(“Tectonic Gold” or the “Company”)
Mount Cassidy IRGS confirmed with
-- Successful research result under to the Company’s Australian Federal Government supported IRGS research and development program -- Shear system at
Mount Cassidyhosting dilational gold enrichment -- + 30g/t gold grades confirmed from rock chip samples -- Follow up deep penetrating geophysical mapping planned to provide final drill targeting on the system
The year-long research study has confirmed the existence of a complex interaction of two styles of mineralisation at
1. Pre-deformation; stratabound VHMS Copper and Zinc, Gold, Silver mineralisation
2. Post Deformational; Epizonal to Epithermal IRGS Gold, Silver mineralisation
The successful collaborative research study between CODES and Tectonic Gold has confirmed a magmatic hydrothermal system at
The success of the targeting study validates Tectonic Gold’s ongoing research program into utilising new technologies to identify and delineate Intrusive Related Gold Systems. A deep penetrating 3DIP survey utilising the same Canadian DIAS 3DIP technology that successfully identified targets for drilling at the Company’s Specimen Hill project is being planned for final drill targeting with drill testing to follow.
About the Mount Cassidy Prospect:
A large ovoid 4km2 magmatic hydrothermal IRGS system, confirmed from mineral chemistry and geophysical research, has been further assessed through a collaborative research project between CODES and Tectonic Gold.
Gold bearing veins emanating within this porphyry system have been historically mined with grades of 15g/t Au recorded from selective mining.
Geological mapping of the hydrothermal system at
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 New England Orogen in
At the beginning of 2019 Tectonic reached agreement with
All gold assets, namely the Biloela, Clermont and Mount Cassidy Projects in
Funds will be allocated to progressing the Mt Cassidy prospect during the 2019 calendar year with some diamond drilling currently being planned to be undertaken at the Prospect under its existing drill for equity deal with Titeline Drilling. 7,500m of diamond drilling remains available on a 50% cash payment basis under this agreement.
“Mount Cassidy is proving up to be a very promising follow on project to Specimen Hill. We are fortunate to have two high quality assets in the portfolio and working across both of them has enabled us to make some key technical breakthroughs.
The next steps at
Subject to the cash flows from our diamond partnership, we plan to test some key areas with drilling in the second half.”
We have shared a selection of images on the website at www.tectonicgold.com and on Twitter @tectonic_gold.
Table 1 information required for the reporting of Exploration Results, Mineral Resources and Ore Reserves’ in accordance with the guidelines of the ‘JORC Code’ can be found on the Company’s website for the Mount Cassidy Prospect.
The Directors of the Company accept responsibility for the contents of this announcement.
For further information, please contact:
Tectonic Gold plc+61 2 9241 7665 Brett Boynton Sam Quinnwww.tectonicgold.com. @tectonic_gold NEX Exchange Corporate Adviser and Broker Peterhouse Capital Limited+44 20 7469 0930 Mark AnwylFinancial Adviser and Broker VSA Capital Limited+44 20 3005 5004 Andrew Raca– Corporate Finance Andrew Monk– Corporate Broking
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