Tectonic Commences Titan Geophysical Survey in Advance of Phase Two Drilling of Pogo-Like Gold-In-Soil Anomalies at the Tibbs Gold Project, Alaska
VANCOUVER, July 20, 2021 - Tectonic Metals Inc. (TSXV: TECT) (OTCQB: TETOF) (FSE: T15B) (the "Company" or "Tectonic") today announced the commencement of a deep-penetrating TITAN-160 ("TITAN") ground-based Geophysical Survey (the "Survey") designed to specifically target multiple Pogo-like gold-in-soil anomalies situated on the Company's Tibbs Gold Project ("Tibbs"), located in Alaska's Goodpaster Mining District, 35 kilometres ("km") east of Northern Star Resources' Pogo Gold Mine. The Company engaged Quantec Geoscience Limited to carry out the Survey at Tibbs to transect the entirety of the structural corridor, which controls gold mineralization at the property. TITAN is a unique survey that employs two separate geophysical surveys: DC Resistivity and Induced Polarization ("DCIP") and Magnetotelluric ("MT") and provides DCIP resistivity and chargeability sections at depths of up to 750m, with MT collected to depths of 1,500m and greater.
Tony Reda, President & CEO, commented, "Tectonic's innovative approach to mineral exploration is once again reflected in our decision to conduct a deep searching TITAN survey at Tibbs. For the first time in the history of this property, a non-airborne geophysical survey will fully transect the prospective host rocks and structural corridor, which controls gold mineralization. Interestingly, limited historical ground geophysical surveys were restricted to the intrusive rocks, while gneissic rocks in the west of the property, which are similar to those which host the mineralization at the nearby Pogo Gold Mine, were untested. Extending our TITAN lines across the entire rock package and structural corridor at Tibbs will assist us in drill testing this season for possible low-angle shears or structures within the gneissic rocks, a target potentially analogous to the Liese veins at Pogo."
Previous field observations and structural analysis undertaken by Tectonic suggests the presence of low-angle extensional structures and shears within the gneissic rocks. This structural and geological setting is similar to that found at the Liese zone at the Pogo Gold Mine, where low-angle reactivated shear structures host gold mineralization in quartz-sulphide veins. The subsurface resolution provided by the near surface DCIP and deep looking MT will aid in the interpretation of the structural architecture of the project. Results of the Survey will be instrumental in determining drill hole targeting during the second phase of the Company's on-going 2021 drilling program at Tibbs.
TITAN-160 Survey - Technical Details
Four TITAN lines 4,000m long and spaced approximately 1,000m apart are planned at Tibbs. Dipoles are spaced at 100m along each line, with MT sites spaced at 200m, to provide data coverage to significant depths (DCIP to approximately 750m depth; MT resistivity to approximately 4,000m depth). The Survey is expected to be completed in the latter half of July.
A map of the planned TITAN lines can be found on Tectonic's website here.
Tectonic's ongoing 2021 exploration program consists of the first oriented diamond drill core in the property's history, a TITAN survey, and geological mapping and prospecting. The program is designed to obtain structural control on high grade mineralization drilled by the Company over the previous two seasons, while also refining and testing newly discovered exploration targets with similar structural, geological, and geochemical features as mineralization at the Pogo Gold Mine.
About Tibbs
Detailed maps, cross sections and historic drill data relating to Tibbs may be found on Tectonic's website here.
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.
On behalf of Tectonic Metals Inc.,
Tony Reda
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 info@tectonicmetals.com.
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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.