August 31, 2009, Vancouver, BC: Teuton Resources Corp. (“Teuton”) (“TUO”) and Silver Grail Resources Ltd. (“Silver Grail”) (“SVG”) are pleased to announce that the first phase of drilling on the Clone gold property, situated 18km southeast of Stewart, BC, is complete.
The Clone property is host to at least four separate, parallel gold-bearing shear zones which contain both sulphide-gold-cobalt and iron oxide-gold mineralization. Altogether 20 holes were drilled testing a variety of targets along these shear zones that have been traced for over a kilometer in strike length. In Holes #15 to #20 inclusive, sections from 15 to 30 feet long contain semi-massive to massive hematite, specularite, chlorite, malachite, chalcopyrite and occasionally visible gold. The mineralized zones tend to be associated with more silicified, fine-grained to aphanitic andesites intercalated with pyroclastics.
Core logging is under way and the first two batches of samples have been sent to the assay lab. Sections with visible gold have been sent in for rush assay.
Basesd on the positive results in this drilling, a second phase of drilling is expected to start within a matter of days..
Canasia can earn a 50% interest in the property from joint owners Silver Grail and Teuton by expending $1.8 million over five years.
E.R. Kruchkowski, P. Geol., is the Qualified Person for the Clone project and has read and authorized this news release. Pioneer Laboratories of Richmond, BC, an accredited facility, is performing the analyses.
“Dino Cremonese, P.Eng.”
Silver Grail Resources Ltd.
Teuton Resources Corp.
If you would like to be added to Silver Grail’s or Teuton’s news distribution list, please send your email address to email@example.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. and Silver Grail Resources Ltd. do 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.