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Tectonic Gold Plc - Copper Gold Discovery and update from Specimen Hill

·7-min read

23 June 2021

TECTONIC GOLD PLC

(“Tectonic Gold” or the “Company”)

Copper Gold Discovery and update from Specimen Hill

Tectonic Gold plc (TDIM: TTAU), the Intrusive Related Gold System (“IRGS”) explorer, is pleased to announce successful assay results reporting gold and copper from recent drill preparation work at its Specimen Hill project in Queensland Australia.

Highlights:

  • Rediscovery of “Goldsmith’s Reef” with historic +40g/t artisanal gold production

  • Underground mine face samples from old workings +5.4g/t Au and +1.3% Cu

  • Provides high grade mid-point continuity between Main Lodes and Southern Copper

  • A second high grade discovery named “Overshoot” found along strike from Southern Copper

  • 2.6% Cu returned from assay of exposed mineralisation

  • Independent structural mapping/modelling of Specimen Hill completed for drill targeting

  • Drill mobilisation planned for Southern Copper campaign

Mr. Brett Boynton, Managing Director – Tectonic Gold Plc

“We have had a busy restart to the 2021 campaign season with a lot of time back on the ground since we demobilised the January drilling program. We are excited to be preparing to drill again with a couple of exciting new discoveries. These were made while conducting detailed mapping on the Main Lodes to Southern Copper strike. This was part of an independent structural modelling with Dr Brett Davis of Olinda Gold Structural Geology Consulting. Dr Davis is an external expert Newcrest used in their assessment of Greatland Gold. Tectonic engaged with Dr Davis to ensure we have the highest calibre validation of our projects to replicate Greatland’s strategy in partnering with a major gold company.

This is our first operations update since the January drilling results. With the dry season well underway we expect to have sustained field activity and more news flow into the second half of the year.”

Specimen Hill Project Update

Tectonic previously mapped a continuous strike from Main Lodes to Southern Copper, a distance of over 4km. The focus of the work over the last three months has been to increase the resolution of this mapping with on the ground surveying, sampling and assaying. This work was conducted over many weeks in the field and afforded the technical team the opportunity to take a number of independent specialists out to site.

These independent specialists include Dr Brett Davis, who has completed an advanced structural model of Specimen Hill which informs our drill targeting. Following this the Company has completed a detailed mineralogical study on 2018 drilling data to validate the blind porphyry under Main Lodes and provide final input for deeper drill targeting of this discovery.

During these mapping expeditions, the old workings of Goldsmith’s Reef, which date back to before World War One, were identified. Small syndicate scale underground workings selectively mined high grade veins reporting grades of over 40g/t gold. Goldsmiths Reef is an enticing rediscovery as modern mining technology now enables large scale open pit mining which could economically exploit this mineralisation to a much greater depth than was historically possible.

The table below highlights the independent assays from the face samples collected during the survey of the underground workings.

Location

Sample Number

Au (g/t)

Cu%

Ag (g/t)

Goldsmiths Reef Stope Spoils

30255

5.42

0.01

0.57

Underground Mineralised Structure

30263

1.10

1.39

21.80

Underground geological mapping of veins confirms the continuity of gold and copper mineralisation previously mapped on surface. This is an important data set as it confirms continuity of mineralisation along strike from previous testing at Andrew’s Gulley which is approximately halfway between Main Lodes and Southern Copper.

A second discovery was made along strike from Southern Copper during site preparation for drilling with new access roads being cut. The team have named this prospect “Overshoot”. This prospect is 3km along strike southwest of southern Copper.

Assay results from outcrop sampled showing exciting copper grades are presented in the table below.

Location

Sample Number

Au (g/t)

Cu%

Ag (g/t)

Overshoot Copper Prospect.
266943/7317456 (94zn56)

30265

0.70

2.6

6.23

This methodical approach to infilling data along the corridor from the Main Lodes to Southern Copper continued to reinforce Tectonic’s expectations of the prospectivity of the area.

The Company is now ready to bring the drill rig back to site to tackle depth testing at the Southern Copper discovery.

Tectonic has also had extensive additional work completed on validating and targeting the feeder at Main Lodes. The blind porphyry discovery has been confirmed and will be the focus after drilling Southern Copper.

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
Brett Boynton
Sam Quinn
www.tectonicgold.com.
@tectonic_gold

+61 2 9241 7665

Financial Adviser, Corporate Adviser and Broker
VSA Capital Limited
Andrew Raca – Corporate Finance
Andrew Monk – Corporate Broking

+44 20 3005 5000

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.

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