Tectonic Eagerly Anticipates Remaining 2021 Drill Assays; Provides Summary Of Successful 2021 Exploration Program
VANCOUVER, B.C., December 20, 2021 – Tectonic Metals Inc. (TECT: TSX-V; TETOF: OTCQB; T15B: FSE) (the "Company" or "Tectonic") is pleased to provide a summary of the Company’s 2021 exploration activities and new project acquisition in Alaska, USA. Over the course of 2021, Tectonic successfully completed 5,018 metres (“m”) of drilling, including 12 holes for 2,319m of the first oriented core diamond drilling and 18 holes for 2,699m of reverse circulation (“RC”) drilling at the Company’s Tibbs Gold Project (“Tibbs”). Drilling tested known high-grade gold targets and newly discovered prospects exhibiting coincident gold-in-soil anomalies, high-grade mineralization in grab samples, and both surficial structural lineaments and subsurface geophysical anomalies. Phase I drill results have been released; Phase II assays (85% of Tectonic’s total drill program) are pending.
Why We’re Excited – 2021 Highlights and Key Takeaways
- First-Ever Drill Test of 5 Targets Possessing Characteristics Akin to the Pogo Geological Model (See map here)
- Since 2018, Tectonic has been diligently and methodically applying the Pogo Geological Model at Tibbs to generate drill targets in search of the next Pogo. In doing so, the Company produced compelling drill-ready gold-in-soil anomalies that share the same host rock (gneissic) and similar geochemistry (Au-As-Bi) as well as interpreted high and low-angle structures observed in lineaments and Tectonic’s TITAN Geophysical Survey completed this summer.
- Gray Lead West Drill Target: situated immediately west of one of the only known high- angle structures carrying high-grade Pogo-style gold mineralization outside of the Pogo mineral claims.
- 4 holes (959m), including 424m of diamond core, which successfully intersected interpreted high and low-angle Pogo-style quartz veining; assays pending.
- First ever Pogo-style quartz veining intersected in the western, gneissic host rock region of Tibbs; assays pending.
- West Trench Drill Target: Tectonic rock grab samples returned Pogo-style quartz veining up to 190 g/t Au, representing the second surface discovery of high-grade Pogo-like quartz veining in the highly prospective western gneissic region of the property. The 190 g/t Au rock grab sample coincides with a high-tenor gold-in-soil anomaly and geophysical anomaly. (News release here)
- 5 holes (952m) drilled, first ever drill test; assays pending.
- Johnson Saddle Drill Target: 2 holes (586m). Drill test of arcuate, high-tenor gold-in-soil anomaly, including a 790 ppb Au soil sample coinciding with low-angle structures observed in TITAN geophysics and lineament analysis: assays pending.
- Galosh Drill Target: 2 holes (357m), first ever drill test of gold-in-soil anomaly coinciding with high and low-angle structures observed in TITAN geophysics; assays pending.
- TITAN-160 Geophysical Survey identified low and high-angle controlling structures coinciding with gold-in-soil anomalies warranting drill follow up in 2022. (News release here)
- High-Grade Rock Grab Anomaly Delineated and Drill Tested (News release here)
- Jorts Drill Target: Grab rock sampling returned gold values up to 50.3 g/t Au, with 11 rock samples grading greater than 20 g/t Au producing a 450m long high-grade gold rock anomaly. (See map here)
- Immediately followed up with Phase II drill test consisting of 5 holes (730m); assays pending.
- Phase I oriented diamond drill results were announced from the Michigan and Gray Lead Zones earlier this year. The program was successful in intersecting high-grade gold mineralization such as 7.69 g/t Au over 6.12m, including 33.92 g/t Au over 1.22m and 12.45 g/t Au over 5.15m, including 41.39 g/t Au over 1.26m, and determining the structural orientation of the mineralization at both the Michigan and Gray Lead Zones. Both zones are approximately 250m in length and remain open along strike and at depth. (News release here)
- Comprehensive mapping and sampling programs were completed at Tibbs South, Mt. Harper, and Maple Leaf Projects. (News release here)
- Acquisition of Flat Gold Project, a ~92,000-acre Intrusion-hosted, bulk tonnage opportunity in the Kuskokwim Mineral Belt with ~11,000m of historical drilling with all mineralized zones remaining open at depth and along strike and numerous untested gold-bearing trenches, rocks samples and soils located 40km from the Donlin Gold Project, jointly owned and operated by Barrick Gold Corporation (TSX: ABX; NYSE: GOLD) and NOVAGOLD Resources Inc. (TSX, NYSE American: NG). (News release here)
Tony Reda, President and CEO, commented, “Tectonic’s 2021 exploration program at Tibbs was predicated on our desire to find the next mineable gold deposit in the Goodpaster Mining District. Our ambition is reflected in the capital we raised this year and the diligent, aggressive approach we have taken with this year’s exploration program at Tibbs resulting in the deployment of two drills to site and the most targets being drill tested in one season at Tibbs. For us, the win is not only in discovering gold, but doing so in a safe and responsible manner. This year, like last year, we had zero COVID-19 cases. Were there challenges, yes of course, there always are, but how you deal with those challenges is what separates a good team from a great team. I am proud of our team, both in the field and off, for their ability to adapt to each situation, pivot, regroup and execute. The Phase I exploration program was a success with drilling demonstrating high-grade gold at two Tibbs’ gold zones while prospecting, rock sampling and an accompanying geophysical survey fortified the merit of drill testing our gold-in-soil anomalies now. Having raised additional funds to allow us to be opportunistic, Tectonic quickly launched a Phase II exploration program and delivered a comprehensive drill test focused on making new discoveries in the gneissic terrain of our property. Lab delays mean the majority (85%) of our assays have yet to be released, but we eagerly anticipate sharing these with the market as soon as they are available.”
Eric Buitenhuis, VP Exploration, commented, ”2021 was a year of “Firsts” for the team at Tectonic, with a comprehensive exploration program led by an aggressive drill campaign that stepped out on our previous discoveries, built on our existing knowledge and pushed into the previously unexplored western gneissic frontier at Tibbs. We not only drilled the first ever oriented diamond core at Tibbs but also completed comprehensive mapping and prospecting programs at our Tibbs South, Mt. Harper and Maple Leaf properties. Another “First” was our TITAN-160 survey, the first high-powered ground-based geophysical survey completed over the western rocks at Tibbs, which provided unprecedented insight into the nature of the controlling structures there. Our 2021 exploration program reflected our attention to detail, aggressive targeting, and fundamental reliance on a scientific approach to advancing our projects.”
Fig 1. Tectonic Metals’ properties, Alaska, USA
Next Steps – Assays Pending
While positive results have been released from Tibbs’ Phase I programs, Tectonic eagerly awaits assays from Phase II of our campaign. The planning and development of our 2022 field season will be informed by these results and the Company looks forward to updating the market at the earliest opportunity.
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.
Tectonic Metals Inc. is a mineral exploration company created and operated by an experienced and well-respected technical and financial team with a track record of wealth creation for shareholders. Key members of the Tectonic team were involved with Kaminak Gold Corporation, the Company that raised C$165 million to fund the acquisition, discovery and advancement of the Coffee Gold Project in the Yukon Territory through to the completion of a bankable feasibility study before selling the multi-million-ounce gold project to Goldcorp Inc. (now Newmont) for C$520 million in 2016. Tectonic is focused on the acquisition, exploration, discovery and development of mineral resources from district-scale projects in politically stable jurisdictions that have the potential to host world-class orebodies.
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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 email@example.com.
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.