(TheNewswire)
Orion Property – Discovery of the“Copernicus” Z one Copper-rich VMS (Besshi-type) M ineralization
Vancouver, Canada – TheNewswire – November 28, 2023 –– Teuton Resources Corp. (“Teuton” or “the Company”) (TSXV:TUO) (Frankfurt:TFE) has received assays fromits Joint Venture partner, Tudor Gold Corp. (“Tudor Gold”), inrespect of the sixth setof drill results from the 2023 work program at the Treaty Creekproperty. Treaty Creek is located in the heart of the GoldenTriangle of northwestern British Columbia, adjoining and on geologicaltrend with S eabridge Gold’s KSM property andNewmont 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 thisrelease are from threedrill holes that targeted the northeastern area of the Deposithowever, only two were successfully completed: GS-23-176-W1 andGS-23-177. Drill hole GS-23-176 was terminated due to unfavorabledeviation and was re-drilled as wedge hole GS-23-176-W1 which didreach the intended target area. The Goldstorm Deposit remains open inall directions and at depth. Click to view planmap and cross sections .
Ken Konkin, President and CEO ofTudor Gold , commented : “We are very pleased to announcethe continuing expansion and definition of the Goldstorm domains inthe northeastern sector of the Deposit. Three of the largestmineralized domains, including 300H, CS-600 and DS5, reportedexcellent results from these latest drill holes. The highlight of the2023 program is the remarkable continuation of higher grades of gold,copper and silver throughout the northern aspect of the GoldstormDeposit. One of the best-looking mineralized areas of the Deposit todate is the lower CS-600domain within GS-23-176-W1,which returned 273.75 m of2.19 g/t AuEq (1.98 g/t Au, 3.30 g/t Ag, 0.15 % Cu) that includes anenriched central core that averaged 3.51 g/t AuEq (3.23 g/t Au, 5.57g/t Ag, 0.19 % Cu) over 123.0 m. An interval ofhigher-than-average gold values was intersected near the end ofGS-23-176-W1 that was associated with narrow quartz veinlets withminor disseminated pyrite; this is interpreted to be part of the DS5domain, which may extend to greater depths than previously thought. Ifpossible, we may extend this hole during the 2024 drill program todetermine if there is a continuation to the lower 27 meters ofmineralization that averaged 2.41 g/t AuEQ near the bottom of thishole.
“The most significant aspect of GS-23-176-W1 may bethe 15.0 m of 15.64 g/t AuEq(14.89 g/t Au, 4.72 g/t Ag, 0.60 % Cu) thatoccurs at the core of the richest portion of the CS-600domain . This enriched quartz stockwork in the lower part of CS-600 isa comparable-looking zone to the high-grade gold interval encounteredwithin the CS-600 in GS-22-134, located 135 m to the west . GS-22-134 intersected 25.5 m of 9.96 g/tAuEq (see Press Release dated July 19, 2023).This may be related to a later mineralizing event that over-prints theCS-600 copper-gold porphyry mineralization with a discrete high-gradegold-dominant quartz stockwork system. Our technical team is examiningthe hypothesis that we may have an independent high-grade system thatcuts both 300H and CS-600 domains. Including the high-grade interval,the overall larger composite of the CS-600 domain totaling 601.5 m of1.40 g/t AuEq is comparable to that of GS-21-113-W2 which had acomposite of 732.m of 1.60 g/t AuEq (see pressrelease dated August 11, 2022). These two intercepts could nowsignificantly contribute to the Indicated Mineral Resource for thenext Mineral Resource update, which will benefit from the increaseddrilling density provided by this program.
“Equally impressive were the results from GS-23-177where an enriched core of the 300H domain yielded 82.5 m of 1.92 g/t AuEq within 311.5 m of1.04 g/t AuEq in the upper portion of that hole. Additionally, the composite for the CS-600domain comprised yet another long intercept of 517.5 m that averaged 1.01 g/tAuEq , which included an enriched core thataveraged 1.53 g/t AuEq (0.92g/t Au, 5.80 g/t Ag, 0.46 % Cu) over 124.5 m. Near the lower contact of the CS-600 domain, another enriched zone wasintersected that yielded 19.50m of 5.70 g/t AuEq (5.41 g/t Au, 1.09 g/t Ag, 0.24% Cu). The results from these two sections will add to the overallquantity of gold, silver and copper in the Indicated and Inferredcategories of the next mineral resource update.”
Section A
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GS-23-176 : Wasdrilled to target deep CS-600 domain mineralization, outside thecurrent Mineral Resource area. The hole intersected 114.10 m grading 1.01 g/t AuEq (0.80 g/t Au, 8.10 g/t Ag, 0.10 %Cu) including 61.60 m grading 1.32 g/t AuEq (1.01 g/t Au,12.36 g/t Ag, 0.16 % Cu) . The hole was stoppeddue to unfavorable deflection, and drilling was continued with adaughter wedge hole, GS-23-176-W1.
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GS-23-176-W1 :This hole successfully intersected the CS-600 domain with 601.5 m of 1.40 g/t AuEq (1.23 g/t Au, 2.93g/t Ag, 0.12 % Cu) which included a higher-gradeinterval of 273.75 m of 2.19 g/t AuEq (1.98 g/t Au,3.30 g/t Ag, 0.15 % Cu) that also included 123.0 m of 3.51 g/t AuEq (3.23 g/t Au, 5.57 g/t Ag, 0.19 %Cu ) and 15.0 m of 15.64g/t AuEq (14.89 g/t Au, 4.72 g/t Ag, 0.60 % Cu ). Below the CS-600domain, an interval of 27.0 m grading 2.41 g/t AuEq (2.36 g/t Au,3.91 g/t Ag, 0.01 % Cu) was intersected and isinterpreted to be associated with the DS5 domain.
Section B
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GS-23-177 : Thishole was drilled to increase the drilling density in the CS-600 domainwhere the current Mineral Resource Estimate is categorized as Inferredmineral resources. The hole intersected mineralization associated withthe 300H domain that consisted of 311.5 m grading 1.04 g/t AuEq (0.99 g/t Au,4.06 g/t Ag and 0.01 % Cu) and included 82.5 m of 1.92 g/t AuEq (1.84g/t Au, 6.72 g/t Ag and 0.01 % Cu).
The CS-600 domain was intersected with 100.50 m grading 0.71 g/t AuEq (0.54 g/tAu, 1.42 g/t Ag, 0.13 % Cu) , followed by 517.5 m grading 1.01 g/t AuEq(0.71 g/t Au, 2.35 g/t Ag, 0.23 % Cu), includingan enriched core of 124.5 mgrading 1.53 g/t AuEq (0.92g/t Au, 5.80 g/t Ag, 0.46 % Cu) , and includingan enriched lower zone of 19.5m grading 5.70 g/t AuEq (5.41 g/t Au, 1.09 g/t Ag, 0.24% Cu).
Table 1: Drilling Results forGoldstorm Deposit in Press Release November 28, 2023
Section | Hole | Zone | From | To | Interval | Au | Ag | Cu | AuEq |
A | GS-23-176 1 | CS 600 | 970.50 | 1084.60 | 114.10 | 0.80 | 8.10 | 0.10 | 1.01 |
including | 1023.00 | 1084.60 | 61.60 | 1.01 | 12.36 | 0.16 | 1.32 | ||
GS-23-176-W1 | CS 600 | 67.50 | 669.00 | 601.50 | 1.23 | 2.93 | 0.12 | 1.40 | |
including | 390.75 | 664.50 | 273.75 | 1.98 | 3.30 | 0.15 | 2.19 | ||
including | 441.00 | 564.00 | 123.00 | 3.23 | 5.57 | 0.19 | 3.51 | ||
including | 451.50 | 466.50 | 15.00 | 14.89 | 4.72 | 0.60 | 15.64 | ||
and inc. | 522.00 | 564.00 | 42.00 | 2.49 | 10.02 | 0.12 | 2.74 | ||
DS5 | 814.50 | 841.50 | 27.00 | 2.36 | 3.91 | 0.01 | 2.41 | ||
B | GS-23-177 | 300H | 383.00 | 694.50 | 311.50 | 0.99 | 4.06 | 0.01 | 1.04 |
including | 553.50 | 636.00 | 82.50 | 1.84 | 6.72 | 0.01 | 1.92 | ||
including | 588.50 | 636.00 | 48.00 | 2.35 | 9.30 | 0.01 | 2.44 | ||
CS 600 | 1033.50 | 1134.00 | 100.50 | 0.54 | 1.42 | 0.13 | 0.71 | ||
CS 600 | 1186.50 | 1209.00 | 22.50 | 0.26 | 2.60 | 0.70 | 1.12 | ||
CS 600 | 1242.00 | 1759.50 | 517.50 | 0.71 | 2.35 | 0.23 | 1.01 | ||
including | 1395.00 | 1519.50 | 124.50 | 0.92 | 5.80 | 0.46 | 1.53 | ||
including | 1414.50 | 1441.50 | 27.00 | 1.04 | 4.91 | 1.07 | 2.35 | ||
and inc. | 1717.50 | 1737.00 | 19.50 | 5.41 | 1.09 | 0.24 | 5.70 | ||
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Table 2: Drill data for holes inPress Release November 28, 2023
Section | Hole ID | UTM E NAD 83 | UTM N NAD 83 | Elevation (m) | Azi (?) | Dip (?) | Depth (m) |
A | GS-23-176 | 429026 | 6273660 | 1495 | 318 | -68 | 1084.6 |
GS-23-176-W1 | 428833 | 6273915 | 651 | 333 | -68 | 864.0 | |
B | GS-23-177 | 428933 | 6273444 | 1398 | 307 | -60 | 1980.0 |
Orion Property—Discovery ofCopernicus Zone
Teuton Resources optioned its Orion property to TudorGold in 2016. The option was completed four years later and TudorGold earned a 100% interest in the property, subject to a retained2.5% NSR in favour of Teuton. Tudor Gold subsequently spun-out theOrion and other properties to Goldstorm Metals which was listed on theTSX-V in late 2022.
Goldstorm Metal’s news release of Nov. 27, 2023,reporting on work carried out during the field season, stated:“ Within the Orion area, exploration effortsspecifically targeted a new zone, known as the Copernicus, along theupper Orion Spine. The gossanous area spans a 200-m-wide by 800-m-longconcentration of sulphide mineralization containing copper, silver,zinc, and cobalt. Within this zone, 229 samples were collected,including a 0.25 m chip sample (A0519298) that yielded 0.67 g/t gold,320.0 g/t silver, 11.96 % copper, 0.088 % cobalt, and 0.55 % zinc, aswell as a 0.5 m saw-cut channel sample (OR-23-01) that yielded 0.28g/t gold, 226.0 g/t silver, 6.95 % copper, 0.079 % cobalt, and 0.37 %zinc. A continuous channel sample line, comprised of six samples(OR-23-02), averaged 0.14 g/t gold, 57.0 g/t silver, 1.71 % copper,0.015 % cobalt, and 0.15 % zinc over 5.15 meters.”
Ken Konkin, P.Geo., President and CEO of GoldstormMetals commented: “Mineralization and textures observed at theCopernicus Zone closely resemble those found in volcanogenic massivesulphide (VMS) deposits such as the Granduc and Windy Craggy deposits,which are classified as Besshi-type VMS systems, with a comparablemetallogenic assemblage to that at the Copernicus Zone. However, it isvery early in the exploration phase and further mapping and samplingwill be required to make final determinations on the characterizationof the precious and base-metal mineralization at our new discovery.Additional geological observations suggest that this mineralizationmay also have been re-mobilized and deposited along northerly tectonicshear systems parallel to the orientation of the Orion Spine. TheCopernicus Zone was traced for approximately 400 m along the upperOrion Spine. The Company has constructed a drill pad to initiate adrill program as part of the 2024 exploration program on theCopernicus Zone. Details of the proposed drilling will be determinedprior to the 2024 drilling season.”
D. Cremonese, P. Eng., President of Teuton said:“Today’s Treaty Creek drill results are outstanding, a verypleasant surprise from some of the last holes of the season. Afurther bonus for Teuton is the reported discovery of Besshi-type, VMSmineralization at the Orion; this is important not only because ofTeuton’s 2.5% Net Smelter Return royalty (which is not encumbered bya buyback provision), but because it suggests potential for discoveryof similar VMS mineralization within the 15km long span situatedbetween the formerly producing Granduc mine and the Orion property. Teuton owns most of the ground in this trend, including propertiessuch as the Leduc Silver, Pearson, Big Gold, Eskay Rift, Tennyson andFour J’s, many of which have sizeable geophsycial anomalies on them,none of them which yet been drill-tested.“
Qualified Person
The Qualified Person for this news release for thepurposes of National Instrument 43-101 is Tudor Gold’s andGoldstorm’s President and CEO, Ken Konkin, P.Geo. He has read andapproved the scientific and technical information that forms the basisfor the disclosure contained in this news release. D. Cremonese, P.Eng., is the Qualified Person for Teuton Resources Corp. (as Presidentof the Company he is not independent of the Company). Mr. Cremonesehas not personally verified the technical data in the news release buthas no reason to doubt its accuracy.
QA/QC
Diamond drill core and field samples were prepared atMSA Labs’ Preparation Laboratory in Terrace, BC and assayed at MSALabs’ 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)
Qualified Person
The Qualified Person for this news release for thepurposes of National Instrument 43-101 is Tudor Gold and GoldstormMetal President and CEO, Ken Konkin, P.Geo. D. Cremonese, P. Eng.,is the Qualified Person for Teuton Resources Corp. (as President ofthe Company he is not independent of the Company). Mr. Cremonese hasnot personally verified the technical data in the news release but hasno reason to doubt its accuracy.
QA/QC
All samples were prepared at MSA Labs’ PreparationLaboratory in Terrace, BC and assayed at MSA Labs’ GeochemicalLaboratory in Langley, BC. Gold was assayed using a fire assay withatomic absorption (AA) spectrometry finish. Samples over 10 ppm goldwere fire assayed with gravimetric finish. All samples were analyzedby four acid digestion with multi-element ICP-MS, with silver and basemetal over-limits being reanalyzed by emission spectrometry. MSALaboratories quality system complies 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. 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 thoseanticipated in such statements. Important factors that could causeactual results to differ materially from the Company's plans orexpectations include risks relating to the actual results of currentexploration activities, fluctuating gold prices, possibility ofequipment 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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