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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: Further Drilling Update

Tue 12th January, 2021 7:00am
12 January 2021

TECTONIC GOLD PLC
(“Tectonic Gold” or the “Company”)

 FURTHER GOLD MINERALISATION FROM SPECIMEN HILL

AND COMMENCEMENT OF MOUNT CASSIDY DRILLING

Tectonic Gold plc (TDIM: TTAU), the Intrusive Related Gold System (“IRGS”)
explorer, is pleased to announce further drilling success from the December
2020 program at Specimen Hill in Queensland, Australia, and commencement of
drilling at the nearby Mt Cassidy discovery, following a short break from
field work over the Christmas Holiday period. 

Specimen Hill Highlights:
* Assays from hole SHRC24 returned with 2m @ 3.69 g/t Au, from 79m.
* Maintains the 100% track record of Tectonic’s drill targeting
* Extends the drill tested zone at Specimen Hill to 800m of a 4km+ mineralised
corridor
* 500+ samples being pre-screened for assay
* A geological map is provided at this link *
http://www.tectonicgold.com/site/PDF/8effb993-6049-4f39-8a0c-146055ef6767/20210112SpecimenHill4kmStrike

* Drilling at Specimen Hill will recommence following the Mt Cassidy program
currently underway
Mount Cassidy Highlights:
* Previous testing returned assays of +30g/t gold
* Tectonic has completed extensive geochemical and deep penetrating
geophysical mapping
* Textbook IRGS system identified which had been overlooked by previous
explorers
* Drilling began on 9 January 2021
* An initial 1,500m is budgeted to test targets down to ~200m
Following a 1,500 metre drilling campaign at Mount Cassidy, drilling will
return to Specimen Hill to test the Southern Copper target which returned 16%
copper and 9g/t gold from surface sampling.

Mr. Brett Boynton, Managing Director – Tectonic Gold Plc

“It is extremely encouraging to open the New Year with another gold hit
following the success of the campaign in December. Hole SHRC24 takes us out to
about 800m of the 4km long strike being successfully tested at depth. We sent
material from these first few holes for rapid assay turnaround prior to
Christmas so that we can use them as a baseline to filter the remaining
samples. We now have over 500 samples being prepped that will be scanned with
XRF scanners calibrated to the known assays from December. XRF scanning
provides a quick and cost-effective way to identify the best samples
containing gold/silver/copper mineralisation to send for assay going forward
ensuring efficiencies on time and budget.

This project is already showing the characteristics of a very large system and
to provide some content, we have posted a map to the website at:
*
http://www.tectonicgold.com/site/PDF/8effb993-6049-4f39-8a0c-146055ef6767/20210112SpecimenHill4kmStrike
From the Main Lodes in the North East to Southern Copper in the South West,
Tectonic has mapped a 4km+ strike with detailed geochemistry and deep
penetrating geophysical reconnaissance. It is important to note that the
system remains open at both ends and at depth; and in due course we intend to
map it further. For comparison, the “Super Pit” at Kalgoorlie, one of
Australia’s most prolific mines, is 2.6km in length.

Tectonic is the first company to have taken a regional scale approach to
looking at the known gold occurrences at Specimen Hill. The patient years of
fieldwork and analytics, digitising this data and utilising our proprietary
IRGS exploration approach to stitch together a largely “blind” or under
cover system, are now paying off. The drilling completed prior to the December
break has proven up 800m of this 4km long strike with intersections targeted
at about 100m depth consistently showing medium to high grade over a few
metres within a wider 5m to 10m+ lower grade halo. We look forward to
returning to Specimen Hill at Southern Copper as soon as we have completed the
initial 1,500m at Mt Cassidy.

The team is very excited to be drilling Mt Cassidy. It is a fantastic
discovery, made possible through our in-house developed Intrusive Related Gold
System exploration IP. This has been well supported over many years by the
Australian Federal Government and we are pleased to be delivering on our
promise to them to make the new generation of Australian gold discoveries and
help drive the gold industry forward.

As soon as we have completed the initial drilling at Mt. Cassidy, we will
relocate back to Specimen Hill and drill Southern Copper at the South Western
end of the strike. This is a new discovery following the 2019 bush fires in
the region clearing the ground for the first time in a generation and allowing
our geologists to survey the area. We were hopeful of a discovery, as our
airborne “SAM Survey” geophysics had shown the Specimen Hill system
extended through this area and we were rewarded with assays above expectations
of 16% copper and 9g/t gold from surface sampling.

For the team this is going to be a busy quarter and for investors we expect to
have plenty of news flow from both Specimen Hill and Mount Cassidy.”

Results (including SHRC24)

 Hole ID    Easting  MGA94 z56      Northing  MGA94 z56     RL  (AHD)     AZI  (MAG)    Dip  Total Depth (m)  
  SHRC17          270,816                7,321,726             547            055       -66        104        
                                                                                             * 7m @    
                                                                                             3.01g/t   
                                                                                             Au; 2.33  
                                                                                             g/t Ag and 
                                                                                             0.14% Cu  
                                                                                             from 96m  
                                                                                             * Incl. 1m 
                                                                                             @ 16.30g/t 
                                                                                             Au; 8.31  
                                                                                             g/t Ag and 
                                                                                             0.34% Cu  
                                                                                             from 98m, 
                                                                                             and       
                                                                                             * 3m @    
                                                                                             6.95 g/t  
                                                                                             Au; 5.09  
                                                                                             g/t Ag and 
                                                                                             0.32% Cu  
                                                                                             from 98m. 
  SHRC20          270,999                7,321,843             552            214       -70        150        
                                                                                             * 9m @    
                                                                                             0.84 g/t  
                                                                                             Au;       
                                                                                             0.62g/t Ag 
                                                                                             and 0.19% 
                                                                                             Cu from   
                                                                                             18m       
                                                                                             * Incl. 1m 
                                                                                             @ 2.37g/t 
                                                                                             Au from   
                                                                                             18m, and  
                                                                                             * 1m @    
                                                                                             0.85 g/t  
                                                                                             Au; 2.58  
                                                                                             g/t Ag and 
                                                                                             1.56% Cu  
                                                                                             from 23m. 
  SHRC22          271,950                7,321,675             582            144       -70        200        
                                                                                             * 1m @    
                                                                                             1.23g/t   
                                                                                             Au; 15.85 
                                                                                             g/t Ag and 
                                                                                             1.77% Cu  
                                                                                             from 136m 
  SHRC24    270,563          7,321,441               560              105           -65            104        
                                                                                             * 2m @    
                                                                                             3.69 g/t  
                                                                                             Au, from  
                                                                                             79m.      
                                                                                                              

Samples from the remaining 6 holes have been logged with very similar
characteristics being observed. We expect assays from these holes to return
similar results with gold, silver and copper mineralisation.

The mineralisation is held in a textbook hydrothermal breccia zone which is
tightly controlled within the Andrews Gulley and Specimen Hill shear zones.
The strike of the system that has been mapped and sampled at surface,
extending over 4kms. This is identified to be open in both directions and
further exploration will likely increase this length of the mineralised
corridor. Further drill testing of this mineralised corridor provides evidence
of Tectonic’s initial assessment that the Specimen Hill prospect is a
large-scale polymetallic system with multi-million-ounce potential.

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 has identified a large Intrusive Related Gold System (IRGS)
manifesting as a ~4km long mineralised corridor at the Specimen Hill and has
identified the possibility of a much larger system under cover.

Gold, copper and silver mineralisation within the known ~4km corridor
manifests itself near surface as a polymetallic, high-sulphidation (HS) system
that has been enriched by late-stage intermediate-low sulphidation (IS-LS)
gold mineralisation. At depth, Tectonic is seeing that this is a gold-copper
porphyry co-incident with a high-temperature magnetite rich core (identified
at Specimen Hill and Southern Copper Targets which are associated with high
copper and gold grades).

Rock chip samples from surface skarn outcrops mapped so far over the area of
~18 km(2) have returned grades of consistently elevated Au, Ag and Cu.

Tectonic has recently completed a second drilling campaign at Specimen Hill.
All holes have intersected mineralization at depths to over 100m from surface,
validating the continuity of both geology and grade observed at surface.

About the Mount Cassidy Prospect:

The Mount Cassidy prospect is located near Tectonic Gold’s flagship
Specimen Hill project, approximately 50km NW of the regional centre of
Rockhampton, Queensland Australia.

A large ovoid 4km(2) magmatic hydrothermal IRGS system, confirmed from
mineral chemistry and geophysical research, has been further assessed through
a collaborative research project between CODES and Tectonic Gold.

Gold bearing veins emanating within this porphyry system have been
historically mined with grades of 15g/t Au recorded from selective mining.

Geological mapping of the hydrothermal system at Mount Cassidy has confirmed
classic porphyry style potassic and phyllic alteration over a large area that
has been overprinted by gold bearing fluids emanating from a regional
reidel-style shear system that cross-cuts the prospect.

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 Systems (“IRGS”). Tectonic Gold holds a number of gold
discoveries in the New England Orogen 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.

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.

Table 1 information for this release can be found on the Company website.

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 
                                                                                                  

VSA Capital Limited
Financial Adviser, AQSE Corporate Adviser and Broker
                                                   
+44 20 3005 5000
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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