Teuton Resources Corp. [TUO-TSXV; TEUTF-OTC; TFE-FSE] received the fourth set of drill results from its joint venture partner, Tudor Gold Corp., [TUD-TSXV; TDRRF-OTC; TUC-FSE] concerning phase l of the 2022 exploration program at the Treaty Creek property in the heart of the Golden Triangle of northwestern British Columbia, adjoining and on geological trend with Seabridge Gold’s KSM property and Newcrest Mining’s Brucejack property. Teuton has a 60% interest with Tudor Gold and American Creek Resources Ltd. [AMK-TSXV; ACKRF-OTCBB] each hold a 20% interest.
Ken Konkin, President and CEO of Tudor Gold, commented: “During the 2021 drill program, we drilled hole GS-21-113-W2 to the maximum depth possible and noted that the strongest sulphide mineralization occurred at the bottom of this hole. A decision was made to leave the casing and HQ rods in GS-21-113-W2 with the plan of returning to re-enter the hole this year with a more powerful diamond drill rig and we succeeded! The hole was extended 280.1 metres demonstrating that gold and copper grades increase with depth as the strongest mineralization occurs between 1,520 metres and 1,688 metres.
“This portion of the hole averages 2.48 g/t AuEq (gold equivalent) over 168 metres with copper averaging 0.82%. Silver mineralization is also becoming stronger at depth within the CS600 domain. In addition, results from targeting the DS5 domain were also successful with drill hole GS-22-139 which intersected 438 metres of 1.07 g/t AuEq and included an enriched upper portion that averaged 1.36 g/t AuEq over 172.4 metres.
“As previously reported, high-grade visible native gold has occurred from two of three aggressive step-out holes that were 225-metre and 500-metre step-out holes from the 2021 drilling program within the northeastern sector of the Goldstorm Deposit. These high-grade gold results may add a new dimension to the exploration potential of this project and we will continue to advance and explore this rapidly expanding aspect of these well mineralized domains.”
The program at the Treaty Creek property includes an aggressive resource expansion and delineation plan for several areas, including the Goldstorm Deposit and the Eureka and Calm Before the Storm Zones. Results included in this press release are reported from six diamond drill holes that were drilled on the Goldstorm Deposit from sections C and D. Five out of six holes were targeted outside the 2021 Mineral Resource Estimate area (see the end of the release for a link to a plan map and various section maps).
Goldstorm deposit, Section C: GS-21-113-W2, a 2021 drill hole, was re-entered and extended by 280.1 metres to a total depth of 1,855.1 metres. The composited interval that includes 300H and CS600 domains, that was calculated in 2021, has been expanded from 1,320.0 metres of 0.97 g/t AuEq to 1,497.5 metres grading 1.12 g/t AuEq. The CS600 domain intercept was expanded from 556.5 metres of 1.38 g/t AuEq to 732.0 metres grading 1.60 g/t AuEq. The high-grade bottom segment of CS600 originally reported 57.0 metres grading 2.34 g/t AuEq which has now been extended to 168.0 metres of 2.48 g/t AuEq (1.41 g/t Au, 0.82% Cu); visible gold was noted in one core sample . The drill hole successfully exited the lower boundary of the CS600, however, a downdip boundary (northwest boundary) of the orebody has not been identified and the CS600 currently remains open at depth where gold and copper grades are the highest. Increasing grades at depth are closely correlated with increasing potassic alteration as drilling information vectors towards the magmatic source of this extensive porphyry system.
GS-22-143 stepped out 225 metres northeast from the 2021 drilling and targeted 300H and CS600 mineralization. In addition to the high-grade interval of 39.15 g/t AuEq over 2.0 metres that was previously reported, a 102.25-metre interval grading 0.98 g/t AuEq in the CS600 area was intercepted which included a 1.5-metre interval of 14.7 g/t AuEq.
Section D: GS-22-139 targeted the DS5 domain and returned 438.0 metres grading 1.07 g/t AuEq. Within this, two high-grade intervals consisted of 28.4 metres grading 1.95 g/t AuEq and 24.0 metres grading 2.05 g/t AuEq This hole is located 250 metres northeast from the 2021 drill holes.
An IP survey is being conducted over target areas on the optioned Harry property by Simcoe Geoscience. Extensive prospecting and sampling are also taking place. Drilling will focus on extending the strike and dip of the Swan zone.”
Optimum Ventures Ltd. [OPV-TSXV; OPVLF-OTCQB] can earn up to an 80% interest by carrying out $9 million of work over five years. Optimum must also pay Teuton $1.5 million in cash and issue 4,000,000 shares to Teuton over the option period. Teuton retains a 2.0% Net Smelter Royalty and a 20% interest after the option is exercised. Surface sampling and prospecting began in early July in the vicinity of several large, ZTEM anomalies detected during a 2018 airborne survey found on the Big Gold, Eskay Rift, Pearson and Tennyson properties (all four properties are 100%-owned).