VSA Morning Miner, 18/01/21
Tectonic Gold (NEX:TTAU)
Tectonic Gold (NEX:TTAU) has provided a drilling update from the second phase of the drilling programme at Mt Cassidy where the first three holes of the allocated ten hole, 1,500m programme have been drilled.
The project clearly demonstrates TTAU’s overarching thesis that explorer’s in Queensland have to date overlooked major potential discoveries due to the fact that erosion and tectonic uplift in this part of the fault trend has not exposed mineralisation. Through the use of geophysics and geochemistry in a fashion that has warranted government support TTAU has identified large scale IRGS systems which are only now being drilled with this new understanding. Previous explorer’s have only looked for the shallower mineralisation consistent with other deposits further along the fault suitable for small scale opportunistic mining. They have therefore ignored the potential which TTAU has now identified below the surface cover.
Initial comments from management are positive and TTAU’s approach appears to be paying off again with visible confirmation of mineralisation again in each of the three drilled holes. This in the form of chalcopyrite.
This newsflow will build on the remaining results from Specimen Hill while TTAU will then return to drill the Southern Copper target.
We reiterate our Speculative Buy recommendation.
Oliver O'Donnell, CFA, Head of Research & Natural Resources Analyst | T: +44 (0)20 3617 5180 | E: oodonnell@vsacapital.com
Paul Renken, Senior Geologist | T: +44 (0)20 3005 5011 | E: prenken@vsacapital.com
VSA Capital Research | T: +44 (0)20 3005 5000 | E: research@vsacapital.com
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