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Tectonic Metals finds more Michigan-style gold mineralization at flagship Tibbs project in Alaska

Proactive Investors Tuesday, 6 October 2020
Tectonic Metals Inc (CVE:TECT) (OTCQB:TETOF) has issued the final results from its 3,020 metre (m) rotary air blast (RAB) drill campaign at its Tibbs gold project in Alaska, which has increased the potential of both the Michigan and Lower Trench targets at the property. Shares in the firm added over 9% in Toronto on the dayΒ to stand at C$0.18 each. Drilling this year at the Lower Trench and Wolverine zones have been the first holes since 1997 and at these zones the firm was testing Michigan-style structures along a 3km long prospective corridor. READ: Tectonic Metals releases first set of high grade gold results from its drill campaign at Tibbs project in Alaska Tectonic reckons both Lower Trench and Wolverine represent structural blocks which were initially connected to the Michigan zone, where 2019 and 2020 drilling hit gold in every hole, including highlights such as 6.71 grams per ton (g/t) gold over 9.14m, it said. The latest results from Lower Trench include a highlight of 10.78 g/t gold over 3.05m within a broader interval of 4.50 g/t of the yellow metal over 7.62m. The geology where the gold was found was identical to the Michigan Zone, the firm noted. "Tectonic is encouraged to confirm additional Michigan-style gold mineralization in our final results from our successful Summer 2020 drill program at Tibbs," said Eric Buitenhuis, the vice-president (VP) of exploration in a statement on Tuesday. One hole at Lower Trench returned high-grade gold within a broad, lower-tenor mineralized envelope; essentially a carbon copy of mineralization drilled by Tectonic at Michigan this year, 1.5km to the southeast, he noted. "Our 2020 drill holes represent the first test in over 20 years at the Lower Trench target and have significantly advanced our understanding of the structural story at Tibbs and the potential of these structurally controlled gold targets. "The identical nature of the mineralization at the Michigan and Lower Trench targets suggests a well-developed hydrothermal system, which we know is capable of producing high-grade gold mineralization in multiple locations." Looking ahead, Tectonic said further work was required at the Wolverine zone, while there are upcoming drill assays awaited from the firm's Seventymile gold project in Alaska, where six zones were tested. Soil sampling at Tibbs continues, while an induced polarization (IP) survey at the Michigan zone has been completed with results pending. Prospecting and mapping campaigns completed have also been completed at the Maple Leaf and Mt. Harper projects in Alaska with interpretations pending. Contact the author at [email protected]
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