VANCOUVER, British Columbia, Oct. 16, 2017 (GLOBE NEWSWIRE) -- Teuton Resources Corp.
(“Teuton” or “the Company”) (TSX-V:TUO) (Frankfurt:TFE1) is pleased to announce gold results from the first
four holes of a total of 27 drilled into the Copper Belle zone within the Treaty Creek property, located in the Golden Triangle of
northwestern British Columbia. Teuton holds a 20% carried interest in the property (carried until a production decision is
made) as well as various NSR interests. Tudor Gold is the Operator and owns a 60% interest.
CB-17-04, the first step-out hole drilled this year on the Copper Belle zone, intersected 176.2 meters of
continuous mineralization which returned 0.80 g/t gold from 152.1 to 328.5 meters depth. Hole CB-17-04 was collared 40 meters
north of CB-16-03 (which was drilled in 2016 and returned 338 meters of 0.70 g/t gold). Drill results for all of the first
four holes are summarized below:
|
Drill
Hole |
|
|
From - To
(metres) |
|
|
Interval*
(metres) |
|
|
Copper
(%) |
|
|
Silver
(g/t) |
|
|
Gold
(g/t) |
|
|
CB-17-04 |
|
|
152.10 to 328.50 |
|
|
176.20 |
|
|
0.008 |
|
|
1.0 |
|
|
0.801 |
|
|
|
|
|
Including... |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
152.10 to 180.60 |
|
|
28.50 |
|
|
0.010 |
|
|
2.0 |
|
|
1.071 |
|
|
|
|
|
192.70 to 202.80 |
|
|
10.10 |
|
|
0.007 |
|
|
1.3 |
|
|
2.897 |
|
|
CB-17-05 |
|
|
98.20 to 102.30 |
|
|
4.10 |
|
|
0.012 |
|
|
2.3 |
|
|
0.926 |
|
|
CB-17-06 |
|
|
182.50 to 592.50 |
|
|
410.00 |
|
|
0.037 |
|
|
3.1 |
|
|
0.672 |
|
|
CB-17-07 |
|
|
161.00 to 530.00 |
|
|
369.00 |
|
|
0.032 |
|
|
2.4 |
|
|
0.686 |
|
|
|
|
|
Including... |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
203.00 to 246.50 |
|
|
43.50 |
|
|
0.142 |
|
|
11.88 |
|
|
1.810 |
|
|
|
|
|
507.50 to 530.00 |
|
|
22.50 |
|
|
0.036 |
|
|
3.7 |
|
|
1.494 |
|
* - True widths of the mineralization have not been determined
Results from subsequent drill holes from the 2017 drill program at Copper Belle are still pending. Almost
all holes into the Copper Belle to date have intersected long intervals of mineralization to depth. Drill holes were targeted
oblique to the northwesterly plunge of the main mineralized zone. The drill program was designed with approximately 50 meter
step-outs across the mineralized zone to create a block of delineated mineralization for a preliminary resource estimate. All
drill holes were down hole surveyed at 25 metre stations using a Reflex Multi-shot device.
The Copper Belle resource estimate will use data from 27 holes from 2017, three holes from 2016, 17 holes from
2009 and 10 holes from 2007, for a total of 22,970 meters drilled. These drill holes cover an area of approximately 250
meters wide by a kilometer long. Copper Belle zone mineralization remains open in all directions and to depth.
The magnetotelluric geophysical survey program (“MT Survey”) that was implemented in 2016 has been effectively
utilized as a guide for the 2017 drill program. The MT Survey suggests that the mineralization continues to the south, toward
the Iron Cap deposit of Seabridge Gold Inc. The MT Survey also suggests that the mineralized zone continues in all
directions. The 2017 drill program site is located five kilometers north of the Iron Cap deposit and Tudor intends to step
out to the south in its 2018 program to see if it can determine a relationship between the two areas.
Walter Storm, President and CEO, stated: “We are very pleased with these early drill results at Copper Belle
because they demonstrate both grade, continuity and the immense size of this pervasively mineralized system. Two major faults
control the mineralization which strikes southwest-northeast and dips to the northwest. Our exploration team is effectively
following the mineralization using 50 meter step-outs, which will help ensure we have the data density for our planned mineral
resource estimates.”
Dino Cremonese, P.Eng., President of Teuton Resources, commented as follows: “It is also gratifying to see a
higher grade section within one of the intervals, carrying elevated copper and silver values along with the gold. The 43.50
metre sub-interval in Hole CB-17-07 registers a gold equivalent** value of 2.20 g/t gold when you take into consideration the
copper and silver credits, a 21.5% increase in just the gold values alone (**Gold at $1303/oz; Silver at $17.35/oz; Copper at
$3.164/lb; assumes 100% recovery).”
Drill hole samples were assayed by Activation Laboratories Ltd. in Kamloops, 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 Tudor Gold personnel. Activation Laboratories quality system complies with the requirements for the
International Standards ISO 17025: 2005.
The main technical data in this news release was reviewed by by James McCrea, P.Geo., Tudor Gold’s geologist,
for the purposes of National Instrument 43-101. The Qualified Person for this news release is Dino Cremonese, P.Eng., who as
President of Teuton is not independent of the Company. Mr. Cremonese has not verified the accuracy of the technical data but
believes that it is reliable.
About Teuton
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. Eleven
of its properties are currently under option and cash proceeds from these options have exceeded $1.45 million in the past two
years, 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.
Respectfully:
“Dino Cremonese, P.Eng.”
President, Teuton Resources Corp.
For more information contact Investor Relations at 778-430-5680 or barry@teuton.com. If you would like to be added to Teuton’s news distribution list, please
send your email address to dino@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.
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