Tectonic Gold Plc Exploration update from Specimen Hill
February 12 2021 - 2:00AM
UK Regulatory
TIDMTTAU
12 February 2021
TECTONIC GOLD PLC
("Tectonic Gold" or the "Company")
Exploration update from Specimen Hill
Tectonic Gold plc (TDIM: TTAU), an Intrusive Related Gold System ("IRGS")
explorer, is pleased to announce additional successful assay results reporting
gold and copper in Hole 27 at Specimen Hill.
Specimen Hill Highlights:
* Hole 27 intersected multiple stacked veins containing gold
* Included is a 2m intersection at 50m depth with +2g/t gold and 0.4% copper
* Targeting remains continues to be 100% successful
* 1085 Samples sent for XRF screening have been processed
Mr. Brett Boynton, Managing Director - Tectonic Gold Plc
"The results from Hole 27 show multiple stacked veins somewhat like a palm tree
spraying out mineralised fronds from the primary fault zone. These fronds range
in thickness up to over 2m with grades over 2g/t gold and an attractive copper
compliment.
Stacked veins of this nature are a very attractive open-pit mining target. Bulk
mining this is cost effective and is the approach taken at Cadia, Newcrest's
flagship mine to our south. Cadia mines relatively low gold grades at only 1g/t
gold, but due to scale and copper credits is one of the lowest cost per ounce
gold mines. . We see all the signs at Specimen Hill so far of scale and grade
to support this type of mine.
It is worth revisiting the aerial view schematic of Specimen Hill we published
to the website earlier in the year showing the scale of the project over a +4km
strike.
* http://www.tectonicgold.com/site/PDF/8effb993-6049-4f39-8a0c-146055ef6767/
20210112SpecimenHill4kmStrike
We are working methodically through the corridor from the Main Lodes to
Southern Copper, with the drilling, proving up that the gold mapped at surface
has continuity in mineralisation intersected by drilling at depth. We liken
this to a mineralised curtain hanging in the fault zone that we have mapped at
surface. It pinches and swells and geological activity has distorted it and in
some areas torn it, but what we are seeing so far is a reasonable continuity of
the ore zone from surface to at least 100m in depth along this strike.
Geophysical mapping shows the structure at Specimen Hill continues well below
500m. If there is continuity of mineralisation in the structure to that depth
then we will have a Cadia style opportunity with open pit and underground
mining at scale.
For ease of reference we have included in this RNS the detailed drilling
results with the addition of Hole 27 below. "
Exploration Update:
Recent and ongoing field activities have confirmed that the Main Lodes,
Cameron's Lookout, Andrew's Gully and Southern Copper prospects are all part of
a +4km long laterally contiguous and vertically persistent (+500m) gold rich
system that is contained within a 250m wide corridor.
Planned Holes Planned Metres Holes Drilled Meters Drilled
13 Holes 2,000m 11 Holes 1,430
Rock chip sampling from surface exposures have returned assays up to 16g/t Au
and these gold grades have been replicated at depth by the 2020 drilling
campaign.
Significant intercepts
Hole ID Easting Northing RL AZI Dip Total
MGA94 z56 MGA94 z56 (AHD) (MAG) Depth (m)
SHRC17 270,816 7,321,726 547 055 -66 104
* 7m @ 3.01g/t Au; 2.33 g/t Ag and 0.14% Cu from 96m
* Incl. 1m @ 16.30g/t Au; 8.31 g/t Ag and 0.34% Cu from 98m, and
* 3m @ 6.95 g/t Au; 5.09 g/t Ag and 0.32% Cu from 98m.
SHRC20 270,999 7,321,843 552 214 -70 150
* 9m @ 0.84 g/t Au; 0.62g/t Ag and 0.19% Cu from 18m
* Incl. 1m @ 2.37g/t Au from 18m, and
* 1m @ 0.85 g/t Au; 2.58 g/t Ag and 1.56% Cu from 23m.
SHRC22 271,950 7,321,675 582 144 -70 200
* 1m @ 1.23g/t Au; 15.85 g/t Ag and 1.77% Cu from 136m
SHRC24 270,563 7,321,441 560 105 -65 104
* 2m @ 3.69 g/t Au, from 79m.
SHRC27 271,024 7,321,934 552 190 -70 100
* 2m @ 2.09 g/t Au and 0.39% Cu from 50m
Follow up works Specimen Hill:
Following the successful 2020 drilling program, Tectonic is planning a further
4,000m of infill drilling at Specimen Hill to confirm both geological and grade
continuity within the identified mineralised corridor. This will provide news
flow and a lot of data to share with prospective development partners.
About the Specimen Hill Prospect:
Specimen Hill is located in a recognised gold producing region of the New
England Orogen. Tectonic has been systematically exploring the Specimen Hill
area since it acquired the tenements in 2010, culminating in the definition of
a significant mineralised corridor.
Specimen Hill has produced over 8,000ozs of gold from historic small-scale
surface mining with grades reported up to 40g/t Au.
Geophysical analysis and subsequent drill testing of geophysical IP and
coincident magnetic anomalies in 2018 led Tectonic to the discovery of a
significant mineralised corridor.
Gold, copper and silver mineralisation within the known 4km corridor manifests
itself 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 seeing that this is 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).
Rock chip samples from surface skarn outcrops mapped so far over the area of
18 km2 have returned grades of consistently elevated Au, Ag and Cu. Recent and
ongoing field activities have confirmed that the Main Lodes, Cameron's Lookout,
Andrew's Gully and Southern Copper prospects are all part of a 4km long
laterally contiguous and vertically persistent (+500m) gold rich system that is
contained within a 250m wide corridor.
For comparison the Newcrest owned Cadia East copper-gold deposit in NSW has a
mineralised zone 2.5 km in length, 600m in width and over 1,900 m in vertical
extent.
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 Systems ("IRGS"). Tectonic Gold holds a number of gold discoveries
in the New England Orogen in Eastern Australia, a prolific gold region that is
home to Australia's two largest gold production companies, Newcrest Mining and
Evolution Mining. Rio Tinto, one of the largest copper companies in the world
has recently taken a large tenement alongside Tectonic's Specimen Hill project
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.
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 +44 20 3005 5000
and Broker
VSA Capital Limited
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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