TTAU Tectonic Gold Plc

 
TIDMTTAU 
 
21 December 2020 
 
                               TECTONIC GOLD PLC 
 
                      ("Tectonic Gold" or the "Company") 
 
           Initial Gold Silver and Copper results from Specimen Hill 
 
Tectonic Gold plc (TDIM: TTAU), the Intrusive Related Gold System ("IRGS") 
exploration pioneer, is pleased to announce the very positive, initial assay 
results from the drilling program at the Specimen Hill Prospect in Queensland, 
Australia. 
 
Highlights: 
 
  * 11 holes drilled with assays back from the first 3 holes. 
 
  * Gold/copper/silver mineralisation intersected in all holes 
 
  * Vertically extensive ore body 10m thick within a tightly controlled within 
    fault system. 
 
  * Mineralisation mapped over a 3km long strike and tested to 120m at depth. 
    It remains open in all directions. 
 
  * Polymetallic deposit assaying +1.5% copper 
 
  * High grade core (+16g/t gold and up to +15g/t silver over 1m) 
 
  * Medium grade halo (3.01g/t gold and 2.33 g/t silver over 7m) 
 
  * Remaining drill samples logged with similar characteristics, so expecting 
    grade continuity from additional assays after Christmas. 
 
Mr. Brett Boynton, Managing Director - Tectonic Gold Plc 
 
"This is a fantastic early Christmas present, and the team couldn't be happier 
with results so far. We now have vectors proving high grade mineralisation from 
surface to over 100m depth across a system in excess of 3km in length. We are 
working this up in a disciplined sequence, targeting mineralisation to 100m 
depth to start with as this is the scope for any future open pit mine. Below 
100m the ore zone becomes an underground mining target. What we are now looking 
at with Specimen Hill is a number of open pits which can brought into 
production to cash flow fund moving into a long-life operation. This is typical 
of what we see at Newcrest's flagship Cadia complex to the south and is what we 
believe other gold and copper majors such as Rio Tinto will be looking for. 
 
I would like to say thank you to our incredibly supportive shareholders who 
backed us to get the next phase of this project underway. I also want to give a 
special mention to our technical team that have "toughed it out this year", as 
the Aussies like to say. COVID forced us into a late start and rains have been 
a complication but we are benefiting from a disciplined approach over a number 
of years. 
 
With Southern Copper still to be drilled and Mt Cassidy also ready for first 
testing we have plenty of blue sky ahead of us in 2021." 
 
Results 
 
Following the successful 2018/19 campaign using Tectonic's proprietary 
technological approach, drill targeting has again proved 100% accurate with 
significant intersections of mineralisation at over 100m depth from the first 
three holes of the 2020 follow up drilling campaign. 
 
Initial assay results of a sub-sample of the first three holes (SHRC17, 20 and 
22) from the recent drilling that were sent for rapid turnaround have delivered 
an outstanding start to the campaign. These have proven the scale and grade of 
Tectonic's Intrusive Related Gold System discovery at Specimen Hill. 
 
Hole ID    Easting_MGA94  Northing_MGA94  RL_AMSL   AZI_mag   Dip   Total 
           z56            z56                                       Depth 
 
SHRC17     270816         7321726         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     270999         7321843         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     271950         7321675         582       144       -70   200 
 
             * 1m @ 1.23g/t Au; 15.85 g/t Ag and 1.77% Cu from 136m 
 
Samples from the remaining 8 holes were logged on site with very similar 
characteristics, so we expect assays from these holes to return similar results 
with gold/silver/copper mineralisation. 
 
The mineralisation is found in a textbook hydrothermal breccia zone which is 
tightly controlled within the Andrews Gulley and Specimen Hill shear zones. The 
strike of the system that has been mapped and sampled at surface already 
extends over 3km. It is likely that further exploration will increase this 
strike length as mineralisation outlying these structures was sampled in 
previous fieldwork and returned high gold, silver and copper grades. 
Geophysical reconnaissance shows the structures run at least 500m in depth. 
Recent drilling has confirmed mineralisation matching that at surface, to at 
least 120m in depth. Drill testing this envelope has given us proof of 
Tectonic's initial assessment that the Specimen Hill project is a large-scale 
gold/silver/copper (polymetallic) system with multi-million ounce potential. 
 
Due to a major storm system pushing in from the coast, drilling has been 
suspended after hole 11 and the team will return to the campaign in the new 
year. This break will give us time to conduct further detailed analysis and 
refine the follow up program. Given the success of the initial work we will 
likely move immediately to a high density follow up drilling to inform JORC 
resource definition and rapidly progress the project. 
 
The Southern Copper discovery and Mt Cassidy test holes remain on the program 
for the new year. Southern Copper is an opportunity to extend the Specimen Hill 
project and we are looking forward to adding results from there into the data 
room for potential partners. Mt Cassidy is the second Project in the pipeline 
and we are looking to advance that so that we have a mature exploration project 
in play in the event that we can close a transaction on Specimen Hill. 
 
About the Specimen Hill Prospect: 
 
Specimen Hill has produced over 8,000ozs of gold from historic small-scale 
surface mining with grades reported up to 40g/t Au. 
 
Tectonic Gold reinterpreted historic data and identified the possibility of a 
much larger system under cover. Through the use of advanced analytics and 
pioneering a number of new technologies, Tectonic Gold mapped the structure 
hosting the known gold bearing mineralisation and demonstrated a significant 
epithermal gold prospect from surface to +500m with multiple potential porphyry 
feeder zones at depth. 
 
During the 2018/19 field campaign, Tectonic drilled 2,517m over a ten-hole 
program testing the extensions of the Specimen Hill system. This campaign 
returned gold intersections in every hole with grades of up to +35g/t Au 
intersected. The current campaign is following up on the success of this 
program to increase drilling density to confirm grade continuity. This is a 
precursor to establishing a JORC compliant resource. 
 
Drill Warrants 
 
At the time of the last placing on September 9th 146,472,721 "drill warrants" 
were issued ion a 1 for 1 basis to subscribers entitled the holder to subscribe 
for a new Ordinary share at 0.7p per share at any time prior to the expiry of 
30 days after the Company publishes the results of its drilling programme. 
These warrants have not yet been triggered as the drill programme is not 
complete. The Company is aware of multiple interests to acquire the warrants by 
new investors who would exercise and thus fund the Company with an additional GBP 
1.025mn which would allow the Company to enlarge its drilling programme and so 
the Company is supportive of helping to find a way to make a transaction of 
this nature in the interests of all parties 
 
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. 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. Table 1 information for this release can be found on the Company 
website. 
 
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 and Broker 
 
VSA Capital Limited 
 
+44 20 3005 5000 
 
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 
 

(END) Dow Jones Newswires

December 21, 2020 03:36 ET (08:36 GMT)

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