Teuton Resources Corp.: Geophysical Anomaly Identified at Treaty Creek Property
27 May 2014 - 10:30PM
Marketwired
Teuton Resources Corp.: Geophysical Anomaly Identified at Treaty
Creek Property
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 27, 2014) -
Teuton Resources Corp. ("Teuton")
(TSX-VENTURE:TUO)(FRANKFURT:TFE)(OTCBB:TEUTF) has commissioned a
geophysical report on the magnetotelluric survey transect completed
by Quantec Geoscience in 2012 on behalf of Seabridge Gold over the
proposed twin tunnels route on the Treaty Creek property. Mr.
Killin, P. Geo., a geophysicist and past VP of Interpretation at
Quantec Geoscience, analysed the Quantec data and provided his
interpretation. The Treaty Creek property is located 80 miles north
of Stewart, British Columbia at the north end of the Sulphurets
mineralized system which hosts the many mineral deposits of Pretium
Resources and Seabridge Gold.
Mr. Killin, P.Geo., concluded
as follows (see figure, attached): "There are two significant
geophysical anomalies identified along the transect. Zone A is a
near surface conductive anomaly that is present on at least 3
stations at varying depths. Zone A is near the end of the transect,
but has been confirmed as a real geophysical anomaly by
investigation of raw data and all steps leading to the inversion
section delivered by Quantec. The zone has the potential to be a
very large body based on the information provided, should it extend
to the southwest toward the Seabridge KSM property. It is a thick
conductive zone that may be connected at depth to another large
conductive body, Zone B.
"Geochemical analysis of the
transect and also extensions on both ends might give further
information on the possible sources below the transect. Further
surface prospecting is also recommended. The area between 215
through station 218 may give some idea of the character of Zone B.
Zone A is a very interesting target zone and warrants work. Further
geophysics would give a much better picture of this zone. It would
be advisable to have the data from this transect project included
into any future inversions or projects. Drill targeting is also an
option to be considered to explain the anomalous conductivity near
the southwestern end of the profile, Zone A."
Dino Cremonese, P.Eng.,
President of the Company, provided the following comment: "The Zone
A anomaly lies only a few hundred meters west of the end of Hole
CB09-14 which ran 241m of 0.8 g/t gold and may be related to that
mineralization. That hole ended in mineralization and was
proceeding in the direction of the anomaly when it was terminated.
Also, in 1986, Teuton personnel discovered gold and copper-bearing
float about 500m south of the anomaly in an area that was outside
the boundaries of the Quantec transect. The source of this float
could not be determined at the time due to extensive snow and ice
cover, much of which has melted back in the ensuing years. This
float and the adjacent Zone A anomaly suggest potential for the
location of a porphyry gold-copper body in the near vicinity."
Litigation
The Company has made a
settlement offer to American Creek Resources ("AMK") which would
end the litigation with respect to Treaty Creek and instead, focus
all energy onto exploration of this very promising property. Teuton
has proposed that it will unilaterally fund a large exploration
program to be conducted in 2014, operated by itself, after which
time further work would proceed as a joint venture with ownership
51% AMK and 49% TUO. The area around Zone A would be the prime
target of such work.
Ownership of the Treaty Creek
property was recently apportioned at 51% AMK, 49% TUO by the
Supreme Court of British Columbia. This decision has been appealed
by the Company.
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.
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.
Teuton Resources Corp.Dino Cremonese, P.Eng.President(604)
682-3680 or Toll Free: 1-800-879-2333(604)
682-3992www.teuton.com
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