Teuton Resources Corp.: Report on Treaty Creek Property Calls for Drilling Along Proposed Twin Tunnels Route
February 24 2014 - 8:30AM
Marketwired
Teuton Resources Corp.: Report on Treaty Creek Property Calls for
Drilling Along Proposed Twin Tunnels Route
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 24, 2014) -
Teuton Resources Corp. ("Teuton")
(TSX-VENTURE:TUO)(FRANKFURT:TFE)(OTCBB:TEUTF) has commissioned a
geological assessment of the Treaty Creek property by E.
Kruchkowki, P. Geo. This report is now complete and will be
presented to the British Columbia government as part of the
Company's submission in regard to Seabridge Gold's proposed
construction of twin tunnels through the Treaty Creek property. The
tunnels are estimated to be 22.8km long connecting Seabridge Gold's
KSM property to their proposed millsite. Of this length,
approximately 12.2km will pass through the Treaty Creek
property.
Mr. Kruchkowski's report
details historical work on the Treaty Creek property and also
incorporates recent geoscientific investigations on the property
and areas to the south by the BC Geological Survey. These
investigations include Paper 2014-1, pp 111-140, by J. Nelson and
J. Kyba, entitled "Structural and stratigraphic control of
porphyry and related mineralization in the Treaty Glacier - KSM -
Brucejack - Stewart trend of western Stikinia". Nelson and
Kyba state that: "The Treaty Glacier-KSM-Brucejack-Stewart trend is
one of the most productive and promising in northwestern British
Columbia".
Mr. Kruchkowski, P. Geo., has
worked extensively in the Sulphurets-Mitchell valleys as well as
Treaty Creek valley. He was involved in the geochemical program
that identified the Sulphurets, Snowfield and Iron Cap zones during
surveys in the early 1970's (on ground now owned by Seabridge Gold
and Pretium Resources). He also located the first gold showings at
Brucejack Lake and staked the claims that now host numerous gold
deposits. He worked on the Iron Cap Gold zone in 1980 and
supervised drilling on the Snowfield zone in 2007. Mr. Kruchkowski,
P.Geo., was responsible for the discovery of the Mitchell East zone
(Cu-Au) which appears to be the northern extension of the Snowfield
zone. He also supervised several work programs on the Treaty Creek
property itself, including two drill programs.
Excerpts from the Kruchkowski
report follow: "Based on government mapping, the porphyry
copper-gold and gold deposits south of the Treaty Creek Property
occur in rocks below a major structural feature called the
Sulphurets Thrust Fault. This major structural feature trends
across the southeast edge of the Treaty Creek claims. As a result,
the geology in the northern and northwest portion of the claims
below the thrust fault is unknown but may host deposits similar to
those found immediately south of the property.
"A twin tunnel called the
Mitchell Treaty Tunnel (MTT) has been proposed across some of the
Treaty Creek Tenures held by Teuton Resources Corp. The portion on
the Teuton Resource Corp claims would be 12.2 km long. The MTT
alignment within the Treaty property tenures is approximately
underlain by one half Hazelton and Stuhini Group volcanic rocks
(southwest portion) and Bowser Group sediments (northeast portion).
The geology and mineral occurrences in the southwest portion have
affinities to mineralization occurring at the Kerr - Sulphurets -
Mitchell - Iron Cap, Snowfield and Brucejack Lake zone areas,
approximately 5-10 km to the south- southwest.
"In 2012, a magnetotelluric
survey was conducted along the trace of the proposed MTT route. A
total of 16 stations roughly 500 metres apart were surveyed over an
8 kilometre length. Results indicate the start of a large
resistivity low trending to the south in the area of the Konkin
Gold zone towards the Iron Cap copper-gold zone on the adjacent
claims. The magnetotelluric survey was terminated at this location
and 2 kilometres of Teuton tenures between the Konkin Zone and
potential extension of the Iron Cap zone remain un-surveyed.
"The area below the Sulphurets
Thrust fault remains unexplored at Treaty Creek. Potential for
discovery of additional zones of alteration or mineralization along
the MTT below the Sulphurets Trust is considered excellent. It is
inconceivable that 13 kilometres of porphyry mineralization along
the McTagg anticlinorium abruptly terminates at the claim boundary
between the trend of the Kerr- Sulphurets-Mitchell-Iron Cap zones
and the Treaty Creek claim boundary."
Mr.Kruchkowski, P.Geo.,
recommends that the magnetotelluric survey be completed along the
entire MTT route on the Treaty Creek tenures. He also recommends
that drill holes 250 metres apart along the 6.1 kilometres of
volcanic rocks on the MTT trend be completed, with holes at least
750 - 1000 metres in depth. All drill core recovered should be
assayed.
The Treaty Creek property is
currently the object of litigation between Teuton and its former
optionee, American Creek Resources. American Creek is seeking among
other things a declaration from the Court that it has earned a 51%
interest in the property; Teuton is seeking a declaration that
American Creek has forfeited all right and interest in and to the
Treaty Creek property. Should Teuton be successful in its arguments
it will have a 100% interest in Treaty Creek; if unsuccessful, a
49% interest.
The Qualified Person for the
purposes of this news release is D. Cremonese, P.Eng., who, as
President and CEO, is not independent of the Company. Mr. Cremonese
has not independently verified all of the geological information in
Mr. Kruchkowski's report, but believes it to be accurate and in
conformance with industry standards.
Respectfully:
Dino Cremonese,
P.Eng., President, Teuton Resources Corp.
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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.
Teuton Resources Corp.202-2187 Oak Bay AvenueVictoria, BC V8R
1G1(604) 682-3680 / Toll Free: 1-800-879-2333(604)
682-3992www.teuton.com
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