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Tectonic Metals mulls next steps for Northway project in Alaska as it posts drill results

This year's RAB (rotary air blast) drill program consisted of 856 m in eight shallow holes

Tectonic Metals Inc -
The drilling was designed to follow up on favorable first phase top-of-bedrock sampling

Tectonic Metals Inc (CVE:TECT) unveiled drill results from this year's exploration at the Northway project in Alaska, which included eight holes hitting anomalous gold, it said in a statement. 

This year's RAB (rotary air blast) drill program consisted of 856 metres (m) in eight shallow holes and was designed to follow up on favorable first phase top-of-bedrock sampling and guide the firm on the next steps for the project. 

Drilling tested two previously undrilled, over 1 km long soil geochemical anomalies, including a copper-molybdenum-gold anomaly at so-called Target 6 and a gold-copper anomaly at Target 7. 

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

A total of 277.37 m drilled in two drill holes at Target 6 yielded a molybdenum intersection of 52 parts per million (ppm) over 86.87 m in one hole, the company said.

At Target 7, a total of 579.12 m were drilled in six holes, which yielded multiple polymetallic gold, silver, copper, lead, zinc, moly intersections, including 0.60 grams per ton (g/t) gold over 10 m in one hole, with the hole ending in mineralization.

In addition, minor gold, arsenic intervals were intersected in the southern portion of the target.

Notably, all eight drill holes hit anomalous gold values, said Tectonic Metals.

"The Northway Project is an excellent example of how industry, Alaska Native Regional Corporations and local villages can collectively work together towards a common goal," said Tony Reda, chief executive of Tectonic.

He said the project held a "special place in our hearts", given the fantastic people within the community and the Doyon organization that we have the privilege of working with.

"We will continue to interpret the results and the larger regional picture over the coming months to determine the next steps for 2020," he added.

Bisected by the Alaska Highway

The 40 km long Northway Project is bisected by the Alaska Highway on 184,000 acres of land leased from Doyon, which is a top tier Alaska Native Regional Corporation and the largest private landholder in Alaska and one of the largest in North America.

Tectonic and Doyon formed a milestone partnership agreement in the summer of 2018, whereby Tectonic was granted the exclusive right to explore for, develop and mine all minerals, ores and mineral products extracted from the site.

Tectonic is focused on the acquisition, exploration and development of mineral resources from district-scale projects in politically stable jurisdictions.

Shares were unchanged at C$0.22 each.

Contact the author at [email protected]

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TSX-V:TECT
Market: TSX-V
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