Tectonic Drills 12.45 G/T AU Over 5.15 METRES in Phase I Drill Program at Tibbs Gold Project, Alaska
Tectonic Drills 12.45 G/T AU Over 5.15 METRES in Phase I Drill Program
at Tibbs Gold Project, Alaska
VANCOUVER, BC
,
Oct. 25, 2021
/CNW/ -
Tectonic Metals Inc.
(TSXV: TECT) (OTCQB: TETOF) (FSE: T15B) (the "Company" or "Tectonic") today
announced Phase I drill results from the first seven diamond drill holes comprising a total of
803m
of drilling from the Company's 2021 campaign at the Tibbs
Gold Project ("Tibbs"), located less than 35 kilometers ("km") from Northern Star Resources' (ASX: NST) Pogo Gold Mine ("Pogo"). Drill results include
highlight intercepts containing visible gold and returning
7.69 grams per tonne gold ("g/t Au") over 6.12 metres ("m"), including 33.92 g/t Au over
1.22m
and 12.45 g/t Au over
5.15m
, including 41.39 g/t Au over
1.26m
.
Assay results are pending from an additional 23 drill holes from the second phase of
diamond and reverse circulation ("RC") drilling comprising an additional
4,215m
. Tectonic drilled a total of
5,018m
, both RC and oriented diamond, during the
2021 season.
Highlights and Key Takeaways
Tectonic's maiden oriented core diamond drilling successfully intersected high-grade gold mineralization at two key mineralized zones at Tibbs: Gray
Lead and
Michigan
.
Oriented core diamond drilling at Gray Lead intersected high-grade Pogo-style quartz-pyrite-arsenopyrite veining with visible gold:
12.45 g/t Au over
5.15m
, including 41.39 g/t Au over
1.26m
(TBDD21-007)
5.67 g/t Au over
6.89m
, including 12.3 g/t Au over
1.89m
(TBDD21-006)
Structural measurements and analysis of high-grade intervals identified a previously unknown northwest plunge to the high-grade core of the Gray
Lead vein system, which remains untested
The Gray Lead Zone is open in all directions and at present contains
250m
of mineralized strike to a depth of
120m
vertical
Oriented core diamond drilling in the heart of the
Michigan
structure successfully intersects high-grade gold hosted by discrete quartz-stibnite-pyrite-
arsenopyrite veins with visible gold:
7.69 g/t Au over
6.12m
, including 33.92 g/t Au over
1.22m
(TBDD21-001)
1.81 g/t Au over
5.00m
(TBDD21-002)
Structural measurements and analysis indicate an east-west orientation for high-grade, visible gold-bearing quartz veins, within a broad northeast-
trending damage zone
The Michigan Zone is open in all directions and at present contains 275 metres of mineralized strike to a vertical depth of
250m
Assays have only been received for seven oriented core diamond holes completed in Phase I and reported herein for a total of
803m
of drilling.
Assay results are pending for the 23 drill hole (
4,215m
) exploratory component of the 2021 program, which was informed by the Company's 2021 TITAN
geophysical survey, the comprehensive geological knowledge gained from the initial diamond drilling reported in this news release, and the new 2021
high-grade gold rock sampling from
Tibbs South
.
Maps, cross sections, and drill assay sheets associated with this news release can be viewed by clicking
here
.
Tony Reda
, President and CEO, commented,
"
Our Phase I diamond drilling program at Tibbs targeted some of the highest tenor gold anomalies in the
Goodpaster Mining District of
Alaska
, obtaining the first ever oriented drill core from Tibbs and successfully intersecting multiple intervals of visible gold in
quartz veining at Michigan as well as Pogo-style quartz veining at Gray Lead. Tectonic's diamond drilling campaign identified previously unknown controls
on high-grade mineralization, with an east-west vein trend revealed within the core of
Michigan
, and a previously unrecognized plunge to the northwest
within the high-grade core of the Gray Lead vein. We now eagerly await our Phase II drill results, the bulk of our exploration program, which predominantly
tested new gold-in-soil and rock anomalies that have high potential for discovery."
Figure 1: Visible gold (circled in white) at the margin of a massive quartz-stibnite vein in hole TBDD21-001 at 82.9m down hole (CNW Group/Tectonic Metals
Inc.)
Figure 1: Visible gold (circled in white) at the margin of a massive quartz-stibnite vein in hole TBDD21-001 at
82.9m
down hole
Table 1: Highlight drill intercepts from Phase I oriented core diamond drilling at the Tibbs Project (TBDD21-001 to TBDD21-007).
Hole ID
Zone
From (m)
To (m)
Width (m)*
Grade (g/t Au)
TBDD21-001
Michigan
78
84.12
6.12
7.69
inc.
82.9
84.12
1.22
33.92
TBDD21-001
Michigan
121
129
8
1.07
TBDD21-002
Michigan
23
27
4
1.21
TBDD21-002
Michigan
131
136
5
1.81
TBDD21-002
Michigan
163
167
4
1.09
TBDD21-005**
Gray Lead
37.64
40
2.36
5.88
TBDD21-005
Gray Lead
50
54
4
3.65
TBDD21-006
Gray Lead
21
27.89
6.89
5.67
inc.
23.16
25.05
1.89
12.3
TBDD21-007
Gray Lead
19.23
24.38
5.15
12.45
inc.
21.14
22.4
1.26
41.39
*True widths are not known at this time. All widths reported are drilled widths. Results are reported with at 0.200 g/t Au cut off with a maximum of 1m of internal dilution. No top cap was applied.
** A 1.83m void was encountered immediately prior to the reported intercept. The void is believed to represent historically mined-out vein material.
A table of drill results from Tectonic's 2021 Phase I diamond drilling can be viewed by clicking
here.
Phase I Drilling – Gray Lead and
Michigan
The objective of the first phase of the 2021 diamond drilling campaign at Tibbs was to obtain the first-ever oriented drill core from the project to determine the
orientation of structures controlling high-grade gold at the Gray Lead and Michigan Zones.
Gray Lead Zone
The Gray Lead Zone was initially drilled in 1998 by the Stone Boy Joint Venture, which discovered the Pogo Gold Mine in 1994. A 2-
4m
thick quartz vein
identical to the Liese Zone at Pogo was intersected at Gray Lead, though the vein was "high-angle" and dipped moderately to steeply to the west, rather than
the low-angle dip of veins initially observed at Pogo. Today, both sets of veins have been mined at Pogo and the Pogo geological model has been updated to
reflect this (
See Pogo Model
here
). The Gray Lead vein is one of the best examples of "Pogo-style" vein mineralization in the Goodpaster Mining District,
which hosts the high-grade gold Pogo Mine. The Gray Lead Zone is open in all directions and at present contains
250m
of mineralized strike to a depth of
only
120m
vertical. Tectonic is the first company to apply the updated Pogo geological model to Tibbs.
Four oriented core diamond drill holes were completed at the Gray Lead Zone during the first phase of 2021 drilling for a total of
251.76m
. Drill holes
TBDD21-005, TBDD21-006, and TBDD21-007 were drilled from a single setup in the centre of the target, infilling historical drilling completed by a previous
operator with the goal of obtaining structural control on the zone, validating the historical data and obtaining the plunge and dip of the zone for future
expansion drilling. These oriented drill holes were drilled with the goal of validating the historical drilling and determining the structural controls, plunge and dip
of the high-grade core of the Pogo-style Gray Lead vein for future expansion drilling and details of the host stratigraphy for application in the second phase of
2021 exploratory drilling targeting analogues in the western, gneissic domains of the Property. All three drill holes successfully intersected the Gray Lead
vein, with a highlight result of
12.45 g/t Au over
5.15m
including 41.39 g/t Au over
1.26m
in hole TBDD21-007. Within the quartz vein interval in hole
TBDD21-007, a successful core orientation allowed for measurement of the internal fabric of the vein as defined by sulphide banding, which indicates a
potential oblique plunge of high-grade mineralization within the vein.
Hole TBDD21-005 encountered a
1.83m
void in the position of the projected intersection of the main Gray Lead vein suspected to be historical underground
workings; as such, only the footwall vein was intersected. Hole TBDD21-004 tested the Oscar/Hilltop target, where 2019 drilling returned 2.35 g/t Au over
6.1m
, one of the potential splays off the Gray Lead Zone and intersected low gold values associated with disseminated pyrite and arsenopyrite within
strongly sericite altered granodiorite.
Michigan Zone
The Michigan Zone consists of a broad, northeast-trending structural corridor within granodiorite. Known high-grade rock grab samples (up to 989.6 g/t Au)
define discrete high-grade quartz veins along the margin of the corridor, though the heart of the system was not tested prior to 2019 when Tectonic began
exploring the target. Broad intervals of mineralization characterized by disseminated stibnite and pyrite within sericite-altered granodiorite are cut by discrete
high-grade quartz veining. No structural control on the veining was previously known, as all drilling was either rotary air blast ("RAB") or non-oriented diamond
drill core.
Oriented diamond drilling in 2021 by Tectonic at
Michigan
consisted of three holes for
551.84m
. Holes TBDD21-001 and TBDD21-002 tested the heart of the
Michigan
structure by drilling at dips of -60 and -55 degrees, respectively, to an azimuth of 170 degrees to best cut interpreted northeast and east-northeast
trending features. Both holes intersected intervals of discrete quartz-stibnite-pyrite-arsenopyrite veining with visible gold hosted by strongly sericitized
granodiorite with 1-5% disseminated stibnite, carrying lower-tenor gold values. Intervals of quartz veining with visible gold were successfully measured to
trend approximately east-west with near-vertical dips, indicating an internal control on mineralization not previously recognized.
Michigan
remains open in all
directions with
275m
of drilled mineralized strike to a depth of
250m
vertical.
Hole TBDD21-003 stepped
115m
west-southwest off the core
Michigan
trend to test a geophysical anomaly. A high-angle, sericite altered fault structure
cutting granodiorite with strong bleaching and minor disseminated stibnite was intersected, though gold values were insignificant.
Next Steps: Phase II Discovery Drilling and Upcoming Results
Tectonic's Phase II discovery diamond drilling campaign focused on testing new, untested ground in the western region of the Tibbs Property at the
Wolverine, West Trench, Johnson Saddle, Galosh, and Gray Lead West targets. A total of 23 drill holes for
4,215m
were completed in the Phase II program
(5 diamond holes for
1,516m
, 18 RC holes for
1,699m
). The program was designed to test possible low-angle structures identified by the mid-summer TITAN
DCIP/MT geophysical survey in highly prospective gneissic rocks. The Phase II program is now complete, with a total of
5,018m
drilled during the 2021
season. Assays for the remaining
4,215m
of drilling (84% of 2021 program) are pending.
Qualified Person & QA/QC
Tectonic's disclosure of a technical or scientific nature in this press release has been reviewed, verified and approved by
Eric Buitenhuis
, M.Sc., P.Geo.,
Tectonic's Vice President Exploration, who serves as a Qualified Person under the definition of National Instrument 43-101.
The analytical work for the 2021 rock sampling program was performed by Bureau Veritas Laboratories ("BV"), an internationally recognized and accredited
analytical services provider, which is independent of Tectonic. All diamond core samples were cut in-field using a core saw and submitted to BV's
Fairbanks,
Alaska
facility where they were prepared using procedure PRP70-250 (crush, split, and pulverize 250g to 200 mesh). Pulp samples were then sent to
Reno,
Nevada
and
Hermosillo, Mexico
, where they underwent analysis for gold by method FA430, a 30-gram Fire Assay fusion with an atomic absorption finish
(AAS). Samples returning >10 g/t Au were re-analyzed using method FA530-Au, a 30g Fire Assay with gravimetric finish. Additionally, a 0.25g pulp was sent
to the
Vancouver, British Columbia
lab for a four acid Inductively Coupled Plasma Emission Spectrometer (ICP-ES) analysis for 35 elements using method
MA300. Select high-grade gold samples were analyzed using a metallic screen fire assay by method FS652-1Kg, with a 1kg split screened to 106 um and
the plus and minus fractions analysed for gold by a 50g fire assay with a gravimetric finish.
Quality Assurance and Quality Control procedures include the insertion of coarse blanks, certified assay standards, and quarter core duplicate samples into
the sample string at a rate of approximately 1/10 (10%). Samples are placed in sealed, and security tagged bags and shipped directly to the BV preparation
facility in
Fairbanks, Alaska
.
About Tectonic
Tectonic Metals Inc. is a mineral exploration company created and operated by an experienced and well-respected technical and financial team with a track
record of wealth creation for shareholders. Key members of the Tectonic team were involved with Kaminak Gold Corporation, the Company that raised
C$165 million
to fund the acquisition, discovery and advancement of the Coffee Gold Project in the
Yukon Territory
through to the completion of a bankable
feasibility study before selling the multi-million-ounce gold project to Goldcorp Inc. (now Newmont) for
C$520 million
in 2016. Tectonic is focused on the
acquisition, exploration, discovery and development of mineral resources from district-scale projects in politically stable jurisdictions that have the potential to
host world-class orebodies.
To learn more about Tectonic please click
here
.
On behalf of Tectonic Metals Inc.,
Tony Reda
President and Chief Executive Officer
For further information about Tectonic Metals Inc. or this news release, please visit our website at
www.tectonicmetals.com
or contact
Tony Reda
, President
& CEO of Tectonic, or
Bill Stormont
, Investor Relations, at toll-free 1.888.685.8558 or by email at
.
Facebook:
https://www.facebook.com/TectonicMetals/
Twitter:
https://twitter.com/TectonicMetals
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https://www.instagram.com/tectonicmetals/
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https://www.linkedin.com/company/tectonic-metals
Cautionary Note Regarding Forward-Looking Statements and Historical Information
Certain information in this news release constitutes forward-looking information and statements under applicable securities law. Any statements that are
contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are
often identified by terms such as "may", "should", "anticipate", "expect", "intend" and similar expressions and include, but are not limited to, statements with
respect to: the payment of finder's fee and issuance of Finder's Warrants; the exercise of the Finders' Warrants in accordance with their terms; and the
receipt of any regulatory approvals, including the final approval of the TSXV.
Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the
date the statements are made including, among others, assumptions about future prices of gold and other metal prices, currency exchange rates and
interest rates, favourable operating conditions, political stability, obtaining governmental and other approvals and financing on time, obtaining required
licenses and permits, labour stability, stability in market conditions, availability of equipment, accuracy of any mineral resources, successful resolution of
disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Tectonic, and there
is no assurance they will prove to be correct.
Although Tectonic considers these beliefs and assumptions to be reasonable based on information currently available to it, they may prove to be incorrect,
and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ
materially from those expressed or implied in such forward-looking statements. Forward-looking statements necessarily involve known and unknown risks,
including, without limitation: the Company's ability to implement its business strategies; risks associated with mineral exploration and production; risks
associated with general economic conditions; adverse industry events; marketing and transportation costs; loss of markets; volatility of commodity prices;
inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; industry and
government regulation; changes in legislation, income tax and regulatory matters; competition; currency and interest rate fluctuations; and other risks.
Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or
expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may
prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement. Although Tectonic has attempted to identify important factors that could cause actual results to differ
materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Tectonic does not undertake to
update any forward-looking information, except in accordance with applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
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