Teuton Resources discovers new gold system at Treaty Creek, British Columbia
Teuton Resources Corp. [TSXV-TUO; OTC-TEUTF; FSE-TFE] has received assays from its Joint Venture partner, Tudor Gold Corp. [TSXV-TUD; OTC-TDRRF; FSE-H56], in respect of the fourth set of drill results from the 2023 work program at the Treaty Creek property. Treaty Creek is located in the heart of the Golden Triangle of northwestern British Columbia, adjoining and on geological trend with Seabridge Gold’s KSM property and Newmont Mining’s Brucejack property.
Tudor Gold completed the 2023 drilling program at Treaty Creek with a total of 31,904 metres drilled within areas encompassing the Goldstorm Deposit and the Perfectstorm Zone. The assay results reported in this release are from six drill holes that targeted both the southwestern and the northeastern areas of the Perfectstorm Zone (PSZ) located approximately 1,500 metres apart.
Ken Konkin, President and CEO of Tudor Gold, commented: “Tudor Gold’s technical team has done an outstanding job with this year’s drill program at Treaty Creek. Not only have we significantly expanded the known boundaries of the Goldstorm Deposit, but we have also successfully confirmed the existence of the Perfectstorm System with holes that are spaced over a distance of 1,500 metres. We believe that we have intersected the upper extremity of yet another porphyry system that lies approximately 2 km southwest of our Goldstorm Au-Cu-Ag Deposit.
“Typically, copper mineralization is encountered deeper within the known deposits along the Sulphurets-Treaty Thrust Fault trend. Our intersections reported in this news release occur much higher in elevation than the copper-rich zones encountered at Goldstorm. We have observed gold and silver-dominant mineralization in the uppermost parts of the southwestern holes of the Perfectstorm System with copper mineralization occurring in the deeper parts of the northeastern holes.
“Our current geological interpretation is that the system lies peripheral to the intense magnetic anomaly that has been detected under the Treaty Glacier to the southeast of the drill holes. Previous drilling undertaken between the two areas reported in this news release may have been on the periphery of stronger mineralization, such as that which we discovered in drill hole PS-23-10. Previous holes were oriented to the northwest, whereas those holes drilled this year in the opposite direction have revealed wider and more strongly mineralized intervals, such as 1.28 g/t AuEq (1.23 g/t Au, 3.43 g/t Ag, 0.01% Cu) over 102.15 meters in PS-23-10. The upper 42.5 meters of this intercept yielded 1.87 g/t AuEq (1.80 g/t Au, 5.76 g/t Ag, 0.02% Cu).
“The Perfectstorm system adds a new dimension to the geological potential of the Treaty Creek Project with the addition of yet another bulk-tonnage Au-Cu-Ag target. Included in the impressive intercepts were some high-grade gold-silver veins that are interpreted as late-stage overprinted mineralization, similar to that observed at the Goldstorm Deposit throughout the 300H and CS-600 domains. Grades as high as 444.0 g/t silver and 24.7 g/t gold were intersected over 1.5-metre intervals within holes PS-23-07 and PS-23-10 respectively. We are very excited in our anticipation of yet another potentially massive bulk tonnage Au-Cu-Ag system, with high-grade Au-Ag overprinting, on our exploration horizon.”
Cremonese, P. Eng., President of Teuton Resources, commented: “Ken Konkin and his team at Tudor Gold have completed yet another outstanding year of exploration at Treaty Creek. The new assays from the Perfectstorm zone indicate that Tudor’s geological team is beginning to grasp the controls on mineralization therein, suggesting that another porphyry deposit may be taking shape. In addition, higher grade gold intervals are being found within and proximate to the bulk tonnage grade material, similar to what one is seeing at the northern extremities of the Goldstorm deposit. These developments are very positive for future exploration in the area.”
Teuton 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 Ltd. [TSXV-AMK; OTCQB-ACKRF] 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.