Teuton Resources Corp.: Brigade Drills 205m of 0.465% Copper Equiv. at Tennyson
December 16 2013 - 7:30AM
Marketwired
Teuton Resources Corp.: Brigade Drills 205m of 0.465% Copper Equiv.
at Tennyson
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 16, 2013) -
Teuton Resources Corp. ("Teuton")
(TSX-VENTURE:TUO)(FRANKFURT:TFE)(OTCBB:TEUTF) is pleased to
announce that it has received assay results for the 16-hole,
multi-million dollar drill program conducted on the Tennyson
property this year by Brigade Resources ("Brigade"), a private
Hunter Dickinson company. Various targets on the property were
tested, including the main porphyry copper-gold zone drilled by
Teuton in 2010-11 and a subsidiary zone (the "skarn zone") located
700m to the southeast.
Highlights of drilling include:
- 205.54m of 0.227 g/t Au and 0.300% Cu (0.465% Cu Equivalent*)
in TN13-09 (main zone)
- 103.62m of 0.129 g/t Au and 0.246 Cu (0.335% Cu Equivalent*) in
TN13-12 (skarn zone)
Hole TN13-09 was collared vertically about 200m southwest of the
northwest-trending axis of drilling in 2011. Holes TN13-02, 03A,
04A, 05, 06, and 07 tested the potential of the main porphyry
copper-gold zone in the area south and southwest of the 2011
drilling (see accompanying map for drill collar locations). A
tabulation of significant results from the 2013 drilling program is
presented below:
Drill Hole |
|
Interval (metres) |
|
Length (metres) |
|
Silver (g/t) |
|
Gold (g/t) |
|
Copper (%) |
|
Copper Equiv. * (%) |
TN13-02 |
|
1.76 to 18.90 |
|
17.14 |
|
1.1 |
|
0.157 |
|
0.295 |
|
0.407 |
|
|
61.61 to 134.36 |
|
72.75 |
|
5.5 |
|
0.170 |
|
0.249 |
|
0.420 |
incl. |
|
110.06 to 118.46 |
|
8.40 |
|
1.6 |
|
0.250 |
|
0.496 |
|
0.674 |
|
|
143.90 to 171.34 |
|
27.44 |
|
1.1 |
|
0.091 |
|
0.175 |
|
0.245 |
|
|
183.54 to 311.59 |
|
128.05 |
|
1.3 |
|
0.256 |
|
0.388 |
|
0.565 |
incl. |
|
247.56 to 280.11 |
|
32.55 |
|
2.3 |
|
0.537 |
|
0.686 |
|
1.054 |
|
|
323.78 to 332.93 |
|
9.15 |
|
0.6 |
|
0.556 |
|
0.023 |
|
0.384 |
TN13-03a |
|
64.01 to 97.56 |
|
33.55 |
|
8.0 |
|
0.417 |
|
0.157 |
|
0.513 |
|
|
112.80 to 128.05 |
|
15.25 |
|
1.8 |
|
0.227 |
|
0.241 |
|
0.406 |
|
|
164.63 to 246.95 |
|
82.32 |
|
1.0 |
|
0.217 |
|
0.216 |
|
0.365 |
Incl. |
|
164.63 to 207.32 |
|
42.69 |
|
1.1 |
|
0.292 |
|
0.254 |
|
0.452 |
TN13-04a |
|
90.24 to 96.34 |
|
6.10 |
|
10.8 |
|
2.21 |
|
0.021 |
|
1.550 |
|
|
154.27 to 190.58 |
|
36.31 |
|
1.4 |
|
0.401 |
|
0.035 |
|
0.306 |
TN13-05 |
|
114.30 to 245.543 |
|
131.13 |
|
2.6 |
|
0.192 |
|
0.173 |
|
0.325 |
Incl. |
|
126.49 to 163.07 |
|
36.58 |
|
6.8 |
|
0.251 |
|
0.196 |
|
0.433 |
TN13-06 |
|
312.50 to 330.79 |
|
18.29 |
|
0.7 |
|
1.367 |
|
0.026 |
|
0.903 |
TN13-07 |
|
325.91 to 414.33 |
|
88.42 |
|
1.9 |
|
0.199 |
|
0.188 |
|
0.336 |
Incl. |
|
344.21 to 380.79 |
|
36.58 |
|
2.7 |
|
0.208 |
|
0.287 |
|
0.450 |
|
|
447.87 to 478.35 |
|
30.48 |
|
0.8 |
|
0.201 |
|
0.167 |
|
0.304 |
|
|
493.60 to 524.09 |
|
30.49 |
|
0.4 |
|
0.102 |
|
0.185 |
|
0.253 |
|
|
533.23 to 547.68 |
|
14.45 |
|
0.3 |
|
0.095 |
|
0.215 |
|
0.279 |
TN13-09 |
|
46.90 to 252.44 |
|
205.54 |
|
1.8 |
|
0.227 |
|
0.300 |
|
0.465 |
Incl. |
|
69.51 to 81.71 |
|
12.20 |
|
4.5 |
|
0.334 |
|
0.783 |
|
1.046 |
Incl. |
|
148.78 to 191.46 |
|
42.68 |
|
2.1 |
|
0.361 |
|
0.473 |
|
0.727 |
|
|
261.15 to 273.78 |
|
12.63 |
|
0.7 |
|
0.071 |
|
0.262 |
|
0.315 |
TN13-12 |
|
36.58 to 140.20 |
|
103.62 |
|
0.6 |
|
0.129 |
|
0.246 |
|
0.335 |
Incl. |
|
95.19 to 115.82 |
|
20.63 |
|
1.1 |
|
0.198 |
|
0.538 |
|
0.677 |
*Metal Prices: Cu=$US 2.75/lb, Au= $US 1,200/oz,
Ag=$US 21.35/oz. Copper Equivalent = Cu % + (Au g/t x 38.58/60.63)
+ (Ag g/t x 0.686/60.63) |
An additional eight holes were drilled during the program but
did not encounter significant mineralization. These include four
holes on a target located about 1.5km north of the main porphyry
copper-gold zone (Holes TN13-11, 13, 14 & 15); two holes
collared about 200m northeast of the main porphyry copper-gold zone
on the other side of a major fault (Holes TN13-08 and 10); and, two
holes peripheral to the skarn zone mineralization (TN13-01 and
16).
The area west of a hole drilled in 2011 by Teuton (#TN11-14),
which ran 106.6m of 0.24 g/t gold and 0.42% Cu (0.57% Cu Equiv.*),
is considered by Teuton geologists to be a prime area for further
work. This area was not tested during the 2013 program.
In September of 2013, Teuton sold its remaining interest in the
Tennyson property to Brigade Holdings Ltd. ("Brigade") for $7
million, being $500,000 plus $6.5 million in subscription receipt
units (shares and warrants) of Brigade. When Brigade becomes a
public company, these subscription receipt units will be converted
into shares and warrants of Brigade, with Teuton holding a 29%
interest in Brigade. Brigade currently owns 100% of the Tennyson
property plus the adjoining Tide property.
Brigade has informed Teuton that it does not plan any further
work on the Tennyson property and talks have begun between Teuton
and Brigade which may see a return of the property to Teuton in
return for relinquishment of the subscription receipt units.
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 the
assays, sampling protocol, or QA/QC procedures used by Brigade, but
believes them to be accurate and in conformance with industry
standards.
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.
To view the map associated with this press release, please visit
the following link:
http://file.marketwire.com/release/917924_map.pdf.
Teuton Resources Corp.202-2187 Oak Bay Avenue, Victoria, BC, V8R
1G1(604) 682-3680 or Toll Free: 1-800-879-2333(604)
682-3992www.teuton.com
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