VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug 13, 2014) - Silver Grail Resources Ltd. ("Silver Grail) (TSX VENTURE:SVG) and Teuton Resources Corp. ("Teuton") (TSX VENTURE:TUO)(TFE.F)(TEUTF) are pleased to announce that 2014 reconnaissance sampling has begun on its Gold Mountain and Ram properties (see accompanying map), adjoining to the south of the Red Mountain gold property of IDM Mining, about 20km east of Stewart, British Columbia in the southern half of the Golden Triangle.
The companies plan to carry out prospecting particularly around zones of ablation (glacial meltback). The last time the claims were prospected was in the 1990's. Much new ground is expected to have opened up in the interim.
On the Gold Mountain property previous work disclosed a 650 by 1,000 foot zone of pervasive quartz calcite veinlets, carrying gold values ranging from a few ppb up to 0.632 oz/ton. On the Ram property, prospecting has led to the discovery of several mineralized occurrences. These include hydrozincite-stained limetstone/dolomite horizons, argentiferous quartz veins, shears with minor sulphides, and a pyritic and chert horizon containing sporadic galena and sphalerite/hydrozincite. The geological setting on the Ram is prospective for BA-type mineralization, of the kind exposed on the BA property of Great Bear/Mountain Boy minerals to the north (where $5 million of exploration has disclosed an extensive silver and base metal bearing exhalative horizon).
Prospecting is also planned for the nearby jointly-owned Konkin Silver and Fiji claims. On the Konkin Silver property several silver-bearing structures have been discovered in an exhalative horizon. One of these, the main Konkin Silver showing, returned trench results ranging from 14.8 ft. grading 2.53 oz/silver per ton to 29.5 ft. grading 34.94 oz. silver per ton. Native silver was observed in certain of the trench samples. There are some affinities with the formerly producing Torbrit silver mine located to the southwest.
On the Fiji, located to the northwest of the Homestake property now being explored by Agnico Eagle, previous work in 2006 led to the discovery of two mineralized zones. Five out of sixteen samples from the zones returned gold values ranging from 0.327 to 1.27 oz/ton gold. One of the zones features fracture-controlled pyrite mineralization in what appears to be a highly altered intrusive. The second zone, in an area exposed by meltback of a snowfield, features sphalerite, galena, tetrahedrite, pyrite and barite mineralization hosted in altered volcanic rocks.
Work in the area has been spurred by IDM Mining's recent purchase of the nearby Red Mountain gold property from Seabridge Gold. IDM is aiming at placing Red Mountain into production possibly as early as 2016, which will materially enhance infrastructure in the region.
More information on the companies' properties can be obtained from their respective websites. The Silver Grail website at www.silvergrail.com has recently been updated. Teuton's website is at www.teuton.com.
To view the map accompanying this press release please click on the following link: http://media3.marketwire.com/docs/SVG0813.pdf
The Qualified Person for the purposes of this news release is D. Cremonese, P.Eng. Mr. Cremonese, P.Eng., is not independent of the Company.
Respectfully:
Dino Cremonese, P.Eng.,
| President, |
| Silver Grail Resources Ltd. |
| Teuton Resources Corp. |
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This news release includes certain forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. Silver Grail Resources Ltd. and Teuton Resources Corp. do have an ongoing obligation to disclose material information, as it becomes available.
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