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VSA Morning Miner - Tectonic Gold

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VSA Morning Miner, 11/02/19

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Tectonic Gold (LON:TTAU)

Tectonic Gold (TTAU LN) has announced results from its Stage 1, 1,500m drill programme at Specimen Hill. The primary aim of this drilling was to confirm the viability of exploration methodology including the use of modern geophysics techniques such as Sub Audio Magnetics and DIAS – 3D IP technology. The results which have intercepted gold mineralisation in the known shallow epithermal vein style mineralisation have confirmed this along with porphyry style mineralisation intercepted at depth. TTAU previously announced that porphyry style mineralisation was intercepted from 230m.

Highlights from the programme include:

  • 0.8m at 1.23g/t Au, 151g/t Ag and 153g/t Te from 14m,
  • 0.9m at 2.15g/t Ag, 0.31g/t Ag and 9.79g/t Te from 6.3m,
  • 1m at 8.25g/t Au, 1.37g/t Ag and 19.95g/t Te from 80.2m
  • 1.6m at 5.79g/t Au, 20.76g/t Ag and 3.27g/t Te from 90.4m including 0.25m at 35.2g/t Au, 37.2g/t Ag and 15.15g/t Te from 90.4m.

 
These shallow epithermal results are not the primary target for TTAU which is targeting large scale porphyry targets at depth. Indeed, the most encouraging aspect from these results is the presence of porphyry indicator elements within the assays including high grades of molybdenum, tellurium, silver and copper. With the follow up stage 2 programme of 7,500m being planned we expect TTAU to begin to explore the larger scale targets at depth now that the initial drilling has confirmed the viability of the exploration techniques.

We reiterate our Speculative Buy recommendation.

 

 

 

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