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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

Thu 19th November, 2020 7:00am
19 November 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 completion of the first hole in
the drilling program at the Specimen Hill Prospect in Queensland, Australia. 

Highlights:
* First hole (SHRC17) completed for 103 meters
* Visual gold bearing mineralisation intersected from surface (assays pending)
* Gold bearing porphyry mineralisation also intersected within the intrusives
at depth as targeted
* Second hole underway with rig stepped back and pivoted 180deg to test true
width of mineralisation at depth
After some rain delays at the start of the month, the Tectonic Gold field team
was able to mobilise equipment on site last week. After proper induction and
safety procedures they were able to set up the drilling rig on the first pad
over the weekend. The first hole in the campaign was completed on 17 November.
SHRC17 was targeting a continuation of tested and proven surface
mineralisation at depth and has been an immediate technical success
intersecting gold bearing sulphides down to over 100m.

The drilling campaign at Specimen Hill is starting with follow-up testing of
the 3km long Andrews Gulley shear zone which returned high grades of gold,
copper, silver and tellurium in previous drilling. Andrews Gulley intersects
the Specimen Hill fault that has likewise returned high grades of gold and
copper. Drilling will continue from Andrews Gulley over into the Specimen Hill
fault in the second stage of the campaign. Mineralisation at specimen hill has
been mapped for an addition 1km+ of strike, confirming the significant scale
of the system.

A selection of the sample material has been sent to the laboratories for a
rapid turnaround broad chemical suite assay. This will provide copper and gold
grades as well as a host of information to assist with targeting the remainder
of the campaign.

Surface assaying last month returned proven high grade gold, copper and silver
mineralisation at Andrews Gulley:
* 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 historically 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 Gold 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
Gold’s Specimen Hill project.

Mr. Brett Boynton, Managing Director – Tectonic Gold Plc

“This is a great start to the campaign. Intersecting mineralisation as
expected on this first hole maintains our 100% success record in drill
targeting. This again validates all of the continuous efforts over the years
in research and development on Intrusive Related Gold System exploration. This
is going to be an exciting few weeks.”

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

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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