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14.01.2019 | 09:25
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PR Newswire·Mehr Nachrichten von PR Newswire

Tectonic Gold Plc - Additional Assay Results for Specimen Hill

PR Newswire

14 January 2019

TECTONIC GOLD PLC

("Tectonic Gold" or the "Company")

ADDITIONAL ASSAYS FROM Drilling at Specimen Hill Project

Tectonic Gold plc (TDIM: TTAU), the Intrusive Related Gold System ("IRGS") exploration pioneer, is pleased to announce further assays and analysis from the October 2018 diamond drilling campaign at the Company's flagship Specimen Hill project in Queensland, Australia.

Highlights:

  • 75% of assays returned, final assay results are expected before the end of January 2019

  • Gold grades up to 35.2g/t Au obtained at 90m depth, below previous drilling in SHDD11

  • Silver grades up to 37g/t Ag; Tellurium grades up to 15 g/t; and Copper grades up to 1.45%

Assaying by ALS in their Townsville laboratory has almost completed. With the gold price near record highs in Australian Dollar terms, there has been a significant increase in demand for assay work and this has resulted in some delays, however we expect the final results to be in by month end and assessed by the team shortly thereafter.

Following positive early results from the first batch of testing we are very pleased to see some exceptional gold grades in excess of an ounce per tonne in the epithermal zone below previously tested and confirmed mineralisation at the main lodes prospect.

Typical of high sulphidation epithermal deposits, we have also confirmed high grades of silver, tellurium and other signature IRGS elements.

As previously advised, detailed information will be released after the full set of results has been verified, collated and modelled. This is anticipated shortly after month end.

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.

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 ("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.

Mr. Brett Boynton, Managing Director - Tectonic Gold plc

"Following up the early positive results with high grades returned in gold, silver and tellurium is very encouraging. Australian gold prices were recently at over A$1,800, testing new highs, making it an ideal time to be active and reporting. This is a great start to 2019 for us and we are looking forward to receiving the balance of the assays."

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.


© 2019 PR Newswire