ZTEM Airborne Survey (Geotech) To Be Flown Over Teuton’s Del Norte, Tennyson and Pearson-Mach Properties
TSX VENTURE: TUO
VANCOUVER, British Columbia, March 26, 2018 (GLOBE NEWSWIRE) -- Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) ("TUC"- Frankfurt) is pleased to report that it has signed a contract with Geotech Ltd., one of Canada’s leading airborne geophysical companies, to carry out a ZTEM survey over its Del Norte, Tennyson and Pearson-Mach properties. Altogether 1,143 line-kilometres will be flown at three separate locations within the Stewart region, in the southern portion of British Columbia’s Golden Triangle. Start-up for the project is estimated to occur anytime from April to June of 2018.
Teuton presently owns a 100% interest in all three properties.
D. Cremonese, P.Eng., President, commented as follows: “We are pleased to begin the 2018 exploration year with an aggressive airborne geophysical program employing the latest ZTEM technology over three of our most prospective areas in the prolific Golden Triangle region (Teuton owns interests in over thirty properties in this promising region, many of them held for more than 30 years). Geotech’s ZTEM system was specifically designed to map large base metals deposits, such as porphyry copper and sedimentary exhalative orebodies, but it has also been successfully used for larger VMS deposits and large magmatic nickel deposits. ZTEM will potentially help in two ways at the Pearson-Mach: one, it will determine whether alteration patterns conformable with a porphyry system exist on the Mach and surrounding claims; and, two, it will provide an alternative and much deeper look at the major, 2+km EM anomaly on the Pearson. The immediate region—which includes the former Eskay Creek gold-silver mine, Garibaldi Resources E&L nickel prospect, Seabridge Gold’s giant KSM porphyry copper-gold deposits and Pretium Resource’s new high-grade gold start-up, the Valley of the Kings mine—is the logical place to be looking for “elephants”. This system seems to be the perfect tool to that end.”
Del Norte property
The Del Norte property is located 27km east of Stewart, BC. Three streams cut through the property from west to east, all of them carrying placer gold. Vein, breccia, massive sulfide and porphyry styles of mineralization have been found in previous fieldwork by Teuton from 1985 to 2017.
The most recent exploration efforts at Del Norte have concentrated on its potential to host a porphyry copper-gold deposit. Geotech’s ZTEM system is ideally suited for porphyry copper-gold mineralization based on its ability to map weak resistivity contrasts associated with porphyry alteration systems, as well as for its ability to penetrate much deeper than conventional VTEM.
The Tennsyon property is an established porphyry copper-gold prospect lying 15km south of the KSM property of Seabridge Gold, host to the world’s largest reserves of copper and gold contained within four large deposits (Kerr, Sulphurets, Mitchell and Iron Cap). Drilling by Teuton in 2011 and subsequently by Brigade Resources (a Hunter Dickinson company) under option in 2013 at the Tennyson successfully outlined an area over 450m long and up to 180m deep carrying typical porphyry copper-gold grades. Brigade subsequently dropped the option in 2014 on the heels of falling copper prices and a 100% interest in the property was returned to Teuton.
Geotech flew ZTEM over a section of the world-class Pebble calc-alkalic copper-gold molybdenum porphyry deposit located in the Bristol Bay region of southwest Alaska in 2010. Some of the richest parts of the Pebble deposit are buried under up to 600m of volcanic and sedimentary cover. With careful processing, ZTEM was able to identify several of the distinctive alteration haloes found around the porphyry deposits, with more detail at depth than other systems.
It is hoped that Geotech’s ZTEM system can, like it did at Pebble, outline continuations of the Tennyson porphyry by effectively mapping the alteration zones around the known occurrence, as well as pointing out new mineralized zones nearby and at depth.
The Pearson and surrounding properties lie about 20km to the south-southwest of Seabridge Gold’s prolific KSM property and about 3km to the northeast of the former Granduc copper mine, British Columbia’s 2nd largest Besshi deposit after Windy Craggy. 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. Both Garibaldi’s E&L property and Teuton’s Pearson property lie within gravity highs (see Press Release dated Feb. 20, 2018).
A major, 2+km long EM target is situated within the Pearson and preliminary hypotheses suggest that it may be due to another Besshi deposit, similar to that at nearby Granduc. It does not outcrop at surface and has not yet been drilled.
Prospecting carried out in 2017 to the north of the EM anomaly on the Mach 3 claim resulted in the discovery of a kilometre 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.
D. Cremonese, P.Eng., is Teuton’s Qualified Person for the purposes of this news release. As president, Mr. Cremonese 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. 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.
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.
TEUTON RESOURCES CORP.
2130 Crescent Road
Victoria, BC V8S 2H3 di