VANCOUVER, BC / ACCSSWIRE / July 7, 2022 / Tectonic Metals Inc. (TSXV:TECT)(OTCQB:TETOF)(FSE:T15B) (the "Company" or "Tectonic") is excited to announce that drilling has kicked off on the Company's district-scale Seventymile Gold Project ("Seventymile"), an underexplored >40 kilometre ("km") long late Paleozoic greenstone belt located in eastern Alaska. Tectonic's drill program is specifically designed to test two targets with each drill hole:
- the newly interpreted main gold-bearing shear zone feeding the historically drilled tension veins carrying diamond drill results up to 104.75 grams per tonne gold ("g/t Au") across 1.52 metres ("m")
- the true width, scale and continuity of the historically drilled, shallowly dipping tension veins, where select historical vertical drill holes intersected multiple stacked, high-grade gold veins
Seventymile Plan Maps and Cross Sections, with proposed drill target locations, may be found here. A presentation providing a detailed overview of Seventymile is available here.
Tony Reda, Tectonic President & CEO, commented: "It is extremely rare to come across a cohesive, 40-km long underexplored greenstone belt, such as Seventymile, in a Tier 1 jurisdiction. We begin our 2022 season with a renewed intensity, fuelled by the extensive interpretive work undertaken by our team, towards delineating what we believe to be top-tier, discovery-ready drill targets. The Tectonic team is laser-focused on executing an efficient drill program designed to confirm these target settings and create shareholder value. We invite investors who share our enthusiasm to join us as we track down Alaska's next great gold mine."
Seventymile Gold Project - An Underexplored 40 km Long Greenstone Belt
Maps providing an overview of the Seventymile project may be found here.
The Seventymile property represents an exciting and unique opportunity: an underexplored >40 km long greenstone belt in a Tier 1 jurisdiction, owned by Doyon, Ltd. ("Doyon"), a leading Native Regional Corporation and Alaska's largest private landowner. 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 Seventymile drill program will focus on three targets within the highly prospective 8km-long Flume orogenic gold trend, located in the northwestern region of the project. The 2022 drilling will target the key Flanders, Flume and Alder prospects, where shallowly-dipping, low-angle tension vein swarms occur adjacent to interpreted, largely undrilled, controlling shear structures. Limited historical diamond drilling in 1990 and 2000 at these targets demonstrated the presence of high gold grades and significant strike potential. Tectonic's exploration campaigns from 2018 to 2020 validated and proved the continuity of these mineralized structures across the >8 km Flume trend. Drilling will focus on obtaining detailed geological information while testing for grade, scale and potential expansion at each targeted prospect.
2022 Drilling at Seventymile
- To view the Seventymile Plan Maps with proposed drill target locations, click here.
- Flanders: High-grade north-dipping quartz tension veins hosted by a distinctive iron-rich basalt unit are open for expansion to the northwest, east, southeast, and at depth. Diamond drilling in 1990 and 2000 by previous operators intersected two highlight diamond drill results of 104.75 g/t Au over 1.52m and 5.30 g/t Au over 15.24m within tensional veins, both of which are open along strike and at depth. Additionally, a 2020 Tectonic RAB infill drill hole testing extensional, tension-gash quartz-pyrite-arsenopyrite veins at Flanders returned a highlight result of 4.38 g/t Au over 6.10m (News release detailing 2020 results here). Additionally, the 2022 program will test for shear-hosted mineralization at the northern structural contact of the high iron basalt unit, which is interpreted to be the controlling feature of the tension veins drilled to date.
- Flume: Drilling will focus on expanding the known shear-tension vein gold mineralization system by testing the down-dip extent of the shear while also stepping east across Flume Creek to test the interpreted continuation of the system in an undrilled area of high-tenor gold-in-soil anomalies (trace to 590 ppb Au).
- Alder: Undrilled high tenor gold-in-soil anomalies with values from trace to 2.34 g/t Au found in the same iron-rich basalt as observed at the Flanders. Drilling will focus on stepping west of the historic drilling into the basalt.
Qualified Person
Tectonic's disclosure of a technical or scientific nature in this press release has been reviewed, verified and approved by Carl Schulze, P.Geo., Senior Project Manager - Geology for Aurora Geosciences Ltd.., who serves as a Qualified Person under the definition of National Instrument 43-101. Mr. Schulze is a member in good standing with the Association of Professional Engineers and Geoscientists of British Columbia (APEGBC), the Association of Professional Geoscientists of Ontario (APGO) and the Northwest Territories and Nunavut Association of Professional Engineers and Geoscientists (NAPEG).
To learn more about Tectonic, please click here.
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 [email protected]
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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, planned exploration programs, and results of 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.
SOURCE: Tectonic Metals Inc.