VANCOUVER, BC / ACCESSWIRE / September 20, 2022 / Tectonic Metals Inc. (TECT:TSX-V)(TETOF:OTCQB)(FSE:T15B) (the "Company" or "Tectonic") today announced drill assay results from the 2022 Reverse Circulation ("RC") drill program at the Company's Seventymile Gold Project ("Seventymile"), an underexplored >40 kilometre ("km") long late Paleozoic greenstone belt located in eastern Alaska. Tectonic's drill program was very focused and consisted of nine holes over 1,412 metres ("m") with all holes intersecting gold mineralization, including a drill highlight hole of 59.4 grams per tonne ("g/t Au") over 1.53m. RC drilling was conducted primarily at the Flanders prospect, with wide-spaced drilling targeting analogous stratigraphic-structural settings at the Alder, Bonanza and Flume prospects.
Tony Reda, Tectonic President & CEO, commented: "The results of the targeted 2022 RC drill program validate Tectonic's exploration rationale of targeting the high iron basalt in proximity to structural contacts as the preferential site for gold mineralization along the >8km Flume trend, host to four known mineralized zones all open along strike and at depth. This validation of our exploration model will give us the ability to focus, refine and vector our exploration efforts more efficiently going forward, both as we continue to expand the known mineralized zones and search for additional mineralized centres in areas of cover along the Flume trend."
Seventymile Drill Highlights
*Drill hole ended in mineralization
**Drill lengths are reported as downhole core lengths, true widths have not been determined
Seventymile Plan Maps may be found here. Cross Sections may be viewed here. For a complete table of the 2022 Seventymile drill results please click here. For a table of reported drill holes please click here.
Seventymile Overview and Key Results
The Seventymile Gold Project represents an exciting and unique opportunity: an underexplored >40 km long greenstone belt in a Tier 1 jurisdiction. Seventymile comprises approximately 150,000 acres of Native-Owned Land with numerous gold zones delineated by reconnaissance drilling, trenching and soil and rock sampling.
Tectonic's 2022 Seventymile drill program targeted mostly the Flanders prospect with one reconnaissance drill hole each at the Alder, Bonanza and Flume prospects. The prospects are all situated within the highly prospective 8km-long Flume orogenic gold trend located in the northwestern region of the property. The mineralized zones within the Flume Trend contain mostly shallowly-dipping tension vein swarms where limited historical diamond drilling in 1990 and 2000 demonstrated the presence of high gold grades and significant strike potential. Tectonic's exploration campaigns over the years validated and proved the continuity of these mineralized structures across the >8 km Flume Trend.
Six 2022 drill holes tested an interpreted west-north-west striking, steeply north-dipping structural contact over a strike length of 450m. All holes confirmed the contact zone and encountered gold mineralization hosted in high iron ("Fe") basalts proximal to the contact or within interpreted tension veins in the high Fe basalt rock mass. High-tenor gold mineralization at Flanders appears to be almost exclusively hosted within a high Fe basalt unit.
To date, 35 drill holes (4,3864m total) comprised mostly of historical diamond drilling followed by limited Tectonic Rotary Air Blast ("RAB") and RC drilling, have now been drilled at Flanders. Historic and Tectonic drill highlights include: 104.75 g/t Au over 1.52m, 5.30 g/t Au over 15.24m, 16.58 g/t Au over 1.21m, 6.80 g/t Au over 2.14m, 10.26 g/t Au over 1.31m, 4.38 g/t Au over 6.1m and 59.4 g/t Au over 1.53m.
22 out of the 35 drill holes totalling 2,980m penetrated or intersected the high Fe basalt unit, which hosts the vast majority of high-tenor intercepts, interpreted as steeply dipping shear zones and shallow north dipping tension veins.
The high Fe basalt unit strikes west-north-west and appears to have a steep overall dip. To date, gold mineralization has been drilled within the unit over a strike length of 560m and a maximum depth of 250m vertically, with the majority of drilling being above 100m vertically. The high Fe basalt and gold-bearing veins remain open for drill testing to depth, along strike to the east and down plunge to the west.
To date, a total of 11 drill holes (956m total) comprised mostly of historical diamond drilling and limited Tectonic RAB and RC drilling returned drill highlights of 4.05 g/t Au over 3.65m, 2.08 g/t Au over 10.37m, 3.46 g/t Au m over 4.57m and 1.98 g/t Au over 10.67m outlining 275m mineralization strike to a maximum depth of 100m.
Located some 6 km west-north-west of Flanders, 2022 drill hole SMRC22-009 was drilled to a depth of 94.9m before being lost due to excess water. The hole encountered multiple zones of altered, veined high Fe basalt, which returned highlight intervals of 1.68 g/t Au over 13.71m from 25.91, 3.46 g/t Au m over 4.57m from 76.20and 1.98 g/t Au over 10.67m from 83.82m.
Tectonic is encouraged by the results and is furthering its understanding of the controls of mineralization by integrating over the next few months the new 2022 drill data with existing geophysical, geological and geochemical datasets.
Qualified Person & QA/QC
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.
The analytical work for holes SMRC22-001 and SMRC-003-009 was performed by ALS Canada Ltd ("ALS"). All samples were submitted to the ALS's Fairbanks, Alaska facility and then forwarded by ALS to its Vancouver facility where they were prepared using PREP-31 (crush, split, and pulverize 250g to 200 mesh). Pulp samples then underwent analysis for gold by method Au-AA23, a 30-gram Fire Assay fusion with an atomic absorption finish (AAS). Additionally, a 0.25g pulp was analysed by four acid Inductively Coupled Plasma Mass Spectrometer (ICP-MS) for 48 elements using method ME-MS61
The analytical work for hole SMRC22-002 was performed by Bureau Veritas Laboratories ("BV"),. All samples were submitted to BV's Fairbanks, Alaska facility where they were prepared using procedure PRP70-250 (crush, split, and pulverize 250g to 200 mesh). Pulp samples were then sent to Vancouver, Canada, where they underwent analysis for gold by method FA430, a 30-gram Fire Assay fusion with an atomic absorption finish (AAS). Samples returning >10 g/t Au were re-analyzed using method FA530-Au, a 30g Fire Assay with gravimetric finish. Additionally, a 0.25g pulp was analysed by four acid Inductively Coupled Plasma Emission Spectrometer (ICP-ES) for 35 elements using method MA300.
Quality Assurance and Quality Control procedures include the insertion of coarse blanks and certified assay standards into the sample string at a rate of approximately 1/10 (10%). Samples are placed in sealed and security tagged bags and shipped directly to the ALS/BV preparation facilities in Fairbanks, Alaska.
ALS Canada Ltd and Bureau Veritas Laboratories are internationally recognized and accredited analytical services providers, which are independent of Tectonic.
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 protected].
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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SOURCE: Tectonic Metals Inc.