VANCOUVER, British Columbia, Jan. 24, 2018 (GLOBE NEWSWIRE) -- Teuton Resources Corp. (“Teuton” or “the Company”) (TUO.V) (TUC.F) is pleased to report an additional 3 holes from a 27-hole, 2017 drill program on the Copper Belle zone within the Treaty Creek property, situated north of the KSM property of Seabridge Gold 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-17-27, a step-out hole drilled on the Copper Belle zone, intersected various mineralized zones where the most significant was 337.5m of continuous mineralization grading 0.76 g/t gold from 2 to 339.5m depth, including a higher grade intercept of 124.5m grading 0.98 g/t gold from 53.0 to 177.5m. Hole CB-17-27 was a 602m hole that was collared adjacent to the west side of the Treaty glacier where ice ablation (glacier melt-back) has exposed new opportunities for exploration access. Hole CB-17-27 is 81m southeast of CB-16-03 that graded 1.11 g/t Au for 58m from 88 to 146m; and 0.97 g/t Au for 122m from 304 to 426m. Hole CB-16-03 was drilled uphill at a higher elevation.
Drill results for holes CB-17-27, CB-17-28 and CB-17-30 are summarized in the table below:
| | | | | | | | | | | | | |
| Hole-ID | | From (m) | | To (m) | | Interval (m)* | | Au (g/t) | | Ag (g/t) | | Cu (%) |
| CB-17-27 | | 2.00 | | 339.50 | | 337.50 | | 0.76 | | 2.0 | | 0.017 |
| including | | 53.00 | | 177.50 | | 124.50 | | 0.98 | | 3.22 | | 0.023 |
| | | 455.00 | | 494.00 | | 39.00 | | 1.13 | | 2.6 | | 0.063 |
| | | 525.50 | | 536.00 | | 10.50 | | 1.27 | | 2.5 | | 0.067 |
| CB-17-28 | | 138.70 | | 155.40 | | 16.70 | | 1.05 | | 5.5 | | 0.019 |
| | | 175.20 | | 225.50 | | 50.30 | | 0.74 | | 1.0 | | 0.003 |
| | | 332.30 | | 384.00 | | 51.70 | | 0.65 | | 4.4 | | 0.003 |
| CB-17-29 | | Results Pending; Drilled from same pad as hole 24 |
| CB-17-30 | | 256.50 | | 306.00 | | 49.50 | | 0.69 | | 2.0 | | 0.003 |
| | | 312.00 | | 321.00 | | 9.00 | | 0.42 | | 1.6 | | 0.101 |
*True widths of mineralization have not been determined.
Walter Storm, President and CEO, stated: “As we analyze Treaty Creek from an overview perspective we find a very compelling image: Our discoveries, as expected, are closely related to the now-famous "Red Line" (Triassic/Jurassic contact), as predicted in the seminal research report by British Columbia government geologists Kyba and Nelson. The Sulphurets Fault (coincident with the Red Line), weaves its way for over 20km from the southern end where the Kerr, Kerr Deep and Valley of the Kings deposits are located, winding its way northward through the Sulphurets, Mitchell, Snowfields, Iron Cap and Iron Cap Deep discoveries before crossing into Treaty Creek and up to the Copper Belle and GR2 zones. As observed in the Kyba/Nelson research report, major discoveries lie generally within 2km of the Red Line and that is the case with all these deposits. Tudor has a 3km unexplored gap between the Copper Belle discovery and the Seabridge Gold's Iron Cap deposit, in which our MagnetoTelluric Geophysics survey identifies strong anomalous targets that have not yet been drilled. Results from Tudor Gold's drilling in 2017 show that in the Copper Bell zone, gold mineralization is expanding northward and eastward with improving grades, increasing copper and silver credits, not to mention other promising areas within the zone like Hole CB-17-26 which returned 149.1m of 1.78 g/t gold.
“This prolific hydrothermal system which hosts the many gold deposits of Seabridge Gold and Pretium Resources, as well as the nascent gold mineralization currently being drilled on Tudor Gold's Treaty Creek property, is known as one of the seven largest hydrothermal systems in the world for hosting porphyry-type mineral deposits of gold and copper-gold (Alldrick). Moreover, Seabridge Gold's KSM property is currently recognized as hosting the world’s largest undeveloped reserves of copper and gold. In close proximity to these reserves are Pretium Resources' very large, porphyry gold Snowfields deposit and its high-grade, Valley of the Kings gold mine, the latter recently having entered into commercial production. This is an excellent area in which to be looking for another "elephant" and early indications are that mineralization continues onto the Treaty property, right past an arbitrary line called a 'claim boundary.'"
Tudor Gold’s 2016 Magnetotelluric Geophysical Survey program (MT Survey) was effectively utilized as a guide for the 2017 drill program. The MT Survey suggests that the mineralization continues to the southwest, toward the Iron Cap deposit of Seabridge Gold Inc. The MT Survey also suggests that the mineralized zone is open along strike and to depth. Tudor Gold’s 2017 drill program was located five kilometers north of Seabridge Gold’s Iron Cap deposit and Tudor Gold intends to step out to the south in its 2018 program to see if it confirms a relationship between the two areas.
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.
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. Eleven 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.
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
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.
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