VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 13, 2015) - Teuton Resources Corp. ("Teuton") (TSX VENTURE:TUO)(FRANKFURT:TFE)(OTCBB:TEUTF) reports the following regional exploration news for the Stewart district, located in the southern portion of the Golden Triangle of northwestern British Columbia:
In 2014, three separate Stewart area gold properties-the KSM, Brucejack and Red Mountain-all made significant advances towards attaining production. Two other properties, the Bow and the Premier, reported discoveries of exceptionally high-grade gold (see accompanying map for locations). Although the year was marked by falling gold prices and severely curtailed exploration by the juniors, it must be considered one of the best on record for the region.
Over twelve months ago two BC Government geologists (Nelson and Kyba) wrote: "The Treaty Glacier-KSM-Brucejack-Stewart trend is one of the most productive and promising in northwestern British Columbia". This sentiment can now be extended from British Columbia to the world. Total mineral endowment at the KSM and Brucejack properties is phenomenal.1
Highlights of 2014 regional results are presented below:
KSM Property-After spending $200 million, Seabridge Gold was granted provincial and then federal environmental approval for its $5.3 billion KSM Project . Exploration results continued to shine at both the Deep Kerr and the Iron Cap. Hole K-14-45 cut 737 metres of 0.36 g/t Au and 0.59% Cu at the Kerr; Hole IC-14-53 cut 514 metres of 0.68 g/t Au and 0.30% Cu, establishing a new major gold-copper discovery below previous drilling at the Iron Cap.
Teuton's High property controls all of the southward projection of favourable geology from the KSM property, including the southward continuation of the Sulphurets thrust fault thought to be related to all of the deposits at KSM. The Iron Cap deposit, located in the northern portion of the KSM property, lies just 800 metres southwest of Teuton's Treaty Creek property (Teuton 49% interest).2
Brucejack Property-Pretium Gold continued work at the Brucejack property on its VOK high-grade gold deposit. Late in 2014, Pretium announced that Zijin Mining Group was making an $81 million investment into Pretium. Current plans call for commercial production in 2017. Pretium has spent more than $280 million exploring Brucejack.
Teuton's High property controls all of the southward extensions of favourable geology from the Brucejack. A new zone discovered by Teuton in 2014, the "Tuck", recently exposed by melting ice, shows many of the characteristics of those zones presently being explored at Brucejack (see news releases dated August 19, August 26 and November 17, 2014 for details).2
Bow Property-Decade Resources reported three exceptional holes in 2014 at its Bow property, located near the formerly producing Scottie Gold Mine. Results are as follows: 12.20m grading 56.70 g/t gold; 12.66m grading 39.43 g/t gold; and, 13.11m grading 27.54 g/t gold. The property is located along volcanic rocks on the boundary with the Summit Lake stock, part of the Texas Creek Plutonic suite in the Stewart area. This suite of rocks is related to alteration and mineralization as found at the formerly producing Premier mine and the KSM copper-gold porphyries/Brucejack Lake gold deposits.
Good potential exists to find similar mineralization on Teuton's Tennyson property, located 6km west of the Bow claim and also along the flanks of the Summit Lake stock.2
Premier-Dilworth Property-In 2014, Ascot Resources found a high-grade gold zone near the old Premier Mine Pit. Several drill holes encountered very high gold grades, including: 1,395.0 grams per tonne gold and 739.0 g/t silver over 1.0 metre (40.69 opt gold and 21.56 opt silver over 3.3 feet); 14,394.5 g/t gold over 0.75m (419.91 opt gold over 2.5 feet), and 873.0 g/t gold over 1.00m (25.47 opt gold over 3.3 feet).
Teuton's Harry property, which adjoins the Dilworth part of Ascot's holdings to the west, features very anomalous gold soil geochemistry. Source is yet to be determined.2
Red Mountain Property-IDM Mining acquired the Red Mountain gold property in 2014 and immediately commissioned a 43-101 Preliminary Economic Assessment for the project. The aftertax base-case economics at a 5-per-cent discount rate indicated an internal rate of return (IRR) of 32.8 per cent and a 1.5-year payback of initial capital. Life-of-project direct operating cost was estimated at $516 (U.S.) per ounce of gold recovered. IDM Mining also discovered and drilled two new high-grade gold zones in 2014. Gold mineralization at Red Mountain is thought to be related to hornblende porphyry intrusions (Goldslide Intrusions).
Teuton owns many properties surrounding the Red Mountain project, including the Del Norte, Midas, Konkin Silver, Gold Mountain, Ram and Fiji claims. Certain of these properties host intrusion-related gold zones similar to those found at Red Mountain.2
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 any of the technical information cited on properties adjacent to or close to the Teuton mineral properties.
Litigation Update
The three day hearing for the appeal of the Treaty Creek property decision has been adjourned and is now scheduled to commence March 9, 2015. In December of 2014, Teuton had a fee dispute with its counsel who thereafter asked to withdraw, citing professional and other reasons, including ethical reasons. The Company can confirm that "ethical reasons" should not be taken as suggesting that Teuton or its principals have conducted themselves in an unethical manner. Teuton is currently interviewing new lawyers to act as counsel for the appeal. Teuton would also like to confirm that almost all of the work necessary to conduct the appeal, such as the factum, appeal books, transcripts and related documents, has already been completed. Interested readers can access a copy of Teuton's factum at http://teuton.com/appeal-documents.
Respectfully:
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.com
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.
1Seabridge Gold-KSM Property-Mineral Resource (http://www.stockwatch.com/News/Sedardoc.aspx?docid=3105682)
PROJECT |
Cut- Off Grade (g/T) |
Measured |
Indicated |
Inferred |
Tonnes
(000's) |
Gold Grade (g/T) |
Gold (000's ozs) |
Copper Grade (%) |
Copper (million lbs) |
Tonnes
(000's) |
Gold Grade (g/T) |
Gold (000's ozs) |
Copper Grade (%) |
Copper (million lbs) |
Tonnes
(000's) |
Gold Grade (g/T) |
Gold (000's ozs) |
Copper Grade (%) |
Copper (million lbs) |
| KSM |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mitchell |
0.501 |
724,000 |
0.65 |
15,130 |
0.18 |
2,872 |
1,052,900 |
0.58 |
19,634 |
0.16 |
3,713 |
567,800 |
0.44 |
8,032 |
0.14 |
1,752 |
| Iron Cap |
0.501 |
-- |
-- |
-- |
-- |
-- |
361,700 |
0.44 |
5,117 |
0.21 |
1,674 |
297,300 |
0.36 |
3,441 |
0.20 |
1,310 |
| Sulphurets |
0.501 |
-- |
-- |
-- |
-- |
-- |
370,900 |
0.59 |
7,036 |
0.21 |
1,717 |
177,100 |
0.50 |
2,847 |
0.15 |
585 |
| Kerr |
0.501 |
-- |
-- |
-- |
-- |
-- |
270,400 |
0.24 |
2,086 |
0.46 |
2,741 |
85,000 |
0.24 |
656 |
0.28 |
525 |
| KSM Total |
-- |
724,000 |
0.65 |
15,130 |
0.18 |
2,872 |
2,055,900 |
0.51 |
33,873 |
0.22 |
9,845 |
1,127,200 |
0.41 |
14,976 |
0.17 |
4,172 |
| Deep Kerr |
$20
NSR1 |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
514,700 |
0.36 |
5,914 |
0.53 |
6,052- |
Pretium Resources-Brucejack Property-Mineral Resources
Valley of the Kings High-Grade Gold Mineral Resources
The June 2014 Feasibility Study is based on the December 2013 Mineral Resource estimate for the Brucejack Project (see news release dated December 19, 2013). The Mineral Resource estimate was completed by Snowden Mining Industry Consultants ("Snowden"). The high-grade gold resources in the Valley of the Kings (5.0 g/t gold-equivalent cut-off) total:
8.7 million ounces of gold in the Measured and Indicated Resource categories (15.3 million tonnes grading 17.6 grams of gold per tonne); and
4.9 million ounces of gold in the Inferred Mineral Resource category (5.9 million tonnes grading 25.6 grams of gold per tonne).
Pretium Resources-Snowfield Property-Mineral Resources
The gold resource at Snowfield now comprises 25.9 million ounces of measured and indicated gold resources and 9.0 million ounces of inferred resources at a cut-off grade of 0.30 grams of gold-equivalent per tonne. Mineral resources also include silver resources of 75.8 million ounces measured and indicated and 51.0 million ounces of inferred; copper resources of 2.98 billion pounds of measured and indicated and 1.10 billion pounds of inferred; molybdenum resources of 258.3 million pounds of measured and indicated and 127.7 million pounds inferred; and rhenium resources of 22.5 million ounces of measured and indicated and 11.5 million ounces of inferred.
(http://www.pretivm.com/projects/snowfield/overview/default.aspx)
2There are no known resources or reserves on any of the Teuton mineral properties described in this news release. In addition, the presence of gold deposits on properties adjacent to or in close proximity to the Teuton mineral properties is not necessarily indicative of the gold mineralization on the Teuton mineral properties.