(TheNewswire)
Vancouver, Canada – TheNewswire – November 1, 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 fourth 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 at Treaty Creek with a total of 31,904 meters(m) drilled within areas encompassing the Goldstorm Deposit and thePerfectstorm Zone. The assay results reported in this release are fromsix drill holes that targeted both the southwestern and thenortheastern areas of the Perfectstorm Zone (PSZ) locatedapproximately 1500 m apart. Click to view: http://teuton.com/Nov1Figures .
Ken Konkin, President and CEO ofTudor Gold , commented: “Tudor Gold’stechnical team has done an outstanding job with this year’s drillprogram at Treaty Creek. Not only have we significantly expanded theknown boundaries of the Goldstorm Deposit, but we have alsosuccessfully confirmed the existence of the Perfectstorm System withholes that are spaced over a distance of 1,500 meters. We believe thatwe have intersected the upper extremity of yet another porphyry systemthat lies approximately two kilometres southwest of our GoldstormAu-Cu-Ag Deposit. Typically, copper mineralization is encountereddeeper within the known deposits along the Sulphurets-Treaty ThrustFault trend. Our intersections reported in this news release occurmuch higher in elevation than the copper-rich zones encountered atGoldstorm. We have observed gold and silver-dominant mineralization inthe uppermost parts of the southwestern holes of the PerfectstormSystem with copper mineralization occurring in the deeper parts of thenortheastern holes. Our current geological interpretation is that thesystem lies peripheral to the intense magnetic anomaly that has beendetected under the Treaty Glacier to the southeast of the drill holes.Previous drilling undertaken between the two areas reported in thisnews release may have been on the periphery of strongermineralization, such as that which we discovered in drill holePS-23-10. Previous holes were oriented to the northwest, whereas thoseholes drilled this year in the opposite direction have revealed widerand more strongly mineralized intervals, such as 1.28 g/t AuEq (1.23g/t Au, 3.43 g/t Ag, 0.01 % Cu) over 102.15meters in PS-23-10. The upper 42.5 meters of this intercept yielded1.87 g/t AuEq (1.80 g/t Au, 5.76 g/t Ag, 0.02 % Cu). The Perfectstormsystem adds a new dimension to the geological potential of the TreatyCreek Project with the addition of yet another bulk-tonnage Au-Cu-Agtarget. Included in the impressive intercepts were some high-gradegold-silver veins that are interpreted as late-stage overprintedmineralization, similar to that observed at the Goldstorm Depositthroughout the 300H and CS-600 domains. Grades as high as 444.0 g/tsilver and 24.7 g/t gold were intersected over 1.5 m intervals withinholes PS-23-07 and PS-23-10 respectively. We are very excited in ouranticipation of yet another potentially massive bulk tonnage Au-Cu-Agsystem, with high-grade Au-Ag overprinting, on our explorationhorizon.”
Section A ( Northeast PSZ)
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PS-23-11: Drilled on section with the original 2020 PSZ drill holes,PS-20-01 and PS-20-02, to explore the down dip projection of the openmineralized trend. A new gold-bearing zone was intersected nearsurface returning 136.0 m of0.71 g/t AuEq (0.69 g/t Au, 1.26 g/t Ag) , thatincluded 23.4 m of 1.75 g/tAuEq (1.74 g/t Au, 0.90 g/t Ag ), as well as 20.1 m of 1.34 g/t AuEq (1.30 g/t Au, 4.21g/t Ag) . Further downhole, porphyrymineralization that had been observed in the 2020 holes wasencountered, extending the lower zone 200 m to the northwest with an interval of 138.95 m of 0.52 g/t AuEq (0.43 g/t Au,4.99 g/t Ag, 0.04 % Cu)
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PS-23-12: Drilled in the opposite direction along the same section line tocontinue exploring the lower porphyry gold-silver-copper zone. Thishole intersected 122.0 m of0.71 g/t AuEq (0.61 g/t Au, 2.96 g/t Ag, 0.06 % Cu) , including an enriched interval of 10.5 m of 3.07 g/t AuEq (2.63 g/t Au, 3.68g/t Ag, 0.34 % Cu) . This intercept is located150 m to the southeast from the 2020 drill holes and expands the lowerNE PSZ mineralization to a drilled length of 500 m.
Section B ( Southwest PSZ)
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PS-23-07: Drilled as a 400 m step-out from 2021 PSZ drill holePS-21-06, to continue exploring and expanding the system to thesouthwest. This drill hole intersected intermittent mineralizedquartz-carbonate veins in the upper part, followed by a 27.0 m widemineralized shear zone, from 541.0 to 568.0 m down hole, which assayed 1.34 g/t AuEq (1.02 g/t Au,30.13 g/t Ag, 0.02 % Cu). One 1.5 m sample returned 444.0 g/t Ag withnative silver observed in the drill core .
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PS-23-08: Drilled on the same section to explore to the northwest andto define the stratigraphy and structures of the area. This drill holeintersected multiple mineralized vein zones, two of which returned 15.0 m of 1.19 g/t AuEq (1.15g/t Au, 2.83 g/t Au, 0.02 % Cu) , and 9.0 m of 0.93 g/t AuEq (0.90g/t Au, 1.66 g/t Ag, 0.01 % Cu) at a shallowdepth of 154.5 m down hole.
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PS-23-09: Drilled to further define the vein zones and structuresobserved in hole PS-23-08. Multiple mineralized zones wereintersected, including 18.0 mof 0.98 g/t AuEq (0.96 g/t Au, 1.84 g/t Ag, 0.01 % Cu) , and 33.0 m of 0.77g/t AuEq (0.74 g/t Au, 1.63 g/t Ag, 0.01 % Cu) .
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PS-23-10: Drilled at a relatively shallow dip to the south to explorefor extension of the mineralized zone encountered in drill holePS-23-07. This hole intersected 102.15 m of 1.28 g/t AuEq (1.23 g/t Au, 3.43 g/t Ag, 0.01 % Cu) including two enriched zonescomprising 42.5 m of 1.87 g/tAuEq (1.80 g/t Au, 5.76 g/t Ag, 0.02 % Cu), and 25.5 m of 1.60 g/tAuEq (1.58 g/t Au, 1.81 g/t Ag, 0.01 % Cu) .Further downhole a high-grade vein zone was intersected and returned 1.5 m of 24. 70 g/t gold . These results are the highest goldgrades seen at PSZ to date and they are located between the GoldstormDeposit, 3 km to the northeast, and Seabridge Gold’s Iron-CapDeposit, 2.5 km to the southwest.
D. Cremonese, P. Eng., President of Teuton Resourcescommented as follows: "Ken Konkin and his team at Tudor Goldhave completed yet another outstanding year of exploration at TreatyCreek. The new assays from the Perfectstorm zone indicate thatTudor’s geological team is beginning to grasp the controls onmineralization therein, suggesting that another porphyry deposit maybe taking shape. In addition, higher grade gold intervals are beingfound within and proximate to the bulk tonnage grade material, similarto what one is seeing at the northern extremities of the Goldstormdeposit. These developments are very positive for future explorationin the area.”
Table 1: Drilling Results forPerfectstorm Zone in Press Release October 31, 2023
Section | Hole | Zone | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu (%) | AuEq (g/t) |
SW PSZ | PS-23-07 | 118.00 | 130.00 | 12.00 | 0.78 | 1.36 | 0.01 | 0.81 | |
And | 430.00 | 445.00 | 15.00 | 1.00 | 4.61 | 0.01 | 1.06 | ||
And | 541.00 | 568.00 | 27.00 | 1.02 | 30.13 | 0.02 | 1.34 | ||
Including | 556.00 | 557.50 | 1.50 | 4.85 | 444.00 | 0.02 | 9.25 | ||
PS-23-08 | 154.50 | 169.50 | 15.00 | 1.15 | 2.83 | 0.01 | 1.19 | ||
And | 192.00 | 201.00 | 9.00 | 0.90 | 1.66 | 0.01 | 0.93 | ||
And | 340.50 | 373.50 | 33.00 | 0.50 | 7.37 | 0.04 | 0.62 | ||
PS-23-09 | 237.00 | 255.00 | 18.00 | 0.96 | 1.84 | 0 | 0.98 | ||
And | 342.00 | 375.00 | 33.00 | 0.74 | 1.63 | 0.01 | 0.77 | ||
Including | 342.00 | 348.00 | 6.00 | 2.18 | 2.69 | 0.01 | 2.22 | ||
And | 411.00 | 418.50 | 7.50 | 1.40 | 33.02 | 0.15 | 1.90 | ||
Including | 415.50 | 417.00 | 1.50 | 3.78 | 99.14 | 0.24 | 5.04 | ||
PS-23-10 | 334.00 | 435.00 | 102.15 | 1.23 | 3.43 | 0.01 | 1.28 | ||
Including | 334.00 | 376.50 | 42.50 | 1.80 | 5.76 | 0.02 | 1.87 | ||
Including | 335.00 | 336.50 | 1.50 | 22.20 | 46.81 | 0.04 | 22.70 | ||
and including | 406.50 | 432.00 | 25.50 | 1.58 | 1.81 | 0.01 | 1.60 | ||
And | 610.50 | 612.00 | 1.50 | 24.70 | 0.87 | 0 | 24.71 | ||
NE PSZ | PS-23-11 | 101.00 | 237.00 | 136.00 | 0.69 | 1.26 | 0 | 0.71 | |
Including | 101.00 | 124.40 | 23.40 | 1.74 | 0.90 | 0 | 1.75 | ||
Including | 111.00 | 115.63 | 4.63 | 5.47 | 1.89 | 0 | 5.49 | ||
and including | 205.50 | 225.60 | 20.10 | 1.30 | 4.21 | 0 | 1.34 | ||
And | 390.50 | 529.45 | 138.95 | 0.43 | 4.99 | 0.04 | 0.52 | ||
Including | 408.90 | 438.00 | 29.10 | 0.38 | 4.33 | 0.11 | 0.55 | ||
and including | 472.50 | 489.75 | 17.25 | 0.73 | 13.43 | 0.04 | 0.92 | ||
PS-23-12 | 228.00 | 350.00 | 122.00 | 0.61 | 2.96 | 0.06 | 0.71 | ||
Including | 232.50 | 308.60 | 76.10 | 0.77 | 4.12 | 0.08 | 0.91 | ||
Including | 232.50 | 243.00 | 10.50 | 2.63 | 3.68 | 0.34 | 3.07 | ||
Including | 237.00 | 238.50 | 1.50 | 15.10 | 10.25 | 0.32 | 15.58 |
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Table 2: Drill data for holes inPress Release October 31, 2023
Section | Hole ID | UTM E NAD 83 | UTM N NAD 83 | Elevation (m) | Azi (°) | Dip (°) | Depth (m) |
SW PSZ | PS-23-07 | 426019.9 | 6270422.8 | 1764.7 | 320 | -88 | 726 |
PS-23-08 | 426019.2 | 6270423.0 | 1764.6 | 320 | -60 | 507 | |
PS-23-09 | 426018.6 | 6270422.2 | 1764.5 | 290 | -60 | 600 | |
PS-23-10 | 426021.6 | 6270417.6 | 1764.2 | 170 | -60 | 666 | |
NE PSZ | PS-23-11 | 427438.0 | 6271029.0 | 1500.8 | 295 | -50 | 654 |
PS-23-12 | 427439.1 | 6271029.7 | 1500.8 | 110 | -60 | 483 |
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 theCompany he is not independent of the Company). Mr. Cremonese has notpersonally verified the technical data in the news release but has noreason 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 remaining 20% interest, also carried). Additionally, Teuton owns a 0.98% Net Smelter Royalty in theGoldstorm deposit area as well as in the northern portion of thePerfectstorm zone; within the southern portion of the Perfectstormzone, Teuton owns a 0.49% NSR with an option to increase that to 1.49%by paying $1 million to the current owner. It also owns numerousadditional royalty interests within the Sulphurets Hydrothermal systemon formerly 100%-owned properties such as the King Tut, Tuck, HighNorth, Orion, Delta and Fairweather properties (King Tut and Tuck nowowned by Newmont Mining; High North, Orion, Delta and Fairweatherproperties 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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