Teuton Resources: Pearson Property Copper Assays; Treaty Creek Property Gold Assays
TSX VENTURE: TUO
VANCOUVER, British Columbia, Sept. 18, 2017 (GLOBE NEWSWIRE) -- Teuton Resources Corp. (“Teuton” or “the Company”) (TSX-V:TUO) (Frankfurt:TFE1) is pleased to announce that partial assay results for sampling conducted in 2017 on its 100% owned Pearson property have been received. The Pearson property is situated 20km south-southwest of Seabridge Gold’s prolific KSM property (host to the world’s largest reserves of copper and gold) in the Golden Triangle region of northwestern British Columbia.
Prospecting began in early August and concentrated on two areas. The first was an area where extensive green copper stains were apparent in cliff faces, close to a large geophysical anomaly discovered in 2010 during an airborne survey. Malachite and magnetite bearing samples taken from float found directly below the cliff faces averaged 1.63% copper and >15% iron. The character of the rock and the grades suggest that Granduc-type Besshi mineralization occurs in the cliff faces (petrographic studies will be undertaken to definitively ascertain whether these samples come from a Besshi occurrence). The formerly producing Granduc copper mine, British Columbia’s second largest Besshi occurrence after Windy Craggy, is located 3km southwest of the Pearson property. Various grab samples taken from other structures identified on the Pearson claims, mostly either quartz veins or diorite, ranged from trace to 8.57% copper, trace to 0.07% cobalt, trace to 16.7% zinc, trace to 29.2% lead, trace to 451 g/t silver, and trace to 12.7 g/t gold.
On the Pearson North property, Teuton personnel discovered a zone which contained multiple occurrences of malachite and azurite. Many vein samples were taken from carbonate altered areas found mostly within the malachite rich zone which ran trace to 7.06% copper, 0.2 to 321 g/t silver and 0.05 to 68.69 g/t gold (2.01 oz/ton gold).
D. Cremonese, P.Eng., President of Teuton, commented as follows: “I am very pleased with the sampling results to date. As the next step, we are planning a high-resolution airborne geophysical survey to better define drill targets (upon receipt of positive petrographic studies). This survey will also be conducted over the promising North Pearson discovery.”
Treaty Creek Property Drill Results
Teuton is also pleased to announce that more high-grade, gold-bearing assays have been received from drilling of the HC zone on the Treaty Creek property, situated north of the KSM property of Seabridge Gold and the Brucejack property of Pretium Resources in the Golden Triangle region of northwestern British Columbia. Teuton holds a 20% carried interest in the property (carried until a production decision is made) as well as various NSR interests.
Tudor Gold, operator of the Treaty Creek project and 60% owner, recently reported an additional four holes from the HC zone.
Walter Storm, President of Tudor Gold stated: "We are very pleased with the results so far. We were attracted to the Treaty Creek project by the clear potential for extensive mineralized zones on our claims, and the results from the HC zone within the GR2 claim block have exceeded our expectations.”
Highlights from the reported holes are presented in the following table (a complete listing of assay results can be obtained by referencing the Tudor Gold News Release dated September 14, 2017, available on Sedar):
|Table 1. Highlights From First Five holes into HC Zone|
Results from the HC zone suggest that the mineralization is part of a precious metal rich, VMS system, similar in certain respects to that at the nearby Eskay Creek mine. Gold values are found within feeder veins and a vent zone and as stratiform mineralization within mudstones.
Dino Cremonese, P.Eng., President of Teuton stated: “I happened to be visiting the Treaty Creek property on the day that Tudor Gold released the results from the additional four holes. While there, I had the opportunity to listen in to a conversation between Tudor Gold geologist Raul Sanabria and another noted geologist from the Golden Triangle. I was shown the feeder and vent zones as well as the stratiform sulphides in mudstone in several of the holes that had already been reported. I also saw some of the holes that are currently being assayed. My impression from everything was quite positive.”
The technical data in this news release as concerns Treaty Creek was derived from data reviewed by Raul Sanabria, M.Sc., P.Geo, EurGeol, Tudor Gold’s Exploration Manager and Qualified Person for the 2017 Treaty Creek field season. The Qualified Person for this news release is Dino Cremonese, P.Eng., who as President of Teuton is not independent of the Company. Mr. Cremonese has not verified the accuracy of the technical data prepared by Tudor Gold but has no reason to doubt its accuracy. Samples taken by Teuton Personnel were assayed by SGS Mineral Services of Burnaby, BC, an accredited facility. Standard QA/QC practices were applied to the Teuton sampling.
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 $1.45 million in the past two years, 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.