(TheNewswire)
Vancouver, Canada –– TheNewswire - Teuton Resources Corp. (“Teuton” or “the Company”) (TSXV:TUO) ("TFE"- Frankfurt) has received the sixth set of drill results from its Joint Venture Partner, Tudor Gold, with respect to the 2022 exploration program at the Treaty Creek property. The property is located in the heart of the Golden Triangle of northwestern British Columbia, adjoining and on geological trend with Seabridge Gold’s KSM property and Newcrest Mining’s Brucejack property.
Ken Konkin, President and CEO of Tudor Gold, commented as follows: “We are extremely pleased to announce the on-going success of the step-out drilling at our Goldstorm Deposit. Yet another drill hole has intersected high-grade gold within the northeastern front of this Deposit. Drill hole GS-22-151-W1 was designed to undercut values obtained from GS-22-134 which yielded 0.97 g/t AuEq over 663.0 m with an enriched zone of 1.76 g/t AuEq over 205.5 m additionally this intercept contained a high-grade gold-bearing pyritic quartz breccia of 20.86 g/t AuEq over 4.5 m with multiple grains of visible gold (reported July 19, 2022). GS-22-151-W1 intersected a semi-massive pyrite-quartz breccia, hydrothermal stockwork, approximately 275 m below the GS-22-134 high-grade gold intercept. This high-grade 1.5 m intercept of 59.53 g/t AuEq within GS-22-151-W1 represents a 350-meter step-out intercept from the 2021 drilling. Our technical team views this as a significant discovery as these high-grade intercepts may be connected but further drilling is recommended to confirm the orientation and consistency along the structural corridor which hosts these and other recently reported high-grade intercepts within the northeastern aspect of the Goldstorm Deposit. Drilling results from hole GS-22-151-W1 have been partially received to date and have been reported as such. Complete assays for incomplete holes included here will be fully reported in the subsequent drill results release.
“Additionally, we are enjoying success with our in-fill drill program. Drill hole GS-22-154 was drilled in-place of GS-22-152 which was stopped due to extreme hole deviation that could not be corrected. GS-22-154 intersected 2.02 g/t AuEq over 180 m with an enriched core that carried 3.18 g/t AuEq over 93 m within the 300H domain. However, much higher gold values of 4.38 g/t AuEq over 57 m with an enriched portion of 7.84 g/t AuEq over 15 m were intersected in the upper portion of the fore-mentioned 3.18 g/t AuEq over 93 m.
“We have reported results from approximately 60% of the holes completed to-date. After drilling is completed, we will plan to incorporate these recent extraordinary results into an updated NI 43-101 Mineral Resource Estimate for 2023. The Goldstorm Deposit remains open in all directions and at depth.”
Natalie Senger, VP Resource Development of Tudor Gold added: “These drill results will contribute to the redefinition of the Copper Belle and Goldstorm resource domains. The 2021 and 2022 drilling has significantly improved our understanding of the continuity of mineralization, especially within the inferred resource portions of the DS5 and CS600 domains. Tudor’s objective is to optimize the resource domains by focussing on the most contiguous portions of mineralization with the highest grades, while optimizing the overall ounces of gold, silver, and copper. We are confident that the next NI 43-101 Mineral Resource Estimate will provide a much more robust model on which to develop the project and to continue exploration where necessary.”
The Program at the Treaty Creek property includes an aggressive resource expansion and delineation plan for several areas, including the Goldstorm Deposit and the Eureka and Calm Before the Storm Zones. Results included in this press release are reported from five diamond drill holes that were drilled on the Goldstorm Deposit (Sections 111+25 NE, 116+50 NE, and Section I). At Goldstorm, three out of five holes were drilled partially or completely outside the 2021 NI 43-101 Mineral Resource Estimate area (see URL at the end of this release for Treaty Creek plan map and sections).
GOLDSTORM DEPOSIT
SECTION 111+25 NE
GS-22-153 was drilled to target the footwall of the Treaty Thrust Fault 1 (TTF1) where the March 2021 NI 43-101 Mineral Resource Estimate classified the area largely as Inferred Mineral Resource. The drill hole successfully intercepted TTF1, below which intercepted 180.0 m grading 1.02 g/t AuEQ (0.96 g/t Au, 3.68 g/t Ag, 0.02 % Cu) within a broader envelope of 0.75 g/t AuEQ (0.70 g/t Au, 3.20 g/t Ag, 0.01 % Cu) over 355.3 m.
SECTION 116+50 NE
GS-22-154 was drilled to target an area downdip of the CS600 domain, which exists outside of the March 2021 Mineral Resource area. The drill hole also intersected the 300H domain and encountered significant mineralization; 93.0 m grading 3.18 g/t AuEQ (3.12 g/t Au, 4.59 g/t Ag, 0.01 % Cu) within a 180.0 m envelope of 2.02 g/t AuEQ (1.97 g/t Au, 3.72 g/t Ag, 0.01 % Cu). Assays for the CS600 interval are pending and will be released in the next drill results release.
SECTION I
GS-22-151 was drilled to target a 150 m step out from GS-22-133. The hole shallowed more than expected and the drill hole was terminated, and a new wedge drill hole (GS-22-151-W1) was drilled from this drill hole. Prior to termination, the hole reached mineralization that averaged 1.20 g/t AuEQ (1.19 g/t Au, 0.66 g/t Ag, 0.01 % Cu) over 18.0 m.
GS-22-151-W1 continued from its parent drill hole GS-22-151 to intersect the northwest extent of CS600. A high-grade interval of 59.53 g/t AuEQ (59.30 Au, 12.80 g/t Ag, 0.07 % Cu) over 1.5 m was drilled at the hangingwall side of the CS600 domain within a broader envelope of 202.5 m grading 1.27 g/t AuEQ, (0.93 g/t AuEQ, 1.92 g/t Ag, 0.27 % Cu). Assays for the complete CS600 interval are pending and will be released in the next drill results release.
Table 1: Drilling Results for the Goldstorm Deposit in Press Relese
|
Section |
Hole |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
Ag (g/t) |
Cu (ppm) |
AuEQ (g/t) |
|
I |
GS-22-151 (300H) |
549.00 |
567.00 |
18.00 |
1.19 |
0.66 |
76 |
1.20 |
|
I |
GS-22-151-W1 (300H) |
57.00 |
508.50 |
82.50 |
1.22 |
1.40 |
176 |
1.25 |
|
(CS600) |
423.00 |
508.50 |
85.50 |
0.86 |
1.68 |
625 |
0.95 |
|
|
And |
532.50 |
627.00 |
94.50 |
0.76 |
1.50 |
1152 |
0.92 |
|
|
And |
744.00 |
946.50 |
202.50 |
0.93 |
1.92 |
2685 |
1.27 |
|
|
Including |
744.00 |
745.50 |
1.50 |
59.30 |
12.80 |
663 |
59.53 |
|
|
n/a |
GS-22-152(1) |
No significant values |
||||||
|
111+25 NE |
GS-22-153 (300H) |
303.20 |
658.50 |
355.30 |
0.70 |
3.20 |
136 |
0.75 |
|
Including |
327.00 |
459.00 |
132.00 |
0.96 |
3.68 |
207 |
1.02 |
|
|
116+50 NE |
GS-22-154 (300H) |
418.50 |
598.50 |
180.00 |
1.97 |
3.72 |
124 |
2.02 |
|
Including |
429.00 |
522.00 |
93.00 |
3.12 |
4.59 |
101 |
3.18 |
|
|
Or |
438.00 |
495.00 |
57.00 |
4.30 |
5.91 |
96 |
4.38 |
|
|
Or |
438.00 |
453.00 |
15.00 |
7.76 |
6.48 |
63 |
7.84 |
|
|
||||||||
Table 2: Drill data for holes in Press Release
|
Section |
Hole ID |
UTM E NAD 83 |
UTM N NAD 83 |
Elevation (m) |
Azi (ᵒ) |
Dip (ᵒ) |
Depth (m) |
|
I |
GS-22-151 |
428936.00 |
6273443.20 |
1391.00 |
317 |
-62 |
567 |
|
I |
GS-22-151-W1 |
428786.79 |
6273625.20 |
957.30 |
323 |
-62 |
1068(1) |
|
n/a |
GS-22-152 |
428659.10 |
6273197.54 |
1368.70 |
305 |
-63 |
300 |
|
111+25 NE |
GS-22-153 |
428430.90 |
6272982.47 |
1371.20 |
300 |
-56 |
834 |
|
116+50 NE |
GS-22-154 |
428781.30 |
6273288.30 |
1344.90 |
293 |
-57 |
1551(2) |
|
|||||||
Qualified Person
The Qualified Person for the Treaty Creek technical information in this news release is Tudor Gold’s President and CEO, Ken Konkin, P.Geo. Mr. Konkin is also a director of Teuton Resources and as such is not independent of the Company. He has read and approved the scientific and technical information in regard to the Treaty Creek property that forms the basis for the disclosure contained in this news release.
QA/QC
Diamond drill core samples were prepared at MSA Labs’ Preparation Laboratory in Terrace, BC and assayed at MSA Labs’ Geochemical Laboratory in Langley, BC. Analytical accuracy and precision are monitored by the submission of blanks, certified standards and duplicate samples inserted at regular intervals into the sample stream by Tudor Gold personnel. MSA Laboratories quality system complies with the requirements for the International Standards ISO 17025 and ISO 9001. MSA Labs is independent of the Company.
About the Treaty Creek Property
Teuton was the original 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 (Tudor Gold is responsible for paying all exploration costs up until such time as a production decision is made) and a 0.98% NSR in the Goldstorm deposit area. It also owns numerous additional royalty interests within the Sulphurests Hydrothermal system on properties such as the King Tut, Tuck, High North, Orion, Delta and Fairweather properties. Interested parties can access information about Teuton at the Company’s website, www.teuton.com.
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. This model minimizes share equity dilution while at the same time maximizing opportunity. Earnings provided from option payments (received in cash and often also in shares of the optionee companies), has provided Teuton with substantial income over the years.
URL for various maps:
http://teuton.com/0823DrillResults
On Behalf of the Board of Directors of Teuton Resources:
"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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