Tectonic Metals Inc (CVE:TECT) has started with gusto with drilling at its Tibbs project in Alaska, reporting one of the "strongest" results to come out of the Goodpaster mining District in years and making a new gold discovery.
The newly public company reported that in its first-ever drill campaign at Tibbs, it had uncovered 6.03 grams per tonne gold (g/t gold) over 28.95 metres (m). The project lies 35 kilometeres away from Northern Star Resources' Pogo mine.
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This highlight intercept was found at the M1 Structure at the so-called Michigan zone, which is one of 21 gold targets presently known about at Tibbs which have potential for near-surface, high-grade, lode gold mineralization.
The firm is using RAB (rotary airblast) drilling for the campaign, which it says is the most cost-effective way of rapidly testing as many of the 21 targets identified at Tibbs as possible.
"This is our first-ever drill campaign, both as a company and at Tibbs, and we could not have asked for a better start," Tectonic president and CEO Tony Reda told investors.
"In just over two years, we moved into the forgotten Goodpaster District and quickly identified Tibbs as an exceptional exploration project that could be advanced cost-effectively and quickly to discovery. The fact that Tibbs is located less than 35 kms from a world-class, operating, high-grade gold mine was a bonus."
Reda added that the 6.03 g/t gold over 28.95 meter assay was "one of the strongest drill results to come out of the Goodpaster Mining District in years".
"Given the broad width, tenor, and scale of the Tibbs Michigan Zone, we are excited to get back in the field and find more gold at not only Michigan but elsewhere on the property now that our knowledge and understanding of how these zones/structures at Tibbs are related has increased."
Tectonic also revealed it had drilled 0.51 g/t of the yellow metal over 12.2 m starting from 39.62 m in another hole at the Upper Trench zone, within a similar northeast-trending, kilometre (km) long deformation zone, 1.5 km northwest of Michigan.
Meanwhile, at the Hilltop/Oscar zone, which lies 3.2 km southwest of Michigan, Tectonic drilled 2.35 g/t gold over 6.10 metres, starting from 45.72 metres in one hole, which is an interval which may represent the offset, northern extension of the high-grade Gray Lead vein system, the company said.
The company's vice-president of exploration Eric Buitenhuis added: "The Tectonic team is very excited with the results of our inaugural drill campaign at Tibbs. The discovery of the M1 Structure at Michigan has validated our newly refined structural interpretation and suggests that additional northeast-trending, kilometre-long structures at Upper Trench, where rock grab samples have returned up to 135 g/t Au, and Wolverine are also prospective for high-angle, mineralized structures previously unrecognized at the project. We look forward to aggressively testing this thesis in 2020."