Vancouver, British Columbia--(Newsfile Corp. - July 10, 2023) - TEAKO MINERALS CORP. (CSE: TMIN) (the "Company" or "Teako") wishes to provide an update to its shareholders and stakeholders regarding the ongoing forest fires in British Columbia and the impact on our planned exploration activities previously announced at the Pinnacle project (see news release June 27, 2023).
Firstly, we want to extend our thoughts to the communities affected by these fires and extend our gratitude to the firefighters and emergency personnel working to control the situation.
Safety is our top priority at Teako. As such, we have temporarily suspended our exploration activities at the Pinnacle project to ensure the safety of our employees and contractors. We are closely monitoring the situation and are in regular contact with local authorities to assess when it will be safe to resume our operations.
We understand that this situation may cause concern among our shareholders. However, we want to assure you that we have comprehensive contingency plans in place to mitigate the impact of such events on our operations. While the suspension of activities may cause some delays in our exploration schedule for the Pinnacle project, we are committed to resuming our work at the Pinnacle project as soon as it is safe and permissible to do so.
Teako's business plan remains uncompromised. We are steadfast in our commitment to our strategic objectives and will continue to navigate through these circumstances.
The Company will keep our investors informed and will provide updates regarding the situation, particularly concerning the fires, as promptly and accurately as possible.
Dispatching Crews to the BQ project:
To ensure continued progress the Company dispatched crews to the BQ property to commence our inaugural reconnaissance, mapping and soil sample program at BQ. The crew staged from Smithers, BC to conduct a 10 day field program comprised of ground truthing, mapping and to begin a conventional soil sampling analysis - a program that is now complete.
The program served as an effective pivot from our planned Pinnacle program due to fires near the property. The field crew collected a total of:
- 11 rock samples, and;
- 117 soil samples
The collected samples are now on route to ALS Global for certified assay analysis. The Company expects to add to this inaugural program as the assay results are received and logistics are worked out.
About the BQ Project:
The BQ project is a gold property located in north-central British Columbia, Canada, approximately 29 km northwest of the town of Smithers. The property consists of eight BC MTO cell claims covering approximately 817 hectares. The tenures are 100% owned by Teako Minerals Corp.
The property is centered on a pronounced east-west oriented set of hills underlain by a 7.0-kilometre long and 1.5-kilometre-wide felsic intrusion bound at its east and west ends by district scale northwest-directed faults. Gold mineralization identified on the property has been described by historical workers as sediment-hosted gold, generated where steep faults have intersected receptive, permeable lithologies on the fringe of felsic intrusion. Much of the historical exploration work has focused on the 2006 Zone, a 1-kilometre-wide corridor along the north side of the intrusion consisting of a strong coincident multi-element soil geochemistry and ground geophysical (IP) anomaly. All historical work has been documented from publicly available reports filed for assessment work and has not been verified by the Company's qualified person.
Figure 1: BQ Project Map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8258/172902_5179905294801916_001full.jpg
Tracking the forest fires; Teako Partners up with Junior Mining Hub:
To provide our shareholders with the most accurate and up-to-date information, the Company has reached out to Junior Mining Hub, a member of The Service Alliance (see news release May 1, 2023), who have created an overlay of the fires on the Pinnacle project, in a common attempt to keep our investors informed. Junior Mining Hub have agreed to update the overlay regularly.
The interactive map can be accessed here.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8258/172902_5179905294801916_002full.jpg
The disclosure of technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in NI 43-101, Standards of Disclosure for Mineral Projects, and reviewed and approved by Kristian Whitehead, PGeo, VP Exploration and director, who acts as the Company's qualified person and is not independent of the company.
About Teako Minerals Corp.:
Teako Minerals Corp. is a Vancouver-based mineral exploration company committed to the acquisition, exploration, and development of mineral properties in Canada and globally. The adoption of advanced technologies such as the SCS Exploration Product aligns with its strategy to remain at the forefront of the rapidly evolving mining industry.
ON BEHALF OF TEAKO MINERALS CORP.
"Sven Gollan"
CEO
T: +43 5522 500429
Email: sven.gollan@teakominerals.com
Forward-Looking Information:
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Teako. Forward-looking information is based on certain key expectations and assumptions made by the management of Teako. In some cases, you can identify forward-looking statements by the use of words such as "will," "may," "would," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "could" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. . Forward-looking statements in this press release include that (a) the Company will assess when it will be safe to resume its operations on the Pinnacle project, (b) the Company will keep our investors informed and will provide updates, (c) the suspension of activities may cause some delays in our exploration schedule for the Pinnacle project, (d) Teako's business plan remains uncompromised, and (e) we are steadfast in our commitment to our strategic objectives and will continue to navigate through these circumstances. Although Teako believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Teako can give no assurance that they will prove to be correct.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
Not for dissemination in the United States or through U.S. newswires
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/172902
