TEUTON'S TREATY CREEK PROPERTY IS 800 METRES NORTHEAST OF SEABRIDGE GOLD'S NEW IRON CAP GOLD-COPPER DEPOSIT
(Thomson Reuters ONE) -
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
December 14, 2010, Vancouver, BC: Teuton Resources Corp. ("Teuton") ("TUO"-
TSX-V) ("TFE"-Frankfurt) is pleased to announce that its Treaty Creek property
lies just 800m northeast and along trend of the new Iron Cap gold-copper deposit
of Seabridge Gold, located in the Sulphurets region of northwestern British
Columbia (see map, attached). Significantly, this deposit remains open down-
dip, to the southwest and to the northeast.
Prior to this year's drilling of the Iron Cap zone, Seabridge Gold had defined
estimated proven and probable reserves of 30.2 million ounces of gold (1.60
billion tonnes at 0.59 grams of gold per tonne) at its KSM (Kerr-Sulphurets-
Mitchell) deposits. This is currently the largest gold reserve in Canada. The
total is expected to increase considerably when results of the 46 holes drilled
into Iron Cap are calculated as part of a NI-43-101 compliant resource estimate
due for release in January of 2011. Seabridge reported that all 46 holes
intersected ore grade mineralization over significant widths.
The Iron Cap zone is now estimated to be at least 900 meteres in strike length,
400 metres wide and up to 350 metres thick. Analysis of drill data indicates
that the Iron Cap resource is also likely to have a higher metal value than the
average KSM grade. For example, Hole 40, which is mineralized from top to
bottom, contains a 128.5 metre interval grading 1.04 grams per tonne gold and
0.37% copper.
Seabridge Gold also reported (News Release dated Dec. 9, 2010) that "there is
potential for an undiscovered, deeper core zone characterized by potassium
feldspar, magnetite and bornite which could be expected to contain significantly
higher metal values than the shallower levels tested so far at Iron Cap. This
year's drill results suggest that this potential core zone may exist below the
current limits of the Iron Cap deposit. Seabridge intends to pursue this target
in next year's program."
The discovery of such a promising deposit northeast of the giant Mitchell
deposit underscores Teuton's belief that the favourable host rocks for this type
of gold-copper mineralization, characterized by the Kerr-Sulphurets-Mitchell-
Iron Cap deposits, extend northeast into Teuton's Treaty Creek property.
Government mapping of regional thrust faults, alteration, and favourable
geology show that these all extend from Seabridge's ground into the Treaty Creek
property. Further supporting this thesis is Hole CB-14, drilled on Teuton's
Copper Belle zone in 2009 (some 5.5 km northeast of the Iron Cap deposit). It
returned a promising 241 metres of 0.80 g/t gold and bottomed in mineralization.
The Treaty Creek property covers approximately nine kilometres of the
northeastern extension of this prospective geology and is host to numerous zones
of mineralization. It was under option to American Creek Resources under terms
whereby American Creek could earn up to a 51% interest by spending $5 million
over three years, with a further option to earn an additional 9% by carrying the
property to feasibility.
Teuton announced recently that it was suing American Creek Resources for various
breaches of contract of the option agreement. Among other remedies it is
seeking a declaration from the Court that American Creek has forfeited all right
and interest in and to the Treaty Creek property. Should Teuton be successful
in its arguments it will have a 100% interest in Treaty Creek; if unsuccessful,
either a 49% interest, or if American Creek prepares a feasibility study on the
property, a 40% interest.
The Qualified Person for the purposes of this news release is D. Cremonese,
P.Eng. Mr. Cremonese has not independently verified the Seabridge Gold data.
Dino Cremonese, P.Eng."
President
Teuton Resources Corp.
If you would like to be added to Teuton's news distribution list, please send
your email address to gary.teuton(at)shawlink.ca.
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.
This announcement is distributed by Thomson Reuters on behalf of
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Teuton Resources Corp. via Thomson Reuters ONE
[HUG#1471962]
Datum: 14.12.2010 - 14:30 Uhr
Sprache: Deutsch
News-ID 49688
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