(TheNewswire)
January 25, 2023 – TheNewswire - Victoria , Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (TSXV:TUO) (OTC:TEUTF) (Frankfurt:TFE) announces that it has received a corporate update made by itsJoint Venture Partner Tudor Gold Corp. (“Tudor Gold”) with respectto the Treaty Creek Property, northwestern BC. Teuton was the original staker of the Treaty Creek property,host to the large Goldstorm deposit, assembling the core land positionin 1985. It presently holds a 20% carried interest in Treaty Creek(Tudor Gold is responsible for paying all exploration costs up untilsuch time as a production decision is made and owns a 60% interest;American Creek Resources owns the remaining 20% interest, alsocarried). Additionally, Teuton owns a 0.98% Net Smelter Royalty inthe Goldstorm deposit area. It also owns numerous additional royaltyinterests within the Sulphurests Hydrothermal system on propertiessuch as the King Tut, Tuck, High North, Orion, Delta and Fairweatherproperties.
Ken Konkin, CEO of Tudor Gold, stated: "Our Treaty Creek Project possesses the potential forseveral years of exploration to host another Goldstorm Deposit withnumerous recently discovered, significant Au-Cu-Ag targets. Ourlargest drill target, Perfectstorm lies on-trend and is equidistantfrom our Goldstorm Deposit and Seabridge Gold's Iron Cap Deposit at adistance of 2.5 kilometers to each deposit. The Perfectstorm systemholds a very high priority as a drill target, however, our toppriority is to drill off the Goldstorm Deposit with the focus on theCS-600 copper-gold-silver domain, as it remains open in all directionsand at depth."
Corporate Update on the GoldstormMineral Resource Estimate and Project Development as Provided by TudorGold
Tudor Gold continues to move forwardon an updated Mineral Resource Estimate (MRE) for its GoldstormDeposit at Treaty Creek by completing an updated geologic model andadvancing the understanding of the mineral distribution at Goldstorm.The Company anticipates that the MRE update will be announced withinQ1 2023 and is expected to focus on higher grades to increase theoverall quality of gold, silver, and copper resources.
Recent construction of anexploration access road by our heavy equipment operators has connectedthe property's lower camp to the weather station area located twokilometers downstream from the lower camp. It is expected that thisroad will be further extended in order to connect to Seabridge'sTailings Access Road. Seabridge Gold has made excellent progress inconnecting their tailing site which is located 17 kilometers fromHighway 37, including a large bridge that crosses the Bell IrvingRiver, at no cost to Tudor Gold. The construction of this tailingsaccess road is expected to be completed later in 2023. Once the17-kilometer Seabridge Tailings access road is completed, only a14-kilometer road will remain to be built, which is completelypermitted for construction. Following completion of all roadconstruction it is expected that Tudor Gold’s Treaty Creek Projectwill have year-round all-season vehicle access. In addition, it is theCompany's understanding that Seabridge also plans to bring in a powerline to their tailings site area bringing additional infrastructuremuch closer to our claim boundary.
Tudor Gold is also pleased to reportthat the 2-year baseline hydrology and water quality studies areanticipated to be completed by March 2023. This will satisfy a majormilestone for future permitting requirements and bring the project onestep closer to potential production phase.
Dino Cremonese, P. Eng., CEO and President of Teuton,commented as follows: “Progress continues at Treaty Creek againsta backdrop of rising gold prices, a fine start to 2023.”
QualifiedPerson
The Qualified Person for the Treaty Creek technicalinformation in this news release is Tudor Gold’s President and CEO,Ken Konkin, P.Geo. Mr. Dino Cremonese, P. Eng., CEO and President ofTeuton, is the Qualified Person for Teuton Resources. Although hehas not independently verified the technical data presented in thisnews release he has no reason to believe it is inaccurate. Mr.Cremonese, as a director and CEO of Teuton, is not independent of theCompany.
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 in cash and oftenalso in shares of the optionee companies), has provided Teuton withsubstantial income over the years.
Interested parties can access information about Teutonat the Company’s website, www.teuton.com .
Respectfully submitted,
"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
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 whether as aresult of new information, future events or otherwise except asotherwise required by applicable securities legislation.
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