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Tectonic Metals brings former Kaminak Gold executives together to advance a new set of mineral assets in Alaska

Snapshot

They helped to spearhead the development of the Coffee gold project in Yukon before Kaminak was bought by Goldcorp for C$520M in 2016

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Quick facts: Tectonic Metals

Price: 0.23 CAD

TSX-V:TECT
Market: TSX-V
Market Cap: $12.7 m
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  • Mineral exploration company targeting discovery stage, district-scale opportunities
  • Portfolio of assets along the Alaska-Yukon border in a highly prolific gold district
  • Management team of former Kaminak Gold executives who led the development of the Coffee gold project until its C$520 million sale to Goldcorp

What Tectonic Metals does:

The team behind Kaminak Gold’s C$520 million sale is at it again with Tectonic Metals Inc (PRIVATE), a mineral exploration company with a portfolio of assets poised for discovery.

Founder Eira Thomas and CEO Tony Reda, both former executives at Kaminak, helped to spearhead the development of the Coffee gold project in Yukon, Canada before the company was bought by Goldcorp - now Newmont Goldcorp - in 2016.

Having combined forces with Tectonic’s founder Curtis Freeman, the team is confident that its package of assets in Alaska’s prolific Tintina gold belt have the same potential to uncover a new gold deposit that will attract major attention.

The jewel of Tectonic’s portfolio at the moment is the Tibbs project, where high-grade gold was discovered in trenches. Highlights of the historic drill results include 57.1 grams per ton gold over 1.5 metres and 31.4 grams per ton over 0.3 metres.

That high-grade gold intercepted in historical shallow drilling is being reinterpreted by Tectonic and is currently being drilled out.

Other highlights of Tectonic’s package include the Seventymile and Northway projects, the latter of which lies near Royal Gold’s Peak Gold project, currently valued at nearly US$400 million pre-tax with an internal rate of return of 37%, according to a 2018 prefeasibility study.

Both projects are under partnership with Doyon Limited, an Alaska Native regional corporation with 12.5 million acre of land and a long history of mineral agreements with junior and senior companies.

Seventymile is a 40-kilometre-long gold belt that lies in a newer gold district near the Alaska-Yukon border where Tectonic hopes a geoprobe drill program will generate new drill targets.

Tectonic’s core business model? Play big. The explorer wants to create wealth for its shareholders from the ground up using a risk-averse strategy in world-class, pro-mining jurisdictions.

How is it doing:

The privately-owned firm is planning to list on the TSX Venture Exchange having undertaken a C$5 million financing back in May 2019. The float is intended to see all shareholders at the same cost base with the freely traded offering stock.

The funds from the offering will contribute to advancing four high potential gold projects, where up to three projects will be drill tested in 2019.

At Tibbs, the company is following up historical high-grade gold intercepts with a 2,400 metre rotary air blast drilling program consisting of 100-metre long angled drill holes in fences to cross veins and structures.

Tectonic is keeping its shareholder value in mind with drill programs on the Seventymile and Northway projects that cost on average around C$500,000 each.

Current exploration at Northway aims to determine drill collar locations at two targets on the property.

Inflection points:

  • Initial public offering on the TSX Venture Exchange
  • Results from Tibbs drill program expected soon
  • Further drilling results from programs at Seventymile and Northway

What the bosses say:

In a statement at the time of May's financing, Tectonic President & CEO, Tony Reda, commented: "It was clear from day one that Eira, Rob, Curt and I shared a passion for mineral exploration and discovery and the desire to bring something different to the mineral industry.  Now that we had a taste of what it takes to discover and advance a multi-million ounce gold district, we are hungrier than ever to not only do it again, but to do it better on every front imaginable.  Now is the time for us to share that vision, passion and enthusiasm with the world on a larger stage."

Tectonic founder, Eira Thomas added: "Exploration is the lifeblood of the mining industry, and where the most value can be leveraged for shareholders through the success of discovery. Tectonic brings together a strong, experienced team and top tier assets in highly rated, under-explored, first world jurisdictions.”

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

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on 5/12/19

4 min read