Teuton Resources updates Golden Triangle projects, British Columbia
Teuton Resources Corp. [TSXV-TUO; OTCQB-TEUTF; FSE-TFE] has served a termination notice on Blackwolf Copper and Gold Ltd. [TSXV-BWCG] in regard to the option agreement between Blackwolf’s subsidiary (Optimum Ventures) and Teuton on the Harry property located north of Stewart, in the Golden Triangle region of northwestern British Columbia. The notice was served because of a failure to meet certain material obligations of the agreement.
Teuton’s Del Norte property, located east of Stewart, BC, is currently under option to Decade Resources Ltd. [TSXV-DEC]. Decade on April 16, 2024, announced results of a sampling program conducted over steep terrain located at the crest of the ridge separating Del Norte and Nelson Creeks. The area is described as being underlain by an oxidized, porphyritic diorite intrusive, accompanied by an extensive quartz-sericite-pyrite alteration halo. Twenty-nine grab samples taken during the program returned values from trace to 30.9 g/t gold. The results are to be followed up in 2024.
Treaty Creek Property: Teuton reported that project operator and joint venture partner Tudor Gold Corp. [TSXV-TUD; FSE-H56] has filed a technical report concerning an updated Mineral Resource Estimate on the Goldstorm Deposit at the JV’s flagship Treaty Creek Project located in the Golden Triangle region of British Columbia. Teuton retains a 20% carried interest in the joint venture, as well as a 0.98% NSR in the Goldstorm deposit area.
Tudor put out a news release on April 8, 2024, announcing the filing of the report, which was based on technical information previously released in a Mineral Resource Estimate dated Feb. 20, 2024.
Teuton owns interests in more than 30 properties in the prolific Golden Triangle 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.