Vancouver, Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TFE”- Frankfurt) and Silver Grail Resources Ltd. (“Silver Grail”) (“SVG”-TSX-V) announce that four holes totalling 1,032m were recently completed on their jointly owned Konkin Silver property, located within BC’s “Golden Triangle”, 35 kilometres east of Stewart, BC. The drill program tested two large, overlapping VTEM and ZTEM geophysical airborne anomalies (see end of release for a URL for property map).
The Konkin Silver property lies south of the Midas and Del Norte properties, the latter currently being drilled for gold-silver mineralization by Teuton’s optionee, Decade Resources. A favourable, volcanic-sediment contact, known to be associated with precious metal mineralization, runs north-south through all three properties. A series of ten large Geotech ZTEM anomalies lies along, or close to, this contact.
Geologist Ed Kruchkowski, P. Geo., described the Konkin Silver drill core as follows: “The drill holes intersected black matrix lapilli tuffs, dacites and fine-grained tuffs in contact with highly graphitic mudstones containing thin, rhythmic beds of pyrite over sections in excess of 50m. The presence of these pyrite beds indicates a possible VMS environment. Pyrite beds formed up to 15-20 % of the intersected sequences. Within the dacite fragments in the black matrix tuffs, minor sphalerite and pyrite is noted. Indications are that the drill holes may be in close proximity to volcanic vent areas. Core logging indicated that the holes tested rocks located at the same stratigraphic sequence hosting the Eskay Creek deposit.”
Photographs of various portions of the drill core can be seen here: https://teuton.com/Konkinsilvercore. In Hole 21-03, a 64.45m section from 338.24 to 402.69m contains from 3 to 25% pyrite within a sequence of intercalated graphitic mudstones and dacites.
D. Cremonese, P. Eng., President and CEO of Teuton and Silver Grail, commented as follows: “Past work on the Konkin Silver has been directed at replacement-style silver mineralization. The new 2021 exploration program is directed at VMS (Volcanogenic Massive Sulphide) mineralization and since we are in the same stratigraphic horizon as the Eskay Creek deposits, our target is precious metal-rich, Eskay Creek type mineralization. Because of all of the float boulders discovered earlier this year below the steep slopes overlooking the 2021 drill pads—most of them containing graphitic mudstones with up to 25% pyrite—we can infer that this area is the locus of a very large mineralizing event (further supported by the intersections seen in drill core and also by the strength and areal size of the ZTEM and VTEM anomalies). Some of the float boulders contain wisps of a green mineral thought to be scorodite and you can also see minor sphalerite in the dacites (in core), indicating that there are other minerals in the mix beside pyrite. We are really looking forward to the assays and getting back to the property in 2022. We are also looking forward to testing many of the other Geotech airborne ZTEM anomalies in the Midas and Konkin Silver properties, as results from the current drilling have successfully explained the strong geophysical responses seen in target ”A-9”.
Drill core samples are sent to MSA Labs’ Preparation Laboratory in Terrace, BC and assayed at MSA Labs’ Geochemical Laboratory in Langley, BC. Analytical accuracy and precision are monitored by the submission of blanks, certified standards and duplicate samples inserted at regular intervals into the sample stream by Teuton personnel. MSA Laboratories quality system complies with the requirements for the International Standards ISO 17025 and ISO 9001. MSA Labs is independent of the Company.
Drilling for the season is now over for the Konkin Silver property. Although visual indications in the core are very encouraging and management would have liked to continue, drilling further holes was precluded by ongoing problems with the new drill supplied by the contractor. Drilling on the next project, the Eskay Rift, now has been postponed until the 2022 field season.
D. Cremonese, P.Eng., is the Qualified Person for Teuton Resources Corp.; as President of the Company he is not independent.