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VSA Morning Miner - Tectonic Gold

Published: 09:42 22 Feb 2019 GMT

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Tectonic Gold (LON:TTAU)

 

Tectonic Gold (LON:TTAU) has provided an update its Mt Cassidy project close to Specimen Hill in Queensland, Australia. 15 historic holes had been drilled at shallow depth intercepting gold mineralisation while geochemical analysis was supportive of the theory that the area was host to IRGS style mineralisation. Historic mining had encountered gold bearing veins of up to 15g/t Au.

Over the past year TTAU has been conducting additional exploration at Mt Cassidy which comes under its Federal Government supported R&D programme. This work has been conducted in collaboration with the Centre of Ore Deposit Excellence Studies (CODES). The findings of systematic geological mapping and rock chip sampling demonstrate the likely presence of both VHMS style zinc, gold, silver mineralisation as well as epizonal to epithermal IRGS gold, silver mineralisation.

Rock chip samples yielded grades of up to 30g/t gold, however, the research has demonstrated that the local geological history is somewhat complex with significant deformation of the IRGS system overlain by a large shear system. TTAU is now planning to use the same deep penetrating advanced geophysics techniques, successful used at Specimen Hill, to aid in targeting a drill programme. Following the recently announced transaction we highlight that Queensland remains a core focus of TTAU.

We reiterate our Speculative Buy recommendation. 

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