Teako Minerals Expands Aplite Creek Target at Pinnacle Copper and Gold Project, British Columbia to Eight Kilometres

Vancouver, British Columbia–(Newsfile Corp. – May 3, 2023) – TEAKO MINERALS CORP. (CSE: TMIN) (the “Company” or “Teako“), is pleased to provide results from the late season 2022 exploration program on the Company’s Pinnacle Copper and Gold Project (“Pinnacle Project”). Work included soil sampling, geological mapping, rock sampling and drone based magnetic surveying that expanded on the preliminary work completed in 2021 which focused on the gold-rich Aplite Creek copper target.

The Pinnacle Project is located in north central British Columbia, 97 km to the north of the town of Fort St. James and covers 15,487 hectares. (Figure 1). It is located 50 km to the west of Centerra Gold‘s Mt. Milligan Copper-Gold Mine and 20 km southeast of NorthWest Copper’s Kwanika Copper-Gold Deposit in a proven copper-gold porphyry district. Access to the property is by road including a new and expanding network of logging roads and trails throughout the main target area. This improved access is a significant development and is anticipated to contribute to cost effective drill support and increase bedrock exposure.

Highlights:

• The 2022 work program comprised UAV drone-based magnetic surveying, soil sampling, geological mapping and rock sampling.

• Extensive gold and copper soil anomalies outlined in 2021 located within the Aplite Creek target were extended in the fall of 2022, adding 4 km to the southeast of the 2021 soil grid area.

• 427 soil samples were collected and returned 42 samples yielding assay values greater than 20 ppb gold and 17 samples greater than 100 ppm copper in an area void of outcrop and with interpreted modest till cover.

• Rock grab samples collected from the Aplite Creek occurrence returned several anomalous sample results. A highlight was one grab sample that returned 1.4% Cu and 1.7 g/t Au.

• The Aplite Creek target area now covers an area of approximately 4 km by 8 km.

• Target is associated with propylitic and potassic alteration within and adjacent to high-level monzonite intrusions on the flanks of the Hogem batholith.

2022 Work Program and Results

Exploration work in 2022 was centered on and around the Aplite Creek Occurrence and comprised extensions of the 2021 soil grid to the east, expanded UAV drone based magnetic coverage westerly and east from the previous survey while mapping and rock sampling within the original grid area. It consisted of collecting of 427 soil samples of standard “B” horizon material analysed by conventional digestion and analytical techniques. A total of 14 grab rock samples were collected from bedrock exposures.

Results were highly elevated for copper and gold, consistent with the 2021 and historical compiled data. Gold values returned a high value of 1,830 ppb (10% of samples >20 ppb) and copper values with a high value of 605 ppm (4% of samples >100 ppm). A total of 14 rock samples were collected and returned low values, except for four samples collected from bedrock exposures at the Aplite Creek Occurrence where sample results were elevated for copper and gold (table 1). The area sampled comprises a large, elevated rise in topography that lacks outcrop and is interpreted to be a large till sheet at least several metres thick.

Table 1: Aplite Creek Occurrence Rock samples

Sample Num.	Cu (ppm)	Au (g/t Au)
ST235703	744	0.126
ST235704	14,000	1.745
ST235705	301	1.680
ST235706	11,450	0.381

 

Results are presented in Figures 2, 3 and 4. Current sampling combined with previous soil sampling, historical induced polarization surveys and the current magnetic survey identify a northwesterly trending area of elevated copper and gold soil geochemistry coincident with magnetic highs and high chargeability over an area of 8 km by 4 km. The geology is comprised of dykes and stocks of syenite and monzonite within andesite volcanics. Alteration is dominantly widespread propylitic with localised potassic alteration near and within intrusive rocks. This large area has seen only minor drilling in 1974 and 1990 but historically reported values were strongly elevated in copper and gold (unverified).

About the Pinnacle Project

The Pinnacle Project is located within the Quesnel Terrane which is characterized by Late Triassic to Early Jurassic volcanic and sedimentary rocks that have been intruded by various intrusive phases related to the Late Triassic to Early Jurassic Hogem Intrusive Suite. The property was first explored in the early 1970’s following the identification of anomalous stream sediment samples from reconnaissance prospecting within the central portion of the property at the Aplite Creek Zone where chalcopyrite and secondary malachite occur in a calcite-quartz breccia zone that can be traced for approximately 30 m, and which is approximately 7m in width. Initial geochemical surveys, limited diamond drilling, and geophysical surveys were completed and confirmed the presence of copper and gold mineralization at Aplite Creek. Highlights of the historical work at Aplite Creek include a diamond drillhole drilled by BP Resources in 1990 that reported 6m @ 6.4 gpt gold. Since 2014 the property has seen extensive exploration to the south of the Aplite Creek area including diamond and percussion drilling, induced polarization (“IP”) surveys and airborne magnetic/EM surveys that have identified several broad areas that exhibit widespread porphyry-style alteration in areas of extensive cover. At the Elbow Zone, five of the six diamond drill holes returned anomalous gold, highlighted by 94 metres grading 0.34 g/t gold in DD15ELB001. At the Sooner Zone, diamond drilling in 2015 encountered broad intervals of anomalous low-level copper associated with sericite-biotite alteration.

The Pinnacle Project is under option from Pacific Empire Minerals Corp. (“PEMC”). Teako may earn a 70% interest in the Pinnacle Project by completing $3,000,000 in exploration expenditures, paying PEMC an aggregate of $460,000 in cash payments ($75,000 paid) and issuing 3,800,000 common shares (500,000 issued) to PEMC by August 2026. Following the exercise of the Option, PEMC will retain a 30% free-carried interest in the Pinnacle Project until the date that Teako publishes a NI 43-101 compliant Pre-Feasibility Study (“PFS”) on the Pinnacle Project. Following completion of the PFS, PEMC and Teako will form a joint venture with Teako holding a 70% initial interest and PEMC holding a 30% initial interest.

QA/QC, Data Verification

Historical work at Aplite Ridge including older drill results were compiled from public domain reports submitted to the provincial government (Assessment Reports) and predates NI 43-101 standards. The Company is treating this data as historic in nature but considers it an effective guide to exploration potential. Subsequent work by PEMC and their previous partners was to 43-101 standards and full QAQC disclosure was provided in the Pacific Empire company disclosure record as found on their website and as posted in press releases on SEDAR. Drilling at Aplite Creek mentioned herein was completed by BP Resources Canada Ltd in 1990 and results were reported in BC Government assessment report #20943.

Sample analysis was completed by ALS Canada Ltd in North Vancouver. Soil samples were analysed utilizing ALS procedures coded as follows: PREP-41 Dry, Sieve (180 um) Soil followed by AuME-TL43 25g trace Au + multi element package. Rock samples were analysed for gold by Au-ICP21 Au 30g FA with an ICP-AES Finish and for multi element by ME-ICP61 33 element four acid and ICP-AES finish. Overlimits were by ME-OG62 Ore Grade Elements – Four Acid and copper by Cu-OG62 Ore Grade Cu – Four Acid.

Rock grab samples are selective samples by nature and as such are not necessarily representative of the mineralization.

Robert Cameron, P. Geo. is a qualified person within the context of National Instrument 43-101 and has read and takes responsibility for the technical aspects of this release.

About Teako Minerals Corp.:

Teako Minerals Corp. is a Canadian mineral exploration company with a focus on creating shareholder value through exploration, acquisition, and development of mineral projects while being committed to bringing in creative innovative approaches and methodologies on a corporate and explorative level.

ON BEHALF OF TEAKO MINERALS CORP.

Sven Gollan
Chief Executive Officer
T: +43 5522 500429
E: [email protected]

Forward-Looking Information:

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Teako. Forward-looking information is based on certain key expectations and assumptions made by the management of Teako. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include that (a) following the exercise of the Option, PEMC will retain a 30% free-carried interest in the Pinnacle Project until the date that Teako publishes a NI 43-101 compliant PFS on the Pinnacle Project, (b) following completion of the PFS, PEMC and Teako will form a joint venture, (c) Teako may earn a 70% interest in the Pinnacle Project, and (d) improved access is a major development and is anticipated to contribute to cost effective drill support and provide increased bedrock exposure. Although Teako believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Teako can give no assurance that they will prove to be correct.

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

Figure 1: Location Map

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Figure 2: Copper and Gold Soil Geochemistry

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Figure 3: Copper Geochemistry on Magnetics

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Figure 4: Rock sampling at Aplite Creek Occurrence: Copper in ppm

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