Vancouver, Canada –– Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TFE”- Frankfurt) and Silver Grail Resources Ltd. (“Silver Grail”) (“SVG”-TSX-V) has received assay results from five holes totalling 1,597 metres, one of which was drilled on the Midas property (owned 75% by Teuton, 25% by Silver Grail) with the remaining four on the Konkin Silver property (50% Teuton, 50% Silver Grail). All holes tested anomalies detected by previously flown, airborne geophysical surveys.
Regrettably, none of the holes encountered economic gold and/or silver mineralization.
D. Cremonese, P.Eng., President of both Teuton and Silver Grail commented as follows: “At the beginning of 2021 we decided to drill three of more than twenty ZTEM anomalies discovered during surveys carried out in 2018 on various properties in the Stewart region. Although 3 of the 4 holes drilled on the Konkin Silver property did intersect long intervals of sulphides, chiefly pyrite, they were barren of precious metals. The one hole drilled on the Midas had to be discontinued for mechanical reasons before it reached target depth.
Drilling of the third target situated on the Eskay Rift property (100% Teuton) was postponed because of the lateness of the season and the onset of inclement weather. The Eskay Rift property is located over 50 miles northwest of the Midas and Konkin Silver and is underlain by wholly different rock types. The ZTEM signature is also much different and is interpreted by geophysicists as likely being caused by copper and gold mineralization based on local considerations. We are very much looking forward to drilling this prospect in 2022. ”
Drill core samples were sent to 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 Teuton personnel. MSA Laboratories quality system complies with the requirements for the International Standards ISO 17025 and ISO 9001. MSA Labs is independent of the Company.
D. Cremonese, P.Eng., is the Qualified Person for Teuton. As President of the Company he is not independent.
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. Teuton earned $3.9 million net income in 2020 and a further $2.4 million in the first quarter of 2021. Its income is derived from option payments.
Teuton was the 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 Treaty Creek (carried until such time as a production decision is made). Interested parties can access information about Teuton at the Company’s website, www.teuton.com.
About Silver Grail
Silver Grail owns interests in over 12 mineral properties in the southern portion of the Golden Triangle, all located within 35km of the town of Stewart, BC. Many of these properties contain veins or shear zones hosting significant amounts of silver mineralization, others like the Clone property contain gold. In addition, the Company also owns interests in three other properties in British Columbia containing cobalt mineralization. At this time, the most prospective of these is the Pacifico on northern Vancouver Island which has some of the most anomalous cobalt stream geochemistry in the province.
“Dino Cremonese, P.Eng.”
Dino Cremonese, P. Eng.,
President and Chief Executive Officer,
Teuton Resources Corp.
Silver Grail Resources Ltd.
For further information, please visit the Company’s website at www.teuton.com or contact:
Director Corporate Development and Communications
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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 regulatory 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 as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.