(TheNewswire)
Victoria, BC – TheNewswire - September 10, 2024 – Teuton Resources Corp. (“Teuton” or “the Company”) (TSX-V:TUO) (Frankfurt:TFE) is pleased to report that Project Operator and Joint Venture (“JV”) partner Tudor Gold ("Tudor") has announced results from the fifth hole completed in the 2024 exploration drilling program (the “Program”) at the Treaty Creek Property, located in the heart of the Golden Triangle of Northwestern British Columbia. The 2024 Program has recently been safely completed, totaling 10,530 meters (m) with all crews and drilling equipment demobilized from site.
The Supercell-One Zone (SC-1) was identified earlier this year to represent a significant potential economic target that is within, and peripheral to, the CS-600 Domain. The Supercell-One system has greatly expanded with the discovery of two additional sub-parallel (SC-1A and SC-1B) hydrothermal gold-bearing quartz micro-breccia systems above the original SC-1, now labeled as SC-1C. This reported intercept of high-grade gold mineralization within drill hole GS-24-185 expands the size of SC-1C greatly by stepping out from previous drilling intercepts by 255 m up-dip and 140 m along strike. The gold-rich SC-1 system occurs within an area measuring up to 800 m in length by 400 m in depth. All three sub-parallel structures remain open in all directions and to depth. Assays remain pending on an additional intercept of CS-600 Domain in the lower section of GS-24-185.
SC-1C Drilling Highlights (2024):
Hole GS-24-185 intersected a high-grade interval of the Supercell-One System
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SC-1C; 9.60 g/t AuEq over 13.50 m (9.58 g/t Au, 0.44 g/t Ag, 0.01% Cu)
Click the following links to view a plan map and cross sections for hole GS-24-185.
Ken Konkin, President and CEO of Tudor Gold, commented: “We are very pleased with this newest high-grade result in the planned 140 m northerly step-out from GS-24-184, which intersected 8.09 g/t AuEq over 6.15 m and a 250 m easterly step-out from GS-24-181, which intersected 5.31g/t AuEq over 6.00 m (results from news release August 13, 2024). As we continue to expand these systems of high-grade structures farther to the northeast, the gold grades, and the size of the system, are increasing. We are now focusing efforts on examining previous drill intercepts that carry similar high-grade gold values to determine how far the Supercells may have pierced the nucleus of the Goldstorm Domains. Our goal is to define the ‘vascular system’ of the Supercells as they may be entwined within the heart of the CS-600 Domain, and to continue to trace the extent of these systems in all directions. Although drilling has been completed for this season, results from the final three holes are pending. We believe that the discovery of numerous high-grade gold-bearing structures confirms the presence of a large hydrothermal gold-dominant, late-stage, over-printed system that will give the project a major economic advantage.”
Drilling Discussion
Section B
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GS-24-185: This hole was drilled to step out 140 m from previously drilled SC-1C mineralization, as well as infilling CS-600 mineralization at depth. The hole intersected 13.50 m grading 9.60 g/t AuEq (9.58 g/t Au, 0.44 g/t Ag, 0.01% Cu) as part of the network of subparallel brecciated Supercell-One complex of structures. This hole also intersected mineralization typical of the CS-600 domain, and assays that remain pending for this intercept will be released in the near future.
Table 1: Drilling Results for Goldstorm Deposit in Press Release September 10, 2024
|
Section |
Hole |
Zone |
From |
To |
Interval |
Au |
Ag |
Cu |
AuEq |
|
|
(m) |
(m) |
(m) |
(g/t) |
(g/t) |
(%) |
(g/t) |
||||
|
B |
GS-24-185 |
SC-1C |
880.50 |
894.00 |
13.50 |
9.58 |
0.44 |
0.01 |
9.60 |
|
|
Inc. |
880.50 |
882.00 |
1.50 |
19.60 |
0.54 |
0.01 |
19.62 |
|||
|
Inc. |
882.00 |
883.50 |
1.50 |
6.36 |
0.36 |
0.01 |
6.38 |
|||
|
Inc. |
883.50 |
885.00 |
1.50 |
11.40 |
0.34 |
0.01 |
11.42 |
|||
|
Inc. |
885.00 |
886.50 |
1.50 |
11.60 |
0.32 |
0.01 |
11.61 |
|||
|
Inc. |
886.50 |
888.00 |
1.50 |
7.46 |
0.41 |
0.01 |
7.48 |
|||
|
Inc. |
888.00 |
889.50 |
1.50 |
1.67 |
0.20 |
0.01 |
1.68 |
|||
|
Inc. |
889.50 |
891.00 |
1.50 |
9.23 |
0.65 |
0.01 |
9.25 |
|||
|
Inc. |
891.00 |
892.50 |
1.50 |
12.10 |
0.57 |
0.01 |
12.12 |
|||
|
Inc. |
892.50 |
894.00 |
1.50 |
6.82 |
0.55 |
0.01 |
6.84 |
|||
|
· All assay values are uncut and intervals reflect drilled intercept lengths. |
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|
· HQ and NQ2 diameter core samples were sawn in half and typically sampled at standard 1.5 m intervals. |
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|
· The following metal prices were used to calculate the Au Eq metal content: Gold $1850/oz, Ag: $21/oz, Cu: $3.75/lb. Calculations used the formula AuEq = Au g/t + (Ag g/t*0.0100901) + (Cu ppm*0.0001236). All metals are reported in USD and calculations consider recoveries of 90 % for gold, 80 % for copper, and 80 % for silver. |
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|
· True widths have not been determined as the mineralized body remains open in all directions. Further drilling is required to determine the mineralized body orientation and true widths. |
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Table 2: Drill data for holes in Press Release September 10, 2024
|
Section |
Hole ID |
UTM E NAD 83 |
UTM N NAD 83 |
Elevation (m) |
Azi (ᵒ) |
Dip (ᵒ) |
Depth (m) |
|
B |
GS-24-185 |
429306 |
6274219 |
1373 |
240 |
-76 |
1350.00 |
.
Qualified Person
Ken Konkin, P.Geo, President and CEO, Tudor Gold, is the Qualified Person, as defined by National Instrument 43-101, responsible for the Treaty Creek Project (Under the terms of the Joint Venture, Tudor Gold is solely responsible for funding and carrying out work at Treaty Creek until such time as a production decision is made). Mr. Konkin has reviewed, verified, and approved the scientific and technical information in the Tudor Gold news release dated September 10, 2024. Technical information as presented in this news release by Teuton Resources is consistent with that published in the Tudor Gold release of September 10, 2024.
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 Tudor Gold and the Company.
About Treaty Creek
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 the Treaty Creek Project (Tudor Gold is responsible for paying all exploration costs up until such time as a production decision is made and owns a 60% interest; American Creek Resources owns the remaining 20% interest, also carried). Additionally, Teuton owns a 0.98% Net Smelter Royalty in the Goldstorm deposit area as well as in the northern portion of the Perfectstorm zone; within the southern portion of the Perfectstorm zone, Teuton owns a 0.49% NSR with an option to increase that to 1.49% by paying $1 million to the current owner. It also owns numerous additional royalty interests within the Sulphurets Hydrothermal system on formerly 100%-owned properties such as the King Tut, Tuck, High North, Orion, Delta and Fairweather properties (King Tut and Tuck now owned by Newmont Mining; High North, Orion, Delta and Fairweather properties now owned by Goldstorm Metals).
The Treaty Creek Project contains the Goldstorm Deposit (a large gold-copper porphyry system) as well as several other mineralized zones.
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, both in cash and in shares of the optionee companies over the past 8 years, has provided Teuton with substantial income.
On Behalf of the Board of Directors of Teuton Resources:
"Dino Cremonese"
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: bholmesmba@gmail.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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