Teuton Resources Corp.
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Teuton Resources Corp.

December 16, 2013 08:30 ET

Teuton Resources Corp.: Brigade Drills 205m of 0.465% Copper Equiv. at Tennyson

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 16, 2013) - Teuton Resources Corp. ("Teuton") (TSX VENTURE:TUO)(FRANKFURT:TFE)(OTCBB:TEUTF) is pleased to announce that it has received assay results for the 16-hole, multi-million dollar drill program conducted on the Tennyson property this year by Brigade Resources ("Brigade"), a private Hunter Dickinson company. Various targets on the property were tested, including the main porphyry copper-gold zone drilled by Teuton in 2010-11 and a subsidiary zone (the "skarn zone") located 700m to the southeast.

Highlights of drilling include:

  • 205.54m of 0.227 g/t Au and 0.300% Cu (0.465% Cu Equivalent*) in TN13-09 (main zone)

  • 103.62m of 0.129 g/t Au and 0.246 Cu (0.335% Cu Equivalent*) in TN13-12 (skarn zone)

Hole TN13-09 was collared vertically about 200m southwest of the northwest-trending axis of drilling in 2011. Holes TN13-02, 03A, 04A, 05, 06, and 07 tested the potential of the main porphyry copper-gold zone in the area south and southwest of the 2011 drilling (see accompanying map for drill collar locations). A tabulation of significant results from the 2013 drilling program is presented below:

Drill
Hole
Interval
(metres)
Length
(metres)
Silver
(g/t)
Gold
(g/t)
Copper
(%)
Copper
Equiv. *
(%)
TN13-02 1.76 to 18.90 17.14 1.1 0.157 0.295 0.407
61.61 to 134.36 72.75 5.5 0.170 0.249 0.420
incl. 110.06 to 118.46 8.40 1.6 0.250 0.496 0.674
143.90 to 171.34 27.44 1.1 0.091 0.175 0.245
183.54 to 311.59 128.05 1.3 0.256 0.388 0.565
incl. 247.56 to 280.11 32.55 2.3 0.537 0.686 1.054
323.78 to 332.93 9.15 0.6 0.556 0.023 0.384
TN13-03a 64.01 to 97.56 33.55 8.0 0.417 0.157 0.513
112.80 to 128.05 15.25 1.8 0.227 0.241 0.406
164.63 to 246.95 82.32 1.0 0.217 0.216 0.365
Incl. 164.63 to 207.32 42.69 1.1 0.292 0.254 0.452
TN13-04a 90.24 to 96.34 6.10 10.8 2.21 0.021 1.550
154.27 to 190.58 36.31 1.4 0.401 0.035 0.306
TN13-05 114.30 to 245.543 131.13 2.6 0.192 0.173 0.325
Incl. 126.49 to 163.07 36.58 6.8 0.251 0.196 0.433
TN13-06 312.50 to 330.79 18.29 0.7 1.367 0.026 0.903
TN13-07 325.91 to 414.33 88.42 1.9 0.199 0.188 0.336
Incl. 344.21 to 380.79 36.58 2.7 0.208 0.287 0.450
447.87 to 478.35 30.48 0.8 0.201 0.167 0.304
493.60 to 524.09 30.49 0.4 0.102 0.185 0.253
533.23 to 547.68 14.45 0.3 0.095 0.215 0.279
TN13-09 46.90 to 252.44 205.54 1.8 0.227 0.300 0.465
Incl. 69.51 to 81.71 12.20 4.5 0.334 0.783 1.046
Incl. 148.78 to 191.46 42.68 2.1 0.361 0.473 0.727
261.15 to 273.78 12.63 0.7 0.071 0.262 0.315
TN13-12 36.58 to 140.20 103.62 0.6 0.129 0.246 0.335
Incl. 95.19 to 115.82 20.63 1.1 0.198 0.538 0.677
*Metal Prices: Cu=$US 2.75/lb, Au= $US 1,200/oz, Ag=$US 21.35/oz. Copper Equivalent = Cu % + (Au g/t x 38.58/60.63) + (Ag g/t x 0.686/60.63)

An additional eight holes were drilled during the program but did not encounter significant mineralization. These include four holes on a target located about 1.5km north of the main porphyry copper-gold zone (Holes TN13-11, 13, 14 & 15); two holes collared about 200m northeast of the main porphyry copper-gold zone on the other side of a major fault (Holes TN13-08 and 10); and, two holes peripheral to the skarn zone mineralization (TN13-01 and 16).

The area west of a hole drilled in 2011 by Teuton (#TN11-14), which ran 106.6m of 0.24 g/t gold and 0.42% Cu (0.57% Cu Equiv.*), is considered by Teuton geologists to be a prime area for further work. This area was not tested during the 2013 program.

In September of 2013, Teuton sold its remaining interest in the Tennyson property to Brigade Holdings Ltd. ("Brigade") for $7 million, being $500,000 plus $6.5 million in subscription receipt units (shares and warrants) of Brigade. When Brigade becomes a public company, these subscription receipt units will be converted into shares and warrants of Brigade, with Teuton holding a 29% interest in Brigade. Brigade currently owns 100% of the Tennyson property plus the adjoining Tide property.

Brigade has informed Teuton that it does not plan any further work on the Tennyson property and talks have begun between Teuton and Brigade which may see a return of the property to Teuton in return for relinquishment of the subscription receipt units.

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. Mr. Cremonese has not independently verified the assays, sampling protocol, or QA/QC procedures used by Brigade, but believes them to be accurate and in conformance with industry standards.

Dino Cremonese, P.Eng., President, Teuton Resources Corp.

If you would like to be added to Teuton's news distribution list, please send your email address to gary.teuton@shawlink.ca.

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.

To view the map associated with this press release, please visit the following link: http://file.marketwire.com/release/917924_map.pdf.

The TSX Venture Exchange has neither approved nor disapproved the information contained herein.

Contact Information

  • Teuton Resources Corp.
    202-2187 Oak Bay Avenue, Victoria, BC, V8R 1G1
    (604) 682-3680 or Toll Free: 1-800-879-2333
    (604) 682-3992 (FAX)
    www.teuton.com