VSA Morning Miner, 13/08/21
Tectonic Gold (AQSE:TTAU)
Tectonic Gold (AQSE:TTAU) has announced that with COVID restrictions lifted, drilling can resume. The time out of the field has enabled the company to review the existing datasets and extend the current programme to not only complete the previous campaign but add on high priority targets to form a 1,250m programme.
With 4km of mineralised strike identified by TTAU through successive programmes which have so far had a 100% strike rate in terms of intercepting mineralisation the focus is shifting towards closing the net on locating the core of the porphyry system.
Geochemical sampling, mapping and soil sampling combined with the drilling all indicate the presence of a porphyry system. Porphyry’s are typified amongst other things by the combination of gold and copper and the three near term targets cover both. Firstly, the Southern Copper (NYSE:SCCO) target where chip samples yielded up to 2.5% Cu will be targeted to test the known structure to depth, secondly the high grade vein workings of the Goldsmith’s Reef, uncovered by bushfires, where rock samples have shown grades in excess of 5.4g/t Au and 1.3% Cu. This will be the first time this system has been drilled since it was worked in WW1 and will help to demonstrate the potential for a high grade starter pit exploiting the near surface mineralised gold veins which TTAU has so far frequently intercepted in prior campaigns.
Finally TTAU will test the deeper targets drilling to up to 250m attempting to locate the core of the system. So far, TTAU’s methodical and science led approach has helped to build up a strong picture of the deposit style and size along with the geological history. We expect this approach to continue to drive success in the upcoming programme.
We reiterate our Speculative Buy recommendation.
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