Teuton Resources Corp.: Drill Program Under Way on High Property
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/22/12 -- Teuton Resources Corp. ("Teuton") (TSX VENTURE: TUO)(FRANKFURT: TFE)(OTCBB: TEUTF) is pleased to report that drilling is under way on its High property, located north of Stewart in the Eskay Creek-Sulphurets-Premier region of northwestern British Columbia (the "Golden Triangle"). The High property adjoins due south of Pretium Resources' Brucejack property, where nine drills are currently exploring the Valley of the Kings and satellite gold zones.
The High drill is currently at a little over 100m depth on the first hole, oriented southeast at a 70 degree dip. Plans are to drill this hole to a depth of 500+m, contingent upon encountering favorable mineralization. The drill was collared in highly sheared clastic sediments and is projected to pass through a contact zone into intensely quartz-sericite-pyrite altered coarse fragmental volcanics, situated about 20m to the southeast on surface. Prospecting of the volcanic unit has shown abundant malachite stain, some from oxidation of chalcopyrite and some from tetrahedrite. Heavily pyritized veins are apparent in the volcanic rocks, which in places are also mineralized with galena. Photographs are available on the Teuton website.
The drill is owned by Hy-Tech Drilling of Smithers, BC, and is on loan from the KSM project of Seabridge Gold, located immediately to the west and northwest of the High claims.
The Qualified Person for the purposes of this news release is D. Cremonese, P.Eng.
Respectfully:
Dino Cremonese, P.Eng., President
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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.
The TSX Venture Exchange has neither approved nor disapproved the information contained herein.
Contacts:
Teuton Resources Corp.
D. Cremonese, P.Eng.
President
(604) 682-3680 or Toll Free: 1-800-879-2333
(604) 682-3992 (FAX)
www.teuton.com
