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Tectonic Metals stakes 4,800 hectares of new ground in Alaska, acquires valuable data about the region

The 74 claims known as the Maple Leaf Property are located in the Goodpaster district of Alaska, the site of a 2007 multimillion- dollar exploration program by Rubicon Minerals

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Tectonic's Maple Leaf property is located near its Tibbs gold project in Alaska

Tectonic Metals Inc (CVE:TECT) expanded its ground in Alaska with the addition of a collection of 74 mining claims known as the Maple Leaf Property.

The property is located within the prolific Goodpaster mining district and lies around 15 kilometres from Tectonic’s Tibbs gold project and 50 kilometres east of the producing Pogo mine.

The Vancouver-based explorer also acquired a comprehensive data set that contains non-public data about the projects and the greater Goodpaster district from Rubicon Minerals (TSE:RMX), which explored the area as part of a $3 million multiphase exploration program 2007.

READ: Tectonic Metals launches non-brokered private placement financing to fund upcoming drill programs

Rubicon’s data includes diamond drill logs and core as well as other geological information. Results from the program, which covered multiple prospects, is included in the data set.

"The Rubicon dataset was assembled during a period of intense exploration activity in the Goodpaster District, similar to what we're witnessing in the area today,” said Tectonic’s vice president exploration Eric Buitenhuis.

“A large amount of data and information relating to mineral properties in Alaska is non-public and privately held, and by acquiring this data, Tectonic gets a jump start in analyzing the Maple Leaf property.”

The Maple Leaf property shows potential for intrusion-related mineralization within a favourable structural corridor, according to Buitenhuis. It lies along the northeast extension of the Black Mountain tectonic zone, an important structural corridor that hosts mineralization at Tectonic's Tibbs Project and Northern Star's Brink prospect, which is located 10 kilometres southwest of Tibbs. The 74 claims cover nearly 4,800 hectares that include known high-grade gold prospects that have seen very little exploration work, according to Tectonic.

The “robust and reliable” historic data will allow Tectonic to fast-track work at the Maple Leaf property and refine the company's understanding of the regional controls on mineralization, according to a statement.

“Tectonic is excited to apply our understanding of structurally-hosted mineralization to analyze the project and other accretive opportunities in the district,” Buitenhuis added.

Under the terms of the acquisition, Tectonic agreed to issue Rubicon 300,000 shares of the company. The deal is subject to final acceptance from the TSX Venture Exchange.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

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Price: 0.255 CAD

TSX-V:TECT
Market: TSX-V
Market Cap: $22.91 m
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