Teuton Resources Corp. Announces Corporate Update
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct 8, 2013) - Teuton Resources Corp. ("Teuton") (TSX VENTURE:TUO) (TFE.F) (TEUTF) is pleased to provide the following corporate update of its activities.
Tennyson Property-The 2013 field season is now complete. Approximately 6,700 metres were drilled in 16 holes across three potentially related targets. Assays are expected in six weeks.
The program was operated by Brigade Resources at a budget of up to $4 million. In September of 2013, Teuton sold its remaining interest in the property to Brigade for $7 million, being $500,000 plus $6,500,000 subscription receipts of Brigade stock (about 29% of Brigade).
The Tennyson property is located 50km north of Stewart, BC (Golden Triangle region) and hosts porphyry copper-gold targets.
High Property-Assays from a five hole, 2013 program are awaited. The High property adjoins directly south of the Brucejack property of Pretium Resources and KSM property of Seabridge Gold, with the common boundary situated 65km north of Stewart, BC. Drilling in 2012 of a single hole into the King Tut zone on the High successfully returned an interval running 222m of 0.88g/t gold. Reconnaissance sampling of the UH zone on the High in 2013 returned ten grab samples ranging from 0.140 to 1.835 oz/ton gold.
Yellow Chris Property-Minor follow-up soil sampling was completed around a spot high of 1,002 ppm copper (previously reported), located on one of the Company's unoptioned blocks of Yellow Chris claims, situated east of Colorado Resources' North ROK copper-gold discovery in the Red Chris mine region. The top five surrounding soil geochem samples reported values of 511, 645, 790, 817 and 959 ppm copper, confirming the original discovery. Further detailed soil sampling is scheduled to be followed by an IP survey.
Treaty Creek Trial-The trial of S.C.B.C., Vancouver Registry, Action No. S107895, American Creek Resources Ltd., Plaintiff and Teuton Resources Corp., Defendant concluded Thursday, October 3, 2013. The trial Judge has reserved his decision for an indeterminate time. When the decision of the trial Judge is released Teuton will make the result public.
The Qualified Person for the purposes of this news release was D. Cremonese, P.Eng. All reported samples were analysed by Pioneer Labs, an accredited facility, in Richmond, BC.
In the next two weeks, various GoPro videos will be placed on the Company website at www.teuton.com. These include videos of the High property, the Treaty Creek property, the Four J's property and the Yellow Chris claims. Footage of adjoining properties will also be presented.
Respectfully:
Dino Cremonese, P.Eng., President, Teuton Resources Corp.
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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.
