Tectonic Metals Set to Launch Inaugural 2023 Drill Program to Unlock the Tier-One Potential of the Flat Gold Project
Tectonic to hold Webcast on July 18th with Kevin Smith, Founder and Chief Investment Officer of Crescat Capital, to discuss 2023 Exploration Program in Detail and Answer Questions
VANCOUVER, B.C., July 13, 2023 – Tectonic Metals Inc. (TSXV: TECT) (“Tectonic” or the “Company”) a mineral exploration company focused on acquiring, exploring, and developing district-scale projects in politically stable jurisdictions, today announced the scope of the Company’s inaugural 2023 drill program for the Flat Gold Project in Southwest Alaska. The planned 5,000 metre program will incorporate both oriented diamond and reverse circulation (“RC”) drilling in two phases with drilling expected to commence mid August.
Tony Reda, President and Chief Executive Officer of Tectonic, said: “Our inaugural 2023 drill program is all about unveiling the tier one potential of the Flat Gold Project. Our first step is to conduct oriented diamond core drilling, uncovering valuable insights into the structural characteristics of gold mineralization at Chicken Mountain. With 55 historical drill holes all encountering gold mineralization, we're thrilled about the possibilities that lie ahead. Out of these, 25 drill holes ended in mineralization, highlighting the incredible depth potential at Chicken Mountain. Armed with this newfound structural data, we'll aim to target mineralization at depths that have yet to be explored. We'll also be deploying the RC drill to meticulously investigate the sprawling 4km-long and almost 1km-wide gold-in-soil anomaly at Chicken Mountain. We would like to express our gratitude to all the shareholders and stakeholders who have been instrumental in bringing us to this point. Their unwavering support has led us to this highly anticipated drill program at Flat.”
2023 Exploration Program Webcast
On Tuesday, July 18th, Tony Reda, President and CEO of Tectonic Metals, and Kevin Smith, Founder and Chief Investment Officer of Crescat Capital, will hold a webcast to discuss Crescat's expanded investment in Tectonic Metals and the upcoming 2023 Exploration and Drilling Program.
The webcast will take place at 11:00 AM Pacific Time, 12:00 PM Mountain Time, and 2:00 PM Eastern Time.
To register for or access the webcast please use this link: https://streamyard.com/watch/mvPD2TGPXsbw
Phase 1: Oriented Diamond Core Drilling
1) Define structural orientation of gold mineralization at Chicken Mountain
2) Extend mineralization beyond 100m vertical depth at Chicken Mountain
3) Discover gold within a brand new Intrusion i.e. Golden Apex/ Chicken Mountain East
Phase 1 with the oriented diamond drill is expected to commence mid-August with the following priority targets:
- Step down drilling along approximately 900 metres of the main Chicken Mountain Trend beneath historical drill holes that returned highlights of 12.6 g/t Au over 24.7m (including 211.3 g/t Au over 1.4m),0.55 g/t Au over 141.7m, 1.27 g/t Au over 31.7m and 1.52 g/t over 45.7 m. Maximum expected hole depths of 400m are designed to test the mineralization to depth where historical drilling only averaged 96m metres vertical depth. Diamond core orientation to yield additional information about the structural setting of mineralization to provide ongoing exploration vectors
- Flat hosts an 11 km long geophysical anomaly that suggests additional reduced intrusion-related gold systems may be present at Flat. Drilling will test several of these anomalies:
- Lateral drilling into the unexplored and undrilled flank of Chicken Mountain East; and
- Diamond drilling of Golden Apex, an interpreted buried intrusive under overlying volcanics.
Phase 2 – Strategic Drill Fences Testing Gold-in-Soil Anomaly
- Goal: Demonstrate scale
Phase 2 with the RC drill is expected to commence mid to late August and will test a significant portion of the 4 km long gold in soil anomaly at Chicken Mountain for near surface bedrock mineralization through a series of focused drill fences across the anomaly. Much of the soil anomaly is currently untested by historic drilling.
Figure 1: Overhead Plan View of Oriented Diamond Core Drilling (Red) and RC Drilling (Green) Targets
Figure 2: Cross Section of Oriented Diamond Core Drilling (Red) and RC Drilling (Green) Targets Within the Area Outlined by the Dotted Line Box in Figure 1
The Flat Gold Project – Alaska’s Next Tier 1 Opportunity
Tectonic is currently assessing the Flat Gold Project in partnership with Doyon Limited (“Doyon”), one of Alaska’s largest native regional corporations and a significant Tectonic investor. Between 1908 and 1966 approximately 1.4 million ounces of Placer Gold was produced in and around the Flat Gold project. Chicken Mountain is credited as the primary source of this historic placer gold.
Tectonic is currently evaluating this target, which features a four-kilometer long gold in-soil anomaly and 55 historic drill holes, all of which intersected and 25 of which ended in gold mineralization. Preliminary metallurgical analysis to-date has demonstrated rapid leach kinetics and gold recoveries averaging 95% from bottle roll testing (see Tectonic’s news release dated February 16, 2023). This, combined with gold intersections at or near surface, suggest Chicken Mountain could represent an open pit, heap leach opportunity. Chicken Mountain is part of a larger geophysical anomaly that appears to represent an 11-kilometer-long intrusion related gold system that incorporates the additional targets of Golden Apex and Chicken Mountain East.
About Tectonic Metals Inc. (“Tectonic” or the “Company”)
Tectonic brings a highly disciplined capital allocation and development process to mineral exploration. By consistently limiting their focus to tier 1 opportunities that fit their formula for mine economics, and de-risking projects upfront, the team has established a tremendous track record of success. Members of the Tectonic team have been directly involved in identifying and monetizing several significant gold discoveries throughout N. America that have created a tremendous amount of value for shareholders and stakeholders.
To learn more about Tectonic, please click here.
Tectonic’s disclosure of a technical or scientific nature in this press release has been reviewed, verified, and approved by Peter Kleespies, 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 Tom McMillan, 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 and include, but are not limited to, the potential for mineralization at Tectonic’s projects, any future exploration activities including the planned 5000m drilling program with the oriented diamond and RC drills; 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.
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