VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 26, 2016) - Teuton Resources Corp. ("Teuton") (TSX VENTURE:TUO)(FRANKFURT:TFE)(OTCBB:TEUTF) is pleased to provide an update on progress from various drill programs on its properties situated north and east of Stewart in the Golden Triangle region of northwestern British Columbia.
Four J's Property-Optionee Rotation Minerals Ltd. has drilled two holes targeting a prominent airborne geophysical anomaly located approximately 15km south of Pretium Resources' Valley of the Kings gold deposit (currently the subject of a $1billion CDN construction project aimed at placing the property into production by mid to late 2017). These holes intersected zones of quartz breccia mineralized with sphalerite and bournonite (copper-lead antimonial sulfide). In previous drilling on the property gold and silver values were found to accompany base metals in similar brecciated zones. Also intersected were sections of an altered intrusive closely associated with or next to the breccias. The intrusive has been provisionally identified as Premier Porphyry-type in composition. Brecciated mudstone with massive to semi-massive pyrite was also intersected.
Rotation can earn a 50% interest in the Four J's from Teuton by spending $1.8 million on the property and an additional 20% interest by electing to take the property to feasibility.
Del Norte property-Drilling was completed over four weeks ago and the first samples arrived at the laboratory on September 2, 2016. Three more shipments were sent the following two weeks. Teuton has not yet received assay results from the lab and is uncertain as to when the first results will arrive. When complete results are available for the three holes drilled into the postulated porphyry zone, the Company plans on making a release. A final report on the results of the magnetotelluric survey carried out over the area of drilling is also awaiting the assays.
Big Gold property-Drilling is complete and the first batch of samples has been sent out for assay. The first set of holes were drilled to test depth extensions of gold-bearing mineralization sampled on surface from an 8m wide outcrop of quartz sericite schist. These holes encountered multiple sub-parallel zones mineralized with varying amounts of pyrite, the same sulfide identified on surface. One of these zones, approximately a 10m intersection (true width is presently unknown), also contains sphalerite as well as occasional strands of chalcopyrite, two sulfides not seen on surface.
Clone property-Six holes have been completed to date intersecting mineralization consistent with that exposed on surface.
Pearson property-Drilling of this property has been deferred until 2017 in order to properly define drill targets. Geochemical and geophysical data have yet to be fully assessed.
Treaty Creek joint venture property-Teuton has not received an update on progress of drilling at the Treaty Creek property from operator Tudor Gold.
Photographs of selected portions from various of the drill programs mentioned may be made available for viewing on the Company's website, www.teuton.com, once logging and diamond sawing of the core has been completed.
Teuton owns interests in more than thirty properties in the prolific "Golden Triangle" area of northwestern British Columbia and was one of the first companies to adopt what has since become known as the "prospect generator" model. Ten of its properties are currently under option and cash proceeds from these options have exceeded $1 million in the past twelve months, not including the value of shares received from the optioning companies. Shareholders and other interested parties can access information about Teuton at the Company's website, www.teuton.com.
The Qualified Person for this news release is D. Cremonese, P.Eng., who, as President and CEO, is not independent of the Company.
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 firstname.lastname@example.org.
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.