Hello Klinker,
I too am a little impatient with the slow release of details on this years drill program on our High property. But I don't think its time for tin foil hats. As I have previously posted, Teuton stated their plan to drill the High gossands this season back in January;
2012-01-11 05:42 PT - News Release
Mr. Dino Cremonese reports
TEUTON RESOURCES CORP.: $1 MILLION DOLLAR PROGRAM PLANNED FOR HIGH PROPERTY IN 2012 SEASON
Teuton Resources Corp. intends to carry out a $1-million drilling program on its High property during the 2012 field season. The work will be conducted immediately south of the Pretium Resources-Teuton border in an area marked by several gossanous outcrops. A camp will be established nearby.
On the Pretium Resources property, seven deposits are spatially related to the north-south-trending Brucejack fault, which is projected to run farther south into the Teuton ground. Collectively, these seven deposits are part of the Brucejack gold project and contain both high-grade and bulk-tonnage gold mineralization. One of the seven deposits, the Valley of Kings zone, has returned some spectacular bonanza grade gold intersections in recent drilling..................................................................
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Because of inclement weather that lasted throughout the 2011 season, Teuton carried out no work in the highly prospective area now slated for drilling in 2012. Instead work was confined to two zones located seven kilometres south of the boundary with Pretium Resources. This work consisted of prospecting and drilling of five holes..........................................................
Until Teuton's field team gets on site and has a chance to plot, plan and locate optimum drill site positions, I think it will be difficult to issue specific information on this years drill program.
I spoke to Teutons investor relations this week and he indicated that Dino and Amanda (both geologists and company directors) are on site and doing exactly that. I can only guess at what the general number of meters the 2012 program will be. And of course that would be subject to change as drilling progresses depending on results.
I would expect the goodwill of Seabridge would only go so far and that Teuton would be paying industry rates for the use of Seabridges' drill ($90 -$100 a meter - I think Seabridge shareholders would demand that).
I believe the principal savings Teuton will get using Seabridges drill will be drastically reduced mobilization and demobilization costs - (which can be significant given the lack of roads into the drill site necessitating expensive helicopter chartering). This would be on top of the savings of using Seabridges' camp facilities.
If they were to use most of the money raised during the financing, $1.33 million, they could do well over 10,000 meters. However, given the litigation and other demands on Teutons' coffer, I would expect a program of perhaps half that size. But even still a small program can be very effective. Remember Teutons 2011 Tennyson program was only 16 holes and that was enough (along with a smaller 2010 10 hole program) to capture the interest of Hunter Dickinson.
(In the interest of full disclosure it must be noted that drilling activity on Tennyson goes back many years. The May 25, 2011 43-101 Technical Report on Tennyson shows;
Drilling programs have been conducted on the property in the 1986, 1988, 1992, 2009 and 2010
field seasons. This drilling totaled 4566.91 metres in 34 holes located to test various
mineralized zones on the claims.
Although the work was spread out over many years, the amount of money actually spent on Tennyson between 1985 and 2010 total only $1.2 million. Like any other junior explorer, cash has always been a limiting factor on the amount of work that can be completed in any one season. This year we have enough I think, to make a good start on the High. And I believe even a modest success there will open up many new avenues of funding in the future.
The High is an excellent property perched on the edge of the Pretium Brucejack discovery. From what I have read I think it is easily superior in potential mineralization to Tennyson. Its large exposed and untested High Gossand lies in the same north / south trending chain of exposed mineralization that Seabridge and Pretium have so successfully explored. On that basis alone is it superior to the Tennyson property located 15 km further south.
These are the 'dog days of summer' but Teuton is progressing on its 2012 exploration program. For better or worse it is doing it in its usual low key style. If you want 'flash' there are a lot of other short lived exploration companies out there that put out news releases like I use pepper - to spice up a bland meal.
With respect Klinker, (and on another note) I noticed your post today on Homestake Resources.
Homestake completed their financing on July 18th, and now three weeks later they began drilling and released details of the 2012 program.
It has only been six days since Teuton completed its 2012 financing. Annoucement of commencement of drilling is expected shortly.
Patience my friend.
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