Drilling Expands the Goldstorm Deposit at Treaty Creek to the Northeast; Step-Out Hole GS-23-170 Intersects 1.48 g/t AuEq Over 201 Meters within 516 Meters Grading 1.19 g/t AuEq
TEUTON RESOURCES CORP .
2130 Crescent Road
Victoria, BC V8S 2H3
Phone: (778) 430-5680
Website: www.teuton.com
NEWS RELEASE – AUGUST 15, 2023
Drilling Expands the Goldstorm Deposit at Treaty Creek to the Northeast;
Step-Out Hole GS-23-170 Intersects 1.48 g/t AuEq Over 201 Meters
within 516 Meters Grading 1.19 g/t AuEq,
Outside the Goldstorm Deposit Mineral Resource Area
Vancouver, Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V)
("TFE"- Frankfurt) has received assay results from its Joint Venture partner, Tudor Gold Corp., on
the second set of drill results f rom the Phase l work program at the Treaty Creek property. Treaty
Creek is located in the heart of the Golden Triangle of northwestern British Columbia, adjoining and
on geological trend with Seabridge Gold’s KSM property and Newmont’s Brucejack property.
Since the beginning of this year’s Program, Tudor Gold has successfully completed over 21,000
meters (m) of drilling, within areas encompassing the Goldstorm Deposit and the Perfectstorm Zone.
The five drill holes reported in this release are located in t he northeastern area of the Goldstorm
Deposit. Click to view plan map and cross sections.
Ken Konkin, President and CEO of Tudor Gold, comment ed as follow s: “We are very pleased to
confirm the continued expansion of the Goldstorm Deposit to the northeast. Results from our
northeastern-most step-out drilling from section 120+50 NE will certainly expand the volume of the
deposit with AuEq values well above the 0.7 gpt AuE q underground resource estimate cut-off grade
used for our deposit. In addition, very large blocks within the previously estimated drill inferred category
have been successfully intersected with very positive gold, copper and silver grades, which we believe
will convert these blocks of mineralization into the drill Indicated category. Our goal is to increase the
size of the resource without diminishing the grade. This will be a critical component to the Preliminary
Economic Assessment (PEA) that we plan to complete once we have totally defined the Goldstorm
Deposit. We have completed five additional drill holes on the Goldstorm Deposit and three drill holes
at the Perfectstorm target, which are currently in the lab. Results will be announced once they are
received and compiled. Crews have begun construction of drill pa ds required to pursue the northern
aspects of the CS-600, 300H and DS5 domains for the 2024 drill program; these are beyond the scope
and the time available to drill within our planned 2023 program. Defining the shape and extent of each
domain is necessary prior to determining a mine plan, which is essential for the PEA level and beyond.”
SECTION 117+50NE
• GS-23-166-W1: This hole targeted the northern aspects of the CS -600 and DS5 Domains of
the Goldstorm Deposit. The hole first intersected the northern aspect of the CS -600 Domain
in an area that was classified as Inferred in the April 2023 Mineral Resource Estimate (MRE).
The hole then successfully intersected DS5 Domain mineralization at approximately 115 m
outside and to the northwest of the previous DS5 Domain boundary. Highlights include 153 m
grading 1.29 g/t AuEq (0.75 g/t Au, 14.02 g/t Ag, 0.33 % Cu) with a 1.8 m intercept of 5.18 g/t
AuEq (1.37 g/t Au, 374.0 g/t Ag, 0.09 % Cu). Several mineralized zones were encountered
throughout the DS5 Domain, including 45.0 m grading 1.09 g/t AuEq (1.02 g/t Au, 5.14 g/t Ag,
0.02 % Cu).
• GS-23-168-W1: This hole targeted the deep, northwest portion of the CS -600 Domain. The
hole intersected an area classified as Inferred in the previous MRE. Prior to entering the CS-
600, a mineralized section of 75.0 m of 1.34 g/t AuE q (1.27 g/t Au, 5.89 g/t Ag, 0.01 % Cu)
was cut, and this is interpreted to be the 300H Domain. A long intercept of CS -600 included
296.0 m of 1.11 g/t AuE q (0.65 g/t Au, 5.03 g/t Ag, 0.35 % Cu) with an enriched intercept of
102.0 m grading 1.30 g/t AuEq (0.64 g/t Au, 7.39 g/t Ag, 0.50 % Cu).
• GS-23-166: This hole was not sampled and shutdown early due to excessive drill hole
deviation. The hole was wedged and drilled as GS-23-166-W1.
SECTION 120+50NE
• GS-23-169: This hole was drilled outside of the resource area, and at a distance of 160 m
northeast of the previous boundary, CS-600 was encountered, with a 190.5 m interval of 0.79
g/t AuEq (0.38 g/t Au, 5.58 g/t Ag, 0.30 % Cu) and an enriched section of 66.0 m grading 1.44
g/t AuEq (0.79 g/t Au, 8.45 g/t Ag, 0.47 % Cu). At depth, the DS5 Domain was intersected at
a step -out distance of 300 m to the north from the previously defined resource area. An
intercept of 133.5 m grading 0.97 g/t AuEq (0.89 g/t Au, 5.55 g/t Ag, 0.02 % Cu) was reported.
• GS-23-170: This hole was designed to expand the northern extent of the CS-600 Domain. An
intercept of 516.0 m grading 1.19 g/t AuE q (0.89 g/t Au, 2.86 g/t Ag, 0.23 % Cu) was
encountered. This intercept represents a wider than expected interval of mineralization within
the northern aspect of the CS -600 Domain. An enriched section measured 90.0 m grading
2.07 g/t AuEq (1.93 g/t Au, 3.55 g/t Ag, 0.09 % Cu).
Table 1: Drilling Results for Goldstorm Deposit in Press Release August 15, 2023
Section Hole Zone From
(m) To (m) Interval
(m) Au (g/t) Ag (g/t) Cu (%) AuEq
(g/t)
117+50NE GS-22-166 Hole abandoned, not sampled
117+50NE GS-23-166-W1
CS600 430.50 583.50 153.00 0.75 14.02 0.33 1.29
inc. 559.50 561.30 1.80 1.37 374.00 0.09 5.18
DS5 784.50 856.50 72.00 0.58 2.35 0.01 0.61
and 940.50 985.50 45.00 1.02 5.14 0.02 1.09
and 1039.50 1108.50 69.00 0.71 1.78 0 0.74
117+50NE GS-23-168-W1
300H 1.50 76.50 75.00 1.27 5.89 0.01 1.34
CS600 912.00 1208.00 296.00 0.65 5.03 0.35 1.11
inc. 933.00 985.50 52.50 0.93 3.30 0.40 1.43
inc. 1098.00 1200.00 102.00 0.64 7.39 0.50 1.30
120+50NE GS-23-169
CS600 801.00 991.50 190.50 0.38 5.58 0.30 0.79
Inc. 880.50 991.50 111.00 0.62 8.11 0.37 1.13
inc. 903.00 969.00 66.00 0.79 8.45 0.47 1.44
DS5 1162.50 1296.00 133.50 0.89 5.55 0.02 0.97
inc. 1162.50 1221.00 58.50 1.27 11.18 0.03 1.41
120+50NE GS-23-170 CS600 937.50 1453.50 516.00 0.89 2.86 0.23 1.19
Table 2: Drill data for holes in Press Release August 15, 2023
Section Hole ID UTM E NAD 83 UTM N NAD 83 Elevation (m) Azi (ᵒ) Dip (ᵒ) Depth (m)
120+50NE
GS-23-166 428933 6273444 1398 325 -80 558
GS-23-166-W1 428910 6273472 1146 314 -81.5 1122
GS-23-168-W1 428583 6273554 816 294 -57.5 1281
117+50NE
GS-23-169 429030 6273666 1495 335 -82 1335.8
GS-23-170 429026 6273660 1495 312 -74 1512
Qualified Person
The Qualified Person for this news release for the purposes of National Instrument 43 -101 is Tudor
Gold’s President and CEO, Ken Konkin, P.Geo. He has read and approved the scientific and technical
information that forms the basis for the disclosure contained in this news release. Dino Cremonese,
P. Eng., is the Qualified Person for Teuton Resources Corp. and as he is the CEO of Teuton he is not
independent of the Company. Although he has not verified the information contained in this release,
he has no reason to doubt its accuracy.
QA/QC
Diamond drill core samples were prepared at 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 Tudor Gold personnel. MSA Laboratories quality system complies
with the requirements for the International Standards ISO 17025 and ISO 9 001. MSA Labs is
independent of the Company.
About Treaty Creek
Teuton was the original staker of the Treaty Creek property, host to the large Goldstorm deposit,
assembling the core land position in 1985. It presently holds a 20% carried interest in the Treaty Creek
Project (Tudor Gold is responsible for paying all exploration costs up until such time as a production
decision is made and owns a 60% inter est; American Creek Resources owns the remaining 20%
interest, also carried). Additionally, Teuton owns a 0.98% Net Smelter Royalty in the Goldstorm
deposit area. It also owns numerous additional royalty interests within the Sulphurets Hydrothermal
system on properties such as the King Tut, Tuck, High North, Orion, Delta and Fairweather properties.
The Treaty Creek Project contains the Goldstorm Deposit (a large gold-copper porphyry system) as
well as several other mineralized zones. As disclosed in the March 2023 News Release, the Goldstorm
Deposit has an Indicated Mineral Resource (as defined in NI 43 -101) of 23.37 Moz of AuEq grading
1.13 g/t AuEq (18.75 Moz gold grading 0.91 g/t, 2.18 Blbs copper grading 0.15 %, 112.4 Moz silver
grading 5.45 g/t) and an Inferred Mineral Resource (as defined in NI 43 -101) of 7.35 Moz of AuEq
inc. 1005.00 1215.00 210.00 1.23 3.17 0.18 1.48
inc. 1005.00 1095.00 90.00 1.93 3.55 0.09 2.07
• All assay values are uncut and intervals reflect drilled intercept lengths.
• HQ and NQ2 diameter core samples were sawn in half and typically sampled at standard 1.5m intervals.
• The following metal prices were used to calculate the Au Eq metal content: Gold $1800/oz, Ag: $20/oz, Cu: $3.5/lb. Calculations used the
formula AuEq = Au g/t + (Ag g/t*0.0098765) + (Cu ppm*0.0001185). All metals are reported in USD and calculations consider recoveries of
90 % for gold, 80 % for copper, and 80 % for silver.
• True widths have not been determined as the mineralized body remains open in all directions. Further drilling is required to determine the
mineralized body orientation and true widths.
grading 0.98 g/t AuEq (5.54 Moz gold grading 0.74 g/t, 0.85 Blb copper grading 0.16 %, 45.08 Moz
silver grading 5.99 g/t), with a pit constrained cut-off of 0.5 g/t AuEq and an underground cut-off of 0.7
g/t AuEq. The Goldstorm Deposit has been categorized into three dominant mineral domains and
several smaller mineral domains. The CS -600 domain largely consists of an intermediate intrusive
stock and hosts the majority of the copper mineralization within the Goldstorm Deposit. CS -600 has
an Indicated Mineral Resource of 9.86 Moz AuEq grading 1.10 g/t AuEq (6.22 Moz gold grading 0.70
g/t, 1.98 Blbs copper grading 0.32 %, 51.1 Moz silver grading 5.71 g/t) and an Inferred Mineral
Resource of 3.71 Moz AuEq grading 1.19 g/t AuEq (2.32 Moz gold grading 0.75 g/t, 0.76 Blb copper
grading 0.36 %, 18.71 Moz silver grading 6.01 g/t). The Goldstorm Deposit remains open in all
directions and requires further exploration drilling to determine the size and extent of the deposit.
1 AuEq = Au g/t + (Ag g/t*0.0098765) + (Cu ppm*0.0001185)
About Teuton
Teuton owns interests in more than thirty properties in the prolific “Golden Triangle” area of northwest
British Columbia and was one of the first companies to adopt what has since become known as the
“prospect generator” model. This model minimizes share equity dilution while at the same time
maximizing opportunity. Earnings provided from option payments received, both in cash and in shares
of the optionee companies over the past 6 years, has provided Teuton with substantial income.
.
On Behalf of the Board of Directors of Teuton Resources:
"Dino Cremonese, P .Eng."
Dino Cremonese, P . Eng.,
President and Chief Executive Officer
For further information, please visit the Company's website at www.teuton.com or contact:
Barry Holmes
Director Corporate Development and Communications
Tel. 778-430-5680
Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Statements regarding Forward-Looking information
Certain statements contained in this press release constitute forward-looking information. These
statements relate to future events or future performance. The use of any of the words "could", "intend",
"expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to
matters that are not historical facts are intended to identify forward-looking information and are based
on the Company's current belief or assumptions as to the outcome and timing of such future events.
Actual future results may differ materially.
All statements relating to future plans, objectives or expectations of the Company are forward-looking
statements that involve various risks and uncertainties. There can be no assurance that such
statements will prove to be accurate and actual results and future events co uld differ materially from
those anticipated in such statements. Important factors that could cause actual results to differ
materially from the Company's plans or expectations include risks relating to the actual results of
current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays,
exploration cost overruns, availability of capital and financing, general economic, market or business
conditions, regulatory changes, timeliness of government or regulatory approval s and other risks
detailed herein and from time to time in the filings made by the Company with securities regulators.
The Company expressly disclaims any intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or otherwise except as otherwise
required by applicable securities legislation.