Teuton Resource Corp.: Airborne Geophysical Survey Planned over Pearson-Mach-Big Gold-Eskay Rift-Powder Properties
TSX VENTURE: TUO
VANCOUVER, British Columbia, Feb. 20, 2018 (GLOBE NEWSWIRE) -- Teuton Resources Corp. (“Teuton” or “the Company”) (TSX-V:TUO) (Frankfurt:TUC) is pleased to report that it intends to carry out a ZTEM airborne survey over its Pearson-Mach-Big Gold-Eskay Rift-Powder properties.
The Pearson and surrounding properties lie about 20km to the south-southwest of Seabridge Gold’s prolific KSM property, home to the world’s largest reserves of copper and gold. The former Granduc copper mine, British Columbia’s 2nd largest Besshi deposit after Windy Craggy, is situated 3km to the southwest. Garibaldi Resources’ E&L nickel prospect, subject of intense exploration interest in 2017, lies 38km to the northwest along the path of the South Unuk/Harrymel Fault (which coincides with Kyba’s “Red Line”). Both Garibaldi’s E&L property and Teuton’s Pearson property lie within gravity highs (see figure entitled Gravity Anomaly Map—URL at end of release).
Teuton presently owns a 100% interest in the Pearson and adjoining properties.
In early 2013 the previous owner of the Pearson property (Castle Resources) had an independent consulting company (Caracle Creek International Consulting) model and interpret a series of EM anomalies on the Pearson property as defined by an earlier VTEM airborne survey. The resulting work identified a major, 2+km long EM target. The target was scheduled for drilling by Castle in 2013 but due to unknown circumstances this was not done. In 2015, 100% ownership of the Pearson property reverted to Teuton.
[Readers are cautioned that Teuton’s Qualified Person, D. Cremonese, P.Eng., has not independently verified either the collection of the geophysical data or the modelling/interpretation of it. However, he has no reason to believe that it is not reliable. As President of Teuton Resources, Mr. Cremonese is not independent of the Company.]
New Area of Green/Blue Copper Stain
Prospecting carried out in 2017 to the north of the Pearson property on the Mach 3 claim resulted in the discovery of a kilometer long zone carrying numerous instances of green-blue, malachite and azurite stain. Local veins and breccia occurrences have carried gold values running from trace to 68.7 g/t gold. Pervasive pyrite mineralization along with copper staining and alteration suggest that this area may represent the top of a porphyry copper system.
Exploration Plans for 2018
Teuton is soliciting bids for a ZTEM airborne geophysical survey to be flown over the Pearson-Mach region (as well as the neighbouring Tennyson claims). ZTEM is a useful tool for defining the alteration common around porphyry systems as well as identifying large and deep EM targets.
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.
“Dino Cremonese, P.Eng.”
President, Teuton Resources Corp.
For the Gravity Anomaly Map go to: Click Here
For a write-up on the Pearson anomaly, adjoining Mach 3 claims, photos, drone video, and plan map of the proposed airborne survey go to: http://teuton.com/properties/pearson/
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.
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information contained herein.