Tectonic Gold Plc - Mount Cassidy IRGS Research Results PR Newswire

22 February 2019


(“Tectonic Gold” or the “Company”)

Mount Cassidy IRGS confirmed with CODES Research program

Tectonic Gold plc (TDIM: TTAU), the Intrusive Related Gold System (“IRGS”) exploration pioneer, is pleased to announce that the collaborative research project run in consultation with the Centre of Ore Deposit Excellence Studies “CODES” on its Mount Cassidy Prospect has been published and reviewed. The study confirmed the IRGS nature of the magmatic hydrothermal system which is the source of the gold discovery at Mount Cassidy.


    --  Successful research result under to the Company’s Australian Federal
        Government supported IRGS research and development program

    --  Shear system at Mount Cassidy hosting 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 Mount Cassidy:

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 Mount Cassidy that has been overprinted by a large scale riedel shear system. There is dilational gold enrichment in structures with gold grades of over 30g/t assayed.

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:

The Mount Cassidy prospect is located near Tectonic Gold’s flagship Specimen Hill project, approximately 50km NW of the regional centre of Rockhampton, Queensland Australia.

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 Mount Cassidy has confirmed classic porphyry style potassic and phyllic alteration over a large area that has been overprinted by gold bearing fluids emanating from a regional reidel-style shear system that cross-cuts the prospect.

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 Eastern Australia, a prolific gold region that is home to Australia’s two largest gold production companies, Newcrest Mining and Evolution Mining.

At the beginning of 2019 Tectonic reached agreement with VAST Minerals Sands Pty Ltd (“VAST”) to farm in to a 50% economic interest in VAST’s diamond concession on the South African Government’s Alexkor diamond mine. Tectonic plans to utilise cash flows from this project to fund further exploration and development of the Company’s gold portfolio.

All gold assets, namely the Biloela, Clermont and Mount Cassidy Projects in Queensland are 100% owned and operated by Tectonic Gold.

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.

Mr. Brett Boynton, Managing Director – Tectonic Gold Plc

“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 Mount Cassidy are to repeat the process that has given us success at Specimen Hill and drill some additional holes later in the year.

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.

Qualified Persons:

Mr Jonathan Robbeson – BSc (Hons1), MEconGeol, MMinEng, (CP Geo) is a full time employee of the Company’s wholly owned subsidiary, 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 and the 2012 Edition of the ‘Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (JORC Code).

Mr James Yaxley – BSc, is a full time employee of Signature Gold Limited and is a member of the member of the Australian Institute of Geoscientists (AIG) and the International Association of Hydrogeologists (IAH). Mr Yaxley has sufficient relevant professional experience in mineralisation and deposit styles within the Company’s tenure. Mr Yaxley qualifies as a Competent Person as defined in the Note for Mining Oil & Gas Companies, June 2009, of the and the 2012 Edition of the ‘Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (JORC Code).

Mr Robbeson and Mr Yaxley consent to the inclusion in the release of the matters based on their information in the form and context in which it appears.

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 Quinn

NEX Exchange Corporate Adviser and Broker
Peterhouse Capital Limited                +44 20 7469 0930
Mark Anwyl

Financial 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 Regulatory Information Service, this inside information is now considered to be in the public domain.