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TUO Teuton Resources Corp

1.26
-0.02 (-1.56%)
17 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Teuton Resources Corp TSXV:TUO TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.02 -1.56% 1.26 1.24 1.26 1.28 1.25 1.25 13,100 20:59:59

Teuton Resources Corp.: Targets Identified by Geophysical Analysis at Del Norte

24/07/2014 1:30pm

Marketwired Canada


Teuton Resources Corp. ("Teuton") (TSX VENTURE:TUO)(FRANKFURT:TFE)(OTCBB:TEUTF) 
has commissioned a geophysical report on an airborne survey completed in 2005 by
Aeroquest over the Del Norte property. Mr. Killin, P. Geo., a geophysicist and
past VP of Interpretation at Quantec Geoscience, analysed the Aeroquest data and
provided his interpretation. The Del Norte property is located 20 miles east of
the town of Stewart in northwestern British Columbia within the Golden Triangle
(see Fig. 1).


The Del Norte property is one of Teuton's original claim holdings dating back to
1983. It was staked to cover three gold-bearing streams (Nelson, Del Norte and
Willoughby Creeks) which flow west-east from the Cambria Icefield into the White
River. A definitive source for the placer gold in these streams has not yet been
determined. Placer streams are relatively rare in the Stewart region but those
that exist are often associated with major mineral deposits. As an example,
Sulphurets Creek is a known gold placer stream and drains the area hosting the
major KSM, Snowfield and Brucejack gold deposits of Seabridge Gold and Pretium
Resources. Bitter Creek, another placer stream, drains the Red Mountain gold
deposit of IDM Mining, recently purchased from Seabridge Gold. Nelson Creek, the
most northerly placer stream on the Del Norte property, was reportedly worked
for its gold content by Cominco during the 1930's.


Over the past thirty years over $4.5 million has been spent at Del Norte, mostly
by three companies who previously held the property under option. During that
time 92 holes were drilled, testing many different mineralized zones. Most of
these zones lie along a north-south trending contact between sediments on the
east and volcanics on the west. 


In 2002 the K zone was discovered. Three holes drilled into this zone yielded
intersections averaging 29.1 metres (95.6 ft.) grading 0.145 oz/ton gold and
6.13 oz/ton silver, or 0.243 oz/ton gold equivalent (at the current 62.5:1
gold-silver ratio). No follow-up drilling has taken place because the zone was
on the edge of an icefield. Northwesterly, and at lower elevations, more than
fifty holes were drilled into the LG vein system lying directly along the
volcanic-sediment contact. Intersections in the LG vein system ranged from nil
to 15.5m (51.0 ft.) grading 0.192 oz/ton gold and 10.23 oz/ton silver, or 0.356
oz/ton gold equivalent. 


Mr. Killin, P.Geo., has identified 6 different target areas for follow-up work
in 2014 (see Fig. 2). All of these are to be examined during this summer's work
program. Of particular interest are the K-1 and K-2 targets, which may represent
extensions of the K zone mineralization. It is likely that the icefield
surrounding the K zone will have melted back considerably over the last 12
years. The current plan is to drill test the most viable zones discovered during
the field examinations, contingent upon obtaining the necessary financing.


Dino Cremonese, P.Eng., President of the Company, provided the following
comment: "The Del Norte is one of Teuton's premier gold-silver properties. Since
Sabina Gold & Silver earned its 50% interest in the claims in 2007, the property
has lain fallow. Our recent purchase of Sabina's 50% interest means that we have
regained 100% control of this promising property. We look forward to getting on
the claims as soon as possible to resume exploration." 


The Qualified Person for the purposes of this news release is D. Cremonese,
P.Eng., who, as President and CEO, is not independent of the Company. Mr.
Cremonese has not independently verified all of the geophysical information in
Mr. Killin's report, but believes it to be accurate and in conformance with
industry standards. All drill intersections cited in this news release are also
believed to be accurate and in conformance with industry standards, however true
widths of mineralization are not known.


Shareholders and other parties interested in following Teuton are encouraged to
visit the Company's website at www.teuton.com, recently updated.


Respectfully:

Dino Cremonese, P.Eng., President,

Teuton Resources Corp. 

If you would like to be added to Teuton's news distribution list, please send
your email address to gary.teuton@shawlink.ca.


This news release includes certain forward-looking statements concerning the
future performance of our business, its operations and its financial performance
and condition, as well as management's objectives, strategies, beliefs and
intentions. Forward-looking statements are frequently identified by such words
as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and
similar words referring to future events and results. Forward-looking statements
are based on the current opinions and expectations of management. All
forward-looking information is inherently uncertain and subject to a variety of
assumptions, risks and uncertainties, including the speculative nature of
mineral exploration and development, fluctuating commodity prices, competitive
risks and the availability of financing, as described in more detail in our
recent securities filings available at www.sedar.com. Actual events or results
may differ materially from those projected in the forward looking-statements and
we caution against placing undue reliance thereon. Teuton Resources Corp. does
have an ongoing obligation to disclose material information, as it becomes
available.


The TSX Venture Exchange has neither approved nor disapproved the information
contained herein. 


To view the Location Map associated with this press release, please visit the
following link: http://media3.marketwire.com/docs/959105_Location_Map.pdf.


To view the Targets Map associated with this press release, please visit the
following link: http://media3.marketwire.com/docs/959105_Targets_Map.pdf.   


FOR FURTHER INFORMATION PLEASE CONTACT: 
Teuton Resources Corp.
202-2187 Oak Bay Avenue
Victoria, BC  V8R 1G1
(604) 682-3680 or Toll Free: 1-800-879-2333
(604) 682-3992 (FAX)
www.teuton.com

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