| August 25, 2020 - Vancouver, Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) ("TUC"- Frankfurt) is pleased to announce it has optioned its wholly-owned Lord Nelson property to Decade Resources. The 2,630 hectare property is situated within the Golden Triangle of northwestern British Columbia, 34 kilometres east of Stewart. It is located along a major structural break between volcanics to the west and sediments to the east, a favourable contact which is the locus of numerous precious metal occurrences on the Del Norte property adjoining immediately to the south.
Decade has the right to earn up to a 55% interest in the Lord Nelson property under the following terms: - Payment of $100,000 over 4 years with an initial payment of $10,000.
- Issuing 400,000 shares of Decade on signing.
- Issuing an additional $90,000 of Decade stock over a 4 year period.
- Expenditures of $2,000,000 over 5 years.
Decade also has the right to earn an additional 20% interest by placing the property into production. Teuton retains a 2% Net Smelter Royalty. The agreement is subject to TSX Venture approval.
Highlights of the property include: - Grab sampling in 2019 on the Lord Nelson near the boundary with the Del Norte property yielded 0.25 to 272 g/t (8 oz /t) gold and 60 ppm to 17.45 % copper (a photo of a mineralized outcrop is attached at the end of this release).
- Examination by consulting geologists working for Decade Resources in 2020 confirmed the location and nature of the 2019 sampling, and discovered more mineralized occurrences to the north, upslope of the 8 ounce, grab sample.
- Nelson Creek, lying immediately to the south of the copper-gold bearing showings, is known to have produced coarse, placer gold in the 1930’s. A definitive source for this gold has not yet been found.
- Geophysical surveys by Teuton in previous years indicated EM anomalies extending north from the Del Norte project into the Lord Nelson tenures. One of these anomalies on the Del Norte is spatially associated with the LG vein, a known high-grade gold occurrence with a 1.2 km strike length.
- A series of ZTEM anomalies was identified in a multi-property airborne geophysical survey carried out by Geotech for Teuton in 2018. The northernmost of these is on the Lord Nelson property. Of this anomaly, Geotech’s geophysicists stated that: “[It] coincides with a strong Aerotem conductor. It lies at the contact between volcanics and sediments of the Hazelton Group. This target is stretching roughly in the NS direction over a distance of >1.8 km and has an estimated resistivity of < 50 ohm-m at depth of 300m. It occurs within a zone of complex structural pattern and represents probably the northern extension of the conductor that hosts the LG vein system. “
Ed Kruchkowski, president of Decade stated: ‘the Lord Nelson tenures are on strike with horizons being tested by the Company in Nelson Creek. Also, helicopter flights to the area of the Del Norte drilling pass directly over the newly optioned tenures. The new showing area which is at low elevations allows the Company to have a longer exploration period”.
Dino Cremonese, P.Eng., President of Teuton commented as follows: “The Lord Nelson property has been under option by several companies over the years, including Geofine Exploration Consultants, Frontline Gold, Millrock Resources and most recently, ArcWest Exploration. Although Arcwest geologists discovered grab samples running to 272 g/t gold on the property in 2019, they decided to relinquish the option. Had they continued they would have been required to spend over $800,000 on the property in 2020. The current optionee, Decade Resources, is already exploring Teuton’s Del Norte property located south of the Lord Nelson through an option entered into in January of this year. Decade Resources is headed by Ed Kruchkowski, one of the Golden Triangle’s most well-known geologists. We wish Decade luck in advancing the Lord Nelson property. This option is consistent with the Company’s policy of spreading exploration risk through joint venture agreements.”
The Qualified Person for Teuton Resources, Dino Cremonese, P. Eng. (who as President is not independent of the Company), is responsible for the contents of this news release. He has not independently verified the samples taken by Arcwest Exploration geologists in 2019 as reported herein, but has no reason to believe they are inaccurate.
Update re Golden Triangle Exploration Properties
Decade Resources, optionee of the Del Norte property, has informed the Company that drilling is continuing at the Del Norte project and is successfully intersecting all intended target zones.
The Company is currently awaiting approval of a Permit from the BC Ministry of Mines in regard to the Midas-Konkin Silver property. The Midas-Konkin Silver adjoins due south of the Del Norte property and contains a number of mineral occurrences and geophysical anomalies.
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