Major Drill Program at Treaty Creek in 2017
June 26 2017 - 1:00PM
Teuton Resources Corp. (“Teuton”)
(TSX-V:TUO) (Frankfurt:TFE) (OTCBB:TEUTF)
is
pleased to announce that a major drill program is set to begin on
the Treaty Creek joint venture property, located 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. (60% interest) is the operator and
American Creek Resources also holds a 20% carried interest.
The drill program will attempt to establish a
resource in the Copper Belle zone by drilling at 50m centres
adjacent to previous holes put down in 2007, 2009 and 2016.
Last year, Hole CB16-03, an 800m stepout from a 2009 hole with an
intersection grading 241m of 0.80 g/t gold, returned an interval
grading 338m averaging 0.70 g/t gold with a sub-interval running
122m of 0.965 g/t gold (more details are available in the News
Release dated Oct. 26, 2016). The 2017 drilling is being guided by
a magnetotelluric survey which was carried out in 2016. Additional
drilling will also be carried out on the GR2 zone, a precious
metal-rich, massive sulfide target. Illustrations of the target
areas are available in the URLs presented at the end of this news
release.
Regional Developments
The Treaty Glacier-KSM-Brucejack-Stewart trend
has been characterized as “one of the most productive and promising
in northwestern British Columbia”. Among the many mineral
occurrences found in the region, the most important to date is the
Valley of the Kings mine, an 8.1 million ounce gold deposit owned
by Pretium Resources (proven and probable reserves of 15.6 million
tonnes of 16.1 g/t gold). After spending $1 Billion putting
the mine into production, Pretium announced on June 20, 2017 that
the first gold brick had been poured.
Due west of Pretium’s property and adjoining
southwest of the Treaty Creek property, Seabridge Gold’s KSM
property presently holds four large deposits, the Mitchell, Kerr,
Sulphurets and Iron Cap. These collectively have proven and
probable reserves in excess of 38.8 million ounces of gold and
10.155 billion pounds of copper (as reported on the Seabridge Gold
website citing its “most recent National Instrument 43-101
compliant estimates”- February 2017). The above metal quantities
are contained within 2.198 billion tonnes of rock grading 0.55 g/t
gold and 0.21% copper. Note that Teuton’s Qualified Person has been
unable to verify the information on deposits within Seabridge
Gold's KSM property and Pretium’s Brucejack-Snowfield property and
the information is not necessarily indicative of the mineralization
on the Treaty Creek property.
On June 27, 2017, Seabridge Gold announced an
8,750m drill program with immediate mobilization to follow-up a
deep discovery made 500m north of the Iron Cap deposit in
2016. A 60.7m interval beginning at 201m averaged 1.20 g/t
gold and 0.95% Cu, among the highest grades achieved in the
porphyries at KSM to date. The Iron Cap deposit and its new
northern discovery remain open to the north, east and west.
Its current easternmost limit lies only 800m from the Treaty Creek
property.
Jeff Kyba, formerly Northwest Regional geologist
for the BC government, has a theory postulating important factors
for finding large-scale mineral deposits: these include
proximity to a “red-line” (geological contact between Triassic and
Stuhini age rocks) and certain key faults. The Sulphurets
thrust fault, in particular, appears to be critical, as it is
spatially related to all of the deposits on the KSM property.
Kyba has said, “…. all the prospective structures bounding these
old basins were slippery because of the alteration associated with
the porphyries. So they were the first to fail, and became
reactivated as younger, prominent thrust faults.” [Excerpted from
May 6, 2015 Northern Miner]. Significantly, the Sulphurets
thrust fault turns northeastward into the Treaty Creek property
from the KSM property, continuing onwards for several kilometres
(see map).
Dino Cremonese, P.Eng., president of Teuton
Resources, commented as follows: “The news that Pretium’s Valley of
the Kings has poured its first gold, that Seabridge Gold is going
to continue exploring its prolific KSM property and that Tudor Gold
will attempt to drill off a resource in 2017 at Treaty Creek is
very encouraging and suggests that work in this promising region is
beginning to enter a more mature phase. There are many other
positive developments this year, both locally in the Treaty-Stewart
trend and elsewhere in the Golden Triangle, of which exploration at
Ascot’s Premier property, IDM Mining’s Red Mountain property,
Colorado’s KSP property, Eskay Mining’s SIB property, GT
Gold’s Tatogga property and Decade’s Red Cliff property are prime
examples."
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 independently
verified the accuracy of the technical data presented in this
release but has no reason to believe it is unreliable.
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 $1.2 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.
Illustrations: 1.
http://teuton.com/wp-content/uploads/2017/06/Treaty-Creek_Property_new25062017.pdf
2.
http://teuton.com/wp-content/uploads/2017/06/Another-Treaty-page_ver2-1.jpg
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.
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