(TheNewswire)
February 11, 2021 – TheNewswire - Vancouver, Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (TSXV:TUO) (Frankfurt-TFE) (OTC:TEUTF) has received a report from its optionee, Decade Resources, regarding the first two holes of the 2020 program, both of which were drilled into the K (Kosciuszko) zone on the Del Norte property, located 34 km east of Stewart in BC’s “Golden Triangle”. In total 20 other holes were completed exploring for silver-gold bearing mineralization in the newly identified Argo and Eagle’s Nest zones.
The 2020 program indicated that silver-rich mineralized zones are in rocks analogous to those hosting the Eskay Creek deposit. These rocks are at the contact with black mudstones of the Salmon River formation with mineralization in sheared felsic black mud lapilli tuffs analogous to the Mt. Dilworth Formation. Prior to the start of last year’s program, two zones were indicated, namely the LG vein and K zone; 2020 work has defined four other strong mineralized zones in the vicinity including the Argo and Eagle’s Nest zones.
Historical results, all of which occurred during Teuton’s ownership of the Del Norte property, are as follows:
- A chip sample taken across the K zone zone during its discovery in 2002 returned 6.07 g/t gold and 623.7 g/t silver across a width of 10.0 metres.
- Three holes drilled from a single station located 12 m south of the chip sample intersected true widths of mineralization varying from 8.5 to 10 metres and carrying gold values ranging from 3.53 to 7.56 g/t gold and silver values ranging from 176.95 to 274.24 g/t.
- Several hundred metres north of the above, drilling on the same or a sub-parallel structure returned 6.47 g/t gold and 346.02 g/t silver over 15.54 metres.
- Other holes in this area intersected 8.6 m of 3.02 g/t gold and 270.5 g/t silver over 8.74 metres.
Assays from 2020 drilling indicate the following:
|
DDH # |
From (m) |
To(m) |
Width (m) |
Au g/t |
Ag g/t |
Ag g/t eq |
|
DN20-01 |
162.69 |
164.69 |
1.80 |
4.77 |
42.87 |
386 |
|
DN20-02 |
167.72 |
171.45 |
4.34 |
0.78 |
40.29 |
96.5 |
Analytical values have been rounded.
*Silver-equivalent values for gold and silver only (no base metals), calculated assuming 100% metal recovery. Assumptions: US$25/oz silver, US$1800/oz gold: 1:72 ratio.
The zone tested was 50 m north and 50 m below the 2002 intersections.
In addition, surface sampling indicated the zone was at least 500 m in strike length. Chip line sampling on the SP zone, a south extension of the Kosciuszko zone gave 3.8m of 5.74 g/t Au and 405 g/t (818 Ag g/t eq) as well as 2m of 1.13 g/t Au and 212 g/t Ag (293 g/t Ag eq). A float sample immediately west of this trenching gave 49.7 g/t Au, 2200 g/t Ag, 0.165% Cu, 0.852 % Pb and 0.047 % Zn indicating parallel mineralized zones.
Analysis were performed by Activation Laboratories Ltd. in Kamloops BC, an accredited facility.
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 $2 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.
Teuton was the original staker of the Treaty Creek property 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) as well as a 0.98% NSR in the claims covering the Goldstorm zone. A 0.49% NSR is owned in the peripheral claims. None of the NSRs are subject to a buy-back. Teuton also owns eight other royalties in the Sulphurets Hydrothermal System with interests ranging up to 2.5%, none of which are subject to a buyback. 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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