Teuton Resources: Results from Final Three Holes at Treaty Creek, 2024 Drill Program–Discovery of 4th High-Grade Gold Target, Supercell-1D; Optionee Decade Resources Intersects K Zone in Eleven Holes at Del Norte Property
teuton.com
Victoria, BC, October 8, 2024 – Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TFE”- Frankfurt)is pleased to report that Project Operator and Joint Venture (“JV”) partner Tudor Gold (“Tudor”) has announced results from the final three holes of the 2024 exploration drilling program (the “Program”) at the Treaty Creek Property, located in the heart of the Golden Triangle of Northwestern British Columbia. The 2024 Program was recently completed, totaling 10,530 meters (m) with all crews and drilling equipment demobilized from site.
The Supercell-One Zone (SC-1) was identified earlier this year to represent a significant potential economic target that is within, and peripheral to, the CS-600 Domain. The discovery of a fourth sub-parallel gold bearing breccia system (SC-1D) continues the expansion of the Supercell-One system. Drillhole GS-24-187 intersected 10.92 g/t AuEq over 3.00 m within SC-1C and 5.70 g/t AuEq over 3.00 m within a newly discovered SC-1D zone, both occurring within a strongly mineralized envelope that returned 1.43 g/t AuEq over 99.00 m. The gold-rich SC-1 system occurs within an area measuring up to 800 m in length by 400 m in depth. All four stacked, sub-parallel structures remain open in all directions and to depth.
Drilling Highlights:
Hole GS-24-185 intersected a 150 m eastward step-out of the CS-600 Domain and the new SC-1D zone.
- CS-600: 1.01 g/t AuEq over 200.50 m (0.92 g/t Au, 2.69 g/t Ag, 0.05% Cu)
- Including: 2.18 g/t AuEQq over 21.00 m (1.95 g/t Au, 2.92 g/t Ag, 0.17% Cu)
- SC-1D: 9.60 g/t AuEq over 13.50 m (9.58 g/t Au, 0.44 g/t Ag, 0.01% Cu) *
Hole GS-24-186 intersected an 85 m northward step-out of the SC-1A zone.
- SC-1A: 10.40 g/t AuEq over 1.50 m (9.78 g/t Au, 22.46 g/t Ag, 0.02% Cu)
Hole GS-24-187 intersected a 200 m northeastward step-out of the SC-1C zone, a 130 m northward step-out of the SC-1D zone and a 120 m northward step-out of the CS-600 Domain.
- SC-1C: 10.92 g/t AuEq over 3.00 m (10.89 g/t Au, 0.97 g/t Ag, 0.02% Cu)
- SC-1D: 5.70 g/t AuEq over 3.00 m (5.65 g/t Au, 0.95 g/t Ag, 0.03% Cu)
- CS-600: 1.22 g/t AuEq over 115.50 m (0.75 g/t Au, 2.22 g/t Ag, 0.36% Cu
- Including: 1.68g/t AuEq over 10.50 m (0.13 g/t Au, 4.76 g/t Ag, 1.22% Cu)
Click the following links to view a plan mapand cross sectionsfor holes GS-24-185, 186 and 187.
Ken Konkin, President and CEO of Tudor Gold, commented: “We are extremely pleased to announce the continued discovery of multiple sub-parallel, stacked, micro-breccia systems within the Supercell Complex. The consistent high-grade gold intercepts were discovered from the wide-spaced step-out drilling targeting the open-ended CS-600 domain in the northern and eastern areas of the Goldstorm Deposit. Crews were pleasantly surprized to observe consistent gold mineralization within the series of late-stage gold-dominant quartz-pyrite micro-breccia structures. We also reviewed and re-interpreted an earlier intercept from hole GS-24-185 that was initially thought to have been an off-set to Supercell-1C (SC-1C) but subsequent drilling confirmed that this 13.5 m intercept of 9.60 g/t AuEq belongs to Supercell-1D which lies directly below SC-1C as it appears to be an individual splay emanating from SC-1C as a new sub-parallel Supercell-1D (SC-1D). This newly discovered SC-1D was also intersected by drill hole GS-24-187 and yielded 3.0 m of 5.7 g/t AuEq. Additionally, an 85 m northward step-out with hole GS-24-186 intersected 10.40 g/t AuEq over 1.5 m, within the SC-1A breccia zone, the uppermost micro-breccia system discovered to-date. Our wide-spaced step-out drilling was equally successful in expanding the CS-600 domain well outside the known area of the Goldstorm Deposit towards the northeast. Significant gold, copper and silver mineralization was encountered with the 150 m eastward step-out hole GS-24-185 (1.01 g/t AuEq over 200.5 m) and the 120 m northern step-out hole GS-24-187 that intersected 1.22 g/t AuEq over 115.5 m. Although the Goldstorm Deposit remains open in all directions and at depth, our priority focus is on the Supercell Complex. This system holds great potential for enhancing the economic advantage of the Treaty Creek Project. The Goldstorm Deposit now contains a high-grade component that can be traced for over 800 m along a northern axis with a moderate westward dipping axis that measures over 400m. Our goal is to expand the limits of the four newly discovered Supercell structures to maximize the economic potential of these gold-dominant breccia systems as a possible starter mine, and to gain access to the CS-600 domain by utilizing the same infrastructure required to potentially mine the Supercell material. It is unknown if we will ever reach the limits of the Goldstorm Deposit as our technical team will concentrate all efforts on the high-grade portions of the Deposit. We plan to review other gold-dominant sub-domains such as R-66 and 300N that appear to have similar structural controls, and are composed of similar quartz-pyrite micro-breccia veinlets, to hopefully add to the growing high-grade gold story of the Goldstorm Deposit at Treaty Creek, within the heart of the Golden Triangle.”
Drilling Discussion
Section A
- GS-24-185: This hole was drilled to step out 140 m from previously drilled SC-1C mineralization, as well as infilling CS-600 mineralization at depth. The hole intersected 13.50 m grading 9.60 g/t AuEq (9.58 g/t Au, 0.44 g/t Ag, 0.01% Cu)* which is now interpreted as occurring within a fourth zone (SC-1D) of the network of subparallel brecciated Supercell-One complex of structures. This hole also intersected 200.50 m grading 1.01 g/t AuEq (0.92 g/t Au, 2.69 g/t Ag, 0.05% Cu) of the CS-600 Domain representing a 150 m step-out towards the east.
*Previously reported (September 10th, 2024)
- GS-24-186: This hole was drilled to intersect SC-1 structures and CS-600 mineralization to the north. An intercept of 10.40 g/t AuEq over 1.50 m (9.78 g/t Au, 22.46 g/t Ag, 0.02% Cu) represents an 85 m northward step-out of the SC-1A zone. Additionally, the CS-600 domain was intersected over 45.00 m grading 1.21 g/t AuEq (0.86 g/t Au, 2.16 g/t Ag, 0.26% Cu).
- GS-24-187: This 150 m – 200 m northeastward step-out hole tested the extents of multiple SC-1 zones as well as the CS-600 Domain. The hole intersected a wide envelope of Au rich mineralization surrounding intercepts of SC-1C and SC-1D zones, totalling 99.00 m grading 1.43 g/t AuEq (1.36 g/t Au, 2.21 g/t Ag, 0.04% Cu), which included 10.92 g/t AuEq over 3.00 m (10.89 g/t Au, 0.97 g/t Ag, 0.02% Cu) within the SC-1C zone, and 5.70 g/t AuEq over 3.00 m (5.65 g/t Au, 0.95 g/t Ag, 0.03% Cu) within the SC-1D zone. A further intercept of CS-600: 1.22 g/t AuEq over 115.50 m (0.75 g/t Au, 2.22 g/t Ag, 0.36% Cu) expanded the CS-600 domain over 120 m to the north.
Table 1: Drilling Results for Goldstorm Deposit in Press Release October 8, 2024
| Section | Hole | Zone | From | To | Interval | Au | Ag | Cu | AuEq | | (m) | (m) | (m) | (g/t) | (g/t) | (%) | (g/t) | | B | GS-24-185 | CS-600 | 1094.00 | 1294.5 | 200.50 | 0.92 | 2.69 | 0.05 | 1.01 | | Inc. | 1105.50 | 1126.50 | 21.00 | 1.95 | 2.92 | 0.17 | 2.18 | | GS-24-186 | SC-1A | 787.50 | 789.00 | 1.50 | 9.78 | 22.46 | 0.02 | 10.40 | | CS-600 | 1261.50 | 1306.50 | 45.00 | 0.86 | 2.16 | 0.26 | 1.21 | | Inc. | 1265.00 | 1288.20 | 23.20 | 1.11 | 2.97 | 0.47 | 1.73 | | A | GS-24-187 | SC-1C | 919.50 | 922.50 | 3.00 | 10.89 | 0.97 | 0.02 | 10.92 | | SC-1D | 975.00 | 978.00 | 3.00 | 5.65 | 0.95 | 0.03 | 5.70 | | SC-1 | 919.50 | 1018.50 | 99.00 | 1.36 | 2.21 | 0.04 | 1.43 | | CS-600 | 1074.00 | 1189.50 | 115.50 | 0.75 | 2.22 | 0.36 | 1.22 | | Inc. | 1098.00 | 1108.50 | 10.50 | 0.13 | 4.76 | 1.22 | 1.68 | | ·???????All assay values are uncut and intervals reflect drilled intercept lengths. | | ·???????HQ and NQ2 diameter core samples were sawn in half and typically sampled at standard 1.5 m intervals. | | ·???????The following metal prices were used to calculate the Au Eq metal content: Gold $1850/oz, Ag: $21/oz, Cu: $3.75/lb. Calculations used the formula AuEq = Au g/t + (Ag g/t*0.0100901) + (Cu ppm*0.0001236). All metals are reported in USD and calculations consider recoveries of 90 % for gold, 80 % for copper, and 80 % for silver. | | ·????????True widths have not been determined as the mineralized body remains open in all directions. Further drilling is required to determine the mineralized body orientation and true widths. |
Table 2: Drill data for holes in Press Release October 8, 2024
| Section | Hole ID | UTM E NAD 83 | UTM N NAD 83 | Elevation (m) | Azi (?) | Dip (?) | Depth (m) | | B | GS-24-185 | 429306 | 6274219 | 1373 | 240 | -76 | 1350 | | A | GS-24-186 | 428982 | 6274265 | 1462 | 265 | -82 | 1566 | | B | GS-24-187 | 429306 | 6274219 | 1373 | 265 | -83 | 1440 |
Qualified Person For Treaty Creek Property
Ken Konkin, P.Geo, President and CEO, Tudor Gold, is the Qualified Person, as defined by National Instrument 43-101, responsible for the Treaty Creek Project (Under the terms of the Joint Venture, Tudor Gold is solely responsible for funding and carrying out work at Treaty Creek until such time as a production decision is made). Mr. Konkin has reviewed, verified, and approved the scientific and technical information in the Tudor Gold news release dated October 8, 2024. Technical information as presented in this news release by Teuton Resources is consistent with that published in the Tudor Gold release of October 8, 2024.
QA/QC
Diamond drill core samples were prepared at MSA Labs’ Preparation Laboratory in Terrace, BC and assayed at MSA Labs’ Geochemical Laboratory in Langley, BC. Analytical accuracy and precision are monitored by the submission of blanks, certified standards and duplicate samples inserted at regular intervals into the sample stream by Tudor Gold personnel. MSA Laboratories quality system complies with the requirements for the International Standards ISO 17025 and ISO 9001. MSA Labs is independent of Tudor Gold and the Company.
About Treaty Creek
Teuton was the original staker of the Treaty Creek property, host to the large Goldstorm deposit, assembling the core land position in 1985. It presently holds a 20% carried interest in the Treaty Creek Project (Tudor Gold is responsible for paying all exploration costs up until such time as a production decision is made and owns a 60% interest; American Creek Resources owns the remaining 20% interest, also carried). Additionally, Teuton owns a 0.98% Net Smelter Royalty in the Goldstorm deposit area as well as in the northern portion of the Perfectstorm zone; within the southern portion of the Perfectstorm zone, Teuton owns a 0.49% NSR with an option to increase that to 1.49% by paying $1 million to the current owner. It also owns numerous additional royalty interests within the Sulphurets Hydrothermal system on formerly 100%-owned properties such as the King Tut, Tuck, High North, Orion, Delta and Fairweather properties (King Tut and Tuck now owned by Newmont Mining; High North, Orion, Delta and Fairweather properties now owned by Goldstorm Metals).
The Treaty Creek Project contains the Goldstorm Deposit (a large gold-copper porphyry system) as well as several other mineralized zones.
2024 Drill Program Complete at Del Norte Property; 11 Holes Intersect K-Zone
Teuton is pleased to announce that it has received the following report summarizing work at the K Zone on the Del Norte property in 2024 from optionee Decade Resources (“Decade”): Twelve holes totalling 2,014.5 m of NQ sized core were completed during the 2024 drill program with one lost before encountering the K Zone. Drill holes were approximately 200m long using an A-5 drill capable of drilling at low angle dips. Holes were drilled to test beneath the 2002 and 2006 drilling and trenching programs. The drill holes tested 200m below the 2002 and 2006 work along approximately 50m of strike length.
The following results were obtained In 2002 and 2006 trenching on the K Zone:
| Year of Trenching | Width (m) | Au g/t | Ag g/t | | 2002 | 10 | 6.14 | 630.86 | | 2006 | 15 | 3.93 | 267.59 |
The 2002 sampling was 50m downhill from the 2006 sampling which was above the 2002 drilling. With the recent ablation of the glacial ice, more of the K zone is exposed below the 2002 sampling which was the focus of the 2024 exploration. Work was focused on expanding the drill results obtained below:
| Drill hole | Width (m) | Au g/t | Ag g/t | | 2002-01 | 31.3 | 3.57 | 192.3 | | 2002-02 | 32.9 | 4.59 | 176.7 | | 2002-03 | 23.4 | 7.64 | 277.3 |
Except for DDH-DN-24-1 (which deviated and broke to surface), all holes encountered the K zone at the sediment-felsic volcanic contact. The zone is marked by faulted and brecciated sediment, sheared and silicified dacite ash tuffs and dacitic dykes that are variably silicified with chalcedonic quartz, vuggy quartz with small crystals in the vugs and blue-grey quartz with pyrite-sphalerite-galena-tetrahedrite mineralization.
The Del Norte property is located 34km east of Stewart in the Skeena Mining Division.? The property consists of 13 mineral tenures (claims) covering 5830 hectares in which Decade had the right to earn up to a 55% interest. To earn this interest, Decade had to incur $4,000,000.00 in expenditures in a 5 year period and make option payments. Decade has the right to earn an additional 20% by placing the property into production.
Decade states that all payments have been made and in excess of $4,000,000.00 in exploration has been spent.
The Del Norte project covers an eight-kilometre-long north-south mineralized belt that hosts multiple gold showings in the same geological environment as the Eskay Creek gold mine. Significantly, three gold-bearing streams intersect the property; namely Nelson, Del Norte and Willoughby Creeks with Nelson Creek supporting a gold placer mining operation in the 1930s.
Drilling was completed from a drill station built on a narrow ridge to test the down dip extension of the K Zone (Kosciuszko Zone/ SP) that has been explored by a few holes and several trenches in previous programs. The zone mineralization is associated with quartz veins and breccias which are spatially restricted to felsic packages of rocks. The felsic volcanics are located stratigraphically at the same geological horizon as that hosting the Eskay Creek deposit.
[The above photo shows the complex nature of the zone across at least 10 m in DDH-DN-2024-11.]
[The photo below shows quartz from the zone in DDH-DN-2024-3 with light brown sphalerite and minor galena.]
Cut core samples have been sent to MSA Labs in Terrace, BC for sample preparation and then for analysis in their Langley, BC facilities.
Qualified Persons for Del Norte Property
E. Kruchkowski, P. Geo. is the Qualified Person for technical information in regard to work done on the Del Norte Property as presented in Decade’s news release of October 8, 2024. D. Cremonese, P. Eng. is the Qualified Person for Teuton Resources (as President of the Company he is not independent of the Company). Technical information presented in Teuton’s news release of today’s date is consistent with technical information in Decade’s news release dated October 8, 2024.
About Teuton
Teuton owns interests in more than thirty properties in the prolific “Golden Triangle” area of northwest British Columbia and was one of the first companies to adopt what has since become known as the “prospect generator” model. This model minimizes share equity dilution while at the same time maximizing opportunity. Earnings provided from option payments received, both in cash and in shares of the optionee companies over the past 8 years, has provided Teuton with substantial income.
On Behalf of the Board of Directors of Teuton Resources:
“Dino Cremonese”
Dino Cremonese, P. Eng.,
President and Chief Executive Officer
For further information, please visit the Company’s website at www.teuton.com or contact:
Barry Holmes
Director Corporate Development and Communications
Tel. 778-430-5680
Email: bholmesmba@gmail.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements regarding Forward-Looking information
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially.
All statements relating to future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
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