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Tectonic Gold Plc (TTAU)

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Monday 11 February, 2019

Tectonic Gold Plc

Final Assay Analysis for Specimen Hill

11 February 2019

TECTONIC GOLD PLC

(“Tectonic Gold” or the “Company”)

 Drilling and Assays - Specimen Hill Project

Tectonic Gold plc (TDIM: TTAU), an Intrusive Related Gold (“IRGS”) exploration pioneer, is pleased to announce that nearly all assays from the October-November 2018 diamond drilling campaign at the Company’s flagship Specimen Hill project in Queensland, Australia have been received.

Highlights:

  • The ‘Stage 1’ drill program for 2,517.3m of HQ3 diamond drilling was completed as planned
  • 95% of all assays sent for analysis have been returned
  • Gold mineralisation was intersected in all holes drilled
  • Geological review of core confirms an IRGS diatreme system comparable to neighbouring multi million ounce gold deposits at Kidston (3.7Moz Au), Mt Rawdon (3.5Moz Au) and Mt. Leyshon (2Moz Au)
  • Grades of up to +35g/t Au intersected with high Ag, Mo and Te assays
  • The mineralised system is confirmed open at depth and along strike
  • Geological modelling of results to be presented in March 2019
  • Follow up 7,500m ‘Stage 2’ drilling program being planned

The reporting of assay results is largely complete and the technical team has progressed its assessment and incorporation of these results into geological models and targeting for follow up drilling. A further 7,500m remains to be drilled with Titeline Drilling Ltd under the drill for equity agreement.

Positive assay results including exceptional gold grades in excess of an ounce per tonne have been recorded. These intersections are from the epithermal zone, below and adjacent to previously tested and confirmed mineralisation at the Main Lodes.

Typical of high to intermediate sulphidation epithermal deposits, high grades of molybdenum, silver, tellurium and other “signature” IRGS elements were returned.

Specimen Hill Phase 1 Diamond Drilling Program – Significant Intercepts > 1.0g/t Au * Rounding in effect
Hole Name From (m) To (m) Interval (m) Gold (g/t) Silver (g/t) Tellurium (g/t)
SHDD09 (HQ3) 14.0 14.8 0.8 1.23 151.00 153.50
SHDD11 (HQ3) 6.3 7.2 0.9 2.15 0.31 9.79
59.0 60.0 1.0 1.64 0.30 6.37
80.2 81.2 1.0 8.25 1.37 19.95
90.4 91.0 1.6 5.79 20.76 3.27
Including 0.25m @ 35.2g/t Au; 37.2 g/t Ag and 15.15 g/t Te from 90.4m
118.0 119.0 1.0 1.35 5.54 5.76

The geological, structural and assay results from the Stage 1 drilling program at Specimen Hill have proved Tectonic Golds’ research suggesting that the multi-phase IRGS systems can be accurately targeted with the integrated use advanced geophysics such as Sub-Audio Magnetics (“SAM”) and DIAS – 3D IP technologies, far more cost effectively than traditional exploration techniques. 

About the Specimen Hill Prospect:

Specimen Hill has produced over 8,000 ozs of gold from historic small-scale surface and shallow underground mining, with run of mine grades reported up to 40g/t Au. Despite this rich production, previous explorers were unable to map the system under cover and establish a large-scale resource, so the project remained undeveloped.

Tectonic Gold reinterpreted historic data utilising proprietary IRGS understanding and identified extensions to the mineralised system under cover. Using advanced software, big-data analytics, new geophysical technologies and innovative testing methodologies, such as Laser Ablation Inductively Coupled Mass Spectrometry (LA-ICP-MS), Tectonic Gold has unlocked this mineralised system. The Company has significantly extended the known structure hosting gold bearing mineralisation and demonstrated a vertically extensive epithermal gold prospect from surface to +500m, with multiple potential porphyry feeder zones at depth.

Intrusive gold system style alteration and sulphide zones have been intersected in the current drilling campaign proving the similarity to neighbouring multi-million ounce deposits.

Historic drilling of 63 shallow holes delivered grades to 15g/t within a ~300m strike. The current drilling campaign confirms the strike extension mapped by our recent geophysical surveying, to over 1,500m.

A buried intrusive interpreted to be part of the mineralising source for the epithermal deposit has been intersected in deeper drilling, confirming the targeting by DIAS 3D IP surveying technology the Company employed in April 2018.

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

Mr. Brett Boynton, Managing Director – Tectonic Gold Plc

“The Stage 1 drilling at Specimen Hill has provided us with a technical win on the research front and high grades in all key IRGS elements including gold, molybdenum, silver, and tellurium

The system identified at the Main Lodes is large, has returned high-grade intersections and remains open at depth and along strike.

We have a final few assays still to be processed that are indefinitely delayed due to the regional flooding in Townsville where our samples are being stored, but we have sufficient information from the program to plan the next campaign. A follow up 7,500m drill program, utilising our drill for equity credit with partner Titeline Drilling, targeting further extensions to the epithermal zone, is currently under review by our technical team and external advisors.

Australian gold prices are currently over A$1,800 per ounce, testing all time highs, making it an ideal time to be active and exploring for gold.

We have shared a selection of core photos on the website at www.tectonicgold.com and on Twitter @tectonic_gold.

Finally, our thoughts are with our subcontractors and the folks up in Townsville affected by the cyclone flooding over the last week.

Qualified Persons:

Mr Jonathan Robbeson – BSc (Hons1), MEconGeol, MMinEng, (CP Geo) is a full time employee 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 London Stock Exchange and the 2012 Edition of the ‘Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (JORC Code). Mr Robbeson consents to the inclusion in the release of the matters based on his 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 website for the Specimen Hill Prospect.

The Directors of the Company accept responsibility for the contents of this announcement.

For further information, please contact:

Tectonic Gold plc
Brett Boynton
Sam Quinn
www.tectonicgold.com.
@tectonic_gold
+61 2 9241 7665
NEX Exchange Corporate Adviser and Broker
Peterhouse Capital Limited
Mark Anwyl
+44 20 7469 0930
Financial Adviser and Broker
VSA Capital Limited
Andrew Raca
+44 20 3005 5004

Ends

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.


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