Teuton Resources Corp. Announces Corporate Update
October 08 2013 - 12:43PM
Marketwired Canada
Teuton Resources Corp. ("Teuton") (TSX VENTURE:TUO) (FRANKFURT:TFE)
(OTCBB:TEUTF) is pleased to provide the following corporate update of its
activities.
Tennyson Property-The 2013 field season is now complete. Approximately 6,700
metres were drilled in 16 holes across three potentially related targets. Assays
are expected in six weeks.
The program was operated by Brigade Resources at a budget of up to $4 million.
In September of 2013, Teuton sold its remaining interest in the property to
Brigade for $7 million, being $500,000 plus $6,500,000 subscription receipts of
Brigade stock (about 29% of Brigade).
The Tennyson property is located 50km north of Stewart, BC (Golden Triangle
region) and hosts porphyry copper-gold targets.
High Property-Assays from a five hole, 2013 program are awaited. The High
property adjoins directly south of the Brucejack property of Pretium Resources
and KSM property of Seabridge Gold, with the common boundary situated 65km north
of Stewart, BC. Drilling in 2012 of a single hole into the King Tut zone on the
High successfully returned an interval running 222m of 0.88g/t gold.
Reconnaissance sampling of the UH zone on the High in 2013 returned ten grab
samples ranging from 0.140 to 1.835 oz/ton gold.
Yellow Chris Property-Minor follow-up soil sampling was completed around a spot
high of 1,002 ppm copper (previously reported), located on one of the Company's
unoptioned blocks of Yellow Chris claims, situated east of Colorado Resources'
North ROK copper-gold discovery in the Red Chris mine region. The top five
surrounding soil geochem samples reported values of 511, 645, 790, 817 and 959
ppm copper, confirming the original discovery. Further detailed soil sampling is
scheduled to be followed by an IP survey.
Treaty Creek Trial-The trial of S.C.B.C., Vancouver Registry, Action No.
S107895, American Creek Resources Ltd., Plaintiff and Teuton Resources Corp.,
Defendant concluded Thursday, October 3, 2013. The trial Judge has reserved his
decision for an indeterminate time. When the decision of the trial Judge is
released Teuton will make the result public.
The Qualified Person for the purposes of this news release was D. Cremonese,
P.Eng. All reported samples were analysed by Pioneer Labs, an accredited
facility, in Richmond, BC.
In the next two weeks, various GoPro videos will be placed on the Company
website at www.teuton.com. These include videos of the High property, the Treaty
Creek property, the Four J's property and the Yellow Chris claims. Footage of
adjoining properties will also be presented.
Respectfully:
Dino Cremonese, P.Eng., President, Teuton Resources Corp.
If you would like to be added to Teuton's news distribution list, please send
your email address to gary.teuton@shawlink.ca.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Teuton Resources Corp.
(604) 682-3680
Toll Free: 1-800-879-2333
682-3992 (FAX)
www.teuton.com
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