Tickers: XTSX:TUO, PINX:TEUTF
Tags: Mining
July 19, 2018 / TheNewswire / Teuton Resources Corp. ("Teuton" or "the Company") ("TUO"-TSX-V) ("TUC"- Frankfurt) is pleased to report that exploration has begun on many of its properties lying within the Stewart region, the most precious metal rich portion of British Columbia's famous Golden Triangle.
Geotech ZTEM system arrives in Stewart
Geotech has informed Teuton that its ZTEM system has arrived in Stewart and that its operators will be onsite Friday. They will complete the system assembly over the weekend and thereafter the crew will commence test flights on Monday. The survey will be flown by Access Helicopters and will consist of at least 1140 line-kms over three separate areas: the Pearson-Mach, Tennyson and Del Norte-Konkin Silver properties.
The Pearson property, at this time, is the most prospective with a robust 1.8km long EM anomaly (as yet untested by drilling) that was previously identified by a VTEM airborne survey and is located on the southern part of the property.
Flanking this EM anomaly are eight magnetic anomalies, of which the two most intense may signal massive sulphides. Caracle Creek International Consulting said of one of them: "This anomaly is produced by a target that is entirely within the Hazelton Group andesite complex. It is vertically extensive between 350m and 1300m horizons and shows a great deal of magnetic susceptibility (>0.16 SI units), which could be compatible with massive sulphides".
The Pearson anomaly lies very close to the western edge of the Eskay Creek Rift as defined by the South Unuk Fault (which also coincides with Kyba's "red-line'). This important regional marker runs from the Granduc mine area northwest to Garibaldi's highly prospective "E&L" nickel massive sulfide target, the subject of a very large exploration program in 2018. Significantly, the Garibaldi property, the Metallis property to the south, and the Pearson property are all situated in Bouguer gravity anomalies [Interested readers can find out more by referencing the Pearson page on Teuton's website at www.teuton.com.]
Treaty Creek Drilling Begins
Teuton is pleased to report that the 2018 drilling program on the Treaty Creek property has begun. The Treaty Creek Project lies north along geological trend of the KSM property of Seabridge Gold, home to one of the world's largest reserves of copper and gold and the Brucejack-Snowfield property of Pretium Resources, host to Canada's newest gold mine, the Valley of the Kings. Teuton holds a 20% carried interest in the property (carried until a production decision is made), as well as various NSR interests. American Creek holds a 20% carried interest, with the balance of 60% owned by Tudor Gold, the Operator.
Drilling at the Treaty Creek project by Tudor Gold in 2017 produced a number of intercepts containing long intervals of gold mineralization in the Copper Belle zone. Additional high gold grades were also encountered in drilling on secondary targets, at the GR2 and HC zones.
Tudor Gold plans to immediately follow up the promising 2017 results by concentrating on the northwest end of the Copper Belle zone, stepping out from the currently defined mineralized area. Previous intercepts at Copper Belle were located at the edge of a strong magnetic high with a coincident MT anomaly. Hole CB-16-03 is located in this anomaly and this season's drilling will target the core of this magnetic/MT anomaly. Drilling is also planned on two large magnetotelluric anomalies outlined by Simcoe Geoscience, the Company's geophysical consultant. Simcoe Geoscience has previously provided the magnetotelluric surveys and interpretive guidance for Seabridge Gold and Pretium Resources in targeting what have developed into world-class discoveries on these neighbouring properties.
D. Cremonese, P.Eng., is Teuton's Qualified Person for the purposes of this news release. As president, Mr. Cremonese is not independent of the Company.
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. Eleven of its properties are currently under option and cash proceeds from these options are just under $2 million since 2015, 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.
For more information contact Investor Relations at 778-430-5680 or barry@teuton.com. If you would like to be added to Teuton's news distribution list, please send your email address to dino@teuton.com
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.
The TSX Venture Exchange has neither approved nor disapproved the
information contained herein.
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