Tectonic Gold Plc Drilling Mobilisation
13 August 2021 - 4:00PM
UK Regulatory
TIDMTTAU
13 August 2021
TECTONIC GOLD PLC
("Tectonic Gold" or the "Company")
Drilling Mobilisation
Tectonic Gold plc (TDIM: TTAU) the Intrusive Related Gold System ("IRGS")
explorer, is pleased to announce that the technical team in Queensland
mobilised earlier this week to recommence drilling at the Specimen Hill
project.
COVID restrictions have been lifted enabling contractors to move equipment back
to Specimen Hill to extend the successful programme that was cut short earlier
in the year due to bad weather
Tectonic has conducted multiple drilling campaigns at Specimen Hill, with every
historic drill hole intersecting gold and proving up a mineralised system
extending over 4km in strike. Previous testing has delivered bonanza grade
copper, gold and silver assays with notable returns where the main Andrews
Gulley Fault is intersected by cross cutting faults.
Upcoming Drilling:
The current campaign will complete validation testing on three target areas
across the system. 1,250m of drilling will be targeting the following:
1. Southern Copper (2.5% Cu assayed from outcrop sampling). Depth extension of
the structure below high-grade outcropping ore zone.
2. Goldsmith's Reef (+5.4g/t Au and +1.3% Cu). Maiden drilling of vein system
below historic shallow high grade workings.
3. Main Lodes. Following extensive expert consultation, we have completed
targeting of the porphyry feeder indicated to be the source of
mineralisation for the entire system. Drilling will be extended to 250m
depth.
Further updates to come.
Building on Previous campaign success.
This drilling round will enable the Company to present a comprehensive picture
of this large-scale system which was identified using Tectonic's proprietary
Intrusive Related Gold System methodology and advanced remote sensing
technologies. The result has been the identification of a major copper-gold
system in that is largely under cover. High grade outcroppings previously mined
on a small scale were not understood to be part of a single large-scale system
despite numerous multi-million ounce neighbours in the prolific Queensland gold
belt.
Mr. Brett Boynton, Managing Director - Tectonic Gold Plc
"We have now completed several drilling programs along the extensive strike of
over 4km at Specimen Hill. Each of these has intersected gold and confirmed
continuity of mineralisation through the system. The company recently had an
independent review conducted to consolidate these programs into a whole of
system overview. This is being shared with corporate development teams in large
mining companies to support conversations on collaboration with a view to
replicating Greatland Gold and Solgold style joint ventures.
Some interesting detail on the current campaign: a specialist track-mounted rig
is being used to enable access in some difficult terrain. This will allow
maiden drilling below the old Goldsmith's Reef mine. The mine was last worked
pre-World War II with records showing grades of over 40g/t Au recovered.
Tectonic mapped old underground workings and took face samples from the mine
earlier this year. High grade copper and gold assays were reported in June.
These stacked vein formations typically extend well below the shallow historic
mining and are an attractive target for modern open pit mining techniques to
generate early cash flow for Tectonic.
We look forward to re-engaging the drill bit soon with regular updates planned"
Investors can sign up to Tectonic's mailing list at the following link:
http://www.tectonicgold.com/contact
Follow us on Twitter: @Tectonic_Gold
For further information, please contact:
Tectonic Gold plc +61 2 9241 7665
Brett Boynton
Sam Quinn
www.tectonicgold.com
investors@tectonicgold.com
Aquis Stock Exchange Corporate Adviser and Broker
VSA Capital Limited +44 20 3005 5004
Andrew Raca - Corporate Finance
Andrew Monk - Corporate Broking
END
(END) Dow Jones Newswires
August 13, 2021 02:00 ET (06:00 GMT)
Tectonic Gold (AQSE:TTAU)
Historical Stock Chart
From Dec 2024 to Jan 2025
Tectonic Gold (AQSE:TTAU)
Historical Stock Chart
From Jan 2024 to Jan 2025