Tectonic Gold Plc Remobilisation drilling update
06 October 2021 - 5:00PM
UK Regulatory
TIDMTTAU
6 October 2021
TECTONIC GOLD PLC
("Tectonic Gold" or the "Company")
Remobilisation drilling update
Tectonic Gold plc (TDIM: TTAU), the Intrusive Related Gold System ("IRGS")
explorer, has remobilised the technical team for a ten-day follow-up campaign
up with diamond drilling at Specimen Hill, in Queensland, Australia.
Highlights:
* 250m deep step-back hole along strike from the September 2021 discovery
confirmation hole at the Southern Copper currently being drilled
* 300m diamond core at Goldsmith's Reef planned, to intersect bullseye
geophysical target below high-grade workings following two successful holes
in September 2021
* Drill programme extended to deeper drilling to test for selective high
grade or large-scale bulk underground mining targets to complement existing
near surface mineralisation with open pit copper-gold potential
* Southern Copper discovery confirmation again proving the efficiency of
Tectonic's Australian Federal Government supported research into IRGS
Mr. Brett Boynton, Managing Director - Tectonic Gold Plc
"Testing at Specimen Hill has proven up a series of discoveries strung together
with mineralisation identified at surface, verified by drilling as continuing
at depth. The open pit potential from surface and near surface ores to generate
early cash flows can provide the means to internally fund underground
development for long life, deeper, bulk mines. This multiple open pit and
underground mine combination, feeding a single ore processing plant, is very
appealing to major mining companies. It is what we see at Newcrest's flagship
Cadia copper-gold complex to the south and is typical of what other gold and
copper international majors look for."
Background to Deeper Drilling at Southern Copper Project
The 4km+ long mineralised belt running from Main Lodes to Southern Copper has
produced a series of copper-gold discoveries for Tectonic. These have been
verified and the belt again extended in recent drilling. With the early success
of the September 2021 campaign, the company has decided to immediately
remobilise with a diamond rig to drill a deeper hole along strike at the
Southern Copper discovery and core below the high-grade workings at Goldsmith's
Reef. A bullseye geophysical target has been identified here as a potential
feeder to the high-grade gold intersected at and near surface.
The Specimen Hill project suite has delivered numerous discoveries, proving the
efficiency of Tectonic's Australian Federal Government supported research into
Intrusive Related Gold Systems and how to utilise digital technologies to
identify and delineate targets. These large-scale multi-target systems are
often beyond the means of junior exploration companies to tackle, but Tectonic
has pioneered and utilised advanced remote sensing technologies and innovative
methodologies to cost effectively progress these exploration assets. This has
been augmented with highly targeted drilling over the last three years, that
has significantly extended the verified mineralisation at and near surface
within this large-scale copper-gold system. Tectonic is now extending to deeper
drilling to test for selective high grade or large-scale bulk underground
mining prospects to enhance the package as we seek development partners.
About Specimen Hill:
Specimen Hill has produced over 8,000ozs of gold from historic small-scale
surface mining dating back to pre-World War I, with grades reported up to 40g/t
Au.
Tectonic Gold has identified a large Intrusive Related Gold System (IRGS)
manifesting as a 4km+ long mineralised corridor at Specimen Hill and has
identified the possibility of a much larger system under cover. Gold, copper
and silver mineralisation within the known 4km+ corridor manifests itself at
and near surface as a polymetallic, high-sulphidation (HS) system that has been
enriched by late-stage intermediate-low sulphidation (IS-LS) gold
mineralisation. At depth, Tectonic is targeting a gold-copper porphyry
co-incident with a high-temperature magnetite rich core (identified at Specimen
Hill and Southern Copper Targets which are associated with high copper and gold
grades).
Sampling by Tectonic over the surrounding area of 18 km2 have returned grades
with consistently elevated Gold, Copper and Silver.
During the 2019 drilling campaign, Tectonic completed 2,517m over a ten-hole
diamond 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 follow up 2020 and 2021 programs intersected gold
mineralisation of up to 16g/t gold at depths to over 100m. It was identified
that copper grades also increased with depth. To date over 8,000m has been
drilled at Specimen Hill confirming multiple discoveries. This is a precursor
to establishing a JORC compliant resource.
A summary of the key areas of interest within the Specimen Hill suite is below:
Prospect Name Surface Mapping Surface Sampling Drilling
Specimen Hill Yes - Alteration Yes, grades up 3 g/t Au Yes, grades up to 3 g/t
North and Mineralisation Au at depth
Specimen Hill Yes - Alteration Yes, grades up 4 g/t Au Yes, grades up to 7 g/t
Southeast and Mineralisation Au at depth
The Wedge Yes - Alteration Yes, grades up 3 g/t Au Yes, grades up to 11 g/t
and Mineralisation Au at depth
Cameron's Yes - Alteration Yes, grades up 9 g/t Au Yes, grades up to 16 g/t
Lookout / and Mineralisation Au at depth
Andrews Gully
Main Lodes Yes - Alteration Yes, grades up 8 g/t Au Yes, grades up to 35 g/t
and Mineralisation Au at depth
Porphyry retested and
confimed
Goldsmith's Yes - Alteration Yes, and underground Mineralisation
Reef and Mineralisation workings face samples > intersected - returning
5g/t Au to drill diamond
Southern Copper Yes - Alteration Yes, grades up 8 g/t Au Drilled and returned 2 x
and Mineralisation and 16% Cu 20-30m mineralized
intersections with
native copper
Immediate follow up hole
under way
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 +61 2 9241 7665
Brett Boynton
Sam Quinn
www.tectonicgold.com.
@tectonic_gold
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.
END
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