Tectonic Gold Plc Final Assay Analysis for Specimen Hill
February 11 2019 - 3:09AM
UK Regulatory
TIDMTTAU
11 February 2019
TECTONIC GOLD PLC
("Tectonic Gold" or the "Company")
Drilling and Assays - Specimen Hill Project
Tectonic Gold plc (TDIM: TTAU), an Intrusive Related Gold ("IRGS") exploration
pioneer, is pleased to announce that nearly all assays from the
October-November 2018 diamond drilling campaign at the Company's flagship
Specimen Hill project in Queensland, Australia have been received.
Highlights:
* The 'Stage 1' drill program for 2,517.3m of HQ3 diamond drilling was
completed as planned
* 95% of all assays sent for analysis have been returned
* Gold mineralisation was intersected in all holes drilled
* Geological review of core confirms an IRGS diatreme system comparable to
neighbouring multi million ounce gold deposits at Kidston (3.7Moz Au), Mt
Rawdon (3.5Moz Au) and Mt. Leyshon (2Moz Au)
* Grades of up to +35g/t Au intersected with high Ag, Mo and Te assays
* The mineralised system is confirmed open at depth and along strike
* Geological modelling of results to be presented in March 2019
* Follow up 7,500m 'Stage 2' drilling program being planned
The reporting of assay results is largely complete and the technical team has
progressed its assessment and incorporation of these results into geological
models and targeting for follow up drilling. A further 7,500m remains to be
drilled with Titeline Drilling Ltd under the drill for equity agreement.
Positive assay results including exceptional gold grades in excess of an ounce
per tonne have been recorded. These intersections are from the epithermal zone,
below and adjacent to previously tested and confirmed mineralisation at the
Main Lodes.
Typical of high to intermediate sulphidation epithermal deposits, high grades
of molybdenum, silver, tellurium and other "signature" IRGS elements were
returned.
Specimen Hill Phase 1 Diamond Drilling Program - Significant
Intercepts > 1.0g/t Au * Rounding in effect
Hole Name From (m) To (m) Interval Gold (g/ Silver (g Tellurium
(m) t) /t) (g/t)
SHDD09 14.0 14.8 0.8 1.23 151.00 153.50
(HQ3)
SHDD11 6.3 7.2 0.9 2.15 0.31 9.79
(HQ3)
59.0 60.0 1.0 1.64 0.30 6.37
80.2 81.2 1.0 8.25 1.37 19.95
90.4 91.0 1.6 5.79 20.76 3.27
Including 0.25m @ 35.2g/t Au; 37.2 g/t Ag and 15.15 g/t Te
from 90.4m
118.0 119.0 1.0 1.35 5.54 5.76
The geological, structural and assay results from the Stage 1 drilling program
at Specimen Hill have proved Tectonic Golds' research suggesting that the
multi-phase IRGS systems can be accurately targeted with the integrated use
advanced geophysics such as Sub-Audio Magnetics ("SAM") and DIAS - 3D IP
technologies, far more cost effectively than traditional exploration
techniques.
About the Specimen Hill Prospect:
Specimen Hill has produced over 8,000 ozs of gold from historic small-scale
surface and shallow underground mining, with run of mine grades reported up to
40g/t Au. Despite this rich production, previous explorers were unable to map
the system under cover and establish a large-scale resource, so the project
remained undeveloped.
Tectonic Gold reinterpreted historic data utilising proprietary IRGS
understanding and identified extensions to the mineralised system under cover.
Using advanced software, big-data analytics, new geophysical technologies and
innovative testing methodologies, such as Laser Ablation Inductively Coupled
Mass Spectrometry (LA-ICP-MS), Tectonic Gold has unlocked this mineralised
system. The Company has significantly extended the known structure hosting gold
bearing mineralisation and demonstrated a vertically extensive epithermal gold
prospect from surface to +500m, with multiple potential porphyry feeder zones
at depth.
Intrusive gold system style alteration and sulphide zones have been intersected
in the current drilling campaign proving the similarity to neighbouring
multi-million ounce deposits.
Historic drilling of 63 shallow holes delivered grades to 15g/t within a 300m
strike. The current drilling campaign confirms the strike extension mapped by
our recent geophysical surveying, to over 1,500m.
A buried intrusive interpreted to be part of the mineralising source for the
epithermal deposit has been intersected in deeper drilling, confirming the
targeting by DIAS 3D IP surveying technology the Company employed in April
2018.
About Tectonic Gold:
Tectonic Gold is a specialist gold exploration company, focused on the
identification and delineation of large-scale, multimillion-ounce Intrusion
Related Gold System ("IRGS") assets. Tectonic Gold holds a number of gold
discoveries in the Lachlan Fold Belt in Eastern Australia, a prolific gold
region that is home to Australia's two largest gold production companies,
Newcrest Mining and Evolution Mining.
Mr. Brett Boynton, Managing Director - Tectonic Gold Plc
"The Stage 1 drilling at Specimen Hill has provided us with a technical win on
the research front and high grades in all key IRGS elements including gold,
molybdenum, silver, and tellurium
The system identified at the Main Lodes is large, has returned high-grade
intersections and remains open at depth and along strike.
We have a final few assays still to be processed that are indefinitely delayed
due to the regional flooding in Townsville where our samples are being stored,
but we have sufficient information from the program to plan the next campaign.
A follow up 7,500m drill program, utilising our drill for equity credit with
partner Titeline Drilling, targeting further extensions to the epithermal zone,
is currently under review by our technical team and external advisors.
Australian gold prices are currently over A$1,800 per ounce, testing all time
highs, making it an ideal time to be active and exploring for gold.
We have shared a selection of core photos on the website at
www.tectonicgold.com and on Twitter @tectonic_gold.
Finally, our thoughts are with our subcontractors and the folks up in
Townsville affected by the cyclone flooding over the last week.
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 required for the reporting of Exploration Results, Mineral
Resources and Ore Reserves' in accordance with the guidelines of the 'JORC
Code' can be found on the Company website for the Specimen Hill Prospect.
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
NEX Exchange Corporate Adviser and +44 20 7469 0930
Broker
Peterhouse Capital Limited
Mark Anwyl
Financial Adviser and Broker +44 20 3005 5004
VSA Capital Limited
Andrew Raca
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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