Tectonic Metals Drills 19.3 g/t Au Over 3.05 Metres Within Broader Interval of 6.71 g/t Au Over 9.14 Metres at Tibbs Gold Project Additional Drill Assays Anticipated in the Coming Weeks from Tibbs and Seventymile Gold Projects in
Tectonic Metals Drills 19.3 g/t Au Over 3.05 Metres Within Broader Interval
of 6.71 g/t Au Over 9.14 Metres at Tibbs Gold Project
Additional Drill Assays Anticipated in the Coming Weeks from Tibbs and Seventymile Gold Projects in
Alaska
VANCOUVER, BC
,
Sept. 15, 2020
/CNW/ -
Tectonic Metals Inc.
(TECT: TSX-V) (OTCQB: TETOF) ("Tectonic" or the "Company") today announced the first set
of assay results from the completion of its 3,202 metre ("m"), 27 hole Rotary Air Blast ("RAB") drilling campaign at the Tibbs Gold Project ("Tibbs"). Drilling at the
Michigan Zone ("Michigan") focused on systematically stepping out to the northeast and southwest along a prominent northeast trending lineament in the centre of
Michigan
, where 2019 RAB drilling intersected 6.03 grams per tonne gold ("g/t Au") over
28.95m
, and 2020 RAB drilling intersected a highlight intercept of 6.71
g/t Au over
9.14m
, including 19.3 g/t Au over
3.05m
. In addition, Tectonic collected 1,453 soil and 109 rock samples at Tibbs over prospective ground with the
goal of generating new drill targets for follow up. Tectonic is also excited to announce the completion of its Summer 2020 drill campaign at the Company's
Seventymile Gold Project ("Seventymile"), with
2,582m
of drilling completed over 26 holes, and looks forward to sharing assay results as soon as they are
available.
Michigan Drilling Highlights and Key Takeaways
Step out drilling identifies additional high-grade gold at
Michigan
– highlights include:
6.71 g/t Au over
9.14m
including 19.3 g/t Au over
3.05m
(TBRB20-029)
2.61 g/t Au over
12.19m
including 5.56 g/t Au over
3.05m
(TBRB20-026)
3.73 g/t Au over
7.62m
including 12.8 g/t Au over
1.52m
(TBRB20-025)
Expansion Potential
Michigan
remains open along strike and at depth
Drilling delineated over
275m
of strike with all 2020 drill holes intersecting gold mineralization along a northeast-trending corridor open to the northeast,
southwest, and at depth
Pogo Geological Model Relevant
Mineralized low-angle structural features observed at
Michigan
Similar to structural controls at the Pogo gold deposits, both low and high-angle mineralized structures are now interpreted at Tibbs
Recognition of mineralized low-angle features at
Michigan
within the damage zone suggests an interplay between high-angle faulting and low-angle
regional extension and shearing
High-Grade Gold and Intersecting Structures
Structures containing high-grade quartz-pyrite-arsenopyrite-stibnite veining (e.g. 19.3 g/t Au over
3.05m
, TBRB20-029) are found within broad, lower-
tenor mineralized envelopes comprised of disseminated pyrite, arsenopyrite, and stibnite within sericite-altered granodiorite
Intersection zones between low and high-angle mineralized structures appear to result in increased tenor and width of gold mineralization
Identifying these intersections will be key to unlocking the full potential of the Michigan Zone
Next Steps
Induced Polarization (IP) geophysical survey to commence at
Michigan
in the coming weeks with the goal of testing the strike and depth extent of
mineralization in the
Michigan
structural corridor
Drill assays from Lower Trench, Wolverine Zones at Tibbs expected in near future
Tibbs soil and rock sampling campaigns completed, assays pending; 1,453 soils and 109 rocks collected
Prospecting and mapping campaigns completed at the Maple Leaf and Mt. Harper Projects, assays and interpretations pending
Seventymile drilling – 6 zones tested by
2,582m
of RAB drilling. Assays pending
Eric Buitenhuis
, VP Exploration, commented,
"Tectonic is pleased to have completed our Summer 2020 drill programs at Tibbs and Seventymile and to release
the first, highly encouraging assay results from our Tibbs campaign. The presence of high-grade gold mineralization within broad, lower-tenor mineralized
envelopes at
Michigan
is indicative of a productive hydrothermal system within the corridor, and the intersection of low and high-angle structures appears to
result in an increase in both tenor and width of mineralization. These newly recognized low-angle mineralized features may be related to low-angle regional
shearing, a critical structural control on mineralization in the Goodpaster District, including at the Pogo mine. Interestingly, several low-angle faults have been
mapped within Paleozoic gneisses in the western region of the Tibbs project – an ideal Pogo analogue. We look forward to announcing the remaining results
from the Lower Trench and Wolverine Zones, the soil sampling and prospecting programs, and the Seventymile drill campaign as soon as they are available."
Drill Highlights – Michigan Zone
Drill Hole
From (m)
To (m)
Weighted
Grade (g/t Au)
Length (m)*
TBRB20-021
86.87
89.92
0.68
3.05
TBRB20-022
99.06
102.11
0.50
3.05
TBRB20-023
10.67
13.72
1.89
3.05
TBRB20-024
38.10
39.62
6.83
1.52
TBRB20-024
64.01
67.06
1.14
3.05
TBRB20-024
118.87
124.97
0.59
6.10
TBRB20-025
62.48
65.53
5.99
3.05
TBRB20-025
109.73
117.35
3.73
7.62
including
109.73
111.25
12.80
1.52
TBRB20-026
12.19
15.24
0.55
3.05
TBRB20-026
21.34
22.86
12.80
1.52
TBRB20-026
39.62
41.15
0.93
1.52
TBRB20-026
53.34
65.53
2.61
12.19
including
60.96
64.01
5.56
3.05
TBRB20-027
19.81
24.38
0.90
4.57
TBRB20-027
48.77
50.29
2.31
1.52
TBRB20-027
67.06
68.58
2.08
1.52
TBRB20-027
99.06
102.11
0.85
3.05
TBRB20-028
100.58
111.25
1.18
10.67
including
100.58
103.63
3.45
3.05
TBRB20-028
150.88
152.40
1.40
1.52
TBRB20-029
50.29
56.39
0.55
6.10
TBRB20-029
86.87
88.39
2.17
1.52
TBRB20-029
102.11
111.25
6.71
9.14
including
106.68
109.73
19.30
3.05
TBRB20-029
121.92
129.54
1.02
7.62
TBRB20-030
115.82
121.92
0.58
6.10
TBRB20-031
No Significant Intersections
*True widths are not known at this time. All widths reported are drilled widths. "TBRB20" drill hole prefixes equate to 2020 RAB drill holes. RAB drill holes are sampled on 5-foot drill rod lengths and converted to metric for input into the drill database and assay table.
A table of drill results from Tectonic's 2020 drill holes at the Michigan Zone as well as maps, cross sections, and drill assay sheets associated with this news
release can be viewed by clicking
here
.
Additional information about the Tibbs Gold Project, including historical information, can be found in the Amended and Restated NI 43-101 Technical Report, Tibbs
Property ,
Alaska
,
United States of America
with an effective date of
October 31, 2019
, prepared by
Carl Schulze
, P.Geo., of Aurora Geosciences Ltd. in
accordance with NI 43-101, which is filed on the Company's profile on SEDAR.
Tibbs Gold Project – 2020 Drill Strategy, Objectives, and Goals
Building upon 2019's exploration success with Ground Truth America's RAB drill, Tectonic chose to utilize this cost-effective and rapid drill method to step out on
2019's highlight drill intersection at the Michigan Zone of 6.03 g/t Au over
28.95m
. Drilling in 2020 focused on stepping out from this highlight drill intercept, while
also testing for additional Michigan-style structures along a 3km long prospective corridor at the Lower Trench and Wolverine Zones.
Drilling was conducted as fences of angled holes designed to cross interpreted high-angle mineralized structures. Drill holes were dominantly oriented to the east
or southeast, depending on the zone being drill tested, with dips of 55 degrees to cut the dominantly northwest dipping structures.
A goal metreage of
2,500m
drilled was outlined prior to the commencement of the drill season. Tectonic significantly exceeded this goal at Tibbs, drilling
3,202m
in total, with
1,637m
drilled at
Michigan
alone over
275m
of drilled strike.
Geology and Mineralization
Drilling at
Michigan
in 2020 has identified an approximately
100m
wide northeast trending structural corridor which hosts both interpreted low-angle and high-
angle, northwest-dipping mineralized structures. Tectonic's drilling has delineated
275m
of strike within the central corridor, which is open to the northeast,
southwest, and at depth.
High-grade mineralization is characterized by quartz-pyrite-arsenopyrite-stibnite veining, with the best drilled intervals consisting nearly entirely of quartz-sulphide
vein material. Low-tenor mineralization at
Michigan
consists of strongly sericite-altered granodiorite with disseminated sulphides (pyrite, arsenopyrite and stibnite).
Alteration and sulphide mineralization are controlled by a northeast trending structural corridor interpreted as a damage zone. Within the damage zone, stacked,
low-angle, tabular bodies of northwest-dipping mineralization appear to be cut by higher-angle structures. The relationship between low and high-angle structures
and quartz-sulphide vein density is currently unclear, though it is likely that increased alteration and higher-tenor mineralization observed in 2020 drill hole TBRB20-
029 and 2019 drill hole TBRB19-003 is the result of structural intersections. These structural intersections are critical to finding high-tenor gold mineralization.
Additional drilling was conducted at the Lower Trench and Wolverine Zones, both >1km long, northeast trending structural corridors with associated gold, arsenic,
and antimony anomalism defined by soil and rock geochemistry and air photo lineaments. Assays are pending for both targets.
For additional information on the Lower Trench and Wolverine Zones, please see
here
.
Exploration Upside and Next Steps
In order to rapidly test the scale potential of the Michigan Zone, Tectonic is planning to conduct a follow-up induced polarization (IP) geophysical survey over the
>1km long structural corridor in late September. The goal of the survey is to determine the geophysical signature of drilled, near-surface mineralization at
Michigan
within the centre of the target and test for a similar signature both at depth and along strike within the corridor. The survey will provide valuable information on the
extent of mineralization along the deformation zone where RAB drilling was unable to be completed due to terrain constraints, as well as beneath talus cover and
valley fill.
In addition to the 2020 RAB program, Tectonic collected 1,453 soil samples at the Tibbs property. The goal of the soil sampling program was to expand the
historic soil grid to the west over a package of paragneiss and orthogneiss of Paleozoic age, where previous workers mapped several low-angle thrust faults. The
interplay of low-angle regional shears and high-angle fault structures is clearly observed at the Pogo gold deposits, where both styles of structure acted as
hydrothermal fluid conduits. Low-angle structural features observed within the
Michigan
damage zone suggest that similar relationships may be present within the
western gneissic rocks at Tibbs, illuminating a new exploration targeting concept for the Tibbs property. Assays are pending for the 2020 soil campaign.
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. Quality Assurance and Quality Control
procedures include the systematic insertion of blanks and standards into the drill sample string at a rate of approximately 1/10 (10%). In addition, field duplicate
samples are systematically collected at a rate of 3 duplicates per 100 samples. Samples are placed in sealed bags and shipped directly to the Bureau Veritas
Laboratories ("BV") preparation facility in
Fairbanks, Alaska
.
The analytical work for the 2020 Tibbs RAB drilling program was performed by Bureau Veritas Laboratories ("BV"), an internationally recognized and accredited
analytical services provider, which is independent of Tectonic. All RAB drill samples were prepared using procedure PRP70-250 (crush, split, and pulverize 250g
to 200 mesh) at BV's
Fairbanks, Alaska
facility. Samples were then sent to
Vancouver, Canada
, where they underwent analysis for gold by method FA430 (30-
gram Fire Assay fusion with an atomic absorption finish (AAS). Samples returning >10 g/t Au were re-analyzed using method FA530-Au (30g Fire Assay with
gravimetric finish). Following this, a 0.25g pulp was sent to the
Vancouver, British Columbia
lab for four-acid Inductively Coupled Plasma Emission Spectrometer
(ICP-ES) analysis for 35 elements using method MA300.
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 Goldcorp) 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.
Tectonic believes that responsible mineral exploration and development can positively impact the communities in which the company lives and operates and is
committed to early and ongoing community engagement, best practices in environmental stewardship and the development of a strong safety culture. Whether at
home or at work, the Tectonic team is grounded on the following core values: passion, integrity, patience, focus, perseverance, honesty, fairness, accountability,
respect, and a play big mindset. The company works for its shareholders and is committed to creating value for them.
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
Bill Stormont
, Investor
Relations, at toll-free 1.888.858.9887 or by email at
.
Facebook:
https://www.facebook.com/TectonicMetals/
Twitter:
https://twitter.com/TectonicMetals
Instagram:
https://www.instagram.com/tectonicmetals/
LinkedIn:
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 potential for mineralization at Tectonic's projects and any future exploration activities.
The Company makes no representation or warranty regarding the
accuracy or completeness of any historical data from prior exploration undertaken by others other than the company and has not taken any steps to verify, the
adequacy, accuracy or completeness of the information provided herein and, under no circumstances, will be liable for any inaccuracies or omissions in any
such information or data, any delays or errors in the transmission thereof, or any loss or direct, indirect, incidental, special or consequential damages caused
by reliance on this information or the risks arising from the stock market.
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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