Teuton Resources: Exploration Update - Golden Triangle Properties
TSX VENTURE: TUO
October 2, 2018 / TheNewswire - Teuton Resources Corp. ("Teuton" or "the Company") ("TUO"-TSX-V) ("TUC"- Frankfurt) is pleased to provide the following update concerning exploration over 14 of its properties in the Stewart region, the most precious metal rich portion of British Columbia's famous Golden Triangle.
Targets on both the Pearson and Mach properties were drilled in 2018. Core has now been fully logged and diamond sawed, and samples have been sent to Activation Laboratories in Kamloops, BC. Results are expected within six to eight weeks.
A Geotech ZTEM airborne survey consisting of over 1,140 line-kms was flown over three separate areas involving over 10 properties owned by Teuton, chief among which are the Pearson-Mach, Tennyson and Del Norte-Konkin Silver properties. Preliminary results have now been received from Geotech and are summarized, below.
In the area of known mineralization in the southwest portion of the Pearson-Mach survey, ZTEM has identified several conductive anomalies associated with magnetic lows. These signatures are interpreted as being consistent with strongly clay-altered and magnetite-depleted epithermal gold zones. In the southeast corner of this survey, Conductive-Mag low and also Conductive-Mag high anomalies were discerned. The latter could represent massive sulphide or BIF (Banded Iron Formation) gold mineralization. A parallel ZTEM survey conducted over the Tennyson property indicated similar epithermal or possibly porphyry copper targets.
The Geotech ZTEM survey conducted over Teuton's Del Norte property, including extensions into the Midas and Konkin Silver properties to the south and the Lord Nelson property (under option to Sojourn Ventures) to the north, showed indications of nine anomalous areas (see figure below). These conductive anomalies lie along well-defined north-south structures associated with magnetic lows, consistent with strongly clay-altered and magnetite-depleted epithermal gold zones. Also identified are weakly conductive east-west lineaments potentially representing cross-cutting structures, also known to be important in epithermal gold deposits. Many of the anomalous areas are coincident with known mineralized occurrences and in certain cases suggest mineralization may be more extensive than noted.
It should be pointed out that these interpretations are very preliminary in nature. Processing of 2D and 3D inversions is currently under way which will provide a much more rigorous assessment of the geophysical signatures. Once this work is completed and results are correlated with data from previous work on the properties it is expected that many new drill targets will be defined.
[The area outlined in red, above, consists of the Del Norte and Horatio properties. The area to the south is covered by Teuton's Midas and Konkin Silver properties, and the eastern portion of the Gold Mountain property. The area to the north is the Lord Nelson property, under option to Sojourn Ventures.]
At least fourteen separate properties were examined by Teuton prospecting crews this summer, headed by geologist Ken Konkin. Many samples were taken, often of new mineral occurrences. These have been shipped to Kamloops to await analysis.
Due to the lateness of the season, the Company was unable to contract mountaineering geologists to examine the area on the Pearson in which massive sulfide mineralization was discovered. This work has been postponed until 2019.
D. Cremonese, P.Eng. is the Qualified Person for the purposes of this news release. As president of Teuton, he 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 are just under $2 million since 2015, 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.