Tectonic Gold Plc - Drilling Update Initial Assays
PR Newswire
London, November 18
19 November 2021
TECTONIC GOLD PLC
("Tectonic Gold" or the "Company")
DRILLING UPDATE INITIAL ASSAYS
Tectonic Gold plc (TDIM: TTAU), the Intrusive Related Gold System ("IRGS") explorer, is pleased to announce completion of the Specimen Hill drilling campaign and initial results from Goldsmith's Reef.
Goldsmith's Reef was last mined in around 1920 and returned high grades. It is approximately 700m along strike, west of Main Lodes. Drilling was planned to demonstrate continuity of mineralisation from Main Lodes to Goldsmith's Reef, proving the scale potential of the Specimen Hill system and also to test grade below the historic workings. Shallow underground mining at Goldsmiths worked three parallel veins running 3m to 6m in width within a 30m wide mineralised corridor, making this an attractive open pit opportunity.
Highlights:
- Drilling intersected vein sets at 44m and 127m depth returning grades of 3m at 2.14g/t gold and 3m at 4.4g/t gold respectively, including 1m at 5.76g/t gold
- The final hole planned to test an apparent feeder zone at 250m was suspended at circa 120m when we had to demobilise due to weather, but the hole has been cased and capped and will be completed as soon as we remobilise
- Sample chip trays have been couriered to Sydney for head office team to conduct further analysis with independent experts
- In discussion with multiple copper and gold mining companies on potential partnership at Specimen Hill
- More assays to follow over the next few weeks
Mr. Brett Boynton, Managing Director - Tectonic Gold Plc
"This is a very important result as we present Specimen Hill for partnership discussions. Previous drilling from 2018 onwards has proven mineralisation in disparate zones within the system, but this round now begins to stitch it all together in a much, much larger potential resource.
Border restrictions prevented the Sydney team from joining the field program this time, so we have had the sample trays couriered down to head office and will begin to analyse these next week. We are particularly interested in the native copper reported in the field logs at Southern Copper. We are seeing a textbook metal zonation with gold dominant in the east around Main Lodes and to Goldsmith's Reef, then copper emerging and dominating as we move west. The system as a whole is presenting somewhat like a herring bone with smaller cross cutting faults along the major fault line and at these intersections sites like Goldsmith's, with better geological plumbing delivering greater mineralisation.
Every time we get into the field at Specimen Hill we extend the system and there is certainly plenty more to do, but we have generated a lot of information with this campaign and hope to progress quickly to a partnership so we can accelerate the program rapidly in the new year."
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 RNS is located on the Tectonic Gold plc 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 |
Financial Adviser, Corporate Adviser and Broker
VSA Capital Limited +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.
