VANCOUVER, BC, July 20, 2021 /CNW/ - Tectonic Metals Inc.
(TSXV: TECT) (OTCQB: TETOF) (FSE: T15B) (the "Company" or
"Tectonic") today announced the commencement of a deep-penetrating
TITAN-160 ("TITAN") ground-based Geophysical Survey (the "Survey")
designed to specifically target multiple Pogo-like gold-in-soil
anomalies situated on the Company's Tibbs Gold Project ("Tibbs"),
located in Alaska's Goodpaster
Mining District, 35 kilometres ("km") east of Northern Star
Resources' Pogo Gold Mine. The Company engaged Quantec Geoscience
Limited to carry out the Survey at Tibbs to transect the entirety
of the structural corridor, which controls gold mineralization at
the property. TITAN is a unique survey that employs two separate
geophysical surveys: DC Resistivity and Induced Polarization
("DCIP") and Magnetotelluric ("MT") and provides DCIP resistivity
and chargeability sections at depths of up to 750m, with MT collected to depths of 1,500m and greater.
Tony Reda, President & CEO,
commented, "Tectonic's innovative approach to mineral
exploration is once again reflected in our decision to conduct a
deep searching TITAN survey at Tibbs. For the first time in the
history of this property, a non-airborne geophysical survey will
fully transect the prospective host rocks and structural corridor,
which controls gold mineralization. Interestingly, limited
historical ground geophysical surveys were restricted to the
intrusive rocks, while gneissic rocks in the west of the property,
which are similar to those which host the mineralization at the
nearby Pogo Gold Mine, were untested. Extending our TITAN lines
across the entire rock package and structural corridor at Tibbs
will assist us in drill testing this season for possible low-angle
shears or structures within the gneissic rocks, a target
potentially analogous to the Liese veins at Pogo."
Previous field observations and structural analysis undertaken
by Tectonic suggests the presence of low-angle extensional
structures and shears within the gneissic rocks. This structural
and geological setting is similar to that found at the Liese zone
at the Pogo Gold Mine, where low-angle reactivated shear structures
host gold mineralization in quartz-sulphide veins. The subsurface
resolution provided by the near surface DCIP and deep looking MT
will aid in the interpretation of the structural architecture of
the project. Results of the Survey will be instrumental in
determining drill hole targeting during the second phase of the
Company's on-going 2021 drilling program at Tibbs.
TITAN-160 Survey – Technical Details
Four TITAN lines 4,000m long and
spaced approximately 1,000m apart are
planned at Tibbs. Dipoles are spaced at 100m along each line, with MT sites spaced at
200m, to provide data coverage to
significant depths (DCIP to approximately 750m depth; MT resistivity to approximately
4,000m depth). The Survey is expected
to be completed in the latter half of July.
A map of the planned TITAN lines can be found on Tectonic's
website here.
Tectonic's ongoing 2021 exploration program consists of the
first oriented diamond drill core in the property's history, a
TITAN survey, and geological mapping and prospecting. The program
is designed to obtain structural control on high grade
mineralization drilled by the Company over the previous two
seasons, while also refining and testing newly discovered
exploration targets with similar structural, geological, and
geochemical features as mineralization at the Pogo Gold Mine.
About Tibbs
Detailed maps, cross sections and historic drill data relating
to Tibbs may be found on Tectonic's website 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.
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 Tony Reda, President &
CEO of Tectonic, or 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
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.
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 it's 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.
