Teuton Resources Announces that Joint Partner Tudor Gold has Initiated Permitting for Construction of Underground Exploration
Teuton Resources Corp. ("Teuton" or "the Company") ("TUO"-TSX-V) ("TFE"- Frankfurt) is pleased to report that Joint Venture ("JV") partner Tudor Gold ("Tudor") has announced that it has initiated the permitting process for the construction of approximately 3,000 meters of underground development to provide an exploration ramp for targeting the Supercell Cell One Zone (SC-1) with infill and expansion drilling, at the JV's Treaty Creek Project, located in the heart of the Golden Triangle of Northwestern British Columbia [see January 13, 2025 News Release by Tudor Gold]. Teuton Resources holds a 20% carried interest in the JV (carried until a production notice is given) as well as a 0.98% NSR in the Goldstorm deposit.
Ken Konkin P.Geo, President & CEO of Tudor Gold commented, "We are excited to move forward with plans to explore the high-grade underground Supercell One targets at the Treaty Creek Property through the construction of an underground exploration drift. This initiative is expected to substantially reduce both the cost and time required to drill and define the Supercell One Zone by utilizing underground drilling stations compared to conventional surface drilling. In addition to assisting the exploration goals, once completed, management believes that the underground infrastructure should provide long-term benefits to the project, potentially serving as a Fresh Air Raise or Return Air Raise to support future production mining of the high-grade Supercell One Zone and/or the CS600 Zone. Additionally, the underground development will be important in the selection of optimum material required for a 10,000-tonne test for a pilot process, which would be required for a Feasibility Study. The advantages of driving an exploration development ramp are significant and this initiative is expected to bring substantial value to our Project."
Furthermore, Ken Konkin, stated, "The 2024 drilling results from the SC-1 Zone have been highly encouraging, corroborating the continuity and high-grade nature of gold mineralization in an area which is structurally and geologically analogous to Newmont Corp.'s Brucejack gold deposit that was discovered in 2010. Once the underground exploration drift is completed, a year-round drilling program of approximately 25,000 meters is expected to focus on the Supercell One Zone and peripheral areas to further define the extent and geometry of the high-grade gold mineralization, which remains open along strike and up and down plunge. The objective is to accelerate the drilling program with the goal of fully unlocking this potential multi-million-ounce high-grade gold system. The Supercell System discovery was confirmed by several of the holes from last year's drilling program, however none of the results are included within the February 2024 Mineral Reserve Estimate of 27.9 million ounces of AuEq averaging 1.19 g/t AuEq (see press release dated, February 20, 2024). We believe that the high-grade Supercell System is a major pivotal point in the evolution of the Goldstorm Deposit.
To date, over 10,000 meters of drilling have targeted the Supercell One Zone, which appears to be on its way to becoming a major asset within the Goldstorm Deposit. The exploration drill campaign planned for the Supercell One Zone and the remainder of the Goldstorm Deposit is expected to further enhance this potential. The development of the underground exploration marks an important stage for Tudor Gold and its Treaty Creek Project, and we look forward to the opportunities this advancement will bring.
Management believes that the proposed permitting of an underground exploration drift designed by Tudor Gold's engineering consultant, Fuse Advisors, should greatly enhance what is already a large gold-copper-silver deposit. Management is optimistic that this initiative is likely to assist in attracting a strategic partnership with an experienced mining company that has the technical expertise and financial capacities to assist Tudor Gold in advancing the Treaty Creek Project."
Figure 1. Plan Map of Proposed Underground Development Targeting SC-1 High-Grade Gold Zone
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Figure 2. Long Section - Supercell One High-Grade Gold Drill Target
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About the Supercell-One Zone
The SC-1 discovery, confirmed during the 2024 exploration program, represents a significant potential economic target that is within, and peripheral to, the CS-600 Domain. The gold-rich SC-1 system consists of four stacked, sub parallel structures within an area measuring up to 800 m in length by 400 m in depth. All four stacked, sub-parallel structures remain open in all directions and to depth. The results that confirmed the discovery of the SC-1 Zone which followed up the initial pre-2024 drilling that originally encountered a single 5 to 10-meter-wide interval of quartz-pyrite-gold micro-breccia structures superimposed or overprinted on the gold-copper-rich CS-600 Domain. Visual inspection of the drill core indicated consistent gold mineralization within the series of late-stage, gold-dominant, quartz-pyrite micro-breccia structures. In addition to expanding the size of the known high-grade mineral horizons, management believes that significant potential exists to discover more supercells within known domains and subparallel to the four newly discovered micro-breccia systems.
Table 1. Drill highlights from the nine holes targeting the SC-1 area:
Zone | Hole | From | To | Interval | Au | Ag | Cu | AuEQ | ||
(m) | (m) | (m) | (g/t) | (g/t) | (%) | (g/t) | ||||
SC-1A | GS-24-181 | 810.00 | 812.00 | 2.00 | 8.97 | 3.73 | 0.01 | 9.02 | ||
GS-24-183-W1 | 283.50 | 289.50 | 6.00 | 6.44 | 26.62 | 0.04 | 6.76 | |||
GS-24-186 | 787.50 | 789.00 | 1.50 | 9.78 | 22.46 | 0.02 | 10.40 | |||
SC-1B | GS-24-181 | 886.50 | 889.50 | 3.00 | 8.28 | 126.50 | 1.21 | 11.05 | ||
GS-24-183-W1 | 423.60 | 429.90 | 6.30 | 4.26 | 224.59 | 5.96 | 13.89 | |||
GS-22-134 | 1215.00 | 1219.50 | 4.50 | 4.26 | 3.03 | 0.07 | 4.37 | |||
GS-23-176-W1 | 181.50 | 204.00 | 22.50 | 2.76 | 15.39 | 0.18 | 3.13 | |||
GS-23-170 | 1017.00 | 1036.50 | 19.50 | 4.12 | 6.83 | 0.08 | 4.29 | |||
SC-1C | GS-22-134 | 1474.50 | 1500.00 | 25.50 | 9.66 | 1.23 | 0.24 | 9.96 | ||
GS-23-176-W1 | 451.50 | 466.50 | 15.00 | 14.89 | 4.72 | 0.60 | 15.64 | |||
GS-23-179 | 1129.50 | 1141.50 | 12.00 | 9.78 | 1.35 | 0.23 | 10.07 | |||
GS-24-187 | 919.50 | 922.50 | 3.00 | 10.89 | 0.97 | 0.02 | 10.92 | |||
GS-24-181 | 1095.00 | 1101.00 | 6.00 | 5.02 | 3.32 | 0.21 | 5.31 | |||
GS-24-183-W1 | 609.00 | 618.00 | 9.00 | 5.08 | 1.24 | 0.02 | 5.12 | |||
GS-22-151-W1 | 1024.50 | 1032.00 | 7.50 | 3.96 | 3.85 | 0.08 | 4.10 | |||
SC-1D | GS-24-185 | 880.50 | 894.00 | 13.50 | 9.58 | 0.44 | 0.01 | 9.60 | ||
GS-24-184 | 953.85 | 960.00 | 6.15 | 5.44 | 63.77 | 1.62 | 8.09 | |||
GS-24-187 | 975.00 | 978.00 | 3.00 | 5.65 | 0.95 | 0.03 | 5.70 | |||
· All assay values are uncut and intervals reflect drilled intercept lengths. | ||||||||||
· HQ and NQ2 diameter core samples were sawn in half and typically sampled at standard 1.5 m intervals. | ||||||||||
· The following metal prices were used to calculate the Au Eq metal content: Gold $1850/oz, Ag: $21/oz, Cu: $3.75/lb. Calculations used the formula AuEQ = Au g/t + (Ag g/t*0.0100901) + (Cu ppm*0.0001236). All metals are reported in USD and calculations consider recoveries of 90 % for gold, 80 % for copper, and 80 % for silver. | ||||||||||
· True widths have not been determined as the mineralized body remains open in all directions. Further drilling is required to determine the mineralized body orientation and true widths. |
Figure 3. Drill Results from the SC-1 Zone within the Goldstorm Deposit.
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The Supercell-One system remains open to the northwest, north, and east. Tudor Gold plans to further explore this higher-grade system and review other gold-dominant sub-domains as part of the Company's strategy to expand the high-grade gold potential of the Goldstorm Deposit. Such areas as R-66 and 300N show similar structural characteristics and are composed of similar gold-rich quartz-pyrite micro-breccia veinlets.
Tudor Gold is aiming for a scenario whereby the SC-1 Zone provides a potential path towards developing a large, multi-generational project that begins with a high-grade underground starter operation and expands into a substantial block-cave underground copper-gold-silver production.
QA/QC
Diamond drill core samples were prepared at MSA Labs' Preparation Laboratory in Terrace, BC and assayed at MSA Labs' Geochemical Laboratory in Langley, BC. Analytical accuracy and precision are monitored by the submission of blanks, certified standards and duplicate samples inserted at regular intervals into the sample stream by Tudor Gold personnel. MSA Laboratories quality system complies with the requirements for the International Standards ISO 17025 and ISO 9001. MSA Labs is independent of the Company.
QA/QP
Ken Konkin, P.Geo, President and CEO, Tudor Gold, is the Qualified Person, as defined by National Instrument 43-101, responsible for the Project. Mr. Konkin has reviewed, verified, and approved the scientific and technical information in the January 13, 2025 news release by Tudor Gold.
Technical information as presented in this news release by Teuton Resources is consistent with that published in the Tudor Gold release of January 13, 2025. D. Cremonese, P. Eng., is the QP for Teuton Resources; as President and CEO of Teuton he is not independent of the Company. Mr. Cremonese has not verified the technical information in the Tudor Gold release of Jan. 13, 2025..
About Treaty Creek
Teuton was the original staker of the Treaty Creek property, host to the large Goldstorm deposit, assembling the core land position in 1984-5. It presently holds a 20% carried interest in the Treaty Creek Project (Tudor Gold is responsible for paying all exploration costs up until such time as a production decision is made and owns a 60% interest; American Creek Resources owns the remaining 20% interest, also carried). Additionally, Teuton owns a 0.98% Net Smelter Royalty in the Goldstorm deposit area as well as in the northern portion of the Perfectstorm zone; within the southern portion of the Perfectstorm zone, Teuton owns a 0.49% NSR with an option to increase that to 1.49% by paying $1 million to the current owner. It also owns numerous additional royalty interests within the Sulphurets Hydrothermal system on formerly 100%-owned properties such as the King Tut, Tuck, High North, Orion, Delta and Fairweather properties (King Tut and Tuck now owned by Newmont Mining; High North, Orion, Delta and Fairweather properties now owned by Goldstorm Metals).
The Treaty Creek Project not only contains the Goldstorm Deposit (a large gold-copper porphyry system) it also hosts several other prospective zones of mineralization lying along a north-northeast trending axis centred around the Sulphurets thrust fault. This thrust fault is spatially related to all of the porphyry deposits on the neighbouring KSM property (owned by Seabridge Gold) as well as the Treaty Creek property. These other zones at Treaty Creek include the Perfect Storm, Calm Before the Storm and the Eureka.
About Teuton
Teuton owns interests in more than thirty properties in the prolific "Golden Triangle" area of northwest British Columbia and was one of the first companies to adopt what has since become known as the "prospect generator" model. This model minimizes share equity dilution while at the same time maximizing opportunity. Earnings provided from option payments received, both in cash and in shares of the optionee companies over the past 8 years, has provided Teuton with substantial income.
ON BEHALF OF THE BOARD OF DIRECTORS OF TEUTON RESOURCES:
"Dino Cremonese"
Dino Cremonese, P. Eng.,
President and Chief Executive Officer
For further information, please visit the Company's website at www.teuton.com or contact:
Barry Holmes
Director Corporate Development and Communications
Tel. 778-430-5680
Email: bholmesmba@gmail.com
Neither the 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.
Cautionary Statements regarding Forward-Looking information
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially.
All statements relating to future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.