VANCOUVER, British Columbia, Jan. 10, 2018 (GLOBE NEWSWIRE) -- Teuton Resources Corp. (“Teuton” or “the Company”) (TSX-V:TUO) (FRANKFURT:TUC) is pleased to report another excellent intersection of gold mineralization on the Treaty Creek property, situated north of the KSM property of Seabridge Gold 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 Corp. is the Operator.
CB-17-12, a step-out hole drilled this year in the northeastern extension area of the Copper Belle zone, intersected several mineralized zones where the most significant was 90.5 meters of continuous mineralization grading 1.21 g/t gold from 24 to 114.5 meters depth, including an intercept of 70.5m grading 1.47 g/t gold from 31.5 to 102 m. Hole CB-17-12 was a 564m hole that was collared adjacent to the west side of Treaty glacier in an area freshly exposed by melt-back of ice. Hole CB 17-12 is 110 meters south of a hole drilled in 2016: CB-16-03—which graded 58 meters from 88 to 146 meters of 1.11 g/t Au and 122 meters from 304 to 426 meters of 0.97 g/t Au. (See map—URL at end of release).
Drill results for hole CB-17-12 are summarized in the table below:
|Hole-ID||From (m)||To (m)||Interval (m)*||Au (g/t)||Ag (g/t)||Cu (%)|
*True widths of the mineralization have not been determined.
Walter Storm, President and CEO of Tudor Gold stated: “We are delighted to start the New Year with additional encouraging results from our 2017 exploration program at Copper Belle. The long intercepts of gold/silver mineralization starting near surface, continue to demonstrate the pervasiveness of this gold system with excellent grades to date that are open at the south and north extensions. More assays have been received and should be available within one week.”
Tudor Gold’s 2016 Magnetotelluric Geophysical Survey program (MT Survey) was effectively utilized as a guide for the 2017 drill program. The MT Survey suggests that the mineralization continues to the southwest, toward the Iron Cap deposit of Seabridge Gold Inc. The MT Survey also suggests that the mineralized zone is open along strike and to depth. Tudor Gold’s 2017 drill program was located five kilometers north of Seabridge Gold’s Iron Cap deposit and Tudor Gold intends to step out to the south in its 2018 program to see if it confirms a relationship between the two areas.
Drill hole samples were assayed by Activation Laboratories Ltd. in Kamloops, BC. Analytical accuracy and precision are monitored by the submission of blanks, certified standards and duplicate samples inserted at regular intervals into the sample stream by Tudor Gold personnel. Activation Laboratories quality system complies with the requirements for the International Standards ISO 17025: 2005. The main technical data in this news release was reviewed by James McCrea, P.Geo., Tudor Gold’s geologist.
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 but believes that it is reliable.
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. Eleven 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.