VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 6, 2014) - Teuton Resources Corp. ("Teuton") (TSX VENTURE:TUO)(FRANKFURT:TFE)(OTCBB:TEUTF) is pleased to report plans are being developed for 2014 exploration on its High property, located 50km north of Stewart, British Columbia in the Golden Triangle. The Company intends to carry out extensive reconnaissance surveys over the large High property to be followed up with drilling of identified targets, contingent upon obtaining necessary permits and financing.
In 2013 the BC Geological Survey carried out investigations in the region of the High property, culminating in Paper 2014-1, pp 111-140, by J. Nelson and J. Kyba, entitled "Structural and stratigraphic control of porphyry and related mineralization in the Treaty Glacier - KSM - Brucejack - Stewart trend of western Stikinia". This work focused on the McTagg anticlinorium and its relation to the many deposits which are presently being developed in the area. All five of the deposits on Seabridge Gold's KSM property-the Iron Cap, Mitchell, Sulphurets, Kerr and Deep Kerr-are thought to be related to the Sulphurets thrust fault, a major structural feature traversing the KSM property. Notably, the BC Geological Survey has now extended this fault southward about 8 km into Teuton ground (see map). This highly prospective feature will be one of the principal focuses of the 2014 reconnaissance work.
Nelson and Kyba state that: "The Treaty Glacier-KSM-Brucejack-Stewart trend is one of the most productive and promising in northwestern British Columbia". Exploration carried out over the past ten years in the KSM-Brucejack portion of this trend resulting in the discovery of many large mineral deposits confirms this statement. The Mitchell deposit is a behemoth with proven reserves of 473 million tons grading 0.67 g/t gold and 0.17% copper, and probable reserves of 935 million tons grading 0.57 g/t gold and 0.16% copper. Seabridge Gold very recently released an inferred resource estimate for its new Deep Kerr deposit of 515 million tonnes grading 0.36 g/t gold and 0.53% copper. Just east of the Sulphurets fault and lying alongside the Brucejack fault is the very rich Valley of the Kings deposit of Pretium Resources. It boasts 1.2 million ounces of gold in the measured mineral resource category (two million tonnes grading 19.3 g/t gold); 7.5 million ounces of gold in the indicated mineral resource category (13.4 million tonnes grading 17.4 g/t gold); and, 4.9 million ounces of gold in the inferred mineral resource category (5.9 million tonnes grading 25.6 g/t gold). All three of these deposits are world-class in stature.
Teuton has done minimal work to date on its very extensive High property, bordering to the immediate south of Pretium's Brucejack and Seabridge Gold's KSM properties. A one-hole drilling program undertaken in 2012 on the newly discovered King Tut zone located just south of the Pretium-Teuton border resulted in an intersection running 222m of 0.88 g/t gold. This intersection compares well with the average intersections obtained in the first ten holes drilled by Pretium into their Bridge deposit, located less than 2km to the north. Numerous gossanous zones lying just to the southwest of the King Tut (on Teuton ground) remain to be fully investigated.
A literature search conducted over the 2013-14 months has disclosed details of an old prospecting traverse on Seabridge Gold's ground located a few hundred meters north of the common boundary between the KSM and High property (see map). Rock geochemical samples taken along this traverse carried anomalous copper values of the same magnitude as those found over what is now the Kerr deposit and may possibly indicate the presence of another porphyry system. Teuton plans to investigate this area in 2014 for potential extensions of the suggested porphyry-type mineralization onto its High property.
All zones of gossanous rock located on both sides of the southward extension of the Sulphurets fault are to be investigated. A cluster of these occurrences lies along the highly altered Orion nunatak completely controlled by Teuton claims. Past work has identified high-grade gold values in one part of this nunatak (Cat-in-the-Hat showing). To the east, in the area of the High South target, further work is planned on an area where chalcopyrite mineralization was found in 2011. Prospecting in this area uncovered gold values ranging from 0.74 to 47.8 g/t gold. The area was not drilled due to an overhanging glacier which may now have receded enough to carry on additional work.
Plans for further work on the porphyry copper-gold Tennyson claims (adjoining the High property to the south) upon which Brigade Resource spent up to $4 million in 2013, will be announced when and if legal documents arranging for its return to Teuton have been completed.
In other developments, the Company has recently been notified by Redhill Resources that it will not be continuing with its option on a portion of the Yellow Chris claims, located in the Red Chris area east of the town of Iskut.
The Qualified Person for the purposes of this news release is D. Cremonese, P.Eng., who, as President and CEO, is not independent of the Company.
To view the map accompanying this press release, please visit the following link:
|"Dino Cremonese, P.Eng."
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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.
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