Teuton Resources Corp.: Golden Triangle Exploration Update
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/10/12 -- Teuton Resources Corp. ("Teuton") (TSX VENTURE: TUO) (FRANKFURT: TFE) (OTCBB: TEUTF) is pleased to provide the following update on its exploration activities in the Eskay Creek-Sulphurets-Premier region of northwestern British Columbia (the "Golden Triangle"), located north of the deep-sea port of Stewart.
Drilling is continuing on Teuton's 100%-owned High property, situated due south of the Brucejack property of Pretium Resources, where nine drills are currently exploring the Valley of the Kings gold zone and peripheral occurrences. At the first pad a hole has now been completed to a depth of 618 metres (2,027 feet) and all core has been sent in for assaying. The drill was collared in highly sheared clastic sediments and aimed at intensely quartz-sericite-pyrite altered coarse fragmental volcanics, situated about 20m to the southeast. Surface prospecting of the volcanics has shown abundant malachite stain, some from oxidation of chalcopyrite and some from tetrahedrite. Heavily pyritized veins were observed on surface in the volcanic rocks, which in places are also mineralized with galena. On the second pad, located in the southern portion of the High property, another hole has been completed to a depth of 466 meters (1,530 feet). This pad is testing a zone of surface gold mineralization discovered in 2011 from which grab samples returned values ranging from 1 to 6 g/t gold.
Immediately to the southeast of the High property, Rotation Minerals will be carrying out a drill program in the next few days on the Four J's property, held under option from Teuton Resources. Rotation has built a road to the Four J's and plans to drill the Main zone, where sedex style lead-zinc-silver-gold mineralization has been trenched in the past. A very sharp EM anomaly is located just west of the Main zone and may also be tested during the program. Rotation can earn a 50% interest in the property by spending $1,800,000 and paying $180,000 to Teuton over the term of the option; it has a further option to earn an additional 20% interest by taking the property to feasibility.
Further to the south, Brigade Resources, a private Hunter Dickinson company, has completed its 2012 field program on Teuton's Tennyson property, wherein extensive porphyry copper-gold mineralization was discovered during a comprehensive drill program undertaken by Teuton in 2011. Results of Brigade's program are not yet known. Brigade is the optionee of the property and must spend $6 million and pay $300,000 to Teuton over four years to earn a 50% interest in the Tennyson.
On Teuton's Clone property, owned jointly with Silver Grail Resources and under option to Canasia Industries, a program of bulk sampling has commenced, extending the program first started in 2010 and continued through 2011. In 2010, 102 tons were extracted averaging 4.0 oz/ton gold. A three man blasting crew is currently on the property.
In mid-September, a crew is scheduled to go into both of the Company's Red Chris area properties to carry out soil sampling on targets defined by an airborne survey.
The Qualified Person for the purposes of this news release is D. Cremonese, P.Eng.
Respectfully:
Dino Cremonese, P.Eng.,
President, Teuton Resources Corp.
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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.
202-2187 Oak Bay Avenue
Victoria, BC V8R 1G1
(604) 682-3680 or Toll Free: 1-800-879-2333
682-3992 (FAX)
www.teuton.com
