Tectonic Gold Plc - Initial Assays From Drilling at Specimen Hill Project
PR Newswire
London, December 20
20 December 2018
TECTONIC GOLD PLC
("Tectonic Gold" or the "Company")
INITIAL ASSAYS FROM DRILLING AT SPECIMEN HILL PROJECT
Tectonic Gold plc (TDIM: TTAU), the Intrusive Related Gold System ("IRGS") exploration pioneer, is pleased to announce initial assays and analysis from the recently completed diamond drilling campaign at the company's flagship Specimen Hill project in Queensland, Australia.
Highlights:
25% of assays returned, full assay results are expected in January 2019
Porphyry style mineralisation confirmed from SHDD15 from 230m
Grades up to 6.06g/t Au obtained beneath historic drilling
Final batch of core samples submitted for analysis this week
Assaying by ALS in their Townsville laboratories is well under way after some delays due to Cyclone Owen and production bottlenecks. About 25% of the samples have been completed with encouraging early results, however we note that a detailed analysis is not possible until we have received the full set of assay results.
The drilling program was designed to test two potential porphyry feeder targets and to validate and extend the existing "Main Lodes" known epithermal mineralisation to deeper levels.
We can confirm porphyry style mineralisation has been intersected in SHDD15 from 230m in the first of the deeper targets. Results from the second target are pending. These results will be cross validated by our external porphyry expert in January 2019.
Drilling below the high-grade historic intersections at the Main Lodes zone confirmed depth extensions with grades assaying up to 5.14g/t Au at 118.6m depth in hole SHDD11 and up to 6.06g/t Au at a depth of 96m in hole SHDD08.
These results validate the targeting methodology developed by the company for both the prospective feeder porphyry zones and the structurally hosted epithermal zone.
Detailed information will be released after all the results have been verified, collated and modelled. This is not anticipated to be completed until January 2019.
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 extensions to the system under cover. Utilising digitisation and big data analytics, new geophysics technologies and advanced testing such as Laser Ablation Inductively Coupled Mass Spectrometry (LA-ICP-MS) Tectonic Gold unlocked this system. The company significantly extended the structure hosting the known gold bearing mineralisation and demonstrated a vertically extensive epithermal gold prospect from surface to +500m with multiple potential porphyry feeder zones at depth.
Signature intrusive gold system style alteration and sulphide zones have been intersected in the current drilling campaign.
Historic drilling of 63 shallow holes delivered grades up to 15g/t within a ~300m strike. The current drilling campaign visually confirms the strike extension mapped by our recent geophysical surveying to over 1,500m and at 330m+.
A buried intrusive interpreted to be a mineralising source for the epithermal deposit has been intersected in deeper drilling, confirming the targeting by DIAS 3D IP surveying technology the company brought to Australia from Canada in April 2018 (further assays pending).
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 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.
Mr. Brett Boynton, Managing Director - Tectonic Gold plc
"We have ben frustrated by delays but are pleased with the early results and optimistic that we will have continued grade coming through in the future assays. At this stage, with just a quarter of the assays back, it is premature to put out any detailed information, but we did want to share prior to the break for the holidays the confirmation of our thesis on the underlying porphyry feeder system and extension of the known mineralisation at Specimen Hill."
We have shared a selection of core photos on the website at www.tectonicgold.com and on Twitter @tectonic_gold.
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 |
| NEX Exchange Corporate Adviser and Broker Peterhouse Capital Limited Mark Anwyl | +44 20 7469 0930 |
| Financial Adviser and Broker VSA Capital Limited Andrew Raca | +44 20 3005 5004 |
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.
