News

VANCOUVER, B.C., March 3, 2022 – Tectonic Metals Inc. (TECT: TSX-V; TETOF: OTCQB; T15B: FSE) (the "Company" or "Tectonic") today announced check drill assay results, including 104.5 grams per tonne gold (“g/t Au”) over 1.0 metres (“m”), from quarter-core check assay sampling of the previously announced Michigan Zone (“Michigan”) drill hole TBDD21-002 (see October 25, 2021 news release here). The original sample from this interval returned 1.034 g/t Au over 1.0m from 74.0-75.0m downhole. A total of nine specks of visible gold (“VG”) were identified within a quartz vein from that sample during the initial logging of the drill core. This check assay demonstrates the presence of a significant coarse gold “nugget effect”. Drill hole TBDD21-002 is located in the heart of Michigan, which has 275m of drilled mineralized strike to a confirmed vertical depth of 250m with mineralization open in all directions. Michigan is one of several gold zones at the Company’s Tibbs Gold Project, Alaska, USA (“Tibbs”).

Highlights and Key Points

• Drill hole TBDD21-002 underwent multiple assaying methods (half core fire and metallic screen assaying along with routine quarter core check fire assaying). Comparison of assay results (see Table 1 below) suggests that a gold nugget effect is present at Michigan consisting of a heterogeneous distribution of coarse gold particles, which appears to be controlled both by style (high-grade quartz-sulphide-gold veining) and spatial distribution of mineralization (discrete structural corridors).

• Drilling at Michigan exhibits high-grade gold:  6.03 g/t Au over 28.95m (2019), 6.71 g/t Au over 9.14m (2020), 7.69 g/t Au over 6.12m (2021), 104.5 g/t Au over 1.0m (2021) and 57.1 g/t Au over 1.52m (2011). New interpretation suggests that these high-grade intercepts may be situated on a newly identified steep structure. This structure, tested by the 2021 diamond drill holes, is highly oblique to the historical drill orientation. Drill testing of this potential new structure will be a top priority going forward.

• Nuggety gold and VG have been observed at other mineralized zones at Tibbs, including the high-grade Gray Lead Zone 4km to the southwest of Michigan.

• Tectonic is initiating a program of selective metallic screen assaying for all known intervals of quartz vein mineralization and VG drilled during the 2021 season. The forthcoming assay results will allow Tectonic to further understand the extent and distribution of nuggety gold within the project area and how to best assay drill samples going forward.

• More information about Michigan is available here. Michigan plan maps and cross-sections can be viewed here and here.

A nugget effect results when a small sampling size fails to adequately represent the composition of the core tested due to the non-uniform distribution and/or coarse grain size of gold particles in the material sampled. A more representative assay value can be determined using metallic screen analyses, a widely used technique in the mining industry. A metallic screen analysis consists of one assay from the coarser fraction and a second assay from the finer fraction of a sample. The two values are then combined to provide a more representative weighted average gold value. Tectonic’s sampling methodology has been to always send the same side of the split core for assay, regardless of where any potential visible gold is noted, to eliminate bias in the sampling procedure.

Check Assays – Presence of Nuggety Gold at Michigan Zone

Due diligence sampling of quarter core material from hole TBDD21-002 at the Michigan Zone was completed near the end of the 2021 drilling program at the Tibbs Property. Specific sample intervals of half HQ-sized drill core consisting of both disseminated and vein-hosted gold mineralization were selected by an Independent Geologist for standard season-end due diligence check analysis at a different laboratory than the original samples (ALS Laboratories, Vancouver, Canada). The drill core was sawed in half, with a quarter retained for reference and a quarter sent to the laboratory for check fire assay analysis.

Table 1 presents a comparison of results from the half core fire assay, half core metallic screen and quarter core fire assay from 2021 diamond drill hole TBDD21-002 at Michigan. Gold assay difference between the original fire assay or metallic screen and check fire assay for the disseminated style mineralization samples show a maximum of 12% difference, which is considered an acceptable range. Vein hosted mineralization shows significant differences between the original fire assay, metallic screen assay, and the quarter core check assay. Evidence of coarse gold nugget effect is present within most vein samples.

Figure 1: Photos of visible gold within quartz-sulphide vein material in hole TBDD21-002 at the Michigan Zone. Check assaying of the interval from 74-75m returned a value of 104.5g/t Au over the 1m interval, indicating the presence of nuggety, high-grade gold mineralization.

Table 1: TBDD21-002 gold results for original 30g fire assay, 1kg metallic screen fire assay, and 30g check sample fire assay.

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.

Check assay analysis was performed by ALS Laboratories (“ALS”), an internationally recognized and accredited analytical services provider, which is independent of Tectonic. Check samples were submitted to ALS’s Whitehorse, Yukon facility where they were prepared using procedures CRU-31, SPL-21, and PUL-31 (crush, split, and pulverize 250g to 85% <75 µm). Pulp samples were then sent to North Vancouver, Canada, where they underwent analysis for gold by method Au-AA23, a 30-gram Fire Assay fusion with an atomic absorption finish. Samples returning >10 g/t Au were re-analyzed using method Au-GRA21, a 30g Fire Assay with gravimetric finish. Additionally, a 0.25g pulp was analysed by four acid Inductively Coupled Plasma Mass Spectrometry (ICP-ES) for 48 elements using method ME-MS61L.

The analytical work for the 2021 drilling program was performed by Bureau Veritas Laboratories (“BV”), an internationally recognized and accredited analytical services provider, which is independent of Tectonic. All samples were submitted to BV’s Fairbanks, Alaska facility where they were prepared using procedure PRP70-250 (crush, split, and pulverize 250g to 75 µm). Pulp samples were then sent to Vancouver, Canada, 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 analysed by four acid Inductively Coupled Plasma Emission Spectrometer (ICP-ES) for 35 elements using method MA300. A 0.25g pulp from all Reverse Circulation samples was analysed by four acid ICP-ES for 45 elements using method MA200. Metallic screen fire analysis was conducted using method FS652-1Kg, with a 1kg screen to 106 µm, and the complete plus fraction, plus duplicate 50g minus fractions analysed.

Quality Assurance and Quality Control procedures include the insertion of coarse blanks and certified assay standards into the sample string at a rate of approximately 1/10 (10%). Core sampling procedures are standardized and non-biased, with the box-top side of the split core sent to the laboratory for each sample. Samples are placed in sealed and security tagged bags and shipped directly to the BV preparation facility in Fairbanks, Alaska.

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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 info@tectonicmetals.com.

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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.