(TheNewswire)
January 18, 2022 – TheNewswire - Vancouver, Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (TSXV:TUO) (OTC:TEUTF) (Frankfurt:TFE) has received the remaining assays for the last 8 drill holes from the 2021 program on the Company’s Del Norte property, located 34 km east of Stewart in BC’s “Golden Triangle”.
Drilling tested the contact of felsic volcanic rocks of the Hazelton Group and sedimentary rocks of the Salmon River Formation, the same horizon that hosts the Eskay Creek mine 60km north of Stewart. Drilling was from platforms located on rock islands (nunataks) sited within the South Nelson Glacier. The 2021 drilling was successful in testing for extensions of 2020 gold-silver drill hole intersections on the Argo/LG zone.
Highlights of drilling into the Argo zone include:
60.5 g/t gold and 660 g/t silver over 3.60m in DDH-21-12
11.7 g/t gold and 3,074 g/t silver over 2.29m in DDH-21-15
Decade Resources reports that the Del Norte property contains numerous mineralized zones. The two most important mineralization events are associated with quartz veins and breccias which are spatially restricted to felsic packages and the footwall contact of thrust zones as well as porphyry copper-gold. In the area of thrusting, quartz veins and breccia include the Argo/LG Vein/LG Extension Zone, Kosciuszko Zone/ SP, Eagle’s Nest, and New. The Argo/LG Vein/LG Extension Zone has been traced over 1.2km while the New zone was observed over 100m of strike in a high mountain pass between 2 ice fields. The Kosciuszko/SPzone has been traced over 1.2km as well while the Eagle’s Nest zone has been traced over 400m.These are marked by a distinct alteration halo, with a propylitic zone constituting the outer envelope of the mineralization. Galena, sphalerite, pyrite and minor chalcopyrite and tetrahedrite are common in these quartz veins.
Decade currently holds the property under option from Teuton Resources. It can earn a 55% interest in the Del Norte by spending $4 milllion in exploration over a five year period, Decade must also pay $400,000 in cash to Teuton, issue 800,000 shares upon signing (paid) and issue a further $180,000 worth of shares thereafter. After earning its 55% interest, Decade has a further option to expand its interest to 75% by taking the property to feasibility.
A tabulation of the drill results can be found in the accompanying table:
Table: Drill Results from last 8 holes of 2021 Del Norte Program
|
HOLE # |
From (m) |
To (m) |
Width (m) |
Copper % |
Lead % |
Zinc % |
Silver g/t |
Gold g/t |
Gold equivalent g/t |
|
#11 |
107.93 |
112.96 |
5.031 |
0.018 |
0.13 |
0.11 |
86.61 |
0.005 |
1.22 |
|
#12 |
210.98 |
217.99 |
7.01 |
0.09 |
0.74 |
0.90 |
391.27 |
31.56 |
37.50 |
|
#13 |
282.23 |
290.85 |
8.63 |
0.004 |
0.87 |
1.01 |
84.08 |
0.72 |
2.76 |
|
#14 |
187.04 |
191.46 |
4.12 |
0.05 |
0.81 |
0.36 |
321.37 |
0.008 |
4.72 |
|
#15 |
152.44 |
163.41 |
10.98 |
0.19 |
1.68 |
2.05 |
1,039.95 |
3.43 |
18.61 |
|
#16 |
132.62 |
136.69 |
3.96 |
0.07 |
1.15 |
1.21 |
167.0 |
1.511 |
4.94 |
|
and |
146.34 |
148.78 |
2.44 |
0.02 |
0.32 |
0.45 |
113.47 |
0.03 |
1.90 |
|
and |
176.83 |
177.20 |
0.37 |
0.08 |
0.197 |
0.39 |
561.0 |
7.78 |
15.32 |
|
#17 |
179.27 |
185.37 |
6.1 |
0.08 |
0.73 |
0.76 |
360.0 |
0.003 |
5.44 |
|
and. |
191.46 |
200.61 |
9.15 |
0.13 |
1.38 |
1.11 |
530.67 |
6.87 |
14.0 |
|
#18 |
121.34 |
130.70 |
9.36 |
0.02 |
0.15 |
0.17 |
79.82 |
0.013 |
|
|
and |
173.17 |
174.42 |
1.25 |
0.024 |
0.089 |
0.10 |
114.0 |
0.14 |
1.57 |
Analytical values have been rounded. True widths are unknown at this time.
*Gold-equivalent values for gold, silver and base metals, calculated assuming 100% metal recovery. Assumptions: US$23.46/oz silver, US$1818.15/oz gold:, copper $US4.43/ lb. lead $US 1.08/lb. and zinc $US 1.62/lb.
Ed Kruchkowski, President of the Decade Resources commented as follows: “The Company was very successful in outlining additional numerous silver rich and gold-silver areas for further exploration along the Argo/LG system. Our drilling was restricted to available rock islands but with the recession of glacial ice, these will have become bigger for the upcoming 2022 program. The newly identified Argo zone will be one of the exploration targets in 2022. The 2021 program tested the zone over a strike length of 1.2 km and 300 m of depth. The surface expression of the zone occurs below glacial ice to the east of the pads. In 2022, the Company plans to test the deep porphyry copper-gold as well as SP zone along the Kosciuszko structure provided it can raise the funds. Our plan is to earn the 55% interest this year.”
Analysis were performed by MSA Laboratories Ltd in Langley, BC.
Ed Kruchkowski, P. Geo., a qualified person under National Instrument 43-101 for Decade Resources is responsible for the contents of this release. D. Cremonese, P. Eng., is the Qualified Person for Teuton Resources Corp. He has not independently verified the assay results but has no reason to believe they are inaccurate. Mr. Cremonese, as President of Teuton, is not independent of the Company.
About Teuton
Teuton owns interests in more than thirty properties in the prolific “Golden Triangle” area of northwest British Columbia and was one of the first companies to adopt what has since become known as the “prospect generator” model. Ten of these properties are currently under option to third parties. Over $4 million in option cash payments (not including appreciable payments made in shares) has been generated from these properties since 2015, including properties where optionees have already earned their interest.
Interested parties can access information about Teuton at the Company’s website, www.teuton.com.
Respectfully submitted,
"Dino Cremonese, P.Eng."
Dino Cremonese, P. Eng.,
President and Chief Executive Officer
For further information, please visit the Company's website at www.teuton.com or contact:
Barry Holmes
Director Corporate Development and Communications
Tel. 778-430-5680
Email: barry@teuton.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements regarding Forward-Looking information
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially.
All statements relating to future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
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