Teuton Resources Corp.: News Release---New Gold Zone Discovered at High Property-"King Tut"---Drill Cuts 222m of 0.88 g/t Gold
Teuton Resources Corp.
TSX VENTURE : TUO
FRANKFURT : TFE
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October 15, 2012 08:30 ET
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 15, 2012) - Teuton Resources Corp. ("Teuton") (TSX VENTURE:TUO)(FRANKFURT:TFE)(OTCBB:TEUTF) is pleased to report results from the first hole drilled in 2012 on the High property, situated north of Stewart in the Eskay Creek-Sulphurets-Premier region of northwestern British Columbia (the "Golden Triangle"). The High property adjoins due south of Pretium Resources' Brucejack property.
A new zone, dubbed the "King Tut", has been discovered by surface sampling and drilling 1 50m south of the boundary with Pretium's Brucejack property, host of the Valley of the Kings zone (see Fig. 1, for location).
Drill
Hole | Interval
(metres) | Width
(metres) | Width
(feet) | Gold
(g/t) | | H12-01 | 300-522 | 222 | 728 | 0.88 |
The drillsite was located on a rock island which has appeared from under the snow and ice, 600m west of the southward projection of the Brucejack fault. The newly exposed rock is bisected by a contact between hypabyssal porphyry and sediments + mafic intrusives. The drill hole had a dip of 75 degrees and was collared within the sediments, intersecting the porphyry at 300m down dip. Although two more holes were planned at shallower angles to intersect the gold-bearing porphyry at higher elevations, time constraints precluded their start. A drill section is produced in Fig. 2, accompanying this news release.
Four surface grab samples were taken in the porphyry immediately southwest of the drill collar. Results are as follows:
Sample
# | Sample
Type | Copper
(%) | Lead
(%) | Zinc
(%) | Silver
g/t | Gold
g/t | | High-1 | Grab | 0.07 | 0.36 | 0.10 | 14.5 | 1.79 | | High-2 | Grab | 0.09 | 0.33 | 0.95 | 40.1 | 16.80 | | High-3 | Grab | 0.12 | 0.08 | 0.16 | 4.2 | 0.56 | | High-4 | Grab | 0.09 | 0.38 | 0.74 | 10.8 | 1.58 |
The copper, lead and zinc values obtained in these grabs, coming from galena, sphalerite and tetrahedrite mineralization, indicate potential for higher gold grades in the upper portion of the porphyry, the topmost 300 vertical meters of which remains to be tested.
Dino Cremonese, P.Eng., President of Teuton Resources Corp., commented as follows: "With this first hole into the northern High claims gossans, we were fortunate enough to hit extensive gold mineralization, proving that the prolific system of gold-bearing deposits evident in the properties of Pretium Resources and Seabridge Gold extends southward into our ground. The nearest zone to the north is Pretium's Bridge deposit from which 21 holes drilled in 2010 averaged 237m of 0.87 g/t gold, the same grade and almost same length as our hole. Surface sampling of the King Tut suggests that we may encounter higher grade sections when we return to drill the untested upper region of this zone. As well as the King Tut, there are at least six other targets in the vicinity."
Core sampling is now complete on Holes H12-02 and H12-03 drilled into the gold zone exposed in the southern portion of the High claims (see Fig. 1), and samples have been shipped to the laboratory. Both holes exhibit lengthy (up to 100m) sections of intense iron carbonate alteration with cross-cutting fractures containing sphalerite and pyrite mineralization. Assays should be available within three weeks.
The Qualified Person for the purposes of this news release is D. Cremonese, P.Eng. All samples are assayed by Loring laboratories of Calgary, an ISO9001-certified laboratory. The Qualified Person has used the assay data for the drilling and the drill logs to calculate the gold-bearing intervals The QA/QC protocol system employed during the 2012 exploration program included procedures for monitoring the chain-of-custody of samples and the insertion of blanks and reference standard samples in every batch of samples. Mr. Cremonese has not independently verified the data from Pretium Resources.
Respectfully:
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.
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