(TheNewswire)
Vancouver, Canada –– TheNewswire – November 22, 2023 - Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V)("TFE"- Frankfurt) has received assays from its Joint Venture partner, Tudor Gold Corp.(“Tudor Gold”), in respect of the fifth set of drill results from the 2023 work programat the Treaty Creek property. Treaty Creek is located in the heartof the Golden Triangle of northwestern British Columbia, adjoining andon geological trend with S eabridge Gold’s KSMproperty and Newmont Mining’s Brucejack property.
Tudor Gold has safely and successfully completed the2023 drilling program with a total of 31,904 meters (m) drilled withinareas encompassing the Goldstorm Deposit and the Perfectstorm Zone.The assay results reported in this release are from two drill holesthat targeted the northeastern area of the Goldstorm Deposit and twoholes that targeted the northeastern area of the Perfectstorm Zone.[Click to view plan map and sections: http://teuton.com/TreatyFigures1123 ]
Ken Konkin, President and CEO ofTudor Gold , commented: “We are extremelypleased to announce the continued expansion of our Goldstorm Depositto the northeast. GS-23-179, a 200-meter step-out hole, has greatlyenlarged the mineralized envelope. As predicted, the CS-600 systemremains very robust with surprisingly high gold values in the upperportion of the domain. Although the gold-copper-silver mineralizationremains consistent over very wide intercepts that yield compellingcomposites such as 525 m of 1.01 g/t AuEQ in hole GS-23-179, highergrade mineralization is well concentrated within core sections. Theupper portion of this 525 m interval contains an enriched section thatis believed to be part of a consistent quartz stockwork system thatcan be traced for hundreds of meters between drill holes. This systemhas yielded an intercept of 10.07 g/t AuEq over 12.0 m within theuppermost portion of the 223.5m of 1.42 g/t AuEq interval, which is part of amuch longer 525 m intercept that averaged 1.01 g/t AuEQ. Notably, this12-meter-long, high-grade gold intercept within GS-23-179 is locatedover 300 m northeast from a similar gold-bearing stockwork interceptencountered in GS-23-134, which reported 9.96 g/t AuEq over 25.5 m , including an enriched portion of 20.86 g/t AuEq over 4.5 m (see Press Release July 19, 2022). Further drilling isrequired to confirm the orientation and extent of this newlydiscovered stockwork zone. Our technical team believes this auriferousstockwork veinlet system is a late-stage event that overprints theCS-600 Domain. In addition, drill hole GS-23-175 intersected the DS5Domain on the same northeastern-most section of the Goldstorm Deposit(see Section A). In this hole the upper enriched gold zone of the DS5domain contained 160.5 m of1.24 g/t AuEq within 241.5 m of 1.11 g/t AuEq. The lower DS5 domain contained81.0 m of 1.17 g/t AuEq within 162.0 m of 1.01 g/t AuEq. Unfortunately, this hole could not be completed due to poorground conditions and was terminated in strong gold mineralization.The Goldstorm Deposit remains open in all directions an atdepth.
To top it all off, we had success at the PerfectstormZone as well. Two drill holes intersected the northeastern-most knownlimit of the Perfectstorm system. The stronger results from the deeperdrill hole PS-23-14 on this section suggest that gold-copper-silvermineralization is gaining strength in the northwest direction. Thishole intersected a porphyritic intrusive with 0.91 g/t AuEq over 40.5 m within 139.5 m of 0.51 g/t AuEQ. The Perfectstorm system hasnow been drill-traced for over 1,700 m by wide-spaced holes along thenortheastern axis. The best results to-date came from the opposite endof the system in the southwestern drill hole PS-23-10, which contained 1.28 g/t AuEqover 102.15 m (see Press Release October 31,2023). Clearly, further drilling is required in the southwesternsector of the Perfectstorm target, and beyond.”
Section A
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GS-23-175 :Drilled as a 200 m step-out to the northeast of the DS5 domain, thishole returning two wide intervals, including 241.5 m grading 1.11 g/t AuEq (1.07 g/t Au,3.16 g/t Ag, 0.01 % Cu) and 162.0 m grading 1.01 g/t AuEq (0.96 g/t Au,3.92 g/t Ag, 0.01 % Cu)
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GS-23-179 :Drilled as a 200 m step-out to the northeast of the CS-600 Domain. This hole returned an impressive intercept of 525.0 m of 1.01 g/t AuEq (0.85 g/t Au, 1.94g/t Ag, 0.13 % Cu) which included a higher-gradeinterval of 223.5 m of 1.42g/t AuEq (1.16 g/t Au, 2.25 g/t Ag, 0.19 % Cu) that includes 43.5 m of 3.73g/t AuEq (3.52 g/t Au, 2.18 g/t Ag, 0.16 % Cu) and 12.0 m of 10.07g/t AuEq (9.78 g/t Au, 1.35 g/t Ag, 0.23 % Cu).
Section B
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PS-23-13 :Drilled as a 200 m step-out from the previous northeastern-most holeat PSZ. This hole intersected three separate mineralized vein zones,one of which returned 41.50 mgrading 0.50 g/t AuEq (0.41 g/t Au, 4.87 g/t Ag and 0.04 %Cu) that included 17.5 m of 0.72 G/t AuEq (0.59 g/t Au, 4.64g/t Ag and 0.07 % Cu)
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PS-23-14 Drilledon the same section below hole PS-23-13, hole PS-23-14 encounteredfour separate intervals of appreciable mineralization,including 40.50 m grading 0.91g/t AuEq (0.82 g/t Au, 2.60 g/t Ag and 0.06 % Cu) with a higher-grade interval of 1.50 m grading 9.26 g/t AuEq (9.17 g/t Au,5.35 g/t Ag and 0.03 % Cu).
Table 1: Drilling Results forGoldstorm Deposit and Prefectstorm Zone in Press Release November 21,2023
Section | Hole | Zone | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu (%) | AuEq (g/t) |
A | GS-23-175 | DS5 | 763.00 | 1004.50 | 241.50 | 1.07 | 3.16 | 0.01 | 1.11 |
including | 767.50 | 928.00 | 160.50 | 1.19 | 3.58 | 0.01 | 1.24 | ||
and | 1142.50 | 1304.50 | 162.00 | 0.96 | 3.92 | 0.01 | 1.01 | ||
including | 1142.50 | 1223.50 | 81.00 | 1.10 | 6.26 | 0.01 | 1.17 | ||
A | GS-23-179 | CS600+DS5 | 1041.00 | 1566.00 | 525.00 | 0.85 | 1.94 | 0.13 | 1.01 |
CS600 | 1119.00 | 1342.50 | 223.50 | 1.16 | 2.25 | 0.19 | 1.42 | ||
including | 1119.00 | 1162.50 | 43.50 | 3.52 | 2.18 | 0.16 | 3.73 | ||
and | 1129.50 | 1141.50 | 12.00 | 9.78 | 1.35 | 0.23 | 10.07 | ||
CS600+DS5 | 1404.00 | 1489.50 | 85.50 | 0.97 | 2.72 | 0.05 | 1.06 | ||
B | PS-23-13 | NE | 8.00 | 11.00 | 3.00 | 0.99 | 0.86 | 0 | 1.00 |
172.00 | 179.50 | 7.50 | 0.56 | 2.58 | 0.03 | 0.62 | |||
223.50 | 265.00 | 41.50 | 0.41 | 4.87 | 0.04 | 0.50 | |||
223.50 | 241.00 | 17.50 | 0.59 | 4.64 | 0.07 | 0.72 | |||
B | PS-23-14 | NE | 5.00 | 39.50 | 34.50 | 0.69 | 1.03 | 0.01 | 0.72 |
125.00 | 126.50 | 1.50 | 4.99 | 7.29 | 0.03 | 5.10 | |||
248.00 | 387.50 | 139.50 | 0.43 | 4.95 | 0.03 | 0.51 | |||
248.00 | 288.50 | 40.50 | 0.82 | 2.60 | 0.06 | 0.91 | |||
287.00 | 288.50 | 1.50 | 9.17 | 5.35 | 0.03 | 9.26 | |||
380.00 | 387.50 | 7.50 | 0.97 | 54.00 | 0.15 | 1.68 | |||
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Table 2: Drill data for holes inPress Release November 21, 2023
Section | Hole ID | UTM E NAD 83 | UTM N NAD 83 | Elevation (m) | Azi (?) | Dip (?) | Depth (m) |
A | GS-23-175 | 429357 | 6273557 | 1225 | 275 | -75 | 1309 |
A | GS-23-179 | 429030 | 6273666 | 1495 | 333 | -68 | 1617 |
B | PS-23-13 | 427466 | 6271186 | 1487 | 295 | -88 | 371 |
B | PS-23-14 | 427466 | 6271186 | 1487 | 295 | -60 | 506 |
Qualified Person
The Qualified Person for this news release for thepurposes of National Instrument 43-101 is Tudor Gold’s President andCEO, Ken Konkin, P.Geo. He has read and approved the scientific andtechnical information that forms the basis for the disclosurecontained in this news release. D. Cremonese, P. Eng., is theQualified Person for Teuton Resources Corp. (as President of the Company he is not independent of the Company). Mr. Cremonese has not personally verified the technical data in thenews release but has no reason to doubt its accuracy.
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 TreatyCreek
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 inthe Treaty Creek Project (Tudor Gold is responsible for paying allexploration costs up until such time as a production decision is madeand owns a 60% interest; American Creek Resources owns the remaining20% interest, also carried). Additionally, Teuton owns a 0.98% NetSmelter Royalty in the Goldstorm deposit area as well as in thenorthern portion of the Perfectstorm zone; within the southern portionof the Perfectstorm zone, Teuton owns a 0.49% NSR with an option toincrease that to 1.49% by paying $1 million to the current owner. Italso owns numerous additional royalty interests within the SulphuretsHydrothermal system on formerly 100%-owned properties such as the KingTut, Tuck, High North, Orion, Delta and Fairweather properties (KingTut and Tuck now owned by Newmont Mining; High North, Orion, Delta andFairweather properties now owned by Goldstorm Metals).
The Treaty Creek Project contains the Goldstorm Deposit(a large gold-copper porphyry system) as well as several othermineralized zones. As disclosed in the March 2023 News Release, theGoldstorm Deposit has an Indicated Mineral Resource (as defined in NI43-101) of 23.37 Moz of AuEq grading 1.13 g/t AuEq (18.75 Moz goldgrading 0.91 g/t, 2.18 Blbs copper grading 0.15 %, 112.4 Moz silvergrading 5.45 g/t) and an Inferred Mineral Resource (as defined in NI43-101) of 7.35 Moz of AuEq grading 0.98 g/t AuEq (5.54 Moz goldgrading 0.74 g/t, 0.85 Blb copper grading 0.16 %, 45.08 Moz silvergrading 5.99 g/t), with a pit constrained cut-off of 0.5 g/t AuEq andan underground cut-off of 0.7 g/t AuEq. The Goldstorm Deposit has beencategorized into three dominant mineral domains and several smallermineral domains. The CS-600 domain largely consists of an intermediateintrusive stock and hosts the majority of the copper mineralizationwithin the Goldstorm Deposit. CS-600 has an Indicated Mineral Resourceof 9.86 Moz AuEq grading 1.10 g/t AuEq (6.22 Moz gold grading 0.70g/t, 1.98 Blbs copper grading 0.32 %, 51.1 Moz silver grading 5.71g/t) and an Inferred Mineral Resource of 3.71 Moz AuEq grading 1.19g/t AuEq (2.32 Moz gold grading 0.75 g/t, 0.76 Blb copper grading 0.36%, 18.71 Moz silver grading 6.01 g/t). The Goldstorm Deposit remainsopen in all directions and requires further exploration drilling todetermine the size and extent of the deposit.
1 AuEq = Aug/t + (Ag g/t*0.0098765) + (Cu ppm*0.0001185)
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 providedTeuton with substantial income.
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: bholmesmba@gmail.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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