Business
Harry Property Optioned to Jayden Resources in $2 Million Deal
(via TheNewswire) Vancouver, Canada - TheNewswire - September 4, 2020 - Teuton Re...
About this update from Teuton Resources Corp.
[{"type":"text","content":"Harry Property Optioned to Jayden Resources in $2 Million Deal(via TheNewswire)\n\n \nVancouver, Canada - TheNewswire - September 4, 2020 - Teuton Resources Corp. (\"Teuton\" or \"the Company\") (TSXV:TUO) (Frankfurt:TFE) (OTC:TEUTF) is pleased to announce it has optioned its wholly-owned Harry property to Jayden Resources. The property is situated within the Golden Triangle of northwestern British Columbia, 30 kilometres north of Stewart. \n\n\n \nThe Harry property also includes the old Outland Silver Bar property which was explored by fifteen adits looking for extensions of high-grade silver veins. The property lies in a prospective corridor running north-northwest from the Premier, Silver Coin, Big Missouri and Dilworth gold deposits presently being developed by Ascot Resources. Lying to the west and north of the Harry property are the extensive holdings of Scottie Resources which include the formerly producing Scottie Gold mine. Pretium Resources Bluffy zone is situated about 2km northeast of the Harry property. \n\n\n \nJayden has the right to earn up to a 55% interest in the Harry property under the following terms:\n\n\n \n\n\n- Payment of $180,000 over 4 years with an initial payment of $25,000.\n\n\n\n- Expenditures of $2,000,000 over 5 years.\n\n\n\n\n \nJayden has the right to earn an additional 20% by placing the property into production. Teuton retains a 2% Net Smelter Royalty. The agreement is subject to TSX Venture approval.\n\n\n \nHighlights of the property include:\n\n\n \n\n\n- A cherty, siliceous altered andesite, associated with many of the gold deposits on the adjoining property of Ascot Resources property, extends north-northwest into the Harry property. \n\n\n\n- A talus fine sampling program conducted along the eastern edge of the Salmon Glacier located numerous gold anomalous samples on the Harry property below the old Granduc mining road. \n\n\n\n- A brief drilling program carried out by Teuton intersected 0.72 g/t gold over 9.15 metres in a hole which was stopped after hitting old underground workings. \n\n\n\n- VMS-style mineralization has been noted both on the eastern side of the Salmon Glacier as well as the western side (Outland Silver Bar).\n\n\n\n\n \nThe Qualified Person for Teuton Resources, Dino Cremonese, P. Eng. (who as President is not independent of the Company), is responsible for the ...