Tectonic Gold Plc - Drilling update from Specimen Hill Project
PR Newswire
London, November 18
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.
