(“Tectonic Gold” or the “Company”)
Drilling update from
- First hole (SHRC17) completed for 103 meters
- Visual gold bearing mineralisation intersected from surface (assays pending)
- Gold bearing porphyry mineralisation also intersected within the intrusives at depth as targeted
- Second hole underway with rig stepped back and pivoted 180deg to test true width of mineralisation at depth
After some rain delays at the start of the month, the Tectonic Gold field team was able to mobilise equipment on site last week. After proper induction and safety procedures they were able to set up the drilling rig on the first pad over the weekend. The first hole in the campaign was completed on 17 November. SHRC17 was targeting a continuation of tested and proven surface mineralisation at depth and has been an immediate technical success intersecting gold bearing sulphides down to over 100m.
The drilling campaign at Specimen Hill is starting with follow-up testing of the 3km long
A selection of the sample material has been sent to the laboratories for a rapid turnaround broad chemical suite assay. This will provide copper and gold grades as well as a host of information to assist with targeting the remainder of the campaign.
Surface assaying last month returned proven high grade gold, copper and silver mineralisation at Andrews Gulley:
- Sample 30426 : 3.23g.t Au and 45.5g.t Ag
- Sample 30427 : 3.88g.t Au and 39.5g.t Ag
Sample 30427 also returned over 2.5% Copper.
All of this is as expected and consistent with previous testing of the Specimen Hill Intrusive Related Gold System.
About the Specimen Hill Prospect:
Specimen Hill has historically 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 Gold 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.
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
“This is a great start to the campaign. Intersecting mineralisation as expected on this first hole maintains our 100% success record in drill targeting. This again validates all of the continuous efforts over the years in research and development on Intrusive Related Gold System exploration. This is going to be an exciting few weeks.”
The Directors of the Company accept responsibility for the contents of this announcement.
For further information, please contact:
|+61 2 9241 7665|
Financial Adviser, Corporate Adviser and Broker
VSA Capital Limited +44 20 3005 5004
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