | 501 | 1.32 | ||
and | 636.50 | 707.00 | 70.50 | 0.91 | 3.58 | 303 | 0.99 | ||
CS6000 | 1040.00 | 1388.00 | 348.00 | 0.62 | 3.42 | 4379 | 1.18 | ||
including | 1080.50 | 1341.50 | 261.00 | 0.70 | 2.99 | 5521 | 1.39 | ||
116+50 NE | GS-21-119 | DS5 | 726.00 | 1290.00 | 564.00 | 0.96 | 8.45 | 244 | 1.09 |
including | 861.00 | 1057.50 | 196.50 | 1.62 | 10.31 | 153 | 1.76 | ||
* Hole shut down due to extremedeviation and redrilled as GS-21-116
|
Table 2: Drill data for holes in Press ReleaseSeptember 28, 2021
Section | Hole ID | UTM E NAD 83 | UTM N NAD 83 | Elevation (m) | Azi (?) | Dip (?) | Depth (m) |
111+00 NE | EK-21-01 | 429775.9 | 6272171.8 | 1380.5 | 312 | -50 | 299 |
114+50 NE | GS-21-114 | 428656.9 | 6273199.7 | 1370.9 | 292 | -65 | 215.8 |
114+50 NE | GS-21-116 | 428656.9 | 6273199.7 | 1370.9 | 295 | -64 | 1529 |
116+50 NE | GS-21-119 | 429068.6 | 6273270.3 | 1222.1 | 295 | -85 | 1290 |
Qualified Person
The Qualified Person for this news release for thepurposes of National Instrument 43-101 is Tudor Gold’s VicePresident of Exploration and Project Development, Ken Konkin, P.Geo. Mr. Konkin is also a director of Teuton. He has read and approvedthe scientific and technical information that forms the basis for thedisclosure contained in this news release.
QA/QC
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 theInternational Standards ISO 17025 and ISO 9001. MSA Labs isindependent 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. Teuton earned $3.9million net income in 2020 and a further $2.4 million in the firstquarter of 2021. Its income is derived from option payments.
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 a production decision ismade). Interested parties can access information about Teuton at theCompany’s website, www.teuton.com .
Figures & Videos Accompanying News Release
Please click link to view Plan Map and Cross-Sections: http://teuton.com/GSCBSept2021
On Behal f of the Board ofDirectors of Teuton Resources:
"Dino Cremonese, P.Eng."
Dino Cremonese, P. Eng.,
President and Chief Executive Officer
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 TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
Cautionary Statements regarding Forward-Lookinginformation
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 include risks relating to the actual results ofcurrent exploration activities, fluctuating gold prices, possibilityof equipment 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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