Three distinct styles of gold
mineralization now observed at Tibbs including Fort Knox-style
intrusion-hosted sheeted gold-quartz veins
VANCOUVER, BC, Dec. 21, 2020 /CNW/ - Tectonic Metals Inc.
(TSX-V: TECT; OTCQB: TETOF) ("Tectonic" or the "Company")
today announced mapping, prospecting, and sampling results from the
Tibbs Gold Project ("Tibbs") including a 27.9 grams per tonne
gold ("g/t Au") rock grab sample of granodiorite cut by sheeted
quartz veins containing visible gold ("VG"). This material
represents a new style of gold mineralization at Tibbs and is
reminiscent of Fort Knox-style mineralization observed at the
adjoining Northern Star Resources (ASX: NST) Brink gold prospect
("Brink"), where historical 2013 diamond drilling returned 0.427
g/t Au over 514.4 metres ("m"). The Brink drill intercept is
situated within a multi-kilometre mineralized trend that extends
onto the Tibbs property and shares the same granodiorite host rock,
sheeted gold-quartz vein mineralization, and
gold-arsenic-bismuth-tungsten geochemical signature as the recently
collected Tibbs rock grab samples. Three distinct styles of
gold mineralization are now observed at Tibbs: 1) Pogo-style
high-grade gold-quartz veining at the Gray Lead prospect; 2)
Intrusion-hosted disseminated sulphides and stockwork
gold-quartz-stibnite-arsenopyrite veining at the Michigan and Upper/Lower Trench prospects; and
3) Fort Knox-style intrusion-hosted sheeted
gold-quartz-bismuthenite veins at the Jorts and Hilltop
prospects.
Eric Buitenhuis, VP Exploration,
commented, "While conducting our 2020 drilling program at Tibbs,
a team of geologists was deployed to map and prospect our two newly
acquired Native-Owned Carrie Creek blocks, contiguous with Tibbs to
the north and south. Our prospecting results demonstrate a new
style of mineralization and, significantly, a much greater
distribution of gold mineralization than historically known or
expected. The presence of Fort Knox-style sheeted veins at the
newly expanded Tibbs property represents a third style of
intrusion-related gold mineralization on Tectonic's ground,
confirming the presence of a well-developed mineralizing system and
providing an additional avenue for exploration targeting."
Tibbs Gold Property - Prospecting Highlights
- Prospecting at Tibbs focused on the two newly acquired
Carrie Creek blocks, located to the
immediate north and south of the original Tibbs Gold Project and
situated on Native Owned Land belonging to Doyon, Limited, one of
Alaska's largest Native Regional
Corporations and the largest private landholder in the State of Alaska.
- A total of 115 rock grab samples were collected at Tibbs during
the 2020 prospecting program.
- Tectonic's 2020 prospecting campaign identified the Jorts and
Jeans Ridge prospects in the underexplored southwest portion of
Tibbs. Rock grab samples at Jorts returned values from trace to
27.9 g/t Au, with fine grained (0.5-1mm) VG associated with
bismuthenite in sheeted quartz veins cutting granodiorite (Click
here for image).
- Grab samples from Jeans Ridge, located 1.3 km northeast of
Jorts, returned values from trace to 2.5 g/t Au.
- Gold mineralization in rock grabs at Jorts and Jeans is
associated with high levels of bismuth (trace to 513 parts per
million ("ppm")) and tungsten (trace to >100ppm,
overlimit).
- Mineralization at Jorts and Jeans extends along a ~4 km
northeast trend and is on-trend with mineralization found at Brink
to the southwest, which hosts Fort Knox-style gold-bearing sheeted
quartz veins and veinlets.
- The prospecting program conducted this season represents the
first exploration work completed at the two Carrie Creek blocks in over 20 years.
For additional information regarding the Tibbs property, please
see details here and maps here.
Qualified Person & QA/QC
Tectonic's disclosure of a technical or scientific nature in
this press release has been reviewed, verified and approved by
Eric Buitenhuis, M.Sc., P.Geo.,
Tectonic's Vice President Exploration, who serves as a Qualified
Person under the definition of National Instrument 43-101.
The analytical work for the 2020 rock sampling program was
performed by Bureau Veritas Laboratories ("BV"), an internationally
recognized and accredited analytical services provider, which is
independent of Tectonic. All rock samples were prepared using
procedure PRP70-250 (crush, split, and pulverize 250g to 200 mesh)
at BV's Fairbanks, Alaska
facility. Samples were then sent to Vancouver, Canada, where they underwent
analysis for gold by method FA430 (30-gram Fire Assay fusion with
an atomic absorption finish (AAS). Samples returning >10 g/t Au
were re-analyzed using method FA530-Au (30g Fire Assay with
gravimetric finish). Following this, a 15g pulp was sent to the
Vancouver, British Columbia lab
for an aqua regia Inductively Coupled Plasma Emission Spectrometer
(ICP-ES/MS) analysis for 36 elements using method AQ201. Quality
Assurance and Quality Control procedures include the systematic
insertion of blanks and standards into the sample string at a rate
of approximately 1/10 (10%). Samples are placed in sealed bags and
shipped directly to the BV preparation facility in Fairbanks, Alaska.
About Tectonic
Tectonic Metals Inc. is a mineral exploration company created
and operated by an experienced and well-respected technical and
financial team with a track record of wealth creation for
shareholders. Key members of the Tectonic team were involved
with Kaminak Gold Corporation, the company that raised C$165 million to fund the acquisition, discovery
and advancement of the Coffee Gold Project in the Yukon Territory through to the completion of a
bankable feasibility study before selling the multi-million-ounce
gold project to Goldcorp Inc. (now Newmont Goldcorp) for
C$520 million in 2016.
Tectonic is focused on the acquisition, exploration, discovery,
and development of mineral resources from district-scale projects
in politically stable jurisdictions that have the potential to host
world-class orebodies.
Tectonic believes that responsible mineral exploration and
development can positively impact the communities in which the
company lives and operates and is committed to early and ongoing
community engagement, best practices in environmental stewardship
and the development of a strong safety culture. Whether at home or
at work, the Tectonic team is grounded on the following core
values: passion, integrity, patience, focus, perseverance,
honesty, fairness, accountability, respect, and a play big
mindset. The company works for its shareholders and is
committed to creating value for them.
On behalf of Tectonic Metals Inc.,
Tony Reda
President and Chief Executive Officer
For further information about Tectonic Metals Inc. or this news
release, please visit our website at www.tectonicmetals.com or
contact Bill Stormont, Investor
Relations, at toll-free 1.888.685.8558 or by email at
info@tectonicmetals.com.
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Cautionary Note Regarding Forward-Looking Statements and
Historical Information
Certain information in this news release constitutes
forward-looking information and statements under applicable
securities law. Any statements that are contained in this news
release that are not statements of historical fact may be deemed to
be forward-looking statements. Forward-looking statements are often
identified by terms such as "may", "should", "anticipate",
"expect", "intend" and similar expressions and include, but are not
limited to, statements with respect to the potential for
mineralization at Tectonic's projects, benefits of the acquisition
of properties, and any future exploration
activities. The Company makes no representation
or warranty regarding the accuracy or completeness of any
historical data from prior exploration undertaken by others other
than the company and has not taken any steps to verify, the
adequacy, accuracy or completeness of the information provided
herein and, under no circumstances, will be liable for any
inaccuracies or omissions in any such information or data, any
delays or errors in the transmission thereof, or any loss or
direct, indirect, incidental, special or consequential damages
caused by reliance on this information or the risks arising from
the stock market.
Forward-looking information is not a guarantee of future
performance and is based upon a number of estimates and assumptions
of management at the date the statements are made including, among
others, assumptions about future prices of gold and other metal
prices, currency exchange rates and interest rates, favourable
operating conditions, political stability, obtaining
governmental and other approvals and financing on time,
obtaining required licenses and permits, labour stability,
stability in market conditions, availability of equipment, accuracy
of any mineral resources, successful resolution of disputes and
anticipated costs and expenditures. Many assumptions are based on
factors and events that are not within the control of
Tectonic, and there is no assurance they will prove to be
correct.
Although Tectonic considers these beliefs and assumptions to
be reasonable based on information currently available to it, they
may prove to be incorrect, and the forward-looking statements in
this release are subject to numerous risks, uncertainties and other
factors that may cause future results to differ materially from
those expressed or implied in such forward-looking statements.
Forward-looking statements necessarily involve known and unknown
risks, including, without limitation: the Company's ability to
implement its business strategies; risks associated with mineral
exploration and production; risks associated with general economic
conditions; adverse industry events; marketing and transportation
costs; loss of markets; volatility of commodity prices; inability
to access sufficient capital from internal and external sources,
and/or inability to access sufficient capital on favourable terms;
industry and government regulation; changes in legislation, income
tax and regulatory matters; competition; currency and interest rate
fluctuations; and other risks.
Readers are further cautioned not to place undue reliance on
forward-looking statements as there can be no assurance that the
plans, intentions or expectations upon which they are placed will
occur. Such information, although considered reasonable by
management at the time of preparation, may prove to be incorrect
and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement. Although Tectonic
has attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking information. Tectonic does
not undertake to update any forward-looking information, except in
accordance with applicable securities laws.
[Neither the TSX Venture Exchange nor its Regulation
Service Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.]
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SOURCE Tectonic Metals Inc.
