Dallas, Texas (December 7, 2011) – StockGuru Shines its Spotlight on Teuton Resources Corp. (TSX: TUO)(FRANKFURT: TFE)(OTCBB: TEUTF). The Company announced yesterday additional results from six holes at its Tennyson copper-gold property, located north of Stewart in the Eskay Creek-Sulphurets-Premier region of northwestern British Columbia (the “Golden Triangle”).
The Company closed on December 7, 2011, at $0.5495, trading in a fifty-two week range of $0.798 – 0.282.
The holes, all of which returned copper-gold values, are presented in the table below (a drill plan map accompanies this news release):
| Drill Hole |
Interval (metres) |
Width (metres) |
Gold (g/t) |
Copper (%) |
Copper Equiv. * (%) |
|||||
| TN11-09 | 0.5 to 101.5 | 101.0 | 0.26 | 0.32 | 0.50 | |||||
| TN11-101 | 0.3 to 149.7 | 149.4 | 0.21 | 0.34 | 0.49 | |||||
| TN11-11 | 0 to 119.8 | 119.8 | 0.19 | 0.30 | 0.43 | |||||
| TN11-12 | 1.2 to 68.9 | 67.7 | 0.21 | 0.30 | 0.45 | |||||
| TN11-13 | 98.1 to 158.12 | 60.0 | 0.14 | 0.22 | 0.32 | |||||
| TN11-14 | 54.6 to 161.23 | 106.6 | 0.24 | 0.42 | 0.59 |
| * | Based on $1350 oz/ton gold and $3.45 lb copper, metallurgical recoveries assumed to be 100%. All widths drill indicated only. |
| 1 | Partial results only |
| 2 | Ice from 0 to 35.4m |
| 3 | Ice from 0 to 54.6m |
Given that the vertical hole from Pad#3, Hole TN11-13, first encountered copper mineralization at 98m downhole (the first 35.4m was ice), it appears that the zone is curving to the west. The zone remains open to the west and mineralogical indications suggest that this may be the direction toward the center of the porphyry copper-gold zone. Hole TN11-14, the most western of the holes drilled to date, returned the highest grade of the six holes reported above: 106.6m of 0.59% copper equivalent. Further drilling is planned from Pad#4 in 2012, which lies to the west along the azimuth of TN11-14.
The 14 holes drilled in 2011 have extended copper-gold mineralization for approximately 450 metres along strike from the downward expression of the mineralization in Hole TN11-03 to that in TN11-14.
Two holes remain to be assayed from the 2011 program
D. Cremonese, P.Eng., President of the Company, stated: “Drilling at Tennyson in 2011 was highly successful. We have proven 450 metres of continuity to the copper-gold system and have shown that we can drill through the ice. All holes encountered copper-gold mineralization ranging from 0.32 to 0.67 copper equivalent. If the zone continues westward then this is a real plus, because the ice only extends another 350 to 400m in that direction. Beyond that point is snow-covered rock changing to bare rock at higher elevations.”
The Company is also pleased to report that a major mining concern with operating mines in North America has approached Teuton regarding the Tennyson property and that a confidentiality agreement has been signed. Representatives of this concern have made three visits to Stewart to examine Tennyson core, the most recent occurring a week ago. Representatives from an Asian copper smelter have also approached the Company regarding the property.
The QA/QC protocol system employed during the 2011 exploration program included procedures for monitoring the chain-of-custody of samples and the insertion of blanks and reference standard samples in every batch of samples. Loring Laboratories of Calgary, Alberta, an accredited facility, performed the analyses. The Qualified Person for the purposes of this news release is D. Cremonese, P.Eng.
Dino Cremonese, P.Eng., President, Teuton Resources Corp.
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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