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VANCOUVER, BC / ACCESSVIRE / December 5, 2022 Tectonic Metals Inc. (TECT:TSKS-V)(TETOF:OTCKB(T15B:FSE) (the “Company” or “Tectonic”) today announced the completion of the Company’s inaugural field program at the Flat Gold Project (“Flat”), a bulk gold project located in the Kuskokwim Mineral Belt in southwest Alaska, some 40 kilometers ( “km”) north of the Donlin Gold Project.
Tectonic’s surface field program at the Flat represents the first exploration work on the property in more than 20 years and consisted of ground data establishment, channel sampling/capture of historic bedrock exposures and mechanical excavation and sampling of new trenches in the main Flat area, Chicken Mountain (“CM”), which consists of a 3800 meter (“m”) long and up to 600m wide gold anomaly in the ground.
A link to detailed maps of Tectonic’s 2022 trenching program can be found here.
Tony Reda, President and CEO of Tectonic, commented: “Our one goal for the year at the Flat was to build a strong technical foundation that will provide the basis for a comprehensive exploration program, including drilling, at the Flat in 2023. Our work this year included a metallurgical testing program of the historic drill core, complemented by extensive geological, geochemical and geostatistical modelling, historic well core relogging, petrography, trenching, channel sampling, ground truthing, lineament analysis, historical geophysical interpretation and on-site logistics and infrastructure audit. Success next year does not mean only discovering gold but also evaluating those found ounces as accurately as possible in terms of metallurgy and mining methods. We want to put our best foot forward in next year’s drilling program and expect our technical focus in 2022 to increase the value of any ounce found as we continue to drive our exploration strategies in the Flat.
Flat Gold Project – Research Objective
The primary objective of the program was to gain a better understanding of the geological opportunities in the Flat by focusing on the collection of additional geological information and the evaluation of extensive undrilled ground gold anomalies in the CM where historic soils outline open gold in- a ground anomaly extending 3,800mk 600m in orientation north-northwest across the core of an exposed quartz monzonite intrusion. The western parts of the soil anomaly have not been tested by historical drilling and trenching with highlights, including up to 8.8 grams per ton of gold (“g/t Au”) in land and to 3.4 g/t Au in samples of engagement on the surface. In total, 273 m in 3 new trenches were excavated and mapped on the CM target with 180 continuous channel samples and 18 focused grab samples collected. 71 m of channel samples were sampled and mapped and 7 raptors collected an additional 7 bedrock exposures in accessible historic trenches and excavated trenches in the CM area.
Pending a comprehensive exploration program in 2023, the Company has conducted additional surveys to further evaluate surface conditions on the property and investigate accessibility/navigability based on existing infrastructure.
Fig.1 Flat Gold Project, Iditarod Mining District, Alaska
About the Flat Gold project
The Flat Gold Project is a bulk tonne gold project located in southwest Alaska, just 40 km north of the giant Donlin Gold Project, which is equally owned by Barrick and NOVAGOLD and has set a 2022 budget at Donlin of US$60 million (see Barrick press release dated July 28, 2022).
The flat consists of 92,160 acres of mostly Native-owned land owned by Doion, Limited, Alaska’s leading regional corporation and the largest private landowner in the state of Alaska. Doion and Tectonic have entered into a mutually beneficial mineral lease agreement covering all aspects of exploration to production, including fees and ESG provisions. The resulting agreement aligns the interests and expectations of both parties involved, reduces risk, and creates a process that can advance the project from discovery through development and production to final reclamation.
The apartment represents a rare opportunity in a Tier 1 jurisdiction:
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A large gold system with intrusions
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Documented as the 4th largest gold district in Alaska with over 1.4 Moz of gold produced from placer mining*
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55 historical wells at the Chicken Mountain target, all of which intersected mineralization
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Historical drilling shows that mineralization starts at surface and remains open in all directions with an average vertical drilling depth of ~100m
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3,800m long, up to 600m wide, ground gold anomaly (open for expansion)
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Historically mineralized trenches, some of which remain untested by drilling
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An opportunity for new discoveries within the blind parts of the intrusive complex
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In close proximity to a world-class gold deposit (Donlin)
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Located on domestically owned land with a full mineral lease that covers all aspects of exploration through to production, including royalties and ESG provisions
To learn more about the Flat Gold project, click here.
Endnote: *Mineral Occurrence and Potential Development Report, Locable and Marketable Minerals, Inland Marine Resource Management Plan, BLM-Alaska, Technical Report 60, prepared by the US Department of the Interior, Bureau of Land Management, November 2010.
Qualified person
Tectonic’s disclosure of a technical or scientific nature in this press release has been reviewed, verified and approved by Peter Kleespies, M.D., P.Geo., Tectonic’s Vice President of Research, who serves as a Qualified Person as defined in National Instrument 43-101.
To learn more about Tectonics, click here.
On behalf of Tectonic Metals Inc.,
Tony Reda
President and Chief Executive Officer
For further information on Tectonic Metals Inc. or this news release, visit our website at www.tectonicmetals.com or contact Tony Redd, President and CEO of Tectonic, or Bill Stormont, Investor Relations, toll-free at 1.888.685.8558 or by email at info@tectonicmetals .com
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Note Regarding Forward-Looking Statements and Historical Information
Certain information in this release constitutes forward-looking information and statements under applicable securities law. All statements contained in this release that are not statements of historical fact may be considered 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 regarding mineralization potential on Tectonic projects, planned research programs and results of future research activities. The Company makes no representations or warranties as to the accuracy or completeness of any historical data from previous research undertaken by others than the Company and has not taken any steps to verify the adequacy, accuracy or completeness of the information provided herein and, under a number of circumstances, shall be liable for any inaccuracies or omissions in any such information or data, any delays or errors in their transmission, or any loss or direct, indirect, incidental, special or consequential damages caused by reliance on this information or risks arising from the stock exchange.
Forward-looking information is not a guarantee of future performance and is based on a number of management’s estimates and assumptions as of the date the statements are made, including, but not limited to, assumptions about future gold and other metal prices, currency exchange rates and interest rates, favorable business conditions, political stability, obtaining government and other approvals and financing on time, obtaining necessary licenses and permits, stability of work, stability in market conditions, availability of equipment, accuracy of all mineral resources, successful resolution of disputes and expected costs and expenses. Many assumptions are based on factors and events beyond Tectonic’s control, and there is no guarantee that they will prove to be correct.
Although Tectonic believes that these beliefs and assumptions are 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 a number of risks, uncertainties and other factors that could cause future results to materially differ 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 events in the industry; marketing and transportation costs; loss of market; commodity price volatility; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable 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 because there can be no assurance that plans, intentions or expectations set forth will be realized. Such information, although believed to be reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from expectations. Forward-looking statements contained in this press 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 the forward-looking information, there may be other factors that cause results to differ from those expected, estimated or foreseen. 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 undertakes no obligation to update any forward-looking information, except in accordance with applicable securities laws.
Neither TSKS Venture Exchange nor its regulation service provider (as that term is defined in the policies of TSKS Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Tectonic Metals Inc.
See the original version on accesswire.com:
https://www.accessvire.com/729987/Tectonic-Announces-Completion-of-2022-Inaugural-Field-Program-at-Flat-Gold-Project-Alaska
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