Location and Summary
The High property is located just south of Seabridge Gold’s KSM property and Pretium Resources’ Snowfield-Brucejack property (see map). World-class gold and gold-copper deposits are presently being developed on these two neighbouring properties. On the KSM property, the Iron Cap, Mitchell, Sulphurets, Kerr and Deep Kerr are all large porphyry copper-gold deposits. The Deep Kerr, drilled off in the past two years and still with ample room to grow, presently has an inferred resource of 515 million tonnes grading 0.36 g/t gold and 0.53% copper. The Mitchell is a giant deposit with proven reserves of 473 million tons grading 0.67 g/t gold and 0.17% copper, and probable reserves of 935 million tons grading 0.57 g/t gold and 0.16% copper. Just a few kilometers north of the common border between the High and Pretium’s property is the Valley of the Kings gold deposit, one of the largest high-grade deposits in the world. It is still being drilled off and presently has a measured and indicated resource of 15.3 million tons grading 17.6 g/t gold.
The geological units underlying these deposits on the neighbouring properties pass southward into the High property. A key structure, the Sulphurets fault, thought to be related to all of the deposits on the Seabridge Gold ground, extends southwards into the High ground for 8km. Similarly, the Brucejack fault, alongside which lie all of the southern deposits of Pretium Gold, extends into the High property.
Teuton has done minimal work to date on its very extensive High property. A one-hole drilling program undertaken in 2012 on the newly discovered King Tut zone located just south of the Pretium-Teuton border resulted in an intersection running 222m of 0.88 g/t gold. This intersection compares well with the average intersections obtained in the first ten holes drilled by Pretium into their Bridge deposit, located less than 2km to the north.
Surface sampling of a stockwork zone discovered in the vicinity of the King Tut in 2013 returned promising gold values as reported below:
Numerous gossanous zones lying just to the southwest of the King Tut (on Teuton ground) remain to be properly investigated.
Plans for 2014 call for extensive reconnaissance surveys, contingent upon obtaining permit approval and financing, to be followed by drilling of favourable targets. All zones of gossanous rock located on both sides of the southward extension of the Sulphurets Fault are to be investigated. A cluster of these occurrences lies along the highly altered Orion nunatak completely controlled by Teuton claims. Past work has identified high-grade gold values in one part of this nunatak (Cat-in-the-Hat showing). To the east, in the area of the High South target, further work is planned on an area where chalcopyrite mineralization was found in 2011. Prospecting in this area uncovered gold values ranging from 0.74 to 47.8 g/t gold. The area was not drilled due to an overhanging glacier which may now have receded enough to carry on additional work.