02:04:59 EDT Fri 29 Mar 2024
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Teuton Resources Corp (2)
Symbol TUO
Shares Issued 46,816,881
Close 2020-07-27 C$ 2.75
Market Cap C$ 128,746,423
Recent Sedar Documents

Teuton's JV partner drills 348 m of 2.12 g/t AuEq

2020-07-27 13:39 ET - News Release

Mr. Dino Cremonese reports

TEUTON REPORTS NEAR-SURFACE INTERCEPT AT TREATY CREEK PROPERTY AVERAGING 2.120 GPT AUEQ OVER 348 METERS WITHIN 930 METERS AVERAGING 1.161 GPT AUEQ IN HOLE GS-20-65; STEP-OUT DRILLING FURTHER EXTENDS THE GOLDSTORM SYSTEM BY ANOTHER 150M TO THE NORTHEAST WITH HOLE GS-20-64 INTERSECTING 1.482 GPT AUEQ OVER 154.5 METERS WITHIN 550.55 METERS INTERCEPT AVERAGING 0.983 GPT AUEQ

Teuton Resources Corp. has received a report from its joint venture partner, Tudor Gold, containing results from the second set of holes drilled in 2020 at the Treaty Creek property, located in the Golden Triangle of northwest British Columbia.

Tudor Gold says that diamond drilling is progressing very well on the Goldstorm zone, which is on trend from Seabridge Gold's KSM project (located five kilometres southwest of the Goldstorm system). As well, a total of five drills have now been mobilized to the project with a sixth expected to arrive shortly. Tudor Gold intends to double the diamond drill hole program from the original plan of 20,000 metres to at least 40,000 m of drilling for 2020. Tudor Gold is fully financed to complete this aggressive drill hole program.

The preliminary drilling this season has yet to delineate the limits of the Goldstorm system as it remains open in all directions and to depth. It will require all six drills to complete the planned 2020 exploration program for the Goldstorm gold-copper-silver system.

Tudor Gold's vice-president of project development, Ken Konkin, PGeo, states: "For the second time this month, we are very pleased to have bettered the results obtained earlier from GS-20-57, which has an enriched interval that averages 1.4 g/t AuEq over 217.5 m (544.5 to 762 m) within an overall composite average of 0.845 g/t AuEq over 973.05 m (34.5 to 1077.55 m). Hole GS-20-65 was designed as a 100 m undercut to drill hole GS-20-57. The result was a remarkable 348 m intercept of 2.12 g/t AuEq within a larger 930 m intercept of 1.161 g/t AuEq in drill hole GS-20-65. More drilling will be required in this central region in order to better define these higher-grade metal plumes that we believe occur throughout the Goldstorm system. There were three results over 15 g/t Au that occurred within GS-20-65. These include: 19.7 g/t Au over 1.5 m (145.5 to 147 m), 22.5 g/t Au over 1.5 m (310.5 to 312 m) and 34.2 g/t Au over one m (921 to 922 m). The focus for the rest of this summer will be to complete the exploration drilling to the limits of the known mineralization along the northeastern axis. We have begun drilling on Pad 8, which is a 150 m north-easterly step out from hole GS-20-47, which was the best intercept generated in 2019 where we obtained an intercept of 0.697 g/t AuEq over 1,081.5 m. That hole stopped in mineralization as it was the limit of the drill's capacity. This year, all six drills have modified heads to complete drill holes in excess of 1,800 m depths. However, we anticipate that our longest holes for 2020 will be approximately 1,400 m long."

Mr. Konkin adds: "One of the most impressive aspects of the Goldstorm system is the consistent strength of the mineralization. Drill hole GS-20-64 was a steep-angled 150 m stepout hole drilled to the northeast beyond the trace of the DS-5 intercept. This exploration hole targeted the extension of a very robust stockwork system that was intersected at the bottom of drill hole GS-19-47, 0.996 g/t AuEq over 243 m (933.5 to 1,176.5 m). The intercept ended in mineralization at 1,199 m. The same DS-5 zone was intersected in GS-20-64 that doubled the intercept length from 243 m to over 550 m averaging 0.983 g/t AuEq (648.4 to 1,198.95 m), which is extremely consistent with the results obtained in GS-19-47. An enriched, upper portion of the stockwork system yielded 1.482 g/t AuEq over 154.5 m (771.5 to 926.0 m). We are currently redrilling drill hole GS-19-47 as the system may be much larger than originally thought given the results obtained from the 150 m northeast stepout hole GS-20-64. The target is to drill through the entire stockwork profile that was discovered in 2019."

The included table provides the complete list of drill hole results.

Walter Storm, president and chief executive officer of Tudor Gold, stated: "Our technical team continues to explore several fronts of the target while obtaining excellent results, and we continue to significantly expand the size of Goldstorm system. The northeast-trending axis of the mineralized body of Goldstorm now exceeds a kilometre in length, and we have yet to find the limit of the mineralization to the northeast and to depth. It was necessary to intensify our efforts by doubling our program to 40,000 m and utilizing more drill rigs. We are very happy to announce the approval of our new work permit that allows us to expand drilling at Goldstorm as well as drill other zones. Tudor Gold's construction crews are planning on building a lower drill camp that will add several months to the exploration season. We are now able to build operational trails to gain overland access to the zones from the current camp and from the proposed lower camp at the toe of Treaty Glacier."

Quality assurance/quality control

Drill core samples were prepared at MSA Labs' preparation laboratory in Terrace, B.C., and assayed at MSA Labs' geochemical laboratory in Langley, B.C. 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 of project development, Mr. Konkin, PGeo. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release. Dino Cremonese, PEng, 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 Resources Corp.

Teuton owns interests in more than 30 properties in the prolific Golden Triangle area of northwest B.C. and was one of the first companies to adopt what has since become known as the prospect generator model. Seven 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.

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