'We have achieved a major milestone in our exploration efforts with the successful completion of our first-ever drill program. This program has provided invaluable insights into the potential of the Flat Gold System, particularly within the historically drilled area of
Highlights of 2023 Flat Gold Project Drill Program
Upgraded Infrastructure - The 4,100 foot-long airstrip has seen little to no activity in almost 20 years and therefore required maintenance and upgrading to support this year's activities.
Multi-Year
Drill Mobilization - Despite challenging, unforeseen weather conditions impacting visibility and access to the Project, the Tectonic team safely and successfully overcame various obstacles, such as low-lying clouds, thick dense fog, and above average rainfall (+50%) to successfully mobilize workers, equipment, fuel and the diamond and reverse circulating ('RC') drills to site.
Drilling - 19 drill holes of combined diamond and RC drilling for a total of 2,633 metres were completed at
RC Drilling - 1,718 metres of drilling across 16 holes was completed by the RC drill to test new, historically undrilled areas of
Drills Remain On-site - Both the diamond and RC drills have been winterized and retained onsite in anticipation of the 2024 drill season.
Field Mapping and Prospecting - Field mapping/prospecting was performed during the drill campaign, which focused on the relationships between monzonite intrusions, volcanic cap rocks, and hornfelsed Kuskokwim sediments, from
In total, three oriented diamond drill holes totaling 915 metres were drilled over a 500 metre strike length within the core of
Reverse Circulation ('RC') Drilling
In total sixteen RC drill holes totaling 1,718 metres were drilled to test the eastern and western margins of the
Drill Assays
All drill core and RC chip samples have been submitted to ALS Global Facility in
Complete analytical results are expected to be received and announced in a timely and contextual manner anticipated to be in Q1 2024.
The Flat Gold System -
Tectonic is currently assessing the Flat Gold System in partnership with
Tectonic is currently evaluating
Preliminary metallurgical analysis to-date has demonstrated rapid leach kinetics and gold recoveries averaging 95% from bottle roll testing3. This, combined with gold intersections at or near surface, suggest
About
Tectonic brings a highly disciplined capital allocation and development process to mineral exploration. By consistently limiting their focus to tier 1 opportunities that fit their formula for mine economics, and de-risking projects upfront, the team has established a tremendous track record of success. Members of the Tectonic team have been directly involved in identifying and monetizing several significant gold discoveries throughout
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Cautionary Note Regarding Forward-Looking Statements
Certain information in this news release constitutes forward-looking information and statements under applicable securities law. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as 'may', 'should', 'anticipate', 'expect', 'intend' and similar expressions and include, but are not limited to, the potential for mineralization at Tectonic's projects, any future exploration activities and the size; the receipt of any regulatory approvals, including the final approval of the TSXV.
Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental and other approvals and financing on time, obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, accuracy of any mineral resources, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Tectonic, and there is no assurance they will prove to be correct.
Although Tectonic considers these beliefs and assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factrs that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Forward-looking statements necessarily involve known and unknown risks, including, without limitation: the Company's ability to implement its business strategies; risks associated with mineral exploration and production; risks associated with general economic conditions; adverse industry events; marketing and transportation costs; loss of markets; volatility of commodity prices; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; industry and government regulation; changes in legislation, income tax and regulatory matters; competition; currency and interest rate fluctuations and other risks.
Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Although Tectonic has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Tectonic does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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