First Hole Into GR2 Zone at Treaty Creek Intersects Precious Metal Rich Stratabound Mineralization Grading 5.1 Metres of 9.57...
August 08 2017 - 9:50AM
Teuton Resources Corp. (“Teuton” or “the Company”)
(TSX-V:TUO) (Frankfurt:TFE) (OTCBB:TEUTF) is pleased to
announce that a zone of gold-bearing mineralization has been
discovered on the Treaty Creek property, situated 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 Resources is the operator and owns
a 60% interest and American Creek Resources owns a 20% carried
interest.
The new zone was intersected in Hole HC-17-01
designed to test for northern extensions of GR2 zone mineralization
as encountered in previous drilling in 2007 and 2009. Hole
HC-17-01 intersected a stratabound, brecciated and silicified
sulphide venting zone containing tetrahedrite, antimonial
sulphosalts and pyrite located at the contact between an upper
pervasively hydrothermally altered volcaniclastic unit and a
footwall mudstone unit. The entire interval from 247.3
to 254.45m returned 7.15m of 6.20 g/t gold, including the venting
zone—1.05m of 4.12 g/t gold from 247.3 to 248.35m---and the vented
sulphides in the immediate footwall mudstones—5.1m of 9.57
g/t gold from 249.35m to 254.45m. True widths are
uncertain at this time.
Five additional holes have been completed in
this target and assays are pending. Concurrently, drilling is
proceeding with a second drill on the adjacent Copper Belle zone on
porphyry gold and gold-copper targets.
Walter Storm, President of Tudor Gold commented
as follows: “We are very encouraged by the results from the first
hole into this target, particularly as it appears gold
mineralization is extending to the north. The style of
mineralization, stratabound sulphides, particularly tetrahedrite,
elevated gold values, hosted in mudstones, is also encouraging as
it has affinities with the unique Eskay Creek mine mineralization
located 12 km to the west.” Note: The existence of gold
deposits on nearby properties is not necessarily indicative of the
mineralization on Treaty Creek.
A third drill is being mobilized to the
property.
All technical information for Tudor Gold Corp's
Treaty Creek Gold Project is obtained and reported under formal
quality assurance and quality control (“QA/QC”) procedures and
guidelines. Tudor's procedures are designed to meet “Best Practices
Guidelines” and National Instrument 43-101 standards of
disclosure. QA/QC protocols for drill core sampling and
assaying include the insertion and monitoring of appropriate
reference materials (certified standards, blanks and duplicates) to
validate the accuracy and precision of the assay results.
All drilling samples were collected using a
diamond HQ or NQ core drilling rig following industry standard
practice. Activation Laboratories Ltd. prepared and assayed the
samples at their laboratory in Kamloops, B.C. Gold samples are
analyzed by a 30g Fire Assay method, then if Au>10 gpt is
re-analysed by 30g Fire Assay with AAS finish. Ag is analysed by
0.5g Aqua Regia digestion, ICP-OES (along with other elements).
Then if Ag>100ppm is automatically re-analysed by 30g FA with
gravimetric finish.
The technical data in this news release was
reviewed by by Raul Sanabria, M.Sc., P.Geo, EurGeol, Tudor Gold’s
Exploration Manager and Qualified Person for the 2017 Treaty Creek
field season. 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 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 $1.45 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.
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