VANCOUVER, BC, Aug. 18, 2021 /CNW/ - Tectonic Metals Inc.
(TSXV: TECT) (OTCQB: TETOF) (FSE: T15B) (the "Company" or
"Tectonic") today announced that Phase II oriented diamond drilling
commenced at the Company's Tibbs Gold Project ("Tibbs") after the
previously announced deep-penetrating TITAN-160 ("TITAN")
ground-based Geophysical Survey (the "Survey") successfully
identified interpreted low and high-angle controlling structures
coinciding with gold-in-soil anomalies sharing the same
geochemistry and host rocks as the mineralization observed at
Northern Star Resources' (ASX: NST) nearby Pogo Gold Mine ("Pogo"). These characteristics
are key components of the "Pogo Geological Model" (See here), which
Tectonic applied to Tibbs resulting in numerous untested anomalies
warranting drill testing.
Phase II drilling focuses on drill testing these Pogo-like
targets, including West Trench, Johnson Saddle, Galosh, and Gray
Lead West, which have never been drilled before. Oriented
diamond drill holes will test for both low and high-angle
structures as interpreted at these targets. At Pogo, both low and
high-angle structural features acted as structural conduits for
mineralization, with faulting observed both at lithological
contacts, which acted as weak zones amenable to faulting, and
within single gneissic units. Both high and low-angle structures at
Pogo are favourable hosts for gold-quartz vein mineralization.
Phase I diamond drilling is now complete with assays pending from
the following Tibbs zones: Michigan, Gray Lead and Wolverine.
To learn more about Tectonic's Phase II drill targets, please
click here.
Tibbs Gold Project – TITAN Survey Completed
The Survey
was designed to determine the subsurface geological and structural
architecture at Tibbs, specifically in the western extent of the
project where multiple Pogo-like gold-in-soil anomalies are found
in prospective gneissic host rocks. The Survey successfully
identified low and high-angle controlling structures coinciding
with gold-in-soil anomalies, which the Company interprets as
high-angle feeder structures adjacent to low-angle lithological
contacts and possible fault zones – an analogue to the structural
controls on mineralization observed at Pogo, located 35 kilometres
("km") to the west of Tibbs. Four TITAN lines were completed for a
total of 16.8 line-km surveyed across the property.
Tony Reda, President & CEO,
commented, "Following the successful completion and
interpretation of the results of Tectonic's 2021 TITAN survey, we
have kicked off our Phase II drill program given the Survey
confirmed our exploration model of high-angle fault structures
which host high-tenor gold, arsenic and bismuth soil anomalies that
are found immediately adjacent to two panels of moderately dipping
gneissic rocks. The gneissic rocks host gently dipping conductivity
anomalies which may represent low-angle structures analogous to the
shear structures which host the Liese veins at Pogo. Tectonic moved
quickly to exploit the Survey's findings, commencing Phase II of
our drill program at our West Trench target, and we look forward to
testing the never before drilled gneissic portion of
Tibbs."
Tibbs Gold Project – West Trench Survey Results
The Company is highlighting the West Trench Survey results in
this news release; however, for a detailed discussion of the
complete Survey, its purpose and targets, please see Tectonic's
news release dated July 20, 2021,
here.
At West Trench, a prominent conductivity anomaly was found
immediately west of two controlling high-angle fault structures.
Both structures host high-tenor gold, arsenic, and bismuth soil
anomalies at surface ("Au-As-Bi"), indicating the structures were
open to a mineralizing fluid. The low-angle conductivity anomaly is
found adjacent to the interpreted moderately west dipping contact
between augen gneiss and paragneiss, the latter comprising the host
rock at Pogo. The anomaly begins only 80m below surface, well within reach of
conventional drilling methods, and extends for over 600m along the modelled section. Mapped geology
at surface indicates a possible moderately west-dipping contact
between augen gneiss in the west and paragneiss in the east,
suggesting that the low-angled conductivity anomaly may represent a
low-angle structure.
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 resembles that found at the Liese zone at
Pogo, 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 has aided in
the interpretation of the structural architecture of the project.
Results of the Survey are directly influencing drill collar
locations and planned hole depths for the Company's ongoing
oriented diamond drilling campaign.
TITAN-160 Survey – Technical Details
TITAN is a unique
survey that employs two separate geophysical surveys: DC
Resistivity and Induced Polarization ("DCIP") and Magnetotelluric
("MT"). At Tibbs, the Survey provided DCIP resistivity and
chargeability sections to 750m depth
and MT sections to a maximum of 3,700m depth, allowing for interpretation of
controlling features of the structural corridor.
Four TITAN lines between 4,000m
and 4,400m long and spaced
approximately 1,000m apart were
completed at Tibbs. Survey lines were oriented roughly
northwest-southeast in order to orthogonally transect the
dominantly northeast trending structural corridor at the project
area. Dipoles were spaced at 100m
along each line with MT sites spaced at 200m intervals to provide survey coverage to
significant depths (DCIP to approximately 750m depth; MT resistivity to approximately
3,700m depth in this Survey).
A map of the completed 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 Pogo.
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.
