Tectonic Successfully Executes Inaugural Drill Program of the Flat Gold System
We achieved a major milestone in our exploration efforts at Flat 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 Chicken Mountain. We have made significant progress in terms of our understanding of the logistics, operations and geology at Flat. The upcoming 2023 drill assay results will enhance our knowledge even more. With our camp and drills already in place, we are well-positioned to leverage the knowledge and lessons learned from the 2023 program and achieve even greater success in the 2024 drilling season.
Tectonic Reports Gold Recoveries To 96.8% From Coarse Crush Bottle Rolls Warranting Investigation Into Heap Leaching Potential
Our initial metallurgical testing at Flat demonstrated the non-refractory nature of known mineralization to date as evidenced by the exceptionally high gold recoveries through bottle roll testing with minimal cyanide consumption. This, combined with drilled gold mineralization beginning at surface, suggest Chicken Mountain could represent an open pit, heap leach opportunity.
Tectonic expanded its interest in the Flat Gold System by extending its project to incorporate the full network of interconnected geophysical anomalies that indicate six confirmed or potential intrusion related gold systems. Spanning a 20km trend, these intrusion targets are significant in size and interpreted to be bedrock sources for placer gold, reinforcing our belief that Flat is a Tier One Opportunity. It is truly remarkable that our company has access to such a large number of intrusion targets, which would be nearly impossible in a more established, mature, exploration and mining district. There is a collective sense of relief and excitement now that we have secured the right to explore the three additional potential intrusions north of the Flat Gold Project.
Crescat Capital Seizes Opportunity with $2 Million Investment in Tectonic Metals Ahead of Drills Turning at Flat Gold Project
Crescat Capital LLC and Tectonic received approval from disinterested shareholders at the Company’s Annual General and Special Meeting on September 21, 2023, as well as TSXV approval, for Crescat to become a Control Person as defined by the Securities Act and in the TSXV’s policies. This allowed Crescat to expand its ownership beyond 20% of the issued and outstanding shares in the capital of Tectonic Metals and invest a further $0.6 million.
Executing with a Mine in Mind: Tectonic Advisory Committee Formed
Tectonic’s investment and exploration philosophy has always been focused on the discovery and development of economic mining opportunities. To this end, Tectonic established its Technical Advisory Committee in August attracting leading exploration and mining experts.
Tectonic Defies Market Gravity to Close Oversubscribed Offering
Despite challenging market conditions, the Tectonic team delivered with the help of its strategic shareholders, Crescat Capital and Doyon, Ltd., to raise C$8.2 million from the over subscribed offering and early exercise warrant incentive program. These funds were put to work funding the inaugural drill program at the Flat's Chicken Mountain target, and acquiring the remaining potential intrusions north of Chicken Mountain and Golden Apex.
Find Out Why Quinton Hennigh from Crescat Capital and Tony Reda are Smiling
Quinton Hennigh from Crescat Capital sat down with Tony Reda, Tectonic’s CEO, at the Precious Metals Summit in Beaver Creek, Colorado on September 12th to discuss the Flat Gold project. Watch the interview to find out why they are both smiling.
It was a Packed House at the New Tintina Gold Rush Breakfast in Vancouver
Watch the recap of the New Tintina Gold Rush breakfast with Michael Gray, MSc (Economic Geology) of Agentis Capital discussing the compelling opportunities in the Tintina Gold Belt of Alaska and the Yukon Territory. Tectonic Metals Inc. CEO Tony Reda was joined by Scott Berdahl CEO of Snowline Gold Corp., Tara Christie CEO of Banyan Gold Corp, and Scott Casselman of Rackla Metals Inc.
Strong execution through 2023 helped propel Tectonic’s share price which outperformed the TSX-V, the TSX-V Metals and Mining Index, as well as many peers.
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