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Summary

Tibbs
Northway
Seventymile

Summary

The Northway project is wholly contained within land owned by Doyon, Ltd. As part of Tectonics’ business model and risk management strategy, a milestone agreement was formed on the Northway project covering all aspects of exploration, development, production, and royalties.

The project is centred at Northway Junction, Alaska, on approximately 185,000 acres of land owned by Doyon and Northway Natives Inc, within the Tanacross Mining District. As part of Tectonics’ business model to target potential district-scale opportunities, the Northway project extends 40 km northwest-southeast along the Alaska State Highway.

The Northway property is located within the Yukon Tanana Terrane, with basement stratigraphy of YTT metasedimentary and metavolcanics rocks intruded in the mid-late-Cretaceous by at least two plutonic suites that range in composition from granodiorite to granite. The youngest known intrusive, a feldspar porphyritic monzonite, has been dated to 67-70 Ma and is believed to be responsible for greisen-hosted polymetallic-Au mineralization at the Road Metal prospect, located immediately at Northway Junction. Structurally, the crustal-scale, northeast-trending Sixtymile-Pika fault system which potentially controlled the emplacement of porphyry systems at the Taurus and Oreo prospects, trends towards the northwestern corner of the property. Beyond the ground immediately surrounding the Alaska Highway, numerous geophysical anomalies suggestive of porphyry centres have been identified, including some with coincident gold and copper in soil samples. Notably, the Tanacross region has seen an uptick in exploration activity, with the arrival of several major mining companies

Regional stream sediment and ridge-top soil sampling completed by Tectonic in 2018 identified Target 6 and Target 7, coincident magnetic and soil geochemical anomalies located 30 kilometres apart along an NW-SE axis as priority targets for follow-up. Target 6 is located in the northwest of the property and consists of a 1.2 kilometre long, NE-SW trending soil Cu-Mo-Au anomaly with soil results of up to 597 ppm copper and 253 ppb gold. Target 7, located in the southeast of the property, consists of an approximately 800-metre long gold-arsenic soil anomaly with peak values of 2.12 g/t and 1.82 g/t gold.

In 2019 Tectonic completed a two-phased exploration program with the goal of refining the soil geochemical anomalies at Target 6 and Target 7 and defining drill targets for later follow-up. Over 9,500 linear metres of Geoprobe sampling was completed to test the extent of the Cu-Mo-Au anomaly at Target 6, and to provide context for the high-grade gold-in-soil anomalies at Target 7. The second phase of exploration consisted of an 864-metre Rotary Air Blast (RAB) drill program testing both prospects. Tectonic successfully completed the RAB program and is now awaiting results.

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