DRILL HOLE GS-20-73 EXPANDS THE 300 HORIZON WITH A 229.5 METER INTERCEPT AVERAGING 1.506 gpt AuEq WITHIN A 775.5 METER INTERVAL AVERAGING 0.932 gpt AuEq. DRILL HOLE GS-20-66 EXPANDS THE CS-600 SYSTEM 100 METRES TO THE SOUTHEAST WITH A 75 METER INTERCEPT AVERAGING 2.150 gpt AuEq.
Sept. 10, 2020 – TheNewswire – Vancouver, Canada — Teuton Resources Corp. (“Teuton” or “the Company”) (TSXV:TUO) (OTC:TEUTF) (Frankfurt-TFE) has received a report from its joint venture partner Tudor Gold containing results from the third set of holes drilled in 2020 at the Treaty Creek property, located in the Golden Triangle of northwest British Columbia. Tudor Gold says that drilling is progressing very well with six diamond drill rigs currently working on the Goldstorm Zone which is on-trend from Seabridges’ KSM Project to the southwest.
Three drill holes have intersected the newly discovered gold-dominant PSZ System located approximately 2 kilometers southwest of the Goldstorm Zone. These diamond drill holes targeted a 1.5 kilometer-wide geophysical anomaly (magnetometer high). Tudor Gold has discovered this new thrust-hosted porphyry-style gold-copper-silver bearing system on trend, and approximately 4 km northeast from Seabridges’ Iron Cap Deposit, which is located at the southwestern boundary of the Tudor Claim block.
Furthermore, diamond drilling on the Goldstorm System has successfully expanded the mineralization to the northeast, southwest and southeast as well to depth. The Goldstorm System 300 Horizon has now been traced for 1100 meters along the northeast axis.
Goldstorm Drilling Highlights include:
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– Five diamond drill holes are reported from Goldstorm, all having hit their intended targets with favorable results listed in Table l.
– The best intercept was from drill hole GS-20-73 on Section 110+00 NE that cut 775.5 metres (29.0m to 804.5 m) averaging 0.932 gpt AuEq containing an enriched portion that averaged 1.506 gpt AuEq over 229.5 meters ( 519.5m to 749.0 m). This was a southwest offset to drill hole GS-20-57 that averaged 1.40 gpt AuEq over 217.5 meters (544.5 to 762.0 meters) within an overall composite averaging 0.845 gpt AuEq over 973.05m (34.50 to 1007.55 meters). (GS-20-57 was collared on Section 110+00 but deviated drastically to the northeast and the lower portion plotted on Section 111+00 NE leaving a gap in the drill model which GS-20-73 has now filled).
– A second longer intercept from GS-20-73 includes material that averaged 0.828 gpt AuEq from a 949.5 meter intercept (29.0 to 978.5 meters) but the hole was abandoned at 980 meters due to safety concerns with the drill platform so hole GS-20-73 WAS STOPPED IN MINERALIZATION. However, the results from entire hole composites are extremely consistent between GS-20-57 (0.845 gpt AuEq over 973.05 meters) and GS-20-73 (0.827 gpt AuEq over 949.5 meters).
– Drill hole GS-20-73 is undercut by GS-20-65; a remarkable 348 meter intercept of 2.120 gpt AuEq within a larger 930 meter intercept of 1.161 gpt AuEq (Press Release July 27th, 2020), which is currently the best intercept on the project to-date.
– Tudor expanded the CS-600 Zone 100m to the southeast on Section 109+00 NE with a 75 meter intercept averaging 2.150 gpt AuEq in hole GS-20-66.
– GS-20-67 on Section 114+00 NE deviated drastically to the north thereby extending the length of the northeast axis of the 300 Horizon to 1100 meters. This hole also ended in mineralization with the last 15 meters (1325m to 1340m) averaging 0.905 gpt AuEq within a strong quartz stockwork zone similar to the DS-5 stockwork system found at the bottom of GS-19-47 (243 meters averaging 0.996 gpt AuEq). See Section 114+00 NE attached below.
– Notable increase to silver grades occurred within GS-20-73. A 78 meter intercept (534.5m to 612.5m) had elevated silver grades averaging 26.3 gpt Ag associated with 1.588 gpt gold.
[Seven figures accompany this news release showing sections and plan maps, URLs for which can be found at the end of the release.]
Tudor Gold’s Vice President of Project Development, Ken Konkin, P.Geo., states: “We are very pleased to have intersected significant gold-copper-silver porphyry-related mineralization within a large magnetic anomaly called Perfectstorm (PSZ). This magnetic anomaly is located along a relatively evenly spaced frequency of large deposits following the Treaty-Sulphurets Thrust Fault, approximately mid-way between the Iron Cap Deposit to the southwest and our Goldstorm System to the northeast. Results obtained from PS-20-01 and PS-20-02 on Section 89+00 NE demonstrate the consistency within these two drill holes completed off the same drill pad. PS-20-01 intersected 0.594 gpt AuEq over 133.5 meters while PS-20-02 intersected 151 meters of 0.621 gpt AuEq. The third PSZ System drill hole was a 300 meter step-out to the southwest and this hole (PS-20-03) intersected 220.5 meters of 0.402 gpt AuEq on Section 86+00 NE. The results suggest that the system is open to expansion to the southwest and to the northwest. The exploration target area is at least 1.5 kilometers long and 500-800 meters wide. We are very excited to see the results confirming that large mineralized polymetallic systems occur at a predictable frequency along the Sulphuretes-Treaty Thrust Fault belt. We are planning an aggressive diamond drill-hole program for 2021 to further expand the limits of the PSZ System’s potential mineralization, searching for the center of the metal pile as we have successfully done with the Goldstorm System.”
The two tables below provide the complete list of composite results from the eight drill holes reported, as well as the drill hole data including hole location, elevation, depth, dip and azimuth. Perfectstorm Sections 86+00 NE and 89+00 NE with Goldstorm Sections 109+00 NE, 110+00 NE and 114+00 NE are attached below along with corresponding plan maps (also available on the Company’s website).
Table l Gold equivalent composite values from five Goldstorm Zone holes and three PSZ drill holes.
|
Section |
HOLE |
Horizon |
From |
To |
Interval (m) |
Au (gpt) |
Ag (gpt) |
Cu (ppm) |
AuEq (gpt) |
|
109+00 NE |
GS-20-66 |
300H+CS600 |
6.0 |
529.5 |
523.5 |
0.673 |
1.86 |
425 |
0.758 |
|
109+00 NE |
GS-20-66 |
including 300H |
7.5 |
156.5 |
149.0 |
0.941 |
3.29 |
190 |
1.008 |
|
109+00 NE |
GS-20-66 |
including CS-600 |
454.5 |
529.5 |
75.0 |
2.075 |
1.87 |
352 |
2.150 |
|
109+00 NE |
GS-20-68 |
300 |
4.85 |
798.0 |
793.15 |
0.521 |
1.73 |
127 |
0.561 |
|
109+00 NE |
GS-20-68 |
including 300H |
4.85 |
62.0 |
57.15 |
1.026 |
1.11 |
60 |
1.048 |
|
109+00 NE |
GS-20-68 |
& including 300H |
221.0 |
536.0 |
315.0 |
0.744 |
1.82 |
135 |
0.785 |
|
109+00 NE |
GS-20-72 |
300H |
4.5 |
730.5 |
726.0 |
0.475 |
1.53 |
97 |
0.507 |
|
110+00 NE |
GS-20-73 |
330H |
29.0 |
804.5 |
775.5 |
0.842 |
5.47 |
160 |
0.932 |
|
110+00 NE |
GS-20-73 |
or 330H |
29.0 |
978.5 |
949.5 |
0.749 |
4.67 |
152 |
0.828 |
|
110+00 NE |
GS-20-73 |
including |
29.0 |
80.0 |
51.0 |
1.276 |
6.52 |
168 |
1.379 |
|
110+00 NE |
GS-20-73 |
& including |
519.5 |
749.0 |
229.5 |
1.338 |
11.94 |
170 |
1.506 |
|
114+00 NE |
GS-20-67 |
300H |
62.0 |
68.0 |
6.0 |
1.799 |
0.88 |
100 |
1.824 |
|
114+00 NE |
GS-20-67 |
and 300H |
126.5 |
908.0 |
781.5 |
0.486 |
2.99 |
238 |
0.557 |
|
114+00 NE |
GS-20-67 |
including 300H |
321.5 |
591.5 |
270.0 |
0.618 |
5.20 |
492 |
0.754 |
|
114+00 NE |
GS-20-67 |
and 300 |
1325.0 |
1340.0 |
15.0 |
0.860 |
1.64 |
175 |
0.905 |
|
89+00 NE |
PS-20-01 |
Main |
240.0 |
373.5 |
133.5 |
0.483 |
2.75 |
527 |
0.594 |
|
89+00 NE |
PS-20-01 |
including |
240.0 |
320.5 |
80.5 |
0.573 |
4.11 |
775 |
0.737 |
|
89+00 NE |
PS-20-02 |
Main |
265.5 |
416.5 |
151.0 |
0.514 |
3.16 |
469 |
0.621 |
|
89+00 NE |
PS-20-02 |
including |
300.5 |
350 |
49.5 |
0.781 |
6.71 |
648 |
0.957 |
|
86+00 NE |
PS-20-03 |
Main |
152.0 |
372.5 |
220.5 |
0.293 |
1.78 |
591 |
0.402 |
|
86+00 NE |
PS-20-03 |
including Upper |
152.0 |
171.5 |
19.5 |
0.885 |
0.82 |
160 |
0.919 |
|
86+00 NE |
PS-20-03 |
including Lower |
348.5 |
371 |
22.5 |
0.846 |
3.73 |
340 |
0.942 |
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– 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 $1322/oz, Ag: $15.91/oz, Cu: $2.86/lb. Calculations used the formula Au Eq g/t = (Au g/t) + (Ag g/t x 0.012) + (Cu% x 1.4835). 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 lI Drill Hole Data
Click Image To View Full Size
Walter Storm, President and CEO of Tudor Gold, stated: “We are delighted to see continued success from the Treaty Creek drill program. Not only are we getting excellent results from all the drill holes completed this year, we have also discovered a new mineralized system at Perfectstorm. This demonstrates the remarkable potential that our flagship property holds. However, we must now focus all our exploration efforts on completing the drilling at Goldstorm. We intend to continue our 150 meter step-outs to the northeast on Section 115+50 NE as well as expand the drilling to the southeast and northwest along Sections 110+00 NE, 111+00 NE, 112+50 NE and 114+00 NE. The Goldstorm System remains open in all directions and at depth.”
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.
Qualified Person
The Qualified Person for this news release for the purposes of National Instrument 43-101 is Tudor Gold’s Vice President Project Development, Ken Konkin, P.Geo. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release. Dino Cremonese, P. Eng., is the Qualfied Person for Teuton Resources and as President is not independent of the Company. He has not verified the technical information in this release but 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. Ten of these properties are currently under option to third parties. Over $4 million in option cash and share payments 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.
Figures Accompanying News Release
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: [email protected]
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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