VSA Morning Miner, 23/06/21
Tectonic Gold (TTAU NXX)
Tectonic Gold (AQSE:TTAU) has provided an update on recent mapping and sampling work which is being used to build on the last phase to plan the next phase of drilling. Previously TTAU had defined a 4km strike and the recent data appears to firm this up with the latest samples providing targeting information for infill drilling.
Positive gold and copper assay results were returned from two sites, one known to have been worked artisanally since before WW1. This known as the Goldsmith’s Reef contains narrow high grade veins of more than 40g/t gold while TTAU’s assay yielded 5.42g/t Au, 0.01% Cu and 0.57g/t Ag at surface and from the underground mineralised structure within the workings 1.1g/t Au, 1.39% Cu and 21.8g/t Ag. Mapping of these structures underground confirms continuity from surface.
The second site, which is a new discovery known as Overshoot, 3km southwest of South Copper (the exciting copper porphyry target which TTAU intends to drill and test to depth in this round) yielded 0.7g/t Au, 2.6% Cu and 6.23g/t Ag.
TTAU’s mantra is to approach exploration methodically and derisk as much as possible ahead of drilling, this has been the focus over the past few months and now the company is gearing up to commence the next phase of drilling which we expect to provide new potential catalysts for the share price.
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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