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TTAU - Tectonic Gold News Story

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Last Trade - 03/03/21

Sector
Basic Materials
Size
Micro Cap
Market Cap £9.07m
Enterprise Value £9.24m
Revenue £219k
Position in Universe 1602nd / 1807

Tectonic Gold Plc: Mount Cassidy and Specimen Hill Project Drilling Update

Mon 18th January, 2021 7:00am
18 January 2021 

TECTONIC GOLD PLC 

(“Tectonic Gold” or the “Company”) 

MOUNT CASSIDY AND SPECIMEN HILL PROJECT DRILLING UPDATE 

Tectonic Gold plc (TDIM: TTAU), the Intrusive Related Gold
System (“IRGS”) explorer, is pleased to
announce further exploration progress at the Mount
Cassidy project and samples from the December 2020 Specimen Hill campaign
now in analysis.  

Mount Cassidy Highlights: 
*
Mt Cassidy is a textbook IRGS which has been overlooked
by previous explorers 
*
Tectonic utilised advanced geochemistry and geophysics technology to identify
the system undercover 
*
Previous surface samples returned assays of +50g/t Au. 
*
Tectonic initiated a ten-hole drilling program on 12 January 2021  
*
3 holes have been completed with sulphides intersected in all holes 

Specimen Hill Update: 
*
+1,250 drill samples have been prepared and are in the lab for low cost
XRF pre screening  
*
Drilling will recommence at Southern Copper on the western end of the
strike after the Mt Cassidy program currently in progress has been
completed. 

Mr. Brett Boynton, Managing Director – Tectonic Gold Plc 

“The field team is now well into the Mt Cassidy campaign with the first
three holes of a 1,500m, ten-hole,  program completed. This is
Tectonic’s maiden drilling at Mt Cassidy and we are pleased to have
intersected sulphide mineralisation containing chalcopyrite in all three
holes. We know from previous geochemical testing that gold at Mt Cassidy is
genetically associated with pyrite so we are in the right part of the system
to intersect gold at grade and we have seen some excellent grades here, up to
+50g/t gold, in the past. We will have samples off to the labs shortly, but
this is an immediate technical success for our targeting once again. 

Mt Cassidy is a very interesting project as we are “on top” of the system.
By this we mean that erosion has not brought us into and exposed the
system, so the surface footprint of the gold was large, but quite light. As
a result, past explorers noted “sniffs” of gold at surface but couldn’t
string these disparate surface showings together. By utilising our IRGS
expertise, Tectonic recognised that we need to rethink the exploration
approach to chase a “blind” or undercover system. Utilising a range of
new technologies and an extensive field exploration effort over many years
we have constructed a big data approach. Taking a large number of data
points from a range of sampling techniques and comparing the resulting model
to similar IRGS deposits we have been able to put together a high conviction
target despite it being mostly “blind”. We now know that
several disparate surface expressions of gold are actually the fingers of a
single large system reaching up though the earth’s crust. Instead of waiting
another few million years for erosion to strip the cover and expose this
system more broadly, we have been able to use technology to cost
effectively look through this cover and delineate a high
conviction target. Developing new technologies is the key to a small group
like Tectonic being able to change the economics of exploration and
tackle these targets. This is a real game changer for us and
gives Tectonic a very strong second asset in the portfolio. 

Several shareholders have asked again about Southern Copper. This is the
discovery at the western end of the 4km long strike from Specimen Hill. See
the map we have shared on the Tectonic website at: 

http://www.tectonicgold.com/site/PDF/8effb993-6049-4f39-8a0c-146055ef6767/20210112SpecimenHill4kmStrike 

We will take the drilling team back to Specimen Hill after Mt Cassidy
and begin working this western end, from Southern Copper, moving east, to
confirm more of that strike at depth. We are specifically tackling this in
sections so that we have time to analyse results and sharpen our thinking as
we move through the system. Logging all the drilling from December
and capturing the lab results has given us a mountain of information to add
to our digital database. As a result we are now in a much better position
to tackle Southern Copper and then we will look to fill in the gap in the
middle. Ultimately we will have the entire corridor mapped at surface and
tested at depth so we can work up initial resource numbers for the
project.”  

About the Mount Cassidy Prospect: 

The?Mount Cassidy?prospect is located near Tectonic Gold’s flagship Specimen
Hill project and is close to the regional centre of Rockhampton,?Queensland
Australia.  

The prospect is located within the Mount Morgan Tectonic Domain and within the
same age rock sequence as the large and proximal Mount Morgan copper gold mine
(+8Moz). The area was last mined in the early 1900’s. 

Mount Cassidy mine workings are located on a regional scale north-south
trending brecciated and silicified reidel shear zone that flanks a large,
unexplored ovoid (~4km2) magmatic hydrothermal IRGS system. This tending shear
zone has been mapped over a strike length of more than 1km and hosts an
epithermal quartz-pyrite system that is closely associated with gold
mineralisation. Exploration campaigns by Tectonic over the area in the last
two years have resulted in grades up to 50g/t Au from surface rock chip
sampling from within two major gold bearing quartz vein systems. 

Geological mapping of the hydrothermal system at?Mount Cassidy?has confirmed
classic porphyry style potassic and phyllic alteration assemblages over a
large area that appears to have been enriched by gold bearing fluids from a
proximal intrusive body. 

The north-south trending shear zone is assumed to have provided the plumbing
required for the passage of gold bearing fluids into the 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 has identified a large Intrusive Related Gold System (IRGS)
manifesting as a +4km long mineralised corridor at 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 at and 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 understands that this is a gold-copper porphyry
co-incident with a high-temperature magnetite rich core (identified at
Specimen Hill and Southern Copper which are associated with high copper and
gold grades). 

Rock chip samples from surface skarn outcrops mapped so far over the area
of ~18 km2 have returned grades of consistently elevated Au, Ag and Cu. 

Tectonic completed a second drilling campaign at Specimen Hill in December
2020. All holes have intersected mineralization at depths to over 100m from
surface, validating the continuity of both geology and grade observed at
surface. Tectonic will recommence drilling at the Western end of the corridor
on the Southern Copper discovery once drilling at Mt Cassidy has been
completed. 

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.  More recently, EMR Capital has
purchased the Ravenswood project from Resolute Mining which sits along strike
from Tectonic Gold’s Mount Cassidy and Specimen Hill Projects.  

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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