Tectonic Gold Plc - Remobilisation drilling update
PR Newswire
London, November 15
16 November 2022
TECTONIC GOLD PLC
("Tectonic Gold" or the "Company")
Remobilisation drilling update
Tectonic Gold plc (TDIM: TTAU), the Intrusive Related Gold System ("IRGS") explorer, is pleased to report the recommencement of drilling at the Company's flagship Specimen Hill project in Queensland, Australia, on the high grade Goldsmiths Reef mine.
Highlights:
- 350m deep diamond core at Goldsmith's Reef to be completed, targeting bullseye geophysical target below high-grade historic mine.
- Assays returned grades of 8.17g/t Au over 1m in distal veins in the last ten meters before the hole was suspended due to bad weather
- The primary target zone is at 200m+
- Expect to complete drilling in two weeks with assays reported shortly thereafter
- Will provide further updates at the VSA Capital - Aquis Investor Showcase on 29th November.
Mr. Brett Boynton, Managing Director - Tectonic Gold Plc
"Field reconnaissance during September confirmed the ground conditions were suitable to remobilise, however a general shortage of rigs delayed our restart until earlier this week. We began drilling yesterday and with a week of good weather forecast we expect to complete this final hole left over from the 2021 campaign and have samples off to the lab for assay in the next two weeks.
This is an exciting hole for the Company as we are chasing the extension of a known high-grade system that has been mined close to surface. The intersection of narrow, high-grade, veins just before we were forced to suspend the campaign is very encouraging. These veins are presenting at about 110m, well before the target zone and we hope to see convergence of these distal veins as we close in on the target zone.
This is a relatively quick campaign and we expect to have assays back within weeks of the completion.
These results will fill out our data package for discussions with potential joint venture partners and the recent corporate activity on the gold sector is encouraging.
We will have in-field geological analysis completed in time for the VSA Capital - Aquis Investor Showcase on the 29th of November and look forward to sharing the news then. Please join us via the link below."
https://www.eventbrite.co.uk/e/the-vsa-capital-aquis-showcase-event-tickets-430890363677
This link to our website will take you to our gallery and a picture of our diamond rig arriving on site at the Specimen Hill project to complete the campaign suspended due to storms and flooding in Queensland in January 2022
https://www.tectonicgold.com/gallery-3?pgid=ks8lm863-7329420f-196e-4bea-8c22-eb68c243645a
This link is to a picture of the rig in action coring a hole below Goldsmith's Reef targeting a geophysical bullseye anomaly at circa 250m depth.
https://www.tectonicgold.com/gallery-3?pgid=ks8lm863-6b0a0f3e-fffc-4e35-b9a7-85d4f11f94bc
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.
