Teuton Resources's Treaty Creek Step-Out Drill Hole (GS-21-119) Successfully Expands the Goldstorm System to the Northeast
With 1.76 G/T Gold Eq Over 196.5 Meters Within 564.0 Meters Containing 1.09 G/T Gold Eq; Near-Surface Gold Mineralization Intersected at the Eureka Zone with 0.76 G/T Gold Eq Over 217.5 MetersVancouver, Sept. 28, 2021 - Teuton Resources Corp. ("Teuton" or "the Company") (TSXV:TUO) (OTC:TEUTF) (Frankfurt:TFE) has received a report from its joint venture partner Tudor Gold presenting the third set of results from the 2021 resource expansion and definition drilling program at the Goldstorm Deposit, Treaty Creek property. The project is located in the heart of the Golden Triangle of northwestern British Columbia and is on-trend from Seabridge's KSM Project located five kilometers southwest of the Goldstorm Deposit. Exploration at Treaty Creek is ongoing at the Goldstorm and Eureka zones with six diamond drills now fully crewed.
Treaty Creek, Drilling Highlights include:
-
- Extended the DS-5 Domain 100 meters north of GS-21-112 (core zone of 2.08 g/t AuEq over 79.5 m within 219.0 m containing 1.29 g/t AuEq) with step-out hole GS-21-119 with a strong, consistent mineralized core zone intercept of 196.5 m containing 1.76 g/t AuEq within a broader zone of 564.0 m containing 1.09 g/t AuEq.
- Confirmed consistent mineralization in GS-21-116 over a long interval of 1092.0 m grading 0.75 g/t AuEq that includes the 300H and CS-600 domains.
- Near-surface mineralization encountered at Eureka Zone in EK-21-01 with 67.5 m of 1.13 g/t AuEq within 217.5 m averaging 0.76 g/t AuEq.
- Eureka Zone remains open in all directions and at depth.
- Goldstorm Deposit remains open in all directions and at depth as drilling continues.
The complete list of composited drill hole results as well as the drill hole data including hole location, elevation, depth, dip and azimuth are provided in Table 1 and Table 2, respectively. Please click on the URL provided at the end of the release for a plan map and cross sections of the drill holes.
Tudor Gold's Vice President of Exploration and Project Development, Ken Konkin, P.Geo., states: "We are extremely pleased with our continued success with our step-out drilling at the Goldstorm Deposit. Due to the success of hole GS-21-119 we plan to step-out further to the northeast before the end of this year's drilling. This program demonstrates the emergence of higher-grade pulses of gold mineralization within the 300 Horizon and a distinct central enriched gold zone within the DS-5 domain. Similar enriched zones of copper mineralization within the CS-600 domain are also apparent. These are "zones within zones" that give our domains a new common dynamic characteristic. Continued drilling is required to better define and potentially expand these enriched pulses within our broad mineralized domains."
Moreover, Ken Konkin also commented on the drill hole EK-21-01 at the Eureka target:
"In addition, we confirmed that a significant gold system exists at the Eureka Zone with mineralization occurring near surface, which terminates in a regional thrust fault at depth. An interesting aspect of the Eureka system is that the gold mineralization ends in what may be the same thrust fault that truncates the DS-5 system at Goldstorm. The attached drill section shows the spatial relationship between the Goldstorm Deposit and the Eureka Zone (Regional Section - Goldstorm to Eureka). The current geological interpretation is that the DS-5 domain may connect to the Eureka Zone which adds another dimension to the potential size of the Goldstorm Deposit. Eureka drill hole EK-21-01 contains an enriched central zone averaging 1.13 g/t AuEq over 67.5 meters that lies within 217.5 meters grading 0.76 g/t AuEq. Similarly, in drill hole GS-21-119, the DS-5 contains an enriched central core of gold mineralization that yields an impressive 1.76 g/t AuEq over 196.5 meters within the overall intercept of 1.09 g/t AuEq over 564.0 meters. Due to the success of the step-out exploration drilling at the Goldstorm Deposit, the Eureka drill was dispatched to continue the step-out drilling to the northeast at Goldstorm.
Our primary goal remains to find the limits to the Goldstorm Deposit and to constrain the resources from our Initial Mineral Resource Estimate of 19.41 million ounces of Measured and Indicated and 7.9 million ounces of Inferred gold-equivalent ounces. We continue to intercept exceptional mineralization within the defined domains and consistently identify extensions to these domains particularly to the northeast and northwest, as well as at depth. Clearly, more drilling is required to further define the Goldstorm, Eureka and Perfect Storm Zones for 2022."
Walter Storm, President and CEO, stated: "We are very excited to see the continuing expansion of the Goldstorm Deposit to the northeast with the release of these exceptional drill results. The geological potential of the Treaty Creek Project is growing with each new drill hole. All drill holes that have reached their targeted depths have encountered significant precious metal mineralization. One very important aspect about the furthest step-out drill hole GS-21-119, is that this vertical hole ended in gold mineralization at 1290 meters. This hole had to be abandoned as the ice pad became too hazardous to continue drilling and worker safety is always our number one priority. The Goldstorm Deposit remains open in all directions and at depth. In addition to this, our exploration team continues to encounter significant gold mineralization in other zones, such as the Eureka Zone. With the news of yet another positive result from Tudor's first hole at the Eureka Zone (EK-21-01), the geological potential of this zone has been up-graded to a priority near surface gold target. This drill hole was started with the largest diameter core possible (PQ), then sized-down to HQ diameter core as the hole progressed. Our drill crews were able to get excellent core recoveries in very fractured ground. We congratulate our drillers for a successful campaign during these difficult times and look forward to releasing additional positive news in the coming weeks as drilling continues to progress extremely well."
About the Eureka drill target:
The Eureka zone is located approximately 1,000 meters southeast of the Goldstorm Deposit along the western edge of an extensive, bright yellow-orange gossan zone covering over one square kilometer of clay, sericite, quartz and pyrite alteration. Alteration overprints several different rock units, including volcanic flows and breccias, plagioclase-porphyry intrusions, and minor sedimentary rocks. Alteration mineralogy suggests a shallow magmatic hydrothermal or epithermal environment of formation, with the potential to host gold-silver bearing veins and pervasive lower-grade disseminated gold-silver mineralization.
At the Eureka showing, outcrops are cut by veins infilled with fine to coarse-grained quartz, calcite, and pyrite. Veins have steep dips with variable orientations and form weakly sheeted to stockwork zones. In the Eureka zone and surrounding area about 20 holes have been drilled on various targets by previous operators with poor core recoveries. Several long intervals of weakly elevated gold grades were returned, such as 0.46 g/t Au over 169.2 m (DH 97-1) and 0.69 g/t Au, 2.9 g/t Ag over 75.5 m (TC07-02). Additional drilling is required to better define the mineralized areas.
Table l: Results Goldstorm Zone and Eureka Zone Press Release September 28, 2021
-------------------------------------------------------------------------------------------------------
|Section |Hole |Zone |From (m)|To (m) |Interval (m)|Au
(g/t)|Ag (g/t)|Cu ppm|AuEQ (g/t)|
|-----------------------------------------------------------------------------------------------------|
|111+00 NE|EK-21-01 |Eureka |12.50 |230.00 |217.50
|0.68 |3.85 |279 |0.76 |
|-----------------------------------------------------------------------------------------------------|
| | | |89.00 |228.50 |139.50
|0.82 |3.80 |390 |0.91 |
|-----------------------------------------------------------------------------------------------------|
| | | |95.00 |162.50 |67.50
|1.01 |5.60 |467 |1.13 |
|-----------------------------------------------------------------------------------------------------|
| | | | | |
| | | | |
|-----------------------------------------------------------------------------------------------------|
|114+50 NE|GS-21-114*|300H |203.00 |214.00 |11.00
|1.51 |1.33 |99 |1.53 |
|-----------------------------------------------------------------------------------------------------|
|114+50 NE|GS-21-116 |300H+CS600 |296.00 |1388.00|1092.00
|0.52 |2.84 |1653 |0.75 |
|-----------------------------------------------------------------------------------------------------|
| | | | | |
| | | | |
|-----------------------------------------------------------------------------------------------------|
| | |including 300H|318.50 |534.50 |216.00
|0.72 |3.97 |352 |0.81 |
|-----------------------------------------------------------------------------------------------------|
| | |with |477.50 |534.50 |57.00
|1.18 |6.79 |501 |1.32 |
|-----------------------------------------------------------------------------------------------------|
| | |and |636.50 |707.00 |70.50
|0.91 |3.58 |303 |0.99 |
|-----------------------------------------------------------------------------------------------------|
| | |CS6000 |1040.00 |1388.00|348.00
|0.62 |3.42 |4379 |1.18 |
|-----------------------------------------------------------------------------------------------------|
| | |including |1080.50 |1341.50|261.00
|0.70 |2.99 |5521 |1.39 |
|-----------------------------------------------------------------------------------------------------|
|116+50 NE|GS-21-119 |DS5 |726.00 |1290.00|564.00
|0.96 |8.45 |244 |1.09 |
|-----------------------------------------------------------------------------------------------------|
| | |including |861.00 |1057.50|196.50
|1.62 |10.31 |153 |1.76 |
|-----------------------------------------------------------------------------------------------------|
|*Hole shut down due to extreme
|
|deviation and redrilled as GS-21-116
|
|- All assay values are uncut and
|
|intervals reflect drilled intercept
|
|lengths.
|
|- HQ and NQ2 diameter core samples
|
|were sawn in half and typically
|
|sampled at standard 1.5m intervals
|
|- The following metal prices were
|
|used to calculate the Au Eq metal
|
|content: Gold $1625/oz, Ag: $19/oz,
|
|Cu: $2.8/lb. Calculations used the
|
|formula Au Eq g/t = (Au g/t) + (Ag
|
|g/t x 0.01169) + (Cu% x 1.1815). All
|
|metals are reported in USD and
|
|calculations do not consider metal
|
|recoveries.
|
|- 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.
|
-------------------------------------------------------------------------------------------------------
Table 2: Drill data for holes in Press Release September 28, 2021
-------------------------------------------------------------------------------------------------------
|Section |Hole |Zone |From (m)|To (m) |Interval (m)|Au
(g/t)|Ag (g/t)|Cu ppm|AuEQ (g/t)|
|-----------------------------------------------------------------------------------------------------|
|111+00 NE|EK-21-01 |Eureka |12.50 |230.00 |217.50
|0.68 |3.85 |279 |0.76 |
|-----------------------------------------------------------------------------------------------------|
| | | |89.00 |228.50 |139.50
|0.82 |3.80 |390 |0.91 |
|-----------------------------------------------------------------------------------------------------|
| | | |95.00 |162.50 |67.50
|1.01 |5.60 |467 |1.13 |
|-----------------------------------------------------------------------------------------------------|
| | | | | |
| | | | |
|-----------------------------------------------------------------------------------------------------|
|114+50 NE|GS-21-114*|300H |203.00 |214.00 |11.00
|1.51 |1.33 |99 |1.53 |
|-----------------------------------------------------------------------------------------------------|
|114+50 NE|GS-21-116 |300H+CS600 |296.00 |1388.00|1092.00
|0.52 |2.84 |1653 |0.75 |
|-----------------------------------------------------------------------------------------------------|
| | | | | |
| | | | |
|-----------------------------------------------------------------------------------------------------|
| | |including 300H|318.50 |534.50 |216.00
|0.72 |3.97 |352 |0.81 |
|-----------------------------------------------------------------------------------------------------|
| | |with |477.50 |534.50 |57.00
|1.18 |6.79 |501 |1.32 |
|-----------------------------------------------------------------------------------------------------|
| | |and |636.50 |707.00 |70.50
|0.91 |3.58 |303 |0.99 |
|-----------------------------------------------------------------------------------------------------|
| | |CS6000 |1040.00 |1388.00|348.00
|0.62 |3.42 |4379 |1.18 |
|-----------------------------------------------------------------------------------------------------|
| | |including |1080.50 |1341.50|261.00
|0.70 |2.99 |5521 |1.39 |
|-----------------------------------------------------------------------------------------------------|
|116+50 NE|GS-21-119 |DS5 |726.00 |1290.00|564.00
|0.96 |8.45 |244 |1.09 |
|-----------------------------------------------------------------------------------------------------|
| | |including |861.00 |1057.50|196.50
|1.62 |10.31 |153 |1.76 |
|-----------------------------------------------------------------------------------------------------|
|*Hole shut down due to extreme
|
|deviation and redrilled as GS-21-116
|
|- All assay values are uncut and
|
|intervals reflect drilled intercept
|
|lengths.
|
|- HQ and NQ2 diameter core samples
|
|were sawn in half and typically
|
|sampled at standard 1.5m intervals
|
|- The following metal prices were
|
|used to calculate the Au Eq metal
|
|content: Gold $1625/oz, Ag: $19/oz,
|
|Cu: $2.8/lb. Calculations used the
|
|formula Au Eq g/t = (Au g/t) + (Ag
|
|g/t x 0.01169) + (Cu% x 1.1815). All
|
|metals are reported in USD and
|
|calculations do not consider metal
|
|recoveries.
|
|- 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.
|
-------------------------------------------------------------------------------------------------------
Qualified Person
The Qualified Person for this news release for the purposes of National Instrument 43-101 is Tudor Gold's Vice President of Exploration and Project Development, Ken Konkin, P.Geo. Mr. Konkin is also a director of Teuton. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.
QA/QC
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 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 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 (carried until such time as a production decision is made). Interested parties can access information about Teuton at the Company's website, www.teuton.com.
Figures & Videos Accompanying News Release
Please click link to view Plan Map and Cross-Sections: http://teuton.com/GSCBSept2021
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.