Tectonic Gold Plc - Specimen Hill and Joint Venture Update
PR Newswire
London, February 24
25 February 2021
TECTONIC GOLD PLC
("Tectonic Gold" or the "Company")
SPECIMEN HILL TECHNICAL PROGRESS AND DIAMOND JOINT VENTURE UPDATE
Tectonic Gold plc (TDIM: TTAU), the Intrusive Related Gold System ("IRGS") explorer, is pleased to share technical findings from our collaborative research program with CODES and diamond production results from our Deep Blue Minerals joint venture in South Africa.
Specimen Hill CODES Research Highlights:
- Collaborative programme with world leading ore deposit research centre
- Genetic confirmation that copper and gold samples are close to the intrusive source
- Reaffirms drill targeting and informs plan for higher density drilling campaign
Deep Blue Production Highlights:
- January production over 220cts
- Ramp up program going well
- Moving into deeper and higher grade ore so expect continued production increases
Mr. Brett Boynton, Managing Director - Tectonic Gold Plc
" Tectonic has an ongoing research collaboration with "CODES" (The Centre for Ore Deposit and Earth Sciences) at the University of Tasmania. Major gold companies such as Newcrest also work with CODES, so this collaboration gives Tectonic an open technical forum across industry and academia.
Using advanced analytics we looked at chemical associations from the rocks at various depths to build a picture of the temperature and pressure of the gold and copper bearing fluids that came up with the intrusive to form the deposit at Specimen Hill. From this we have confirmed, amongst other things, that our methodical drilling program is moving through the deposit towards the intrusive source. We will take this information back into the model to further refine our follow up campaign with higher density drilling for resource definition.
It is important to get the same positive response from a range of tests to confirm our thinking. Often explorers hit an intersection of gold and are encouraged to drill without a clear roadmap and they end up putting in a lot of unsuccessful holes and running out of money. Working with CODES keeps us disciplined and on track.
Deep Blue Minerals JV Highlights:
Our joint venture with AIM listed Kazera Global Investments is really coming into its own now with the production ramp up program progressing well. Initial production in December was around 50 carats, so delivering this significant increase in output as we move into the higher-grade zone is an excellent result. Tectonic has a non-diluting 10% interest in Deep Blue and holds 20 million shares in Kazera, with options for another 20 million shares at 0.5p."
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 Systems ("IRGS"). Tectonic Gold holds a number of gold discoveries in the New England Orogen in Eastern Australia, a prolific gold region that is home to Australia's two largest gold production companies, Newcrest Mining and Evolution Mining. Rio Tinto, one of the largest copper companies in the world has recently taken a large tenement alongside Tectonic's Specimen Hill project
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.
JORC Table 1 information for this release on Specimen Hill can be found on the Company website.
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 |
| Financial Adviser, Corporate Adviser and Broker VSA Capital Limited Andrew Raca - Corporate Finance Andrew Monk - Corporate Broking | +44 20 3005 5000 |
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.
