Tectonic Metals Set to Launch Inaugural 2023 Drill Program to Unlock the Tier-One Potential of the Flat Gold Project Tectonic to hold Webcast on July 18th with Kevin Smith, Founder and Chief Investment Officer of Crescat Capital, to discuss 2023 Exploration Program in
Tectonic Metals Set to Launch Inaugural 2023 Drill Program to
Unlock the Tier-One Potential of the Flat Gold Project
Tectonic to hold Webcast on July 18th with Kevin Smith, Founder and Chief
Investment Officer of Crescat Capital, to discuss 2023 Exploration Program in
Detail and Answer Questions
VANCOUVER, BC / ACCESSWIRE / July 13, 2023 / Tectonic Metals Inc. (TSXV:TECT)
("Tectonic" or the "Company") a mineral exploration company focused on acquiring, exploring,
and developing district-scale projects in politically stable jurisdictions, today announced the
scope of the Company's inaugural 2023 drill program for the Flat Gold Project in Southwest
Alaska. The planned 5,000 metre program will incorporate both oriented diamond and reverse
circulation ("RC") drilling in two phases with drilling expected to commence mid August.
Tony Reda, President and Chief Executive Officer of Tectonic, said: "Our inaugural 2023 drill
program is all about unveiling the tier one potential of the Flat Gold Project. Our first step is to
conduct oriented diamond core drilling, uncovering valuable insights into the structural
characteristics of gold mineralization at Chicken Mountain. With 55 historical drill holes all
encountering gold mineralization, we're thrilled about the possibilities that lie ahead. Out of
these, 25 drill holes ended in mineralization, highlighting the incredible depth potential at
Chicken Mountain. Armed with this newfound structural data, we'll aim to target mineralization
at depths that have yet to be explored. We'll also be deploying the RC drill to meticulously
investigate the sprawling 4km-long and almost 1km-wide gold-in-soil anomaly at Chicken
Mountain. We would like to express our gratitude to all the shareholders and stakeholders who
have been instrumental in bringing us to this point. Their unwavering support has led us to this
highly anticipated drill program at Flat."
2023 Exploration Program Webcast
On Tuesday, July 18th, Tony Reda, President and CEO of Tectonic Metals, and Kevin Smith,
Founder and Chief Investment Officer of Crescat Capital, will hold a webcast to discuss
Crescat's expanded investment in Tectonic Metals and the upcoming 2023 Exploration and
Drilling Program.
The webcast will take place at 11:00 AM Pacific Time, 12:00 PM Mountain Time, and 2:00 PM
Eastern Time.
To register for or access the webcast please use this link:
https://streamyard.com/watch/mvPD2TGPXsbw
Phase 1: Oriented Diamond Core Drilling
Goals:
1) Define structural orientation of gold mineralization at Chicken Mountain
2) Extend mineralization beyond 100m vertical depth at Chicken Mountain
3) Discover gold within a brand new Intrusion i.e. Golden Apex/ Chicken Mountain East
Phase 1 with the oriented diamond drill is expected to commence mid-August with the following
priority targets:
• Step down drilling along approximately 900 metres of the main Chicken Mountain Trend
beneath historical drill holes that returned highlights of 12.6 g/t Au over 24.7m (including
211.3 g/t Au over 1.4m),0.55 g/t Au over 141.7m, 1.27 g/t Au over 31.7m and 1.52 g/t
over 45.7 m. Maximum expected hole depths of 400m are designed to test the
mineralization to depth where historical drilling only averaged 96m metres vertical depth.
Diamond core orientation to yield additional information about the structural setting of
mineralization to provide ongoing exploration vectors
• Flat hosts an 11 km long geophysical anomaly that suggests additional reduced intrusion-
related gold systems may be present at Flat. Drilling will test several of these anomalies:
o Lateral drilling into the unexplored and undrilled flank of Chicken Mountain East;
and
o Diamond drilling of Golden Apex, an interpreted buried intrusive under overlying
volcanics.
Phase 2 - Strategic Drill Fences Testing Gold-in-Soil Anomaly
Goal: Demonstrate scale
Phase 2 with the RC drill is expected to commence mid to late August and will test a significant
portion of the 4 km long gold in soil anomaly at Chicken Mountain for near surface bedrock
mineralization through a series of focused drill fences across the anomaly. Much of the soil
anomaly is currently untested by historic drilling.
The Flat Gold Project - Alaska's Next Tier 1 Opportunity
Tectonic is currently assessing the Flat Gold Project in partnership with Doyon Limited
("Doyon"), one of Alaska's largest native regional corporations and a significant Tectonic
investor. Between 1908 and 1966 approximately 1.4 million ounces of Placer Gold was produced
in and around the Flat Gold project. Chicken Mountain is credited as the primary source of this
historic placer gold.
Tectonic is currently evaluating this target, which features a four-kilometer long gold in-soil
anomaly and 55 historic drill holes, all of which intersected and 25 of which ended in gold
mineralization. Preliminary metallurgical analysis to-date has demonstrated rapid leach kinetics
and gold recoveries averaging 95% from bottle roll testing (see Tectonic's news release dated
February 16, 2023). This, combined with gold intersections at or near surface, suggest Chicken
Mountain could represent an open pit, heap leach opportunity. Chicken Mountain is part of a
larger geophysical anomaly that appears to represent an 11-kilometer-long intrusion related gold
system that incorporates the additional targets of Golden Apex and Chicken Mountain East.
About Tectonic Metals Inc. ("Tectonic" or the "Company")
Tectonic brings a highly disciplined capital allocation and development process to mineral
exploration. By consistently limiting their focus to tier 1 opportunities that fit their formula for
mine economics, and de-risking projects upfront, the team has established a tremendous track
record of success. Members of the Tectonic team have been directly involved in identifying and
monetizing several significant gold discoveries throughout N. America that have created a
tremendous amount of value for shareholders and stakeholders.
To learn more about Tectonic, please click here.
Qualified Person
Tectonic's disclosure of a technical or scientific nature in this press release has been reviewed,
verified, and approved by Peter Kleespies, M.Sc., P.Geo., Tectonic's Vice President Exploration,
who serves as a Qualified Person under the definition of National Instrument 43-101.
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 Tom McMillan, Investor Relations, at toll-free
1.888.685.8558 or by email at [email protected].
Cautionary Note Regarding Forward-Looking Statements
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, the potential for
mineralization at Tectonic's projects, any future exploration activities including the planned
5000m drilling program with the oriented diamond and RC drills; 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.
SOURCE: Tectonic Metals Inc.