The Tennyson property has excellent potential to host porphyry gold-copper mineralization of the type now being explored by Seabridge Gold and Pretium on their Sulphurets area properties 15km to the north. Vein-type gold-silver mineralization also exists on the property.
In 2011, Teuton drilled 16 holes into the northern porphyry zone, most of which returned appreciable values in copper and gold over lengthy intercepts. Subsequent to this success, the property was optioned to Brigade Resources, a private Hunter Dickinson company. Under the terms of the option Brigade can earn an initial 50% interest by incurring C$6 million in exploration expenditures and making $300,000 in staged payments over a three year period. Upon Brigade fulfilling its first interest, it may acquire Teuton’s remaining 50% interest by issuing such number of shares to Teuton that reflects a 50% project interest based on Brigades market capitalisation and attributable project value.
Robert Dickinson, chairman of Hunter Dickinson Inc., said: “We are excited having acquired a promising project located in a highly prospective mineralized belt and more specifically along strike to the south of Seabridge Gold’s KSM properties (measured and indicated resources of 49 million ounces gold, 12.7 billion pounds copper) and Pretium Resources’ Brucejack (measured and indicated resources of 5 million ounces gold, 31 million ounces silver) and Snowfield (measured and indicated resources of 26 million ounces gold, 76 million ounces silver and 3 billion pounds copper) properties"
At a cost of approximately $1,000,000, Brigade recently completed its first year program consisting of geological mapping, geochemical sampling, magnetometer and IP surveys, and re-logging of all historical holes on the property. Brigade also purchased the adjoining Tide property, which separates the Tennyson from the Granduc mining road, for $3 million.
In a progress report dated November, 2012, Brigade geologists stated: “The lithological, alteration, veining and metal endowment characteristics recorded in outcrop and drill core, in consideration of surface geochemical and geophysical data collected within the same area, are all consistent with the presence of a large copper-gold porphyry-style deposit within the Tennyson property. As such further systematic exploration is warranted.
Figures from November, 2012 Brigade Progress Report on Tennyson Property:
Retreating ice on Teuton's Tennyson property
Location and Access
The Tennyson property is located 6 km due west of the former Granduc Mines millsite, approximately 50 km by road from Stewart, British Columbia.
2011 Drill Results