🕐19.01.10 - 23:42 Uhr
Teuton Resources (TUO) Treaty Creek Results
TEUTON RESOURCES CORP.
207-675 W.
Hastings Street
Vancouver, BC V6B 1N2
Phone: (604) 682-3680 Fax: 682-3992
Toll Free: 1-800-879-2333
Website: www.teuton.com
NEWS RELEASE
TREATY CREEK DISCOVERY HOLE RUNS
241 METRES OF 0.80 g/t GOLD
January 12, 2010--- Teuton Resources Corp.
("Teuton") (TSX-V: TUO) and
American Creek Resources Ltd.
("American Creek") (TSX-V: AMK) and are
pleased to release the final batch of assay results comprising 18 of 32
holes from the 2009 drill program conducted at the Treaty Creek Project
located in northwestern British Columbia.
A promising new gold discovery was made on the Copper Belle: Hole CB-14,
the most northwesterly hole drilled on this zone to date, ran 241 metres of
0.80 g/t gold and ended in mineralization.
The table below summarizes data
for this hole:
Drill Hole
>From (m)
To (m)
Interval (m)
Gold (g/t)
CB-14
114.00
355.70
241.7
0.80
including
114.00
158.00
44.00
0.56
including
193.85
248.00
54.15
1.44
including
262.00
355.70
93.7
0.89
Note: true widths are unknown at this time
Hole CB-14 is the longest interval of gold drilled to date at Treaty Creek
and compares favourably with holes reported by both Seabridge Gold Inc.
(SEA:TSX, SA:NYSE) and Silver Standard Resources Ltd.
(TSX:SSO, NASDAQ:SSRI)
at their KSM and Snowfield properties, respectively, located immediately to
the south of Treaty Creek.
Seabridge reported on January 11, 2010 that the
KSMs Mitchell zone now ranks as the largest gold deposit ever found in
Canada with 33.7 million ounces of measured and indicated gold resources.
The reported average gold grade for the Mitchell, the largest of Seabridges
three deposits making up the KSM, is 0.60 g/t.
Hole CB-14s gold grade, by
comparison, is 0.80 g/t.
While not a true comparison, this provides a
context for the hole.
Commenting on the discovery, Mr.
Cremonese, P.Eng., President of Teuton
Resources Corp., said: "This is truly an outstanding hole.
It puts Teuton
and American Creek on the threshold of defining a gold resource at Treaty
Creek.
We now know we have a gold deposit, it just remains to determine the
size." Mr.
Cremonese further commented: "Just three years ago Seabridge
Gold drilled the first 8 holes at the Mitchell deposit and they averaged
267m in length and 0.79 g/t gold.
Our discovery hole is in the same league.
We look forward to re-drilling this hole to its ultimate depth later this
year as well as many holes around it to establish a resource at the Copper
Belle."
Mr.
Darren Blaney, Chief Operating Officer of American Creek stated: "The
drilling on Treaty just gets better and better.
This latest discovery hole
on the Copper Belle zone combined with the earlier VMS discovery on the GR2
really bodes well for the future of the project.
We are starting to unlock
the geological potential at Treaty and are looking forward to future
drilling in 2010."
In addition to the wide interval of gold discovered in hole CB-14, hole
CB-16 also intersected similar grades with 49.2 metres of 0.76 g/t gold.
This hole also ended in the gold-rich mineralized zone.
The table below
includes highlights from additional holes drilled into the Copper Belle:
Drill Hole
>From (m)
To (m)
Interval (m)
Gold (g/t)
CB-09-03
5.00
84.00
79.00
0.43
including
56.00
70.00
14.00
1.06
CB-09-04
108.00
124.00
16.00
0.73
CB-09-05
142.35
172.00
29.65
0.45
CB-09-05B
2.50
40.00
37.50
0.37
219.00
232.00
16.00
0.86
330.00
341.06
11.06 (*)
0.50
CB-09-08
4.00
226.00
222.00
0.37
including
4.00
118.00
114.00
0.48
including
4.00
82.00
76.00
0.56
CB-09-09
3.00
137.00
134.00
0.40
including
55.00
95.00
40.00
0.55
CB-09-10
2.00
45.00
43.00
0.71
119.00
331.00
212.00(*)
0.47
including
119.00
137.00
18.00
0.85
CB-09-11
41.00
341.00
300.00
0.46
including
41.00
270.00
229.00
0.52
including
41.00
58.00
17.00
0.88
including
70.00
134.00
64.00
0.79
including
70.00
112.00
42.00
0.98
CB-09-12
81.00
117.20
36.20
0.76
including
99.00
117.20
11.80
1.77
225.00
251.00
26.00
1.00
303.00
321.20
18.20
0.68
CB-09-13
76.00
118.00
42.00
0.46
210.00
315.00
105.00
0.30
CB-09-15
88.00
164.00
76.00
0.63
including
88.00
136.00
48.00
0.84
including
88.00
124.00
36.00
0.98
CB-09-16
217.00
249.00
30.00
0.57
287.00
336.19
49.19 (*)
0.76
including
304.00
336.19
32.19 (*)
1.01
Note: true widths are unknown at this time
(*) Ended in mineralization.
Drilling on the Copper Belle zone returned wide intervals of gold, expanding
on positive drill results from 2007.
Future drilling will focus on
enlarging the size of this bulk-tonnage style gold-copper-molybdenum
porphyry deposit with the objective of defining a resource.
GR2 Zone
More high-grade intersections of silver and base metals were discovered in
the GR2 zone, expanding the size of this promising new VMS discovery.
Highlights from previous 2009 GR2 drilling included gold intersections as
high as 5.44 g/t over 14.5 metres and silver intersections as high as
2,280.00 g/t over 0.50 metres (see news release dated November 30, 2009).
The table below summarizes highlights from the final four GR2 holes:
Drill Hole
>From (m)
To
(m)
Interval (m)
Gold
(g/t)
Silver (g/t)
Cu (%)
Pb (%)
Zn
(%)
GR2-09-08
138.67
141.15
2.48
---
98.71
---
---
---
including
140.15
140.65
0.5
0.91
212.00
---
---
---
GR2-09-09
116.45
117
0.55
2.46
98.7
---
---
---
GR2-09-09
192.75
194.50
1.75
---
166.37
---
---
---
including
193.25
194
0.75
---
150
---
---
---
including
194
194.5
0.5
---
288
---
---
---
GR2-09-09
213.75
234.70
20.95
1.22
---
---
---
---
including
217.50
220.12
2.62
4.98
---
---
---
---
GR2-09-10
238.70
239.40
0.70
0.89
36.8
---
1.76
0.32
GR2-09-11
179.4
179.8
0.4
---
238
---
6.25
---
191
191.3
0.3
---
164
---
---
---
207.9
208.8
0.9
---
56.2
---
---
---
236.75
238.20
1.45
---
105.75
---
---
---
including
237.95
238.20
0.25
---
442
---
9.89
---
270
270.45
0.45
---
236
1.07
5.51
2.67
279
279.5
0.5
3.60
60.1
0.57
1.36
0.56
279.5
280.05
0.55
---
36.3
---
1.8
---
281.45
281.9
0.45
1.78
80.1
---
---
---
Note: true widths are unknown at this time
With the completion of the 2009 drill program, the mineralized structures in
the GR2 zone appear to be continuous for over 250 metres along strike, and
down-dip to depths of over 220 metres from the surface.
The system is still
open in several directions and at depth.
Eureka Zone
One hole was drilled in the Eureka zone in order to test drilling conditions
for planning a future drill program on this target.
Due to the nature of the
rock, the upper portion of the hole was drilled with a tri-cone bit
resulting in no recovery until a depth of 30.25 metres.
Highlights of hole
TG-01 included 60.25m of 0.45 g/t gold from 30.25 to 90.90 metres.
Copper
increases in quantity from this depth to the bottom of the hole, but the
poor recoveries obtained in this interval made the estimation of the grades
unclear.
The hole had to be abandoned at 164.59 metres.
Future drilling in
the Eureka zone will likely involve tri-coning to a greater depth in order
to reach stable rock before core drilling.
Treaty Creek QA/QC
All 2009 Treaty Creek drill holes were surveyed using a down-hole EZ-Shot
probe to monitor drillhole deviations.
All 2007 and 2009 drill collars were
surveyed by a certified independent surveyor, using a Leica GS50
differential GPS with <10cm precision.
The QA/QC protocol system employed
during the 2009 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.
Cross-check analyses were
conducted at a second external laboratory (ALS Chemex Laboratories in
Vancouver, BC) from blind duplicate samples.
Drill core samples were assayed
at Eco-Tech Laboratory Ltd., in Kamloops, BC using fire assay and atomic
adsorption finish methods for gold, aqua regia digestion with ICP finish
methods for other elements, and ore grade aqua regia digestion with AA
finish for specific mineralized intervals.
Specific gravity for density
measurements was also determined in the assay procedures.
American Creek holds a 51% interest in the Treaty Creek Project with Teuton
holding the remaining 49%.
Under the terms of the Option Agreement with
Teuton, American Creek has elected to earn an additional 9% interest (for an
aggregate total of 60%) by making all expenditures necessary to bring the
project to feasibility.
American Creek is the operator of the project.
Exploration activities are being conducted by American Creek personnel under
the supervision of Raul Sanabria, M.Sc., EurGeol., P.Geo., Vice President,
Exploration.
As previously stated, the Treaty Creek Project is located directly north of
and adjacent to the KSM project held by Seabridge.
Seabridges proposed
development concept for the KSM deposit includes constructing twin tunnels
to transport ore through the heart of the Treaty Creek property.
Seabridge
presently has no legal interest in the Treaty Creek mineral claims.
Access
would be granted by American Creek and Teuton only on terms maximizing value
to their respective shareholders.
Raul Sanabria, P.
Geo., is the Qualified Person for the purposes of National
Instrument 43-101 for the Treaty Creek Project.
Mr.
Sanabria has verified
and approved the contents of this news release.
Mr.
Sanabria has not
verified the resource results that were previously disclosed by Seabridge
Gold Inc.
and Silver Standard Resources Inc., respectively.
American Creek Resources Ltd.
is a Canadian mineral exploration company
focused on the acquisition, exploration and development of mineral deposits
within the Province of British Columbia, Canada.
Teuton Resources Corp.
is a Canadian exploration company focused on the
Stewart region of northwestern British Columbia since 1982; it is currently
the largest landholder in the district.
For further information on American Creek please contact Darren Blaney at:
403 752-4040 or email: .
Information relating to the
Corporation is available on its website at www.americancreek.com
.
For further information on Teuton, please contact Gary Assaly at:
800-879-2333 or email: .
Information relating to
Teuton is available at its website: www.teuton.com.
Certain information contained in this news release constitutes
forward-looking statements regarding the Corporations mineral properties.
Forward looking statements are frequently characterized by words such as
"plan", "expect", "project", "intend", "believe", "anticipate" or statements
that certain events or conditions "may" or "will" occur.
Forward-looking
statements are based on the reasonable opinions and estimates of management
of American Creek and are subject to a variety of risks, uncertainties and
other factors that could cause actual events or results to differ materially
from those projected in the forward-looking statements.
These factors
include: the inherent risks involved in the exploration and development of
mineral properties, uncertainties involved in the interpretation of drill
results and other geological data, fluctuating commodity prices, unforeseen
permitting requirements, changes in environmental laws or regulations, the
possibility of project cost overruns or unanticipated costs and expenses,
weather conditions, the availability of contractors for equipment and
services, the availability of future financing and general business and
economic conditions.
Such statements are also based on a number of
assumptions which may prove to be incorrect, including assumptions about
general business and economic conditions being accurate, the timing and
receipt of regulatory approvals for projects and operations, the
availability of financing, the ability to secure equipment and labour, and
American Creeks ongoing relationship with third parties.
The foregoing
factors, risks and assumptions are not exhaustive.
Events or circumstances
could cause actual events or results to differ materially from those
estimated or projected and expressed in, or implied by, these
forward-looking statements.
Accordingly, readers should not place undue
reliance on forward-looking statements.
These forward-looking statements
are as of the date they are made and American Creek disclaims any obligation
to update any forward-looking statements, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.