Pogo-Style Vein Mineralization Identified for First Time in Gneissic Western Extent of Tibbs Gold Project
VANCOUVER, BC, Nov. 10, 2021 /CNW/ – Tectonic Metals Inc. (TSX-V: TECT) (OTCQB: TETOF) (FSE: T15B) (the “Company” or “Tectonic”) today announced the surface discovery of high-grade, “Pogo-style” quartz-sulphide veining in grab samples from the underexplored gneissic rocks at the Tibbs Gold Project (“Tibbs”), located less than 35 kilometers (“km”) from Northern Star Resources’ (ASX: NST) Pogo Gold Mine (“Pogo”). Rock grab gold values from the West Trench Prospect ranged from trace to 190.4 g/t Au and are the first evidence of Pogo-style vein mineralization in the western gneissic terrain at Tibbs. These rock samples provide additional validation of Tectonic’s exploration model of controlling structures coinciding with both soil and rock gold anomalies which share the same geochemistry and host rocks as the mineralization observed at Pogo (See Pogo Geological Model here). This latest surface discovery was drill-tested during the recently completed Phase II drill campaign at Tibbs. Assay results are pending for 4,215m of drilling from 23 drill holes which tested six targets as part of the Phase II diamond and reverse circulation (“RC”) drilling.
Tony Reda, President and CEO, commented, “Through rock grab sampling, Tectonic has, for the first time, confirmed the presence of high-grade, quartz-sulphide vein mineralization in the gneissic-hosted, western half of Tibbs at our West Trench target. We immediately recognized the importance of this development and followed up our discovery with drilling during our Phase II program. With the recognition of Pogo-style veining in the western gneissic rocks, Tibbs now exhibits all the key features of the Pogo Geological Model, with important evidence for the mineralizing fluid having passed through controlling high and low-angle structures within favorable host rocks.”
Highlights and Key Takeaways
- Discovery of high-grade quartz-sulphide veining in rock grab samples to 190.4 g/t Au collected in the highly prospective western gneissic region of Tibbs
- West Trench Prospect: newly discovered, 600m long gold-in-soil anomaly sharing the same gneissic host rocks, soil geochemistry, and now confirmed surface rock geochemistry as observed at Pogo
- Quartz vein mineralization in rock grabs is identical to that observed 3.5 km south at the Company’s Gray Lead Zone (12.45 g/t Au over 5.15m; see previous news release here), which in turn represents the best example of Pogo-style gold mineralization, outside of the Pogo mine itself, in the Goodpaster Mining District
- Comprehensive drill test of West Trench completed in Phase II drill program
- 5 holes (952m): first ever drill test, including drill hole targeting the high-grade veining sampled at surface
- Assay results are still pending for all 23 Phase II drill holes comprising 4,215m at Tibbs
- Maps associated with this news release can be viewed by clicking here
First Ever High-Grade Rock Grabs in Western Gneissic Host Rocks of Tibbs
Tectonic geologists completed a mapping and prospecting campaign over the underexplored western, gneissic portion of the Tibbs project, where 2020 soil sampling identified multiple high-tenor gold-in-soil anomalies, including the West Trench, Galosh, Johnson Saddle, and Gray Lead West Targets. These new targets possess the same geochemistry and gneissic host rocks as mineralization observed at Northern Star Resources’ nearby Pogo mine. A total of 19 rock samples were collected, with 3 samples returning greater than 0.200 g/t Au, and a highlight result of 190.4 g/t Au from sample 3816241 at the West Trench target, which represents the first example of Gray Lead/Pogo-style quartz vein mineralization found in rocks in the western targets at Tibbs. The sample was collected 3.5 km north of the Gray Lead vein which was drilled in Phase I (12.45 g/t Au over 5.15m), indicating the presence of a larger hydrothermal system than previously known.
Three samples, believed to be in-situ, were collected from the excavation at West Trench: a high-grade, sulphide-bearing quartz vein grading 190.4 g/t Au, a sample of opaque white quartz vein with lower sulphide content grading 9.82 g/t Au, and a sample of barren opaque white quartz. The samples were collected from a prominent northwest-trending electromagnetic geophysical lineament 200m east and up-hill of diamond drill hole TBDD21-009, which targeted a prominent high-angle structure identified by the Company’s TITAN geophysical survey (See previous news release here). After sampling the Pogo-style rock grab from West Trench, RC hole TBRC21-006 was drilled from a site ~80m west of the sample location in order to test for either a high or low-angle orientation to the vein mineralization. Assays are pending.
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 2021 rock sampling program was performed by Bureau Veritas Laboratories (“BV”), an internationally recognized and accredited analytical services provider, which is independent of Tectonic. 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 Hermosillo, Mexico, 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 sent to the Vancouver, British Columbia lab for a four acid Inductively Coupled Plasma Emission Spectrometer (ICP-ES) analysis 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 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) 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.
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On behalf of Tectonic Metals Inc.,
President and Chief Executive Officer
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 payment of finder’s fee and issuance of Finder’s Warrants; the exercise of the Finders’ Warrants in accordance with their terms; and 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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