(TheNewswire)
October 2, 2023 – TheNewswire - Victoria , Canada – Teuton Resources Corp. (“Teuton”) ( TSXV: TUO) (“theCompany”) announces that it has completedsurface exploration on some of its many properties located in theGolden Triangle region of northwestern British Columbia. Theseinclude Teuton’s 100%-owned properties south of the Sulphurets area(Seabridge Gold’s KSM property and Newmont Mining’s Brucejackproperty), namely the Big Gold, Eskay Rift, Four J’s, Tennyson andPearson properties, as well as on ground commonly owned with SilverGrail Resources east of Stewart, such as the Clone, Fiji and KonkinSilver.
Many samples were taken on the 100%-owned properties,following up on the 2022 results which suggested the presence of VMS(Volcanogenic Massive Sulfide) mineralization. Ablation (glacialmeltback) has been prominent on these properties, often exposing newmineralized areas. New zones and also continuations of zonesdiscovered in 2022 were sampled and results are currently in forassay. The northernmost properties in this package lie within thesouthern continuation of thrust faults that are spatially connected tolarge porphyry copper-gold zones further to the north. A 2018airborne Geotech ZTEM survey flown over the Pearson-Eskay Rift-BigGold ground and also the Tennyson-Four J’s properties disclosedseveral strong anomalies but as these are at depth it will requiredrilling to test their potential.
Samples were also taken from the area east of Stewartcontaining properties where ownership is shared with Silver GrailResources – Clone, Fiji and Konkin Silver properties. This region ofthe Golden Triangle area has become more prominent in recent years,largely due to the efforts of Dolly Varden Silver Corporation andGoliath Resources Limited. These two companies have drilled over60,000 metres in 2023 at their Homestake Ridge-Dolly Varden andGolddigger properties, respectively. Recent drill results from DollyVarden Silver have continued to expand their silver zones. DuringTeuton-Silver Grail’s property examination of its jointly-owned Fijiproperty, a string of fresh drill pads was observed on neighbouringDolly Varden Silver claims extending northwest of their Homestake Maindeposit. These drill pads had several rigs on them ostensiblytesting the northwestern extension of what is known as the “KitsaultValley Trend”, a trend which continues from the Dolly Varden andTorbrit Silver mines northwestward into the Homestake Main and beyondinto Teuton and Silver Grail’s Fiji property (see map, URL below). Goliath Resources has also been successful in 2023. They recentlyreported that 42% of the 98 holes drilled in 2023 contained visiblegold. Goliath is also investigating new mineralized zones whichrecently emerged from ice cover, two of which are on claims whichbound properties owned by Teuton and Silver Grail.
A first batch of assay data from sampling has beenreceived from 2023 prospecting on Teuton-Silver Grail’s Cloneproperty. These include 25 grab samples from an area of the Cloneproperty that has seen only light exploration to date and which ishypothesized as being distal to a porphyry copper zone. Results forcopper show a range from 66 to 4,450 ppm with an average of 1,640 ppm(0.16% Cu); for silver, a range from 0.20 to 6.24 ppm with an averageof 2.34 ppm, and; for gold, a range from 10 to 1,480 ppb gold with anaverage of 213 ppb gold. More samples have been sent in forassay.
Teuton and Silver Grail have owned the Clone propertyjointly since first staking in 1994-5. An optionee of the propertyeventually earned a 50% interest, leaving Teuton and Silver Grailowning 25% each. The interest earned by the optionee was later putup for sale in 2019 when the owner changed its business from mineralexploration to biopharma; it was subsequently acquired by Teuton for$200,000. Silver Grail now will pay Teuton $100,000 (plus interest)to acquire an additional 25% interest, which would leave bothcompanies reverting to their previous joint ownership (50-50).
Teuton and Silver Grail also staked the 856 hectarelarge Kswhan property in July after it came open. It lies betweenthe Clone property and Goliath’s Golddigger property.
A claim map (drawn before the Kshwan was acquired)shows properties held by Teuton and Silver Grail in this area of theGolden Triangle and can be viewed here: http://teuton.com/StewartEastmap
QualifiedPerson
Dino Cremonese, P. Eng., is the Qualified Person forTeuton Resources; as President and CEO of Teuton, he is notindependent of the Company..
Respectfully submitted,
"Dino Cremonese, P.Eng."
Dino Cremonese, P. Eng.,
President and Chief ExecutiveOfficer
Teuton Resources Corp.
For further information, please visit the Company'swebsite at www.teuton.com or contact:
Barry Holmes
Corporate Development and Communications
Tel. 778-430-5680
Email: bholmesmba@gmail.com
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
CautionaryStatements regarding Forward-Looking information
Certain statementscontained in this press release constitute forward-lookinginformation. These statements relate to future events or futureperformance. The use of any of the words "could","intend", "expect", "believe","will", "projected", "estimated" andsimilar expressions and statements relating to matters that are nothistorical facts are intended to identify forward-looking informationand are based on the Company's current belief or assumptions as to theoutcome and timing of such future events. Actual future results maydiffer materially.
All statementsrelating to future plans, objectives or expectations of the Companyare forward-looking statements that involve various risks anduncertainties. There can be no assurance that such statements willprove to be accurate and actual results and future events could differmaterially from those anticipated in such statements. Importantfactors that could cause actual results to differ materially from theCompany's plans or expectations include risks relating to the actualresults of current exploration activities, fluctuating gold prices,possibility of equipment breakdowns and delays, exploration costoverruns, availability of capital and financing, general economic,market or business conditions, regulatory changes, timeliness ofgovernment or regulatory approvals and other risks detailed herein andfrom time to time in the filings made by the Company with securitiesregulators. The Company expressly disclaims any intention orobligation to update or revise any forward-looking statements whetheras a result of new information, future events or otherwise except asotherwise required by applicable securities legislation.
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