Tectonic Gold Plc Mount Cassidy and Specimen Hill Project Drilling Update

 
TIDMTTAU 
 
18 January 2021 
 
                              TECTONIC GOLD PLC 
 
                      ("Tectonic Gold" or the "Company") 
 
           MOUNT CASSIDY AND SPECIMEN HILL PROJECT DRILLING UPDATE 
 
Tectonic Gold plc (TDIM: TTAU), the Intrusive Related Gold System ("IRGS") 
 explorer, is pleased to announce further exploration progress at the Mount 
Cassidy project and samples from the December 2020 Specimen Hill campaign now 
in analysis. 
 
Mount Cassidy Highlights: 
 
  * Mt Cassidy is a textbook IRGS which has been overlooked 
    by previous explorers 
 
  * Tectonic utilised advanced geochemistry and geophysics technology to 
    identify the system undercover 
 
  * Previous surface samples returned assays of +50g/t Au. 
 
  * Tectonic initiated a ten-hole drilling program on 12 January 2021 
 
  * 3 holes have been completed with sulphides intersected in all holes 
 
Specimen Hill Update: 
 
  * +1,250 drill samples have been prepared and are in the lab for low cost 
    XRF pre screening 
 
  * Drilling will recommence at Southern Copper on the western end of the 
    strike after the Mt Cassidy program currently in progress has been 
    completed. 
 
Mr. Brett Boynton, Managing Director - Tectonic Gold Plc 
 
"The field team is now well into the Mt Cassidy campaign with the first three 
holes of a 1,500m, ten-hole,  program completed. This is 
Tectonic's maiden drilling at Mt Cassidy and we are pleased to have intersected 
sulphide mineralisation containing chalcopyrite in all three holes. We know 
from previous geochemical testing that gold at Mt Cassidy is genetically 
associated with pyrite so we are in the right part of the system to intersect 
gold at grade and we have seen some excellent grades here, up to +50g/t gold, 
in the past. We will have samples off to the labs shortly, but this is an 
immediate technical success for our targeting once again. 
 
Mt Cassidy is a very interesting project as we are "on top" of the system. By 
this we mean that erosion has not brought us into and exposed the system, so 
the surface footprint of the gold was large, but quite light. As a result, past 
explorers noted "sniffs" of gold at surface but couldn't string these disparate 
surface showings together. By utilising our IRGS expertise, Tectonic recognised 
that we need to rethink the exploration approach to chase a "blind" 
or undercover system. Utilising a range of new technologies and an 
extensive field exploration effort over many years we have constructed a big 
data approach. Taking a large number of data points from a range of sampling 
techniques and comparing the resulting model to similar IRGS deposits we have 
been able to put together a high conviction target despite it being mostly 
"blind". We now know that several disparate surface expressions of gold 
are actually the fingers of a single large system reaching up though the 
earth's crust. Instead of waiting another few million years for erosion 
to strip the cover and expose this system more broadly, we have been able to 
use technology to cost effectively look through this cover and delineate a high 
conviction target. Developing new technologies is the key to a small group like 
Tectonic being able to change the economics of exploration and 
tackle these targets. This is a real game changer for us and gives Tectonic a 
very strong second asset in the portfolio. 
 
Several shareholders have asked again about Southern Copper. This is the 
discovery at the western end of the 4km long strike from Specimen Hill. See the 
map we have shared on the Tectonic website at: 
 
http://www.tectonicgold.com/site/PDF/8effb993-6049-4f39-8a0c-146055ef6767/ 
20210112SpecimenHill4kmStrike 
 
We will take the drilling team back to Specimen Hill after Mt Cassidy 
and begin working this western end, from Southern Copper, moving east, to 
confirm more of that strike at depth. We are specifically tackling this in 
sections so that we have time to analyse results and sharpen our thinking as we 
move through the system. Logging all the drilling from December 
and capturing the lab results has given us a mountain of information to add 
to our digital database. As a result we are now in a much better position to 
tackle Southern Copper and then we will look to fill in the gap in the middle. 
Ultimately we will have the entire corridor mapped at surface and tested at 
depth so we can work up initial resource numbers for the project." 
 
About the Mount Cassidy Prospect: 
 
The?Mount Cassidy?prospect is located near Tectonic Gold's flagship Specimen 
Hill project and is close to the regional centre of Rockhampton,?Queensland 
Australia. 
 
The prospect is located within the Mount Morgan Tectonic Domain and within the 
same age rock sequence as the large and proximal Mount Morgan copper gold mine 
(+8Moz). The area was last mined in the early 1900's. 
 
Mount Cassidy mine workings are located on a regional scale north-south 
trending brecciated and silicified reidel shear zone that flanks a large, 
unexplored ovoid (4km2) magmatic hydrothermal IRGS system. This tending shear 
zone has been mapped over a strike length of more than 1km and hosts an 
epithermal quartz-pyrite system that is closely associated with gold 
mineralisation. Exploration campaigns by Tectonic over the area in the last two 
years have resulted in grades up to 50g/t Au from surface rock chip sampling 
from within two major gold bearing quartz vein systems. 
 
Geological mapping of the hydrothermal system at?Mount Cassidy?has confirmed 
classic porphyry style potassic and phyllic alteration assemblages over a large 
area that appears to have been enriched by gold bearing fluids from a proximal 
intrusive body. 
 
The north-south trending shear zone is assumed to have provided the plumbing 
required for the passage of gold bearing fluids into the system. 
 
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 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 understands that this is a gold-copper 
porphyry co-incident with a high-temperature magnetite rich core (identified at 
Specimen Hill and Southern Copper 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. 
 
Tectonic completed a second drilling campaign at Specimen Hill in December 
2020. All holes have intersected mineralization at depths to over 100m from 
surface, validating the continuity of both geology and grade observed at 
surface. Tectonic will recommence drilling at the Western end of the corridor 
on the Southern Copper discovery once drilling at Mt Cassidy has been 
completed. 
 
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.  More recently, EMR Capital has purchased the Ravenswood 
project from Resolute Mining which sits along strike from Tectonic Gold's Mount 
Cassidy and Specimen Hill Projects. 
 
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 release can be found on the Company website. 
 
The Directors of the Company accept responsibility for the contents of this 
announcement. 
 
For further information, please contact: 
 
 
Tectonic Gold plc 
                                       [phone] 
Brett Boynton 
Sam Quinn 
www.tectonicgold.com. 
@tectonic_gold 
 
 
 
 
 
 
VSA Capital Limited 
 
Financial Adviser, AQSE Corporate Adviser and Broker  [phone]??? 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

January 18, 2021 02:01 ET (07:01 GMT)