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Tectonic Gold Plc - Remobilisation drilling update

·6-min read

6 October 2021

TECTONIC GOLD PLC
(“Tectonic Gold” or the “Company”)

Remobilisation drilling update

Tectonic Gold plc (TDIM: TTAU), the Intrusive Related Gold System (“IRGS”) explorer, has remobilised the technical team for a ten-day follow-up campaign up with diamond drilling at Specimen Hill, in Queensland, Australia.

Highlights:

  • 250m deep step-back hole along strike from the September 2021 discovery confirmation hole at the Southern Copper currently being drilled

  • 300m diamond core at Goldsmith’s Reef planned, to intersect bullseye geophysical target below high-grade workings following two successful holes in September 2021

  • Drill programme extended to deeper drilling to test for selective high grade or large-scale bulk underground mining targets to complement existing near surface mineralisation with open pit copper-gold potential

  • Southern Copper discovery confirmation again proving the efficiency of Tectonic’s Australian Federal Government supported research into IRGS

Mr. Brett Boynton, Managing Director – Tectonic Gold Plc

“Testing at Specimen Hill has proven up a series of discoveries strung together with mineralisation identified at surface, verified by drilling as continuing at depth. The open pit potential from surface and near surface ores to generate early cash flows can provide the means to internally fund underground development for long life, deeper, bulk mines. This multiple open pit and underground mine combination, feeding a single ore processing plant, is very appealing to major mining companies. It is what we see at Newcrest’s flagship Cadia copper-gold complex to the south and is typical of what other gold and copper international majors look for.”

Background to Deeper Drilling at Southern Copper Project

The 4km+ long mineralised belt running from Main Lodes to Southern Copper has produced a series of copper-gold discoveries for Tectonic. These have been verified and the belt again extended in recent drilling. With the early success of the September 2021 campaign, the company has decided to immediately remobilise with a diamond rig to drill a deeper hole along strike at the Southern Copper discovery and core below the high-grade workings at Goldsmith’s Reef. A bullseye geophysical target has been identified here as a potential feeder to the high-grade gold intersected at and near surface.

The Specimen Hill project suite has delivered numerous discoveries, proving the efficiency of Tectonic’s Australian Federal Government supported research into Intrusive Related Gold Systems and how to utilise digital technologies to identify and delineate targets. These large-scale multi-target systems are often beyond the means of junior exploration companies to tackle, but Tectonic has pioneered and utilised advanced remote sensing technologies and innovative methodologies to cost effectively progress these exploration assets. This has been augmented with highly targeted drilling over the last three years, that has significantly extended the verified mineralisation at and near surface within this large-scale copper-gold system. Tectonic is now extending to deeper drilling to test for selective high grade or large-scale bulk underground mining prospects to enhance the package as we seek development partners.

About Specimen Hill:

Specimen Hill has produced over 8,000ozs of gold from historic small-scale surface mining dating back to pre-World War I, with grades reported up to 40g/t Au.

Tectonic Gold has identified a large Intrusive Related Gold System (IRGS) manifesting as a ~4km+ long mineralised corridor at Specimen Hill and has identified the possibility of a much larger system under cover. Gold, copper and silver mineralisation within the known ~4km+ corridor manifests itself at and 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 targeting 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).

Sampling by Tectonic over the surrounding area of ~18 km2 have returned grades with consistently elevated Gold, Copper and Silver.

During the 2019 drilling campaign, Tectonic completed 2,517m over a ten-hole diamond 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 follow up 2020 and 2021 programs intersected gold mineralisation of up to 16g/t gold at depths to over 100m. It was identified that copper grades also increased with depth. To date over 8,000m has been drilled at Specimen Hill confirming multiple discoveries. This is a precursor to establishing a JORC compliant resource.

A summary of the key areas of interest within the Specimen Hill suite is below:

Prospect Name

Surface Mapping

Surface Sampling

Drilling

Specimen Hill North

Yes – Alteration and Mineralisation

Yes, grades up 3 g/t Au

Yes, grades up to 3 g/t Au at depth

Specimen Hill Southeast

Yes – Alteration and Mineralisation

Yes, grades up 4 g/t Au

Yes, grades up to 7 g/t Au at depth

The Wedge

Yes – Alteration and Mineralisation

Yes, grades up 3 g/t Au

Yes, grades up to 11 g/t Au at depth

Cameron’s Lookout / Andrews Gully

Yes – Alteration and Mineralisation

Yes, grades up 9 g/t Au

Yes, grades up to 16 g/t Au at depth

Main Lodes

Yes – Alteration and Mineralisation

Yes, grades up 8 g/t Au

Yes, grades up to 35 g/t Au at depth
Porphyry retested and confimed

Goldsmith’s Reef

Yes – Alteration and Mineralisation

Yes, and underground workings face samples >5g/t Au

Mineralisation intersected – returning to drill diamond

Southern Copper

Yes – Alteration and Mineralisation

Yes, grades up 8 g/t Au and 16% Cu

Drilled and returned 2 x 20-30m mineralized intersections with native copper
Immediate follow up hole under way

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 for this RNS is located on the Tectonic Gold plc website.

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 +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.

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