TMIN Successfully Concludes Yellow Moose Diamond Drill Program, Encountering Intervals of Epithermal-style Alteration
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Teako Minerals Successfully Concludes Yellow Moose Diamond Drill Program,
Encountering Intervals of Epithermal-style Alteration
VANCOUVER, B.C. – September 28, 2023 - TEAKO MINERALS CORP. (CSE: TMIN)
(the "Company" or "Teako") is pleased to announce that the inaugural drill program has
been completed at the Yellow Moose Gold Project. A total of five, HQ diameter diamond drill
holes were completed for a total of 772 meters drilled. The 100% owned Yellow Moose project
is within the Nechako Plateau region of north-central British Columbia, 150 km southwest of
the city of Prince George and 75 km southwest of the town of Vanderhoof.
Kristian Whitehead, Teako’s VP of Exploration, commented, “Several of our drill holes
encountered alteration including silicification, clay alteration and pyrite, both disseminated and
vein controlled, all consistent with an epithermal system. We are proud of our team’s effective and
efficient execution of this first drill program at Stubb Bay. The additional challenge of working
during a wildfire emergency highlights their dedication and professionalism.”
Highlights:
• Drilling was focused on the Stubb Bay occurrence, one of several prospective areas that
define an 18 km gold geochemical trend within the Yellow Moose Property.
• Drilling encountered several zones of intense silicification, clay alteration and pyrite
mineralization with rare pyrrhotite and chalcopyrite.
• Samples have been submitted for analysis to SGS Canada Labs in Burnaby British
Columbia, with results expected in Q4.
Drill Program Summary:
The drill program comprised five drill holes totalling 772 metres and tested the Stubb Bay
occurrence (Figure 1). The target exploration model at the Property is a low -sulphidation
epithermal gold system. Stubb Bay is defined by historical work in 1994 that included a trench
(two metres of 2.87 grams per tonne of gold) and one shallow drill hole (6.1 metres of 0.50 gram
per tonne of gold). Additionally, stockwork quartz veined outcrops are found spread along the
shoreline of the adjacent Knewstubb Lake reservoir. This historical work is compiled from
publicly available reports and , although unverified, is considered valid for exploration purposes.
350 – 1650 West 2nd Avenue, Vancouver, BC, V6J 1H4 TEL (604) 416-5058
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Inland, an abundance of quartz-breccia and silicified boulders are present that display similarities
to those seen on the shoreline. Recent work in 2020 and 2021 revisited the area and further outlined
the target with a program of Ah soil sampling. Due to evacuation orders triggered by the nearby
active wildfires, crews and core were removed from the property and core sampling was prioritised
to the most promising intervals. Due to fire evacuation requirements the Company did not reach
the targeted depth of drill hole YM23-05, which was terminated within prospective zones of
silicification, clay alteration and pyrite mineralization. All other drill holes achieved their desired
depths. Samples were collected from the majority of the holes drilled including the entirety of
holes YM23-02 and YM23-05 and the majority of holes YM23-01 and YM23-05. Hole YM 23-
03 was not sampled at this time. The Company intends to complete the sampling in the future. All
holes except for YM23-03 are plotted in cross-section in Figure 2 and in plan view in Figure 3
with sampled intervals noted. Hole YM 23-03 intersected mostly weakly altered to fresh andesite
volcanics. The collar locations are presented in Table 1.
Figure 1: Diamond Drill Plan
Figure 1: Stubb Bay Area Plan View of Drill Collars & Traces
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Table 1:Diamond Drill Collar Table
Hole ID Easting
(NAD 83)
Northing
(NAD 83)
Elevation
(m)
Hole
Diameter
Azimuth Dip Depth
(m)
YM23-01 376377 5937342 878 HQ 315 -55 172.00
YM23-02 376448 5937271 873 HQ 315 -55 168.00
YM23-03 376260 5937230 865 HQ 325 -69 113.00
YM23-04 376514 5937180 881 HQ 315 -55 175.00
YM23-05 376462 5937335 869 HQ 133 -56 137.00
Table 1: Diamond Drill Collar Table
Figure 2: Diamond Drill Cross Section
Figure 2: Stubb Bay Drilling Cross Section with Lithology, Mineralization & Sampled Intervals Facing Northeast
350 – 1650 West 2nd Avenue, Vancouver, BC, V6J 1H4 TEL (604) 416-5058
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Discussion:
This initial drill program was designed to test the subsurface projection of the Stubb Bay
occurrence that comprised scattered outcrop and float material along the shores of Knewstubb
Lake reservoir. The program was flexible, with hole depths and step-outs adjusted as drilling
progressed to maximise the area evaluated. The drilling successfully encountered epithermal-style
alteration similar to the surface exposures. An unanticipated intrusive unit was encountered, which
may play a role in the mineralizing system observed. The size and form of this intrusive unit remain
unknown; however, it was also subjected to extensive silicification, alteration and sulfide
mineralization events. Stubb Bay is one of several epithermal-gold targets identified on the large
Yellow Moose property that outlines an 18-kilometre-long trend.
Figure 3: Drill Plan with Geology and Sample Intervals
Figure 3: Stubb Bay Drilling Plan View with Lithology, Mineralization & Sampled Intervals
350 – 1650 West 2nd Avenue, Vancouver, BC, V6J 1H4 TEL (604) 416-5058
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SGS Laboratories:
Samples have been submitted to SGS Canada Labs for analysis with results expected in the fourth
quarter.
Qualified Person:
Kristian Whitehead, P.Geo., is the Company's Qualified Person as defined by National Instrument
43-101, Standards of Disclosure for Mineral Projects, and has prepared the technical information
presented in this release and was the project manager for the drill program. Additional commentary
and data verification statements were presented in news releases dated July 21, 2023, and
September 5, 2023 and filed on SEDAR and the Company's website.
About Teako Minerals Corp.:
Teako Minerals Corp. is a Vancouver-based mineral exploration company committed to acquiring,
exploring, and developing mineral properties in Canada, Norway & Finland exploring for Gold,
Copper & Cobalt. 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: [email protected]
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 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. Since forward-looking statements address future events and conditions, by their very nature they
involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of
factors and risks. These include, but are not limited to, risks associated with the mineral exploration industry in general ( e.g.,
operational risks in development, exploration and production; the uncertainty of mineral resource estimates; the uncertainty of
estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), constraint in the
availability of services, commodity price and exchange rate fluctuations, changes in legislation impacting the mining industry,
adverse weather conditions and uncertainties resulting from potential delays or changes in plans with respect to exploration or
development projects or capital expenditures. These and other risks are set out in more detail in Teako’s interim Management’s
Discussion and Analysis dated July 31, 2023. 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.