Teuton Provides Update on 2023 Exploration At Treaty Creek Project, Golden Triangle, Northwestern British Columbia
TEUTON RESOURCES CORP .
2130 Crescent Road
Victoria, BC V8S 2H3
Phone: (778) 430-5680
Website: www.teuton.com
NEWS RELEASE
Teuton Provides Update on 2023 Exploration At Treaty Creek Project,
Golden Triangle, Northwestern British Columbia
5,400 Metres Drilled to Date
June 6, 2023 Victoria, Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V)
("TFE"- Frankfurt) announces that it has received a report from its Joint Venture Partner Tudor Gold Corp.
(“Tudor Gold”) stating that drilling progress has been made on its 2023 exploration program (the
“Program”) at the Treaty Creek Joint Venture property, located in the Golden Triangle of Northwest British
Columbia.
To date, the Tudor Gold has successfully completed over 5,400 meters of infill and step-out drilling, which
forms part of a larger diamond drilling campaign spanning at least 25,000 meters. Currently, there are four
drill-rigs in operation. [For plan view, click here: http://teuton.com/PlanView0623].
The first hole of the season, GS-23-164, a 150-meter step-out to the northeast has successfully reached
its intended depth, intersecting the DS-5 Zone. This intersection revealed mineralization and veining from
558 m to 1,083 m, including a consistently observed, strongly altered, stockwork vein zone from 885 m to
972 m, similar to previous DS-5 holes.
Another noteworthy drill -hole GS-23-167, a 170 -meter step -out, recently entered the CS -600 Zone
intercepting disseminated chalcopyrite with minor copper sulphosalts and several semi -massive
chalcopyrite veinlets associated with strong silicification and potassic alteration. [For core photos, click
here: http://teuton.com/CorePhotos0623]. The Goldstorm system is now approaching 2,000 meters in
length along the NE axis and remains open in all directions and at depth.
Based on the exciting results of holes GS -23-164 and GS-23-167, another step-out drill hole, GS-23-169,
was collared and is currently at 357 m of a planned 1200 m depth targeting a further 150 m NE step out
from GS -23-167 of the CS -600 Zone. Furthermore, the technical team is planning to construct two
additional drill pads for future drilling activities located at approximately 150 and 300 meters further to
the northeast. These new drill pad locations will enable continued exploration of gold -copper
mineralization targeting the north and northeast extensions of the CS-600 and DS-5 zones.
In addition to the step-out holes, two infill holes are currently targeting areas of the Goldstorm Deposit to
convert inferred resources to the indicated category. Hole GS-23-166-W1, is at 570 m of a planned 1150
m depth and targeting a pocket of inferred CS-600 ounces, as well as a northward expansion of the DS -5
zone. Hole GS-23-168 is at 1008 m of a planned 1800 m depth and targeting the deep CS-600 zone infilling
between holes GS-22-157 and GS-21-113-W2.
Results from the Program will be provided by Tudor Gold once final assays are received and compiled.
Ken Konkin, President and CEO of Tudor Gold , comment ed: “The safe and efficient start -up of 2023
exploration campaign has been a huge success. We thank our good neighbours at the Brucejack Mine for
allowing our ground crews to mobilize drills, equipment and supplies over our winter road by utilizing the
Brucejack Mine access road. We have successfully completed this exercise over that past few years and
we very much appreciate the assistance to allow ou r crews to safely get the job done. The recent drill
intercept in our northeastern most hole GS -23-167 has prompted our technical team to construct more
drill pads to target the northeastern aspect of the deposit as clearly the CS -600 domain continues to
expand in this direction. Pad builders are now completing several set-ups for the two-remaining drill-rigs
that are committed to drill the Perfectstorm Zone which lies equi-distant between our Goldstorm Deposit
and Seabridge Gold’s Iron Cap Deposit. We anticipate the start-up of the two rigs at Perfectstorm over the
next 2-3 weeks.”
The Program
The 25,000 m diamond drilling program at Treaty Creek has been designed to test the north and northeast
mineral extensions of the Goldstorm Deposit where drilling in 2021 and 2022 intercepted the highest
grades of gold, copper and silver mineralization at the Treaty Creek Project. These results contributed to a
significantly upgraded Mineral Resource Estimate, which reported an Indicated Mineral Resource of 23.37
million ounces (Moz) of gold equivalent (AuEQ) grading 1.13 g/t AuEQ and an Inferred Mineral Re source
of 7.35 Moz of AuEQ grading 0.98 g/t AuEQ. In addition to the northern step-out drilling at the Goldstorm
Deposit, Tudor Gold plans to carry out exploration drilling at the Perfectstorm Zone (“PSZ”) to follow up
on six drill holes that were drilled in 2020 and 2021 which all intercepted gold and silver mineralization,
highlighted by hole PS -21-06 which returned 118 m of 0.66 g/t gold, 3.69 g/t silver including 31.5 m of
0.84 g/t gold, 6.09 g/t silver. PSZ is a gold-dominant mineralized system measuring 1.3 kilometers (km) in
strike length and is located approximately 2.5 km southwest of the Goldstorm Deposit and approximately
2.5 km northeast of Seabridge Gold’s Iron Cap Deposit near the southwestern boundary of the Treaty Claim
block.
Qualified Person
The Qualified Person for this news release for the purposes of National Instrument 43-101 – Standards of
Disclosure for Mineral Projects (“NI 43-101”) is Tudor Gold’s President and CEO, Ken Konkin, P .Geo. He has
read and approved the scientific and t echnical information that forms the basis for the disclosure
contained in this news release. Dino Cremonese, P . Eng., is the Qualified Person for Teuton Resources;
although he has not independently verified the technical information contained in this news release, he
has no reason to believe it is not reliable; as President and CEO of Teuton, he is not 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% interest; 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 hosts the Goldstorm Deposit, a large gold -copper porphyry system, as well a s
several other mineralized zones. As disclosed in the March, 2023 news release [click here:
http://teuton.com/2023ResourceEstimate/], 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 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 Golds torm 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.
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 minimize s share equity dilution while at the same time
maximizing opportunity. Earnings provided from option payments (received in cash and often also in
shares of the optionee companies), have provided substantial income to Teuton.
Interested parties can access information about Teuton at the Company’s website, www.teuton.com.
Respectfully submitted,
"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
Corporate Development and Communications
Tel. 778-430-5680
Email: [email protected]
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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 bel ief 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 risk s and uncertainties. There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ materially from those anticipated in such statements.
Important factors that could cause actual results to diffe r 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 capita l and financing, general
economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals
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
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