Teuton Resources Corp.
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Teuton Resources Corp.

December 03, 2014 08:30 ET

Teuton Resources Corp.: Drill Results Indicate Copper-Gold Porphyry at Del Norte

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 3, 2014) - Teuton Resources Corp. ("Teuton") (TSX VENTURE:TUO)(FRANKFURT:TFE)(OTCBB:TEUTF) is pleased to report that assays for all five holes drilled into the Del Norte property in 2014 have now been received. The Del Norte property is located east of Stewart in the Eskay Creek-Sulphurets-Premier region of northwestern British Columbia (southern portion of the "Golden Triangle"). It was originally staked in 1983 to cover three gold-bearing streams and since that time about $4.5 million has been spent in exploration, most of it by former optionees. Work to date has uncovered a number of mineralized occurrences clustered along an 8km long contact between volcanic and sedimentary rocks.

The 2014 program was aimed at testing a new zone of copper mineralization which had been recently exposed on the south side of Del Norte Creek. Five holes were drilled into the target area, all intersecting broad zones of bulk tonnage style, copper-gold mineralization. Hole D14-05, the deepest drilled in the program, was still in mineralization when it had to be stopped due to weather conditions. Results are tabulated below:

Drill
Hole
Interval
(metres)
Length
(metres)
Length
(feet)
Gold
(g/t)
Copper
(%)
Silver
(g/t)
Copper
Equiv. *
(%)
Gold
Equiv. *
(g/t)
D14-01 7.32 to 78.64 71.3 234.0 0.32 0.06 4.03 0.28 0.47
incl. 7.32 to 55.78 48.5 159.0 0.42 0.07 5.20 0.37 0.62
D14-02 21.95 to 162.46 140.5 461.0 0.26 0.09 1.57 0.26 0.44
incl. 43.59 to 81.99 38.4 126.0 0.49 0.10 2.78 0.41 0.69
incl. 86.26 to 101.50 15.2 50.0 0.33 0.15 1.29 0.36 0.61
D14-03 63.70 to 75.90 12.2 40.0 0.92 0.16 3.07 0.72 1.23
D14-04 19.51 to 110.03 90.5 297.0 0.15 0.08 0.74 0.18 0.30
incl. 19.51 to 33.83 14.3 47.0 0.36 0.17 1.12 0.39 0.66
D14-05 17.68 to 125.58 107.9 354.0 0.44 0.07 1.96 0.34 0.58
incl. 17.68 to 60.05 42.4 139.0 0.71 0.06 2.80 0.50 0.85
*Based on a 1.0 to 72.0 silver to gold ratio and 0.1% copper equivalent to 0.17 g/t gold, predicated on current prices for gold, copper and silver

The mineralized intersections, consisting for the most part of an altered intermediate intrusive with both phyllic and propylitic alteration, are interpreted as being part of a porphyry copper-gold system. The copper grades in this portion of the system are low, but the gold is well within the range of values associated with typical porphyry copper-gold deposits in British Columbia. True widths of the mineralization are not known.

D. Cremonese, P.Eng., President of Teuton commented as follows: "The 2014 results are encouraging as they indicate we are on the periphery of a porphyry copper-gold system. Geophysical surveys are recommended to test for possible higher-grade material along strike and to depth. A deep IP and/or magnetotelluric survey should be carried out to the north for 500m, covering a zone from which nine silt samples taken in 1988 returned values ranging from 85 to 2040 ppb gold, 36 to 5328 ppm copper and 6 to 103 ppm molybdenum, and to the south for 500m, covering a copper-gold bearing fault zone discovered in 1991. Targets identified by such work would be followed up by further drilling which could begin as early as June. If this work proves positive, the property could, in the future, be fairly inexpensively accessed by a road constructed along the Del Norte Creek valley connecting to the White River logging road network."

The Del Norte property lies within the Stikinia terrane which is host to several very large undeveloped resources of copper-gold, including Seabridge Gold's KSM copper-gold deposits (recently approved for production by the BC provincial government).

The QA/QC protocol employed during the 2014 exploration program included procedures for monitoring the chain-of-custody of samples and the insertion of blanks and reference standards in every batch of samples. Pioneer Laboratories of Richmond, BC, performed the analyses. The Qualified Person for the purposes of this news release is D. Cremonese, P.Eng., who, as president, is not independent of the Company. The silt sample results reported above are pre-National Policy 43-101 but as they were taken by Teuton personnel their provenance is known so results are considered reliable. The Del Norte is an exploration property with no established mineral resources and there can be no assurance that further work will discover any mineral resources.

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.

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