(TheNewswire)
Vancouver, Canada –– TheNewswire – January 17, 2024 - Teuton Resources Corp. (“Teuton” or “the Company”) (TSXV: TUO ) (Frankfurt: TFE ) has receivedthe seventh and final setof assays from its JointVenture partner, Tudor Gold Corp. (“Tudor Gold”) in respectof 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 (the Deposit) and thePerfectstorm Zone. The assay results reported in this release are fromtwo drill holes that targeted the northeastern area of the Deposit.Click to view plan map and crosssections .
Ken Konkin, President and CEO ofTudor Gold commented: “We are very pleased torelease the results from the last two drill holes of the 2024 drillprogram. We completed 33 holes this year of which eight were completedat the Perfectstorm system and 25 drill holes at the GoldstormDeposit. The objective of the Goldstorm drilling was to convert asmuch of the Inferred Mineral Resources to the Indicated MineralResource category as well as expand the Deposit into the north wherewe have encountered the strongest Au-Cu-Ag mineralization to-date. Icongratulate our field crews and service contractors for completingyet another safe and successful season. Clearly the highlight of theselast two holes is the impressive continuation of encountering higherAu-Cu-Ag grades than contained within our latest NI 43-101 MineralResource Estimate for the Goldstorm Deposit which hosts an Indicated Mineral Resource of23.37 million ounces of AuEQ grading 1.13 g/t AuEQ and an InferredMineral Resource of 7.35 million ounces of AuEQ grading 0.98 g/tAuEQ .
An enriched core of mineralization occurs within the300H and CS-600 domains. Drill hole GS-23-178-W1 demonstrates thiswell; the gold-dominant 300H domain cut an impressive intercept of 138 m grading 1.67 g/tAuEQ which contains a center core ofmineralization that averages much higher; 3.08 g/t AuEQ over 57 m. Down hole within the CS-600 domain, we intersected a muchmore impressive 258 maveraging 2.00 g/t AuEQ with an enriched centerportion averaging 3.19 g/tAuEQ over 66 m. It’s important to note that weare still encountering incredibly long drill hole intercepts such as 570 m that averaged 1.21g/t AuEQ within the CS-600 domain in hole GS-23-178-W1. However, we are focussed on developing areas with thehighest gold and copper grades of the Deposit and expanding the Au-CuCS-600 domain as a priority. We are confident that the copper contentwill be an important factor as we advance this project. Within the DS5domain, our last hole GS-23-180 was unfortunately lost due to groundconditions and was abandoned in strong mineralization at depth. The final 4.75 m averaged 2.31 g/t AuEQ. A significant intercept was encountered higherin the upper part of the domain averaging 1.01 g/t AuEQ over 201 m and similarly had an enriched centralportion that averaged much higher: 1.82 g/t AuEQ over 81.5 m. Hole GS-23-178-W1 increases the drilling densityin a significant area of the CS-600 domain that is characterized asInferred Mineral Resources and will support potentially convertingthat to Indicated Mineral Resources whereas GS-23-180 was a step-outexploration drill hole, outside the current resource model to thenortheast and will add overall ounces to the next mineral resourceestimate.
Our technical team and consultants are currentlyupdating the geological and resource model. Once our finalinterpretation is complete, we will plan the 2024 drill hole program.The goal is to close-off and completely constrain the entire GoldstormDeposit so we can determine the location, shape, size and grade of all mineralized domains. When the Depositis completely drilled-off and we have competed the final resourceestimate, we plan to proceed with a Preliminary Economic Study (PEA). The Goldstorm Depositremains open in all directions and at depth.”
Section A
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GS-23-178-W1 :This hole was drilled to target the CS-600 domain where the currentMineral Resource Estimate is categorized as inferred mineralresources. The hole first intersected the 300H domain with 138.0 m grading 1.67 g/tAuEQ (1.60 g/t Au, 5.81 g/t Ag, 0.01 % Cu) andthen successfully intersected the CS-600 domain with an overallinterval of 570.0 m grading1.21 g/t AuEQ (0.75 g/t Au, 8.09 g/t Ag, 0.31 % Cu) including 258.0 mgrading 2.00 g/t AuEQ (1.30 g/t Au, 14.28 g/t Ag, 0.47 % Cu) and 66.0m grading 3.19 g/t AuEQ (1.99 g/t Au, 24.46 g/t Ag, 0.80 %Cu).
Section B
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GS-23-180 : Thishole was drilled as a 175 m northern step-out on the DS5 domain. Thehole successfully intercepted characteristic Au-Ag mineralization with a 201.0 m intercept of DS5grading 1.01 g/t AuEQ (0.92 g/t Au, 4.93 g/t Ag, 0.04 % Cu) includingan 81.5 m intercept grading 1.82 g/t AuEQ (1.64 g/t Au, 9.36 g/t Ag,0.07 % Cu). This hole was lost within wellmineralized fractured ground over the final 4.75 m that averaged 2.31 g/tAuEQ (2.17 g/t Au, 11.85 g/t Ag, 0.02 % Cu).
Table 1: Drilling Results forGoldstorm Deposit in Press Release January 17, 2024
Section | Hole | Zone | From | To | Interval | Au | Ag | Cu | AuEQ |
A | GS-23-178-W1 | 300H | 328.50 | 466.50 | 138.00 | 1.60 | 5.81 | 0.01 | 1.67 |
including | 385.50 | 442.50 | 57.00 | 2.98 | 8.72 | 0.01 | 3.08 | ||
including | 409.50 | 421.50 | 12.00 | 5.90 | 12.32 | 0.01 | 6.04 | ||
including | 409.50 | 412.50 | 3.00 | 11.66 | 2.15 | 0 | 11.68 | ||
CS-600 | 1002.00 | 1572.00 | 570.00 | 0.75 | 8.09 | 0.31 | 1.21 | ||
including | 1263.00 | 1521.00 | 258.00 | 1.30 | 14.28 | 0.47 | 2.00 | ||
including | 1294.50 | 1360.50 | 66.00 | 1.99 | 24.46 | 0.80 | 3.19 | ||
including | 1294.50 | 1318.50 | 24.00 | 3.01 | 44.37 | 1.07 | 4.71 | ||
B | GS-23-180 | DS5 | 836.00 | 1037.00 | 201.00 | 0.92 | 4.93 | 0.04 | 1.01 |
including | 870.50 | 952.00 | 81.50 | 1.64 | 9.36 | 0.07 | 1.82 | ||
including | 870.50 | 893.00 | 22.50 | 3.30 | 28.63 | 0.22 | 3.84 | ||
DS5 | 1080.50 | 1181.00 | 100.50 | 0.68 | 2.03 | 0.01 | 0.71 | ||
DS5 | 1410.45 | 1464.75 | 54.30 | 0.56 | 6.54 | 0.02 | 0.65 | ||
including | 1460.00 | 1464.75 | 4.75 | 2.17 | 11.85 | 0.02 | 2.31 | ||
True widths have not been determined as the mineralizedbody remains open in all directions. Further drilling is required todetermine the mineralized body orientation and true widths. |
Table 2: Drill data for holes inPress Release January 17, 2024
Section | Hole ID | UTM E NAD 83 | UTM N NAD 83 | Elevation (m) | Azi (?) | Dip (?) | Depth (m) |
A | GS-23-178-W1 | 428867 | 6273470 | 1279 | 297 | -61 | 1554 |
B | GS-23-180 | 429357 | 6273557 | 1225 | 270 | -70 | 1466 |
Qualified Person
Mr. Ken Konkin, P. Geo., is the QP for Tudor Gold Corp.and has approved the technical information disclosed in a January 16,2024 news release by Tudor Gold, which includes the same technicalinformation contained within this release. D. Cremonese, P. Eng., isthe Qualified Person for Teuton Resources Corp. (as President of theCompany he is not independent of the Company). Mr. Cremonese has notpersonally verified the technical data taken verbatim from the TudorGold news 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 system complies with the requirements for theInternational Standards ISO 17025 and ISO 9001. MSA Labs isindependent of Tudor Gold and 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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