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Tectonic Gold Plc - Exploration update from Specimen Hill

·7-min read

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.

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
MGA94 z56

Northing
MGA94 z56

RL
(AHD)

AZI
(MAG)

Dip

Total Depth (m)

SHRC17

270,816

7,321,726

547

055

-66

104

SHRC20

270,999

7,321,843

552

214

-70

150

SHRC22

271,950

7,321,675

582

144

-70

200

SHRC24

270,563

7,321,441

560

105

-65

104

SHRC27

271,024

7,321,934

552

190

-70

100

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
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.