2004 Exploration Planned for Konkin Silver Property; Additional Claims
Acquired
Teuton Resources Corp. (“Teuton”) and Minvita
Enterprises Ltd. (“Minvita”) will
mount a work program during the 2004 field
season on their jointly owned Konkin
Silver property, located 29 kilometres
east of Stewart, British Columbia.
Several promising silver occurrences were discovered
on the property between between 1994-98, but
low silver prices precluded further exploration.
Now that silver prices have almost doubled from
lows in the $4 US/oz range, the property is being
re-examined.
The main Konkin Silver showing is a bow-shaped
structure which returned a weighted average value
of 34.9 oz/ton silver, 2.3% lead and 2.0% zinc
across 9.0 metres at the widest part sampled.
Ruby and native silver were noted in hand specimens.
This zone occurs in a VMS environment and has
structural and mineralogical affinities with
the formerly producing Torbrit silver mine some
20 km to the south. During the 1950’s the
Torbrit was Canada’s third largest silver
mine.
Teuton and Minvita recently purchased a 100%
interest in two claims situated within the boundaries
of the Konkin Silver property. Purchase price
was 50,000 shares of Teuton and 50,000 shares
of Minvita, plus $10,000 from both companies.
The vendor retains a 2% NSR, one-half of which
can be purchased for $1,000,000. The transaction
is arms-length.
The newly acquired claims cover two documented
silver showings, one of which was sampled across
a 9 metre width, returning 19.0 oz/t silver,
2.4% lead and 3.0% zinc.
The Leszek zone on the Konkin Silver property
is a quartz-tetrahedrite stockwork in argillites
with sample results of up to 0.202 oz/ton gold
and 16.4 oz/ton silver over a 4 metre width.
This zone is very similar in setting and mineralogy
to the Kosciuszko
zone on the Del Norte property, 6 kilometers
to the north (the Del Norte is wholly owned by
Teuton and currently under option to Lateegra
Resources Corp., under terms whereby Lateegra
can earn a 50% interest by spending $3,000,000
over four years). Three holes drilled into the
Kosciuszko zone in 2002 all returned wide intercepts
of gold-silver mineralization. The final hole
assayed 0.223 oz/ton gold and 8.1 oz/ton silver
over a true width of 8 metres.
Teuton and Minvita plan property wide prospecting,
sampling, trenching and geological mapping in
2004, to be followed by diamond drilling of selected
targets.
ON BEHALF OF THE BOARD
“D. Cremonese”
Dino Cremonese, P.Eng.
President Teuton Resources Corp
Minvita Enterprises Ltd.
The
TSX Venture Exchange has not reviewed and
does not accept responsibility
for the adequacy or accuracy of the content of this news release.
Minvita
Enterprises Ltd. Address: #207-675 W. Hastings St. Vancouver,
BC Canada V6B 1N2