VSA Morning Miner, 28/09/21
Tectonic Gold (AQSE:TTAU)
Tectonic Gold (AQSE:TTAU) has announced the completion of the first stage of the current drilling programme and the visible success of the project has prompted management to immediately extend the campaign to follow up on that success. In particular the maiden hole intercepted two mineralised intersections of copper of greater than 20m from 100m and 1,171m deep respectively. These are material intercepts of greater significance than anything that has been drilled to date. PXRF testing has returned high grades giving management strong confidence that this is worthy of immediate follow up work, however, the assay results which are pending will provide the true measure of how important these results are.
The programme will be extended by 14 days and enable management to get a stronger understanding of the structure of the intercepted mineralisation via a scissor hole. This means drilling along strike and into the mineralisation from the other direction to gain a stronger idea of the true width. Other holes in this programme drilled below the Goldsmiths reef have also intersected visible sulphide mineralisation beneath the historic high-grade workings. As a result, a 300m diamond hole has been added to test a target at 250m depth.
This a strong start to the programme and the thickness of the intercepts is consistent with a significant system. Management are clearly excited by what they are seeing on the ground and the decision to immediately follow up is a clear testament to the potential they are seeing. We look forward to the results from the assays.
We reiterate out Speculative Buy recommendation.
Oliver O’Donnell, CFA, Head of Research & Natural Resources Analyst | T: +44 (0)20 3617 5180 | E: [email protected]
Paul Renken, Senior Geologist | T: +44 (0)20 3005 5011 | E: [email protected]
VSA Capital Research | T: +44 (0)20 3005 5000 | E: [email protected]
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