VANCOUVER, BRITISH COLUMBIA–(Marketwired – Oct. 11, 2016) – Teuton Resources Corp. (“Teuton”) (TSX VENTURE:TUO)(FRANKFURT:TFE)(OTCBB:TEUTF) is pleased to announce that a new 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 Corp. is the operator and American Creek Resources holds an identical 20% carried interest to Teuton’s.
The new zone was intersected in the third hole of the 2016 drilling program and is located approximately 870m northeast of the Copper Belle zone (drilled in 2007 and 2009). Impetus for drilling the hole was a magnetotelluric survey (MT survey) which was run earlier in the 2016 field season. A map showing the discovery hole can be seen at: http://teuton.com/wp-content/uploads/2016/10/treatydrillfinal.pdf
The first 316m of this third hole, CB-16-03, is still in the assay laboratory (results for this interval are expected within the next weeks). Assays from 316m to the end of the hole at 717.7m are in hand. From 316m to 426m, a 110m interval averages 0.909 g/t gold. Below 426m gold values drop off with some higher-grade exceptions, the two most prominent of which are 456 to 484m, a 28m interval running 0.665 g/t gold and from 598 to 610m, a 12m interval running 1.258 g/t gold. This hole was drilled at an azimuth of 292° and an inclination of -73°.
Ray Marks, vice-president of Tudor Gold stated, “We are very pleased to see that the information learned from the recent MT survey proved valuable in correctly delineating the drill target that was intercepted by drill hole CB-16-03.”
D. Cremonese, P.Eng, President of Teuton, commented as follows: “I had a chance to visit the Treaty Creek property in the past week to observe the exploration program being run by operator Tudor Gold Corp. The first thing that struck me was the tremendous ablation (meltback) of snow and ice that has occurred during the past years. It is really remarkable – several side glaciers have disappeared altogether and the level of the main Treaty Glacier is much, much lower than before. This has opened up big tracts of virgin ground for exploration. The collar for Hole CB-16-03 would undoubtedly have been under the ice when I first visited the property in 1983. Notably, the discovery interval, 110m of 0.909 g/t gold in Hole CB-16-03, represents the highest average grade over a long intersection yet achieved at Treaty Creek. It is significant in its own right, but if this interval is extended by the assays yet to come, an important new gold zone would be in the making.on the property. I am quite hopeful that ongoing drilling of MT anomalies delineated during the 2016 geophysical survey will continue to find more gold zones.”
Assays have also been received for the first two holes drilled in the 2016 program. The first of these, CB-16-01, was a follow-up of a 2009 drill hole, CB-09-14, which returned 241 metres averaging 0.8 g/t gold. Both the 2009 and 2016 holes were drilled in a northwesterly direction from the same site, with CB-09-14 being inclined at -70° and CB-16-01 at -60°.
Hole CB-16-01 returned the following assays to a final depth of 555 metres: from 110 to 320m, a 210m interval grading 0.449 g/t gold, including, from 144 to 154m, a 10m interval grading 1.857 g/t gold. Below 320m depth gold values dropped off with some isolated highs as follows: from 442 to 452m, a 10m interval averaging 1.478 g/t gold and from 542 to 555m, a 13m interval averaging 0.846 g/t gold.
The second hole of 2016, Hole CB-16-02, was drilled 340m to the north of CB-16-01 at an azimuth of 046° and an inclination of -72. This hole was drilled to 426m and encountered two gold -bearing sections: from 202 to 240m, a 38m interval averaging 0.516 g/t gold and from 306 to 426m, a 120m interval averaging 0.517 g/t gold.
At present there is not enough information to calculate true widths of the mineralization encountered in any of the holes. Drilling is continuing on the property and to date seven holes have been drilled.
Quality control procedures in place include the field insertion of blanks, standards and duplicate samples into the sample stream. Analytical work was done by Activation Laboratories Ltd., an accredited laboratory located in Kamloops, B.C. Gold was analyzed by 30 gram fire assay with AA finish. Other elements were analyzed by 38 element ICP-OES following Aqua Regia extraction. The main technical data in this news release was reviewed by James Hutter, P.Geo., Tudor Gold’s Qualified Person as defined by National Instrument 43-101. 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 million in the past eighteen months, 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.
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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.
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