Drill Hole Intersects 6.43 Metres Grading 17.83 g/t Gold at Clone Gold Property
December 19 2016 - 8:30AM
Teuton Resources Corp. (“Teuton”) (TSX-V:TUO)
(Frankfurt:TFE) (OTCBB:TEUTF) is pleased to report that the first
hole of the 2016 diamond drilling program at the Clone Gold
property intersected 6.43 metres grading 17.83 g/t gold from 46.33
to 52.76 metres. The Clone Gold property is located 20 km
southeast of Stewart in the Golden Triangle region of northwestern
British Columbia.
Hole CL-16-01 was designed to test the depth
potential of a trench excavated in 1995 which returned a grade of
11.65 g/t gold and 0.18% cobalt across 9.0 metres. It
was inclined at an angle of 55 degrees and ended at 111.9 metres.
Cobalt assays are pending.
Two lesser intersections were also reported in
the hole: the first ran 3.07 g/t gold over 3.05 metres
from 34.14 to 37.19 metres; the second ran 1.11 g/t gold over 33.6
metres from 78.3 to 111.9 metres (ending in mineralization).
At present there is not enough information to calculate true widths
of any of the intersections reported in the hole.
Gold-cobalt results from a further six holes are
awaited. The last five holes of the program were spotted at the
southeastern end of the bulk sampling area from which several
multi-ounce gold shipments have been taken.
The Clone gold and gold-cobalt bearing shear
zones were first discovered in 1995. Since that date almost
$6 million has been spent exploring a series of occurrences lying
along a 2km package of volcanic and sedimentary rocks. The
so-called Main Zone, situated in the southeast portion of this
system, has produced elevated gold grades both in trenches and in
diamond drill core.
Present ownership of the property is Makena
Resources 50%, Silver Grail Resources Ltd. 25% and Teuton Resources
25%.
Quality control procedures in place include the
field insertion of blanks and standards into the sample
stream. Analytical work was done by Pioneer Laboratories of
Richmond, BC., an accredited facility. Gold was analyzed by
30 gram fire assay with AA finish. The Qualified Person for
this news release is Dino Cremonese, P.Eng., who as President of
Teuton is not independent of the Company.
Big Gold Property
The Big Gold property adjoins to the south of
Teuton’s Orion property and lies about 50 km north-northwest of
Stewart, BC. Sampling in 2015 and 2016 disclosed several
areas containing anomalous to highly anomalous values in gold and
silver within northerly trending zones of sericite
schists.
Two areas were selected for drilling in 2016
under the theory that gold and silver values might improve with
depth. Altogether eight holes were drilled at various angles.
Although many intercepts were obtained containing anomalous levels
of gold, silver and zinc, no economic intersections of
mineralization were found.
About Teuton
Teuton owns interests in more than thirty
properties in the prolific “Golden Triangle” area of northwestern
British Columbia and was one of the first companies to adopt what
has since become known as the “prospect generator” model. Ten of
its properties are currently under option and cash proceeds from
these options have exceeded $1.1 million in the past eighteen
months, not including the value of shares received from the
optioning companies. Shareholders and other interested
parties can access information about Teuton at the Company’s
website, www.teuton.com.
Respectfully:
“Dino Cremonese, P.Eng.”
President, Teuton Resources Corp.
For more information contact Investor Relations
at 778-430-5680 or barry@teuton.com. If you would like to be
added to Teuton’s news distribution list, please send your email
address to dino@teuton.com
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.
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