Make Kitco Your Homepage

Initial resource estimate of 25 million gold ounces declared at Treaty Creek

Kitco News

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

(Kitco News) - Teuton Resources ("TUO"-TSX-V) announced today that it has received a report from its joint venture partner Tudor Gold containing the initial mineral resource estimate for the Goldstorm and Copper Belle zones at their flagship Treaty Creek property, located within the heart of the Golden Triangle of Northwestern British Columbia which is on-trend from Seabridge’s KSM project located five kilometres southwest of the Goldstorm Zone.

According to the company’s statement, in addition to the 17.33 million ounces of gold measured and indicated mineral resource and 7.22 million ounces of gold inferred mineral resource for a total of 24.55 million ounces, there are 93.41 million ounces of silver estimated as measured and indicated mineral resources with an additional 40.57 million ounces of inferred silver mineral resource. The measured and indicated mineral resource also estimates 1.096 billion pounds of copper with an additional 330 million pounds of copper as an inferred mineral resource.

Measured as gold equivalents (AuEq), the initial resources amounted to 19.4 million ounces of 0.74 gpt AuEq of measured and indicated mineral resources and 7.9 million ounces of 0.79 gpt AuEq of inferred mineral resources.

The company said that a total of 218 drill holes totaling 105,658.8 metres were used in the mineral resource estimate. The Goldstorm Zone remains open in all directions and at depth.

Teuton was the original staker of the Treaty Creek property 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).

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.