Teuton Resources: Porphyry Copper-Gold Mineralization Intersected at Del Norte Property in the Golden Triangle
TSX VENTURE: TUO
VANCOUVER, British Columbia, Nov. 08, 2016 (GLOBE NEWSWIRE) -- Teuton Resources Corp. (“Teuton”) (TSX-V:TUO) (Frankfurt:TFE) (OTCBB:TEUTF) is pleased to announce that a zone of porphyry copper-gold mineralization has been intersected in drilling on its 100%-owned Del Norte property, situated 30km east of Stewart, BC in the Golden Triangle region of northwestern British Columbia.
The 2016 exploration program at the Del Norte property targeted four distinct areas. One of these was located 150m north of a site drilled in 2014 from which four holes returned copper-gold mineralization over intervals varying from 71m to 140m. Weighted average content of these four, 2014 intervals was 0.077% copper and 0.29g/t gold.
Three holes, all from the same pad and oriented facing west, were drilled into this target in 2016. All three holes began in unaltered volcanics changing within a 100m to altered volcanics/intrusives containing pyrite accompanied by varying amounts of chalcopyrite. Two of the holes encountered a zone marked by strong pyrite, k-feldspar and sericite alteration, minor quartz veining and more abundant chalcopyrite. All holes bottomed in similar mineralization with the intensity of the alteration appearing to increase with depth.
Hole DN-16-05, the steepest of the three drilled at this location (-72 degrees), returned the best grades: a 74.2m intersection from 264.6 to 338.8m averaged 0.15% copper and 0.27 g/t gold. This hole had double the copper content of the 2014 holes. A 10.7m interval included in this intersection, from 284.9 to 296.6m, ran 0.31% copper and 0.37 g/t gold.
Hole DN-16-03, drilled at -60 degrees, intersected a 78.9m interval from 258.5 to 337.4m grading 0.09% copper and 0.20 g/t gold. This intersection corresponds well with the deeper intersection in Hole DN-16-05. The third hole from this set-up, #DN-16-04 at -45 degrees flattened out to a -30 degree dip at the hole end and was not drilled deep enough to encounter the same zone intersected by Holes #3 and #5.
After the three holes were completed, Simcoe Geophysics ran a magnetotelluric survey over and beyond this target area. Preliminary profiles have been received which show much higher zones of conductivity adjacent to the area drilled. Simcoe’s geophysicist plans to incorporate all relevant geological data, including the remaining holes drilled in 2016 (as well as nearby holes drilled in 1992 and 2014), before completing a final report. The report should be ready early in 2017.
D. Cremonese, P.Eng, President of Teuton, commented as follows: “There has been speculation for over thirty years that a porphyry copper system underlies the Del Norte property. Based on previous work, including soil and silt geochemistry, mapping of alteration patterns and diamond drilling, the area within which such a system could be found is at least five square kilometres in size. The 2016 drill results in themselves are encouraging, but more work will be necessary to define the location of the potential higher grade core of such a porphyry system. Typically, copper grades improve as one goes from the outer shell into the more mineralized center and it is likely that the current drill holes are still in the outer, pyritic shell. Final analysis of the magnetotelluric survey results should help to define zones where mineralizing intensity is greatest, showing us where to drill in 2017.”
Assays for the three other target areas selected for drilling in 2016 in the Del Norte property are still awaited.
Quality control procedures in place include the field insertion of blanks and standards into the sample stream. Analytical work was done by Loring Laboratories of Calgary, BC, an accredited facility. The technical data in this news release was reviewed by D. Cremonese, P.Eng., Teuton’s Qualified Person as defined by National Instrument 43-101. Mr. Cremonese, P.Eng. is the President of Teuton and is not independent of the Company.
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. Ten of its properties are currently under option and cash proceeds from these options have exceeded $1 million in the past eighteen months (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.
“Dino Cremonese, P.Eng.”
President, Teuton Resources Corp.
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.