(“Tectonic Gold” or the “Company”)
Drilling update from
-- Successful start to campaign with four holes recovering over 820m of core already completed. -- Sulphide mineralisation intersected from close to surface in the first three holes, confirming historic testing in the epithermal zone of the gold system. -- The fist step out hole, approximately 250m south along the structure, similarly showed sulphide mineralisation and strong alteration. -- Recovered core shows typical IRGS disseminated and veiniform Pyrite, Pyrrhotite, Arsenopyrite, Chalcopyrite and other base metals confirming the exploration thesis. -- The SAM survey coupled with strong, large IP anomalies identified by the 3D IP show potential for Specimen Hill to host a large scale Intrusive Related Gold System. -- Early results validate the prediction from the Sub Audio Magnetic (SAM) survey and 3D induce Polarisation mapping that this system is significantly larger than previously recognised. -- Recent surface rock samples assaying up to +40g/t Au confirm high grade.potential from historic records of selective mining. -- Hole five is another step out, approximately 250m along strike away from the initial three holes and will again test the extension of the epithermal structure identified by the SAM survey on the other side of hole four. -- Drilling will then move to the porphyry targets identified by the
March 20183D Induced Polarisation (3D IP) survey. These targets are presenting from approximately 250m depth. -- Drilling expected to complete in 30 days -- Gold assays will be completed in batches and will be released once validated.
The first four holes of the ten-hole program have been completed with over 820m of core now recovered. Drilling is continuing at a very good pace with the Titeline crew delivering excellent core recovery. Sulphide mineralisation has been intersected from surface, confirming geochemical and geophysical targeting completed earlier in the year.
The drilling program has been designed to test both the extensions of the known epithermal mineralisation mapped in Sub Audio Magnetic (SAM) surveying and four newly identified porphyry targets within the system. The porphyry targets are predicted to be the feeders of the gold at surface. Targets are the result of a world first application in IRGS of DIAS 3D Induced Polarisation surveying technology. This is a technology adapted from the oil and gas exploration industry and brought from
About the Specimen Hill Prospect:
The Specimen Hill Prospect is located within the
The Prospect has strongly developed high sulphidation (HS) epithermal copper-gold mineralisation veins mapped over a strike of more than 1,500m and is locally overprinted by intermediate sulphidation (IS) epithermal mineralisation that has high gold grades (up to 40g/t Au from historic mining records and recent assays) which upgrades the gold tenor of this system.
An alteration envelope surrounding the HS veins has moderate gold grades effectively contributing to a 3-10m wide combined moderate to locally high grade tenor to the mineralisation within an alteration envelope of up to 100m width.
The epithermal mineralisation is interpreted to be sourced from fluids emanating from a buried porphyry intrusive complex and modelled at depths of approximately 250m below surface. Confirming the porphyry Au-Cu mineralisation within this body and validating the intrusive gold system exploration methodology developed by the Tectonic team is a prime target in this drill testing program.
Photographs of the drilling activity are available on the Company’s website at http://www.tectonicgold.com/site/projects1/specimen-hill-mt-rainbow.
About the Drilling Campaign Plan:
The initial drill program consisting some 2,580m of HQ3 diamond coring is being completed with a UDR 650 diamond drilling rig by our investor/partner
Specimen Hill Phase 1 Diamond Drilling Program Hole Name Completed Dip Bearing Planned Easting_MGA94 Northing_MGA94 RL (AHD) (Yes / (Magnetic) Depth 56z 56z No) SHDD07 Yes -60 324 150 271,980 7,322,198 571.8 SHDD08 Yes -75 289 220 271,980 7,322,195 571.8 SHDD09 Yes -70 119 110 271,980 7,322,198 571.8 SHDD10 Yes -60 339 320 271,680 7,321,930 578.5 SHDD11 Drilling -60 244 200 272,042 7,322,208 561.8 SHDD12 No -70 244 250 272,100 7,322,450 575.0 SHDD13 No -70 324 150 272,217 7,322,570 566.9 SHDD14 No -65 259 480 272,280 7,321,950 611.2 SHDD15 No -70 54 480 272,358 7,321,220 478.0 SHDD16 No -60 144 250 271,950 7,321,675 582.0
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 assets. Tectonic Gold holds a number of gold discoveries in the Lachlan Fold Belt in
Tectonic Gold’s portfolio includes the outright licences for seven tenements covering over 850km² in and adjacent to the New England Orogen in
“We have had an excellent start to the program with confirmation of the targeted mineralised sulphides at Specimen Hill both in the previously tested zone and in the step out target. It was very important to see mineralisation and strong alteration in the first step out hole. This confirms the prediction from our SAM program, that Specimen Hill is a much larger system than previously recognised and supports our work in utilising advanced geophysics to cost effectively map out Intrusive Related Gold System discoveries. Fingers are crossed for the assay results and we are hoping to see continuity of grade now that we have hard evidence that hot mineralising fluids have moved extensively through the system and well beyond the original discovery zone. We will complete drilling on the epithermal component of the system and send that batch for assaying while we move on to the deeper porphyry targets. Drilling is expected to continue for another 30 days.”
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. 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