Three distinct styles of gold mineralization now observed at Tibbs including Fort Knox-style intrusion-hosted sheeted gold-quartz veins
VANCOUVER, BC, Dec. 21, 2020 /PRNewswire/ - Tectonic Metals Inc. (TSX-V: TECT; OTCQB: TETOF) ("Tectonic" or the "Company") today announced mapping, prospecting, and sampling results from the Tibbs Gold Project ("Tibbs") including a 27.9 grams per tonne gold ("g/t Au") rock grab sample of granodiorite cut by sheeted quartz veins containing visible gold ("VG"). This material represents a new style of gold mineralization at Tibbs and is reminiscent of Fort Knox-style mineralization observed at the adjoining Northern Star Resources (ASX: NST) Brink gold prospect ("Brink"), where historical 2013 diamond drilling returned 0.427 g/t Au over 514.4 metres ("m"). The Brink drill intercept is situated within a multi-kilometre mineralized trend that extends onto the Tibbs property and shares the same granodiorite host rock, sheeted gold-quartz vein mineralization, and gold-arsenic-bismuth-tungsten geochemical signature as the recently collected Tibbs rock grab samples. Three distinct styles of gold mineralization are now observed at Tibbs: 1) Pogo-style high-grade gold-quartz veining at the Gray Lead prospect; 2) Intrusion-hosted disseminated sulphides and stockwork gold-quartz-stibnite-arsenopyrite veining at the Michigan and Upper/Lower Trench prospects; and 3) Fort Knox-style intrusion-hosted sheeted gold-quartz-bismuthenite veins at the Jorts and Hilltop prospects.
Eric Buitenhuis, VP Exploration, commented, "While conducting our 2020 drilling program at Tibbs, a team of geologists was deployed to map and prospect our two newly acquired Native-Owned Carrie Creek blocks, contiguous with Tibbs to the north and south. Our prospecting results demonstrate a new style of mineralization and, significantly, a much greater distribution of gold mineralization than historically known or expected. The presence of Fort Knox-style sheeted veins at the newly expanded Tibbs property represents a third style of intrusion-related gold mineralization on Tectonic's ground, confirming the presence of a well-developed mineralizing system and providing an additional avenue for exploration targeting."
Tibbs Gold Property - Prospecting Highlights
- Prospecting at Tibbs focused on the two newly acquired Carrie Creek blocks, located to the immediate north and south of the original Tibbs Gold Project and situated on Native Owned Land belonging to Doyon, Limited, one of Alaska's largest Native Regional Corporations and the largest private landholder in the State of Alaska.
- A total of 115 rock grab samples were collected at Tibbs during the 2020 prospecting program.
- Tectonic's 2020 prospecting campaign identified the Jorts and Jeans Ridge prospects in the underexplored southwest portion of Tibbs. Rock grab samples at Jorts returned values from trace to 27.9 g/t Au, with fine grained (0.5-1mm) VG associated with bismuthenite in sheeted quartz veins cutting granodiorite (Click here for image).
- Grab samples from Jeans Ridge, located 1.3 km northeast of Jorts, returned values from trace to 2.5 g/t Au.
- Gold mineralization in rock grabs at Jorts and Jeans is associated with high levels of bismuth (trace to 513 parts per million ("ppm")) and tungsten (trace to >100ppm, overlimit).
- Mineralization at Jorts and Jeans extends along a ~4 km northeast trend and is on-trend with mineralization found at Brink to the southwest, which hosts Fort Knox-style gold-bearing sheeted quartz veins and veinlets.
- The prospecting program conducted this season represents the first exploration work completed at the two Carrie Creek blocks in over 20 years.
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.
The analytical work for the 2020 rock sampling program was performed by Bureau Veritas Laboratories ("BV"), an internationally recognized and accredited analytical services provider, which is independent of Tectonic. All rock samples were prepared using procedure PRP70-250 (crush, split, and pulverize 250g to 200 mesh) at BV's Fairbanks, Alaska facility. Samples were then sent to Vancouver, Canada, where they underwent analysis for gold by method FA430 (30-gram Fire Assay fusion with an atomic absorption finish (AAS). Samples returning >10 g/t Au were re-analyzed using method FA530-Au (30g Fire Assay with gravimetric finish). Following this, a 15g pulp was sent to the Vancouver, British Columbia lab for an aqua regia Inductively Coupled Plasma Emission Spectrometer (ICP-ES/MS) analysis for 36 elements using method AQ201. Quality Assurance and Quality Control procedures include the systematic insertion of blanks and standards into the sample string at a rate of approximately 1/10 (10%). Samples are placed in sealed bags and shipped directly to the BV preparation facility in Fairbanks, Alaska.
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 Goldcorp) 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.
Tectonic believes that responsible mineral exploration and development can positively impact the communities in which the company lives and operates and is committed to early and ongoing community engagement, best practices in environmental stewardship and the development of a strong safety culture. Whether at home or at work, the Tectonic team is grounded on the following core values: passion, integrity, patience, focus, perseverance, honesty, fairness, accountability, respect, and a play big mindset. The company works for its shareholders and is committed to creating value for them.
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 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 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 potential for mineralization at Tectonic's projects, benefits of the acquisition of properties, and any future exploration activities. The Company makes no representation or warranty regarding the accuracy or completeness of any historical data from prior exploration undertaken by others other than the company and has not taken any steps to verify, the adequacy, accuracy or completeness of the information provided herein and, under no circumstances, will be liable for any inaccuracies or omissions in any such information or data, any delays or errors in the transmission thereof, or any loss or direct, indirect, incidental, special or consequential damages caused by reliance on this information or the risks arising from the stock market.
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.]
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