(TheNewswire)
Vancouver, Canada – TheNewswire – November 16, 2021 –– Teuton Resources Corp. (“Teuton” or “the Company”) (TSXV:TUO) (OTC:TEUTF) (Frankfurt:TFE) announces that its optionee, Decade Resources (“Decade”), has reported assays from the first 10 of 16 holes drilled in 2021 on the Del Norte property, located 34 km east of Stewart in BC’s “Golden Triangle”.
The object of the program was to test a stratigraphic horizon--the contact between felsic volcanic rocks of the Hazelton Group and sedimentary rocks of the Salmon River Formation, two rock units which also host the Eskay Creek mine 60km north of Stewart. Mineralization is located within a pyrite-rich, graphitic black mudstone horizon within black matrix lapilli tuffs with sub-intervals of dacite lapilli tuffs. Fracturing and faulting within this unit has resulted in the deposition of quartz and sulphides. The faulting has resulted in black graphitic gouge, crushed sulphides and quartz fragments. Mineralization includes pyrite, sphalerite, galena and tetrahedrite along with visible gold and silver.
Holes from #9 to #16 carried the best visual concentrations of native gold, native silver and acanthite (as reported in releases dated Aug. 18, Aug. 26 and Sept. 21, 2021). These observations are now supported by assays with results from #9 and #10 reported below (#11 to #16 are awaited):
|
HOLE # |
From(m) |
To (m) |
Width (m) |
Gold g/t |
Silver g/t |
Gold equivalent |
Silver Equivalent |
|
#9 |
231.4 |
246.6 |
15.24 |
2.22 |
312.5 |
6.44 |
476.8 |
|
Incl. |
231.4 |
232.9 |
3.66 |
0.92 |
221.6 |
3.91 |
289.7 |
|
Incl. |
242.4 |
246.6 |
4.27 |
7.13 |
911.0 |
19.44 |
1,438.6 |
|
Incl. |
242.4 |
243.6 |
1.22 |
15.27 |
951.0 |
28.12 |
2,081.0 |
|
#10 |
222.6 |
232.47 |
9.91 |
4.28 |
1,091.6 |
19.03 |
1,408.3 |
|
Incl. |
225.3 |
228.35 |
3.05 |
13.77 |
2,661.0 |
49.73 |
3680.0 |
Analytical values have been rounded. True widths are unknown at this time.
*Silver-equivalent values for gold and silver only (no base metals), calculated assuming 100% metal recovery. Assumptions: US$/oz silver, US$/oz gold: 1:74 ratio.
D. Cremonese, P. Eng., President and CEO of Teuton, commented as follows: “These gold-silver numbers are among the best received to date from the Argo/LG structure on the Del Norte property. Based on visuals, I expect similar or better assays from the remaining holes. It appears that Decade Resources’s geological team, headed by Ed Kruchkowski, is beginning to understand the controls for the precious metal mineralization.”
Ed Kruchkowski, P. Geo., President of Decade Resources made the following comment: “[Decade] was very successful in outlining additional numerous silver-rich 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 up coming 2022 program. The newly identified Argo zone will be the primary focus of exploration in 2022.”
Assays from some of the first eight holes drilled in 2021 are presented below:
|
HOLE # |
From(m) |
To (m) |
Width (m) |
Gold g/t |
Silver g/t |
Gold equivalent |
|
|
# 1 |
152.65 |
153.05 |
0.4 |
2.17 |
82.49 |
3.28 |
243.0 |
|
and |
175.1 |
180.49 |
4.57 |
0.07 |
150.2 |
2.10 |
155.4 |
|
#3 |
125.61 |
128.66 |
3.05 |
0.26 |
77.48 |
1.31 |
96.7 |
|
#4 |
151.71 |
159.15 |
7.44 |
0.87 |
261.28 |
4.40 |
325.7 |
|
#6 |
135.82 |
141.46 |
5.64 |
2.61 |
367.4 |
7.57 |
560.5 |
|
#8 |
216.16 |
216.92 |
0.76 |
0.2 |
150 |
2.23 |
164.8 |
|
and |
249.7 |
261.89 |
12.2 |
0.22 |
178.55 |
2.23 |
194.8 |
Analytical values have been rounded. True widths are unknown at this time.
*Silver-equivalent values for gold and silver only (no base metals), calculated assuming 100% metal recovery. Assumptions: US$/oz silver, US$/oz gold: 1:74 ratio.
Analyses were performed by MSA Laboratories Ltd in Langley, BC. The Del Norte property was optioned from Teuton Resource Corp. in January of 2020 with terms allowing Decade to earn up to a 55% interest in the property by spending $4 million over a five year period. Decade can earn an additional 20% interest by carrying the property to commercial production.
D. Cremonese, P.Eng., is the Qualified Person for Teuton Resources Corp.; as President of the Company he is not independent. Although Mr. Cremonese has not personally verified the accuracy of the technical information provided by Decade in the news release, he has no reason to believe it is inaccurate.
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. Teuton earned $3.9 million net income in 2020 and a further $2.4 million in the first quarter of 2021. Its income is derived from option payments.
Teuton was the staker of the Treaty Creek property, host to the large Goldstorm deposit, assembling the core land position in 1985. It presently holds a 20% carried interest in Treaty Creek (carried until such time as a production decision is made) and a 0.98% NSR in the Goldstorm deposit. 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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