Teuton Resources Reports 337.5m of 0.76 g/t Gold at Treaty Creek, Including 124.5m of 0.98 g/t Gold
January 24 2018 - 8:30AM
Teuton Resources Corp. (“Teuton” or “the
Company”) (TSX-V:TUO) (Frankfurt:TUC) 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.
The TSX Venture Exchange has neither approved nor
disapproved the information contained herein.
Teuton Resources (TSXV:TUO)
Historical Stock Chart
From Oct 2024 to Nov 2024
Teuton Resources (TSXV:TUO)
Historical Stock Chart
From Nov 2023 to Nov 2024