Teuton Resources Corp .
TEUTON RESOURCES CORP .
2130 Crescent Road
Victoria, BC V8S 2H3
Phone: (778) 430-5680
Website: www.teuton.com
News Release – January 17, 2024
Treaty Creek Property – 3.19 g/t Gold Equivalent (AuEq) Over 66 Meters (m)
Within Wider Intercepts of 258 m of 2.00 g/t AuEq and 570 m of 1.21 gt AuEq
In the Goldstorm Deposit
Vancouver, Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V)
("TFE"- Frankfurt) has received the seventh and final set of assays from its Joint Venture partner,
Tudor Gold Corp. (“Tudor Gold”) in respect of the 2023 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 S eabridge Gold’s KSM property and Newmont Mining’s Brucejack
property.
Tudor Gold has safely and successfully completed the 2023 drilling program with a total of 31,904
meters (m) drilled within areas encompassing the Goldstorm Deposit (the Deposit) and the
Perfectstorm Zone. The assay results reported in this release are from two drill holes that targeted the
northeastern area of the Deposit. Click to view plan map and cross sections.
Ken Konkin, President and CEO of Tudor Gold commented: “We are very pleased to release the
results from the last two drill holes of the 2024 drill program. We completed 33 holes this year of which
eight were completed at the Perfectstorm system and 25 drill holes at the Goldstorm Deposit. The
objective of the Goldstorm drilling was to convert as much of the Inferred Mineral Resources to the
Indicated Mineral Resource category as well as expand the Deposit into the north where we have
encountered the strongest Au-Cu-Ag mineralization to-date. I congratulate our field crews and service
contractors for completing yet another safe and successful season. Clearly the highlight of these last
two holes is the impressive continuation of encountering higher Au -Cu-Ag g rades than contained
within our latest NI 43 -101 Mineral Resource Estimate for the Goldstorm Deposit which hosts an
Indicated Mineral Resource of 23.37 million ounces of AuEQ grading 1.13 g/t AuEQ and an
Inferred Mineral Resource of 7.35 million ounces of AuEQ grading 0.98 g/t AuEQ.
An enriched core of mineralization occurs within the 300H and CS-600 domains. Drill hole GS-23-178-
W1 demonstrates this well; the gold -dominant 300H domain cut an impressive intercept of 138 m
grading 1.67 g/t AuEQ which contains a center core of mineralization that averages much higher;
3.08 g/t AuEQ over 57 m. Down hole within the CS -600 domain, we intersected a much more
impressive 258 m averaging 2.00 g/t AuEQ with an enriched center portion averaging 3.19 g/t AuEQ
over 66 m. It’s important to note that we are still encountering incredibly long drill hole intercepts such
as 570 m that averaged 1.21 g/t AuEQ within the CS-600 domain in hole GS-23-178-W1. However,
we are focussed on developing areas with the highest gold and copper grades of the Deposit and
expanding the Au-Cu CS-600 domain as a priority. We are confident that the copper content will be
an important factor as we advance this project. Within the DS5 domain, our last hole GS-23-180 was
unfortunately lost due to ground conditions and was abandoned in strong mineralization at depth. The
final 4.75 m averaged 2.31 g/t AuEQ. A significant intercept was encountered higher in the upper
part of the domain averaging 1.01 g/t AuEQ over 201 m and similarly had an enriched central
portion that averaged much higher: 1.82 g/t AuEQ over 81.5 m. Hole GS-23-178-W1 increases
the drilling density in a significant area of the CS-600 domain that is characterized as Inferred Mineral
Resources and will support potentially converting that to Indicated Mineral Resources whereas GS -
23-180 was a step-out exploration drill hole, outside the current resource model to the northeast and
will add overall ounces to the next mineral resource estimate.
Our technical team and consultants are currently updating the geological and resource model. Once
our final interpretation is complete, we will plan the 2024 drill hole program. The goal is to close -off
and completely constrain the entire Goldstorm Deposit so we can determine the location, shape, size
and grade of all mineralized domains. When the Deposit is completely drilled -off and we have
competed the final resource estimate, we plan to proceed with a Preliminary Economic Study (PEA).
The Goldstorm Deposit remains open in all directions and at depth.”
Section A
• GS-23-178-W1: This hole was drilled to target the CS-600 domain where the current Mineral
Resource Estimate is categorized as inferred mineral resources. The hole first intersected the
300H domain with 138.0 m grading 1.67 g/t AuEQ (1.60 g/t Au, 5.81 g/t Ag, 0.01 % Cu)
and then successfully intersected the CS -600 domain with an overall interval of 570.0 m
grading 1.21 g/t AuEQ (0.75 g/t Au, 8.09 g/t Ag, 0.31 % Cu) including 258.0 m grading
2.00 g/t AuEQ (1.30 g/t Au, 14.28 g/t Ag, 0.47 % Cu) and 66.0 m grad ing 3.19 g/t AuEQ
(1.99 g/t Au, 24.46 g/t Ag, 0.80 % Cu).
Section B
• GS-23-180: This hole was drilled as a 175 m northern step-out on the DS5 domain. The hole
successfully intercepted characteristic Au-Ag mineralization with a 201.0 m intercept of DS5
grading 1.01 g/t AuEQ (0.92 g/t Au, 4.93 g/t Ag, 0.04 % Cu) including an 81.5 m intercept
grading 1.82 g/t AuEQ (1.64 g/t Au, 9.36 g/t Ag, 0.07 % Cu). This hole was lost within well
mineralized fractured ground over the final 4.75 m that averaged 2.31 g/t AuEQ (2.17 g/t
Au, 11.85 g/t Ag, 0.02 % Cu).
Table 1: Drilling Results for Goldstorm Deposit in Press Release January 17, 2024
Section Hole Zone From
(m)
To
(m)
Interva
l
(m)
Au
(g/t)
Ag
(g/t)
Cu
(%)
AuEQ
(g/t)
A GS-23-178-
W1
300H 328.50 466.50 138.00 1.60 5.81 0.01 1.67
including 385.50 442.50 57.00 2.98 8.72 0.01 3.08
including 409.50 421.50 12.00 5.90 12.32 0.01 6.04
including 409.50 412.50 3.00 11.66 2.15 0 11.68
CS-600 1002.0
0
1572.0
0 570.00 0.75 8.09 0.31 1.21
including 1263.0
0
1521.0
0 258.00 1.30 14.28 0.47 2.00
including 1294.5
0
1360.5
0 66.00 1.99 24.46 0.80 3.19
Table 2: Drill data for holes in Press Release January 17, 2024
Section Hole ID UTM E NAD
83
UTM N NAD
83
Elevation
(m) Azi (ᵒ) Dip (ᵒ) Depth
(m)
A GS-23-178-
W1 428867 6273470 1279 297 -61 1554
B GS-23-180 429357 6273557 1225 270 -70 1466
Qualified Person
Mr. Ken Konkin, P. Geo., is the QP for Tudor Gold Corp. and has approved the technical information
disclosed in a January 16, 2024 news release by Tudor Gold , which includes the same technical
information contained within this release. D. Cremonese, P. Eng., is the Qualified Person for Teuton
Resources Corp. (as President of the Company he is not independent of the Company). Mr.
Cremonese has not personally verified the technical data taken verbatim from the Tudor Gold news
release but has no reason to doubt its accuracy.
including 1294.5
0
1318.5
0 24.00 3.01 44.37 1.07 4.71
B GS-23-180
DS5 836.00 1037.0
0 201.00 0.92 4.93 0.04 1.01
including 870.50 952.00 81.50 1.64 9.36 0.07 1.82
including 870.50 893.00 22.50 3.30 28.63 0.22 3.84
DS5 1080.5
0
1181.0
0 100.50 0.68 2.03 0.01 0.71
DS5 1410.4
5
1464.7
5 54.30 0.56 6.54 0.02 0.65
including 1460.0
0
1464.7
5 4.75 2.17 11.85 0.02 2.31
• 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 1.5 m 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.
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 9001. MSA Labs is
independent of Tudor Gold and 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 as well as in the northern portion of the Perfectstorm zone; within the southern portion of
the Perfectstorm zone, Teuton owns a 0.49% NSR with an option to increase that to 1.49% by paying
$1 million to the current owner. It also owns numerous additional royalty interests within the Sulphurets
Hydrothermal system on formerly 100%-owned properties such as the King Tut, Tuck, High North,
Orion, Delta and Fairweather properties (King Tut and Tuck now owned by Newmont Mining; High
North, Orion, Delta and Fairweather properties now owned by Goldstorm Metals).
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 Bl bs 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 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 could 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 re gulatory 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 whether a s a result of new information, future events or otherwise except as otherwise
required by applicable securities legislation.