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TTAU - Tectonic Gold News Story

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Last Trade - 01/03/21

Sector
Basic Materials
Size
Micro Cap
Market Cap £8.89m
Enterprise Value £9.07m
Revenue £219k
Position in Universe 1603rd / 1807

Tectonic Gold Plc: Drilling update from Specimen Hill Project

Fri 23rd October, 2020 7:00am
23 October 2020

TECTONIC GOLD PLC

(“Tectonic Gold” or the “Company”)

 Drilling update from Specimen Hill Project

Tectonic Gold plc (TDIM: TTAU), the Intrusive Related Gold System (“IRGS”)
exploration pioneer, is pleased to announce preliminary costean sampling
results from the site preparation for the drilling program at the Specimen
Hill Prospect in Queensland, Australia. 

Highlights:
* Drill rig access roads cut and drill pad preparation completed
* Costeans cut on drill pads to expose fresh rock at surface mineralisation
* Sampling has returned assays of +3.5g.t. Gold and +45g.y Silver
During the past few weeks our field team in Queensland were preparing access
tracks and drill pads for the drilling campaign. This involves earthworks,
utilising a bulldozer to clear tracks and establish level pads at each
location to situate the drilling rig. In clearing the pads the team utilised
the bulldozer to cut some shallow costeans into the identified mineralisation
at surface to expose fresh rock. Samples were taken from these mineralised
features and assayed to provide confirmation on targeting for the drilling.
The campaign is designed to test grade at depth below this identified and
tested surface mineralisation.

Assaying returned proven gold mineralisation in every sample and some
excellent results including:
* Sample 30426 : 3.23g.t Au and 45.5g.t Ag
* Sample 30427 : 3.88g.t Au and 39.5g.t Ag
Sample 30427 also returned over 2.5% Copper.

All of this is as expected and consistent with previous testing of the
Specimen Hill Intrusive Related Gold System.

About the Specimen Hill Prospect:

Specimen Hill has produced over 8,000ozs of gold from historic small-scale
surface mining with grades reported up to 40g/t Au.

Tectonic Gold reinterpreted historic data and identified the possibility of a
much larger system under cover. Through the use of advanced analytics and
pioneering a number of new technologies, Tectonic Gold mapped the structure
hosting the known gold bearing mineralisation and demonstrated a significant
epithermal gold prospect from surface to +500m with multiple potential
porphyry feeder zones at depth.

During the 2018/19 field campaign, Tectonic drilled 2,517m over a ten hole
program testing the extensions of the Specimen Hill system. This campaign
returned gold intersections in every hole with grades of up to +35g/t Au
intersected. The current campaign is following up on the success of this
program to increase drilling density to confirm grade continuity. This is a
precursor to establishing a JORC compliant resource.

About Tectonic Gold:

Tectonic Gold  is a specialist gold exploration company, focused on the
identification and delineation of large-scale, multimillion-ounce Intrusion
Related Gold System (“IRGS”) assets. Tectonic Gold holds a number of gold
discoveries in the Lachlan Fold Belt in Eastern Australia, a prolific gold
region that is home to Australia’s two largest gold production companies,
Newcrest Mining and Evolution Mining. Rio Tinto, one of the largest copper
companies in the world has recently taken a large tenement alongside
Tectonic’s Specimen Hill project.

Mr. Brett Boynton, Managing Director – Tectonic Gold Plc

“We are very pleased to be back in the field after delays due to bush fires
last year and COVID this year. These initial assay wins from our drilling
setup are a great way to start the campaign. Having Rio move in next door
since our last drilling campaign has also given us a lot of encouragement that
we are hunting for elephants in the right area. It is going to be an exciting
few weeks and hopefully all the painstaking hours of analysis and preparation
in follow up targeting will  deliver more of the success we enjoyed in the
last outing.”

Qualified Persons:

Mr Jonathan Robbeson – BSc (Hons1), MEconGeol, MMinEng, (CP Geo) is a full
time employee Signature Gold Limited and is a registered Chartered
Professional (Geology) with the Australian Institute of Mining and Metallurgy
(AusIMM – 304542). Mr Robbeson has sufficient experience that is relevant to
the style of mineralisation and type of deposit under consideration and the
activity being undertaken to qualify as a Competent Person as defined in the
Note for Mining Oil & Gas Companies, June 2009, of the London Stock Exchange
and the 2012 Edition of the ‘Australian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves’ (JORC Code). Mr Robbeson
consents to the inclusion in the release of the matters based on his
information in the form and context in which it appears.

The Directors of the Company accept responsibility for the contents of this
announcement.

For further information, please contact:

 Tectonic Gold plc Brett Boynton Sam Quinn www.tectonicgold.com. @tectonic_gold   +61 2 9241 7665 
                                                                                                  

Financial Adviser, Corporate Adviser and Broker

VSA Capital Limited
                                                                                                                       
+44 20 3005 5004

Andrew Raca – Corporate Finance

Andrew Monk – Corporate Broking

Pascal Wiese – Corporate Finance

Ends

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014. Upon the publication of this announcement via a Regulatory
Information Service, this inside information is now considered to be in the
public domain.



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