Tectonic Launches Phase II Drilling After Successful Titan Geophysical Survey Identifies Low And High Angle Controlling Structures Coinciding With Gold-In-Soil Anomalies At Tibbs Gold Project, Alaska
VANCOUVER, B.C., August 18, 2021 – Tectonic Metals Inc. (TECT: TSX-V; TETOF: OTCQB; T15B: FSE) (the "Company" or "Tectonic") today announced that Phase II oriented diamond drilling commenced at the Company’s Tibbs Gold Project (“Tibbs”) after the previously announced deep-penetrating TITAN-160 (“TITAN”) ground-based Geophysical Survey (the “Survey”) successfully identified interpreted low and high-angle controlling structures coinciding with gold-in-soil anomalies sharing the same geochemistry and host rocks as the mineralization observed at Northern Star Resources’ (ASX: NST) nearby Pogo Gold Mine (“Pogo”). These characteristics are key components of the “Pogo Geological Model” (See here), which Tectonic applied to Tibbs resulting in numerous untested anomalies warranting drill testing.
Phase II drilling focuses on drill testing these Pogo-like targets, including West Trench, Johnson Saddle, Galosh, and Gray Lead West, which have never been drilled before. Oriented diamond drill holes will test for both low and high-angle structures as interpreted at these targets. At Pogo, both low and high-angle structural features acted as structural conduits for mineralization, with faulting observed both at lithological contacts, which acted as weak zones amenable to faulting, and within single gneissic units. Both high and low-angle structures at Pogo are favourable hosts for gold-quartz vein mineralization. Phase I diamond drilling is now complete with assays pending from the following Tibbs zones: Michigan, Gray Lead and Wolverine.
Phase II Diamond Drilling at West Trench Target
To learn more about Tectonic’s Phase II drill targets, please click here.
Tibbs Gold Project – TITAN Survey Completed
The Survey was designed to determine the subsurface geological and structural architecture at Tibbs, specifically in the western extent of the project where multiple Pogo-like gold-in-soil anomalies are found in prospective gneissic host rocks. The Survey successfully identified low and high-angle controlling structures coinciding with gold-in-soil anomalies, which the Company interprets as high-angle feeder structures adjacent to low-angle lithological contacts and possible fault zones – an analogue to the structural controls on mineralization observed at Pogo, located 35 kilometres (“km”) to the west of Tibbs. Four TITAN lines were completed for a total of 16.8 line-km surveyed across the property.
Tony Reda, President & CEO, commented, “Following the successful completion and interpretation of the results of Tectonic’s 2021 TITAN survey, we have kicked off our Phase II drill program given the Survey confirmed our exploration model of high-angle fault structures which host high-tenor gold, arsenic and bismuth soil anomalies that are found immediately adjacent to two panels of moderately dipping gneissic rocks. The gneissic rocks host gently dipping conductivity anomalies which may represent low-angle structures analogous to the shear structures which host the Liese veins at Pogo. Tectonic moved quickly to exploit the Survey’s findings, commencing Phase II of our drill program at our West Trench target, and we look forward to testing the never before drilled gneissic portion of Tibbs.”
Tibbs Gold Project – West Trench Survey Results
The Company is highlighting the West Trench Survey results in this news release; however, for a detailed discussion of the complete Survey, its purpose and targets, please see Tectonic’s news release dated July 20, 2021, here.
At West Trench, a prominent conductivity anomaly was found immediately west of two controlling high-angle fault structures. Both structures host high-tenor gold, arsenic, and bismuth soil anomalies at surface (“Au-As-Bi”), indicating the structures were open to a mineralizing fluid. The low-angle conductivity anomaly is found adjacent to the interpreted moderately west dipping contact between augen gneiss and paragneiss, the latter comprising the host rock at Pogo. The anomaly begins only 80m below surface, well within reach of conventional drilling methods, and extends for over 600m along the modelled section. Mapped geology at surface indicates a possible moderately west-dipping contact between augen gneiss in the west and paragneiss in the east, suggesting that the low-angled conductivity anomaly may represent a low-angle structure.
Previous field observations and structural analysis undertaken by Tectonic suggests the presence of low-angle extensional structures and shears within the gneissic rocks. This structural and geological setting resembles that found at the Liese zone at Pogo, where low-angle reactivated shear structures host gold mineralization in quartz-sulphide veins. The subsurface resolution provided by the near surface DCIP and deep looking MT has aided in the interpretation of the structural architecture of the project. Results of the Survey are directly influencing drill collar locations and planned hole depths for the Company’s ongoing oriented diamond drilling campaign.
TITAN-160 Survey – Technical Details
TITAN is a unique survey that employs two separate geophysical surveys: DC Resistivity and Induced Polarization (“DCIP”) and Magnetotelluric (“MT”). At Tibbs, the Survey provided DCIP resistivity and chargeability sections to 750m depth and MT sections to a maximum of 3,700m depth, allowing for interpretation of controlling features of the structural corridor.
Four TITAN lines between 4,000m and 4,400m long and spaced approximately 1,000m apart were completed at Tibbs. Survey lines were oriented roughly northwest-southeast in order to orthogonally transect the dominantly northeast trending structural corridor at the project area. Dipoles were spaced at 100m along each line with MT sites spaced at 200m intervals to provide survey coverage to significant depths (DCIP to approximately 750m depth; MT resistivity to approximately 3,700m depth in this Survey).
A map of the completed TITAN lines can be found on Tectonic’s website here.
Tectonic’s ongoing 2021 exploration program consists of the first oriented diamond drill core in the property’s history, a TITAN survey, and geological mapping and prospecting. The program is designed to obtain structural control on high grade mineralization drilled by the Company over the previous two seasons, while also refining and testing newly discovered exploration targets with similar structural, geological, and geochemical features as mineralization at Pogo.
Detailed maps, cross sections and historic drill data relating to Tibbs may be found on Tectonic’s website here.
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.
On behalf of Tectonic Metals Inc.,
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 firstname.lastname@example.org.
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.
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.
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