VANCOUVER, British Columbia, Dec. 14, 2017 (GLOBE NEWSWIRE) --
Teuton Resources Corp. (“Teuton” or “the Company”) (TUO.V) (TUC.F) is pleased to report an excellent intersection of gold mineralization on the Treaty Creek property, situated north of the KSM property of Seabridge Gold and the Brucejack property of Pretium Resources in the Golden Triangle region of northwestern British Columbia. Teuton holds a 20% carried interest in the property (carried until a production decision is made) as well as various NSR interests. Tudor Gold Corp. is the Operator.
CB-17-24, a step-out hole drilled this year on the Copper Belle zone, intersected various mineralized zones where the most significant was 115.50 meters of continuous mineralization grading 1.31 g/tonne gold from 60.50 to 176.00 meters depth, including a higher grade intercept of 57m grading 1.97 g/t gold from 111.5 to 168.5m. A second interval occurs deeper in the hole, grading 0.83 g/t over 60m, from 228.5 to 268.50m. Hole CB-17-24 was collared above the ice 166 meters south of CB-16-03. Complete results are pending for the remaining 22 holes.
Drill results for hole CB-17-24 are summarized in the table below:
| Hole-ID | From (m) | To (m) | Interval (m)* | Cu (%) | Ag (g/t) | Au (g/t) |
| CB-17-24 | 60.50 | 176.00 | 115.50 | 0.022 | 4.4 | 1.31 |
| including | 111.50 | 168.50 | 57.00 | 0.025 | 7.3 | 1.97 |
| including | 125.00 | 164.00 | 39.00 | 0.026 | 8.3 | 2.38 |
| | 228.50 | 288.50 | 60.00 | 0.021 | 5.5 | 0.83 |
| | 435.50 | 486.50 | 51.00 | 0.008 | 1.8 | 0.609 |
| including | 483.50 | 486.50 | 3.00 | 0.001 | 14.0 | 5.675 |
| | 665.00 | 690.50 | 25.50 | 0.301 | 2.1 | 0.18 |
*True widths of the mineralization have not been determined.
The Copper Belle resource delineation drill program was completed with 27 holes to depths below 700 meters and with step outs of 50 meters where topography permitted. Over 13,722 meters of drilling was completed on the Copper Belle zone in 2017.
Walter Storm, President and CEO of Tudor Gold, stated: “We are learning a great deal with each assayed hole at Copper Belle and are delighted to report long intercepts of mineralization as we move towards Seabridge’s Iron Cap Deposit. It is worthwhile to note that deeper into the mineralized system we are seeing more silver and copper. The next 22 holes still in the assay laboratory are expected to divulge the overall size and continuity of mineralization and should provide enough data to produce a resource estimate at Copper Belle.”
Results from additional drill holes of the 2017 drill program at Copper Belle are still pending. Drill holes targeted the mineralized zone on Copper Belle and all holes to date have intersected long intervals of mineralization to depth. Drill holes were targeted oblique to the northwesterly plunge of the main mineralized zone. The drill program was designed for 50 meter step-outs across the mineralized zone to create a block of delineated mineralization for a preliminary resource estimate. All drill holes were down hole surveyed at 25 m stations using a Reflex Multi-shot device.
Tudor Gold’s 2016 Magnetotelluric Geophysical Survey program (MT Survey) was effectively utilized as a guide for the drill program. The MT Survey suggests that the mineralization continues to the south, toward the Iron Cap deposit of Seabridge Gold Inc. The MT Survey also suggests that the mineralized zone continues in all directions. Tudor Gold’s 2017 drill program was located five kilometers north of the Iron Cap deposit and the Company intends to step out to the south in its 2018 program to see if it can determine a relationship between the two areas.
A URL for the location map of the Copper Belle zone is presented at the end of this news release.
Teuton Resources reports high-grade gold and silver mineralization on GR2/HC Zone of Treaty Creek Property, including 1,118.35 Silver g/t over 2.85m (HC-17-09)
Teuton Resources is pleased to announce that drilling into the HC zone on the Treaty Creek property continues to intersect polymetallic mineralization with high-grade gold and silver values.
In 2017, 5,401 metres were drilled into the HC zone in 17 holes. Work to date has established that the HC zone is the strike extension (to the north) of the GR2 zone which was drilled in 2007 and 2009. The combined GR2/HC system now has been tested by 36 holes covering an area approximately 400m along strike and 450m down dip at 50m space increments. The GR2/HC zone is a separate target from the Copper Belle, a bulk tonnage porphyry gold zone located at lower elevations east of the GR2/HC.
Drill results for the final HC holes of the year can be seen at the end of this release in Table 2 (all distance measurements reported in metres).
The GR2/HC zone appears to be a gold-rich VHMS deposit consisting of a feeder vein system and stratabound lenses, overprinted in places by a later silver-rich (Pb-Zn-Sb-Cu) veins. These veins are late in the formation and are hosted in the volcaniclastic sequence or in the younger Jurassic Hazelton sequence, crosscutting (and reactivating) previous mineralization. The RR silver-base metal vein holes are collared 800m north of the HC zone, and are believed to be part of the same structure or a related parallel structure.
Historical surface sampling carried out by previous operators to both the north and south of the GR2/HC zone indicates that the main mineralized structure may potentially extend for 3,000m along strike. The mineralized structure remains open to the north and south beyond the existing drill holes, and down dip.
One of these historical areas, the AW, lies 1.7km to the south of the GR2/HC zone, and in the same stratigraphic setting. Surface sampling and trenching conducted prior to 1994 in mineralized occurrences similar to those observed in the GR2/HC zone, reported many high-grade gold and silver values with significant base metal credits. Values in sludge recovered from Hole TC-91-3, drilled in 1991, gave a weighted average of 5.45 g/t gold, 238 g/t silver, 1.37% copper, 4.45% lead, and 0.55% zinc over 4.7 metres. Recent extensive ablation of glacial snow and ice in the area has made the zone much more accessible.
The property was visited in 1993 by Dr. Ted Grove, P.Eng., author of BC government publication, Bulletin 58, Geology and Mineral Deposits of the Stewart Area, British Columbia. In a private report he wrote for Teuton Resources (1994) he said of the AW zone: “The indications on the basis of grades, widespread mineralization, diverse host rocks and alteration suggest the possibility of a major deposit.”
QA/QC
Drill hole samples were assayed by Activation Laboratories Ltd. in Kamloops, 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. Activation Laboratories quality system complies with the requirements for the International Standards ISO 17025: 2005.
The main technical data in this news release was reviewed by James McCrea, P.Geo., Tudor Gold’s geologist in charge of the Copper Belle program, and by Raul Sanabria, Tudor Gold’s geologist in charge of the GR2/HC program (for the purposes of National Instrument 43-101). The Qualified Person for this news release is Dino Cremonese, P.Eng., who as President of Teuton is not independent of the Company. Mr. Cremonese has not verified the accuracy of the technical data but believes that it is reliable.
About Teuton
Teuton owns interests in more than thirty properties in the prolific “Golden Triangle” area of northwestern British Columbia and was one of the first companies to adopt what has since become known as the “prospect generator” model. Ten of its properties are currently under option and cash proceeds from these options have exceeded $1.45 million in the past two years, not including the value of shares received from the optioning companies. Shareholders and other interested parties can access information about Teuton at the Company’s website, www.teuton.com.
Respectfully:
“Dino Cremonese, P.Eng.”
President, Teuton Resources Corp.
A location map for both the Copper Belle and GR2/HC zones can be found at: http://teuton.com/wp-content/uploads/2017/12/treatycopperbellegr2dec.pdf
For more information contact Investor Relations at 778-430-5680 or barry@teuton.com. If you would like to be added to Teuton’s news distribution list, please send your email address to dino@teuton.com
| | |
| Table 2---HC Zone Drill Results | |
| | |
| HC Zone | |
| Hole | From | To | Interval* | Au g/t | Ag g/t | |
| HC-17-09 | 79.05 | 81.05 | 2 | 12.21 | | |
| HC-17-11 | 221.15 | 230 | 9.7 | 4.89 | | |
| HC-17-13 | 306.7 | 316.1 | 9.4 | 4.25 | | |
| HC-17-15 | 290.7 | 291.4 | 0.7 | 7.86 | 21.1 | |
| and | 298.6 | 300.1 | 1.5 | 4.03 | | |
| HC-17-16 | 306.9 | 307.4 | 0.5 | 1.28 | | |
| and | 307.4 | 308.3 | 0.9 | 6.77 | | |
| | | | | | | |
| HC Feeder Veins |
| Hole | From | To | Interval* | Au g/t | Ag g/t | AuEq**
(g/t) |
| HC-17-10 | 274.8 | 275.6 | 0.8 | 6.42 | 5.136 | |
| and | 275.6 | 276.3 | 0.7 | 4.05 | 2.835 | |
| HC-17-11 | 181.35 | 182.75 | 1.4 | 10.44 | | 15.96 |
| including | 181.35 | 182.25 | 0.9 | 11.8 | 31.2 | |
| and | 182.25 | 182.75 | 0.5 | 7.99 | 433 | |
| HC-17-17 | 94.95 | 95.85 | 0.9 | 5.7 | | |
| and | 380.6 | 381.75 | 1.15 | 8.17 | | |
| | | | | | | |
| HC Ag-(Base Metal) Veins |
| Hole | From | To | Interval* | Au g/t | Ag g/t | AuEq** (g/t) |
| HC-17-08 | 38.2 | 38.5 | 0.3 | 10.7 | 151 | 12.62 |
| and | 91.55 | 91.8 | 0.25 | 14.5 | 530 | 21.25 |
| and | 98.2 | 98.6 | 0.4 | 5.18 | 6.2 | |
| and | 100.1 | 100.5 | 0.4 | 0.529 | 4730 | 60.81 |
| HC-17-09 | 87.8 | 88.4 | 0.6 | 1.14 | 1190 | 16.31 |
| and | 143.4 | 146.25 | 2.85 | 1.01 | 1118.35 | 15.26 |
| including | 143.4 | 144.05 | 0.65 | 0.552 | 1730 | 14.69 |
| and | 144.05 | 144.65 | 0.6 | 0.082 | 78 | 0.65 |
| and | 144.65 | 146.25 | 1.6 | 1.54 | 1260 | 28.16 |
| HC-17-13 | 206 | 207 | 1 | 1.27 | 647.8 | 9.53 |
| including | 206 | 206.6 | 0.6 | 1.2 | 731 | 10.52 |
| including | 206.6 | 207 | 0.4 | 1.38 | 523 | 8.05 |
| and | 207 | 207.55 | 0.55 | 0.486 | 75.8 | |
| and | 207.55 | 208.2 | 0.65 | 0.381 | 247 | 3.53 |
| and | 208.2 | 208.95 | 0.75 | 0.182 | 79 | |
| and | 208.95 | 209.5 | 0.55 | 0.43 | 314 | 4.43 |
| and | 216.65 | 218.85 | 1.65 | 5.4 | 123.56 | 9.42 |
| including | 216.65 | 217.1 | 0.45 | 3.33 | 132 | 5.01 |
| including | 217.1 | 217.8 | 0.7 | 10.5 | 298 | 14.30 |
| including | 217.8 | 218.3 | 0.5 | 0.746 | 7.7 | 0.84 |
| including | 218.3 | 218.85 | 0.55 | 4.84 | 28.1 | 5.20 |
| HC-17-16 | 100 | 100.95 | 0.95 | 1.39 | 157 | 3.39 |
| and | 205.1 | 205.5 | 0.4 | 0.785 | 425 | 6.20 |
| and | 221.3 | 221.5 | 0.2 | 0.042 | 300 | 3.87 |
| and | 275.3 | 276 | 0.7 | 0.492 | 105 | 1.83 |
| and | 276 | 277 | 1 | 0.498 | 176 | 2.74 |
| HC-17-17 | 222.9 | 223.85 | 0.95 | 2.38 | 122 | 3.93 |
| and | 228.35 | 229 | 0.65 | 0.672 | 68.3 | 1.54 |
| and | 299 | 233.6 | 4.6 | 1.09 | 417.51 | 6.41 |
| including | 229 | 229.45 | 0.45 | 0.58 | 314 | 4.58 |
| including | 229.45 | 230.3 | 0.85 | 1.12 | 864 | 12.13 |
| including | 230.3 | 230.85 | 0.55 | 0.602 | 107 | 1.97 |
| including | 230.85 | 231.2 | 0.35 | 0.637 | 234 | 3.62 |
| including | 231.2 | 231.65 | 0.45 | 0.891 | 14.8 | 1.08 |
| including | 231.65 | 232.4 | 0.75 | 3.11 | 3 | 3.15 |
| including | 232.4 | 233.6 | 1.2 | 0.422 | 746 | 9.93 |
| | | | | | | |
| RR Ag-base Metal Veins | | |
| Hole | From | To | Interval* | Ag g/t | | |
| RR-17-03 | 41.3 | 42 | 0.7 | 119 | | |
| and | 48 | 48.8 | 0.8 | 544 | | |
| and | 57 | 57.6 | 0.6 | 206 | | |
| and | 62 | 63 | 1 | 166 | | |
| RR-17-04 | 6 | 7 | 1 | 399 | | |
| and | 7 | 8 | 1 | 339 | | |
| | | | | | | |
*True thickness of all above mineralized intervals still to be determined.
**AuEq calculated assuming Au USD$1,275/oz and Ag USD$16/oz.
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. Teuton Resources Corp. does have an ongoing obligation to disclose material information, as it becomes available.
The TSX Venture Exchange has neither approved nor disapproved the
information contained herein.