Tectonic Metals Inc. Drills New Gold Discovery: 65.5 Metres of 1.2 G/T AU

03.03.2025  |  ACCESS Newswire

Including 6.1 Metres of 6.0 G/T AU With 1.5 Metres of 21.7 G/T AU; Drilled Mineralized Strike Now 3KMS and Still Open

Tectonic Metals Inc. (TECT:TSX-V) (TETOF:OTCQB) (T15B:FSE) (the "Company" or "Tectonic") today announced a significant newly drilled gold discovery at the 1.5 kilometre ("km") by 0.5 km Alpha Bowl target, extending the confirmed mineralized strike length of the Chicken Mountain gold system from 2 km to 3 km. To date, all 86 holes drilled at Chicken Mountain intersected gold mineralization (a 100% drill success rate) and all mineralization remains open along strike and at depth. The Chicken Mountain intrusion is one of six kilometre-scale potential gold deposits at Tectonic's Flat Gold Project ("Flat"). These latest assay results from the Company's 2024 drill program further validate Flat's potential to be Alaska's next tier-one gold asset.

Strategically located just 40 kilometers north-east of the Donlin Gold Project ("Donlin") - a 39 million ounce gold deposit¹ jointly owned by Barrick Gold Corporation (GOLD: NYSE; ABX: TSX) and NovaGold Resources Inc. (NG: TSX; NG: NYSE) - Flat is the next most advanced gold asset in this established tier-one gold district. Notably, Donlin's owners recently announced a USD $43 million exploration budget for 2025², highlighting the continued investment and confidence in the advancement of this gold project and region.

Figure 1.0: Alpha Bowl Discovery Drill Hole Assay Results - Collared and Ending in Strong Gold Mineralization, Including Grades Up To 21.72 G/T Au

Assay results reported use the average grade derived from assaying up to five unique 500g sample splits using all available sample material. All widths are interval widths as insufficient data exists currently to determine true zone widths. Select composites utilizing 0.10, 0.30 or 0.50 g/t Au cut-off with maximum 3.1m continuous (two sample) below cut-off inclusion.

Tony Reda, President & CEO of Tectonic Metals, commented: "Alpha Bowl is an exciting new drilled gold discovery and a game-changer for our Flat Gold Project. Tectonic's maiden drilling confirms gold mineralization in every hole, with assays reaching up to 67 g/t Au, underscoring the exceptional tenor of this system. The scale of Alpha Bowl is extraordinary - spanning 1.5 km by 0.5 km and extending the Chicken Mountain gold system's strike length to 3 km and open. What also excites us is that we have now confirmed the bedrock source responsible for the 650,000 ounces of historic placer gold shedding from this area - an extraordinary feat given that this drilling was our first attempt and conducted in a geologically blind environment at relatively shallow depths. If we can delineate such a compelling gold discovery with limited RC drilling, one can only imagine what a deeper, more systematic diamond drill campaign could unveil. We are merely scratching the surface of what could be the most transformative development in the history of the Flat Gold Project."

Peter Kleespies, Vice President Exploration of Tectonic Metals, stated: "The 2024 exploration drill program results continue to demonstrate the scale of the Flat Gold system and potential for uncovering a significant gold resource at the property. The results from the Alpha Bowl drilling are especially encouraging, and evidence of a continuously mineralized intrusion-related gold system extending over 3 kilometres is beginning to emerge. Furthermore, the relationship between low magnetic susceptibility zones and intrusions identified by recent Tectonic 3-D inversion of magnetic data has been validated in areas of no bedrock exposure and presents an excellent exploration vectoring tool for blind to surface discoveries as we continue to explore the extent of mineralization at the six intrusion targets identified at the property. The time has clearly come to expand our efforts at Flat to fully realize the resource potential of the mineralization identified to date but also to continue to make new discoveries as we deepen our geological understanding of the overall Flat gold system."

Tectonic Alpha Bowl Drilling Discovers Bedrock Gold Source Underlying 650,000 Oz of Historic Placer Gold Production³

• 2024 Drilling Confirms High-Tenor, Nuggety Gold Linked to Flat Creek's Bedrock Source; see Figure 2.0 Drill Assay Table Below: 2024 Alpha Bowl drilling revealed instances of high gold tenor and coarse gold distribution, closely associated with increased quartz veining. The 2024 drill results are consistent with a 1992 Alaska Department of Natural Resources & United States Geological Survey report⁴ that described "gaudy gold-quartz veining" observed by historical placer miners in the upper stripping (i.e. surface lode mining) at Flat Creek which is vastly different than the finer, "oatmeal flake-sized" gold found in other Chicken Mountain placer drainages. This further supports the conclusion that Tectonic has identified the bedrock source of Flat Creek's historic placer gold endowment.

Alpha Bowl Drill Highlights

• High-Grade Assay Results Confirm Coarse, Nuggety Gold at Alpha Bowl: Demonstrating the coarse, nuggety gold nature of mineralization at Alpha Bowl, one of five assay RC splits (see Figure 2.0) returned:

  • 65.53m at 2.13 g/t Au, including:

    • 18.29m at 5.93 g/t Au

    • 6.10m at 17.41 g/t Au

    • 1.52m at 67.18 g/t Au

  • Tectonic presents the higher-grade results (65.53m at 2.13 g/t Au, including 18.29m of 5.92 g/t Au) to illustrate the coarse nature the gold at Alpha Bowl. These exceptional grades reinforce Tectonic's confidence in the Alpha Bowl system, suggesting the presence of bonanza-grade zones and a higher gold value per tonne-both critical factors in enhancing the economic potential of a deposit.

Figure 2.0: Alpha Bowl Discovery Drill Hole 2^nd Split Assay Results Highlighting Coarse Gold With Grades Up To 67.18 G/T Au⁺

+ Refer to Figure 1 for the reported average grade derived from assaying up to five unique 500g sample splits. Figure 2 represents one of the 5 sample splits and is presented to illustrate the coarse nature of gold distribution at the Alpha Bowl discovery.

The assay results reported above are from a second 500g sample split. All widths are interval widths as insufficient data exists currently to determine true zone widths. Select composites utilizing 0.10, 0.30 or 0.50 g/t Au cut-off with a maximum 3.1m continuous (two sample) below cut-off inclusion.

• All five holes collared and ended in gold mineralization delineating a 250m x 200m mineralized area down to a maximum vertical depth of 100 m or 128 m drill hole length. Mineralization is open for expansion in all directions.

• 3 kms of drilled mineralized strike: the southernmost drill hole at Alpha Bowl is over 800m from nearest Chicken Mountain drill collar location (DDH97-02CM), which intersected 4.57 g/t Au over 7.01m With the completion of the 2024 drilling at Alpha Bowl, the total length of mineralized drilled strike at Chicken Mountain is over 3 km and remains open along strike and at depth.

• Northern extension of Chicken Mountain: all holes intersected intrusive rocks from collar. RC chip microscopic examination and four acid multi-element geochemistry assaying of RC chips indicate that the intrusion intersected at Alpha Bowl is identical to the intrusive phase (quartz-biotite syenite) present at Chicken Mountain and represents the northern extension or "nose" of the Chicken Mountain intrusion, typically a very prospective location for higher-tenor gold mineralization in these types of systems.

• Multigenerational veining and overprinting can lead to grade enrichment and is consistent with gold mineralization typically found at the nose of the intrusion. Alpha Bowl appears to have an abundance of quartz veining, shearing and structural deformation mineralization coinciding with multigenerational veining and multiple mineralizing events potentially resulting in overprinting and grade enrichment.

• Low magnetic susceptibility validated as a powerful exploration tool: Drilling at Alpha Bowl specifically targeted a zone of low magnetic susceptibility zone based on the observed relationship between zones of low magnetic susceptibility and favourable intrusions with gold mineralization identified by recent Tectonic 3-D inversion of magnetic data. With the Alpha Bowl discovery, this approach has been validated in areas of no bedrock exposure and is now a validated exploration vectoring tool for identifying areas of gold mineralization, and more specifically, blind to surface discoveries. At Flat, the low magnetic susceptibility zone is over 8 km in length and 2.5 km in width starting beyond the very south end of the Chicken Mountain intrusion, extending through Alpha Bowl and northward into Golden Apex.

• Alpha Bowl and Chicken Mountain Presentation, including drill plan maps can be found Here

2024 Chicken Mountain Drill Highlights and Key Findings:

• Expansive 3 kilometres of Mineralization Validating Bulk Tonnage Open-Pit Mining Opportunity: The drill results reported herein extend the total strike length at Chicken Mountain to 3 km, with mineralization starting at surface with little to no overburden extending to a vertical depth of 325m. Chicken Mountain remains open in all directions, offering significant expansion potential with relatively easy additional drilling, further validating the opportunity for a large-scale, bulk-tonnage open-pit mining operation.

• Heap Leachable Mineralization: Most holes intersected oxide gold mineralization hosted in leucrocratic quartz monzonite, same host rock used in Tectonic's recent heap leach column tests, which yielded 96% and 91% gold recoveries using coarse ¾ inch crushed material of mixed oxidized and non-oxidized fresh rock.⁵ Heap leaching is one of many gold extraction methods amenable to the mineralization at Chicken Mountain. The average grade of many heap leach mines throughout the world is 0.51 g/t Au⁶, and more notably, Kinross Gold Corp. (TSX: K, NYSE: KGC) Fort Knox Mine in Alaska processes 0.30 g/t Au profitably⁷.

• Drilling Identifies Higher-Grade Corridors Within Expansive +100m Mineralized Drill Holes, see Figure 3.0 and Figure 4.0 for 0.10 g/t Au vs 1.00 g/t Au gold grade cut-off comparison.

• Figure 3.0: Chicken Mountain Plan Map and Long Section. Drill collar locations and drill-hole mineralized composites above a 0.10 g/t Au grade cut-off.

Figure 4.0: Chicken Mountain Plan Map and Long Section. Drill collar locations and drill-hole mineralized composites above a 1.00 g/t Au grade cut-off. All gold greater than 1.00 g/t Au denoted by the purple cylinders.

• Notable intercept from CMR24-020 include:

  • 10.67m at 0.99 g/t Au, 12.19m at 1.07 g/t Au and 39.62m at 0.81 g/t Au contained within a broader 152.40m interval at 0.56 g/t Au, ending in mineralization.

• Complete Assay Highlights from the 2024 RC Drilling at Chicken Mountain Found Here

The Flat Gold System - Alaska's Next Tier 1 Opportunity

The Flat Gold Project spans 99,800 acres of predominantly Native-owned land belonging to Doyon Limited, one of Alaska's largest Native Regional Corporations, which has invested over $4M in Tectonic Metals, endorsing exploration on their land. Flat hosts bulk-tonnage, intrusion-related gold mineralization, comparable to the Fort Knox gold mine. It is recognized as a prime example of the direct relationship between placer gold and bedrock sources. Placer gold shed from intrusions has led to 1.4 Moz of placer gold production. Notably, the project has achieved a 100% drill success rate to date, with gold intersected in all 86 drill holes at Chicken Mountain.

1. Donlin 2021 NI 43-101 Technical Report. Tonnage: 541,337kt at 2.24g/t Au. Measured & Indicated: 39,007koz Au. Assuming an average recovery of 89.5% and average 5% grade of 1.07, the marginal gold cut-off grade is 0.47 g/t. Gold price of $1,200/oz is assumed.

2. Novagold Corporation. (2025). 2025 activities and next steps: Donlin 2025 budget of $43 million. From Fiscal Year End 2024 Report.

3. Placer production figures from "Mineral Occurrence and Development Potential Report, Locatable and Salable Minerals, Bering Sea-Western Interior Resource Management Plan, BLM Alaska Technical Report 60", prepared by the U.S. Department of the Interior, Bureau of Land Management, November 2010.

4. Bundtzen, T.K., Miller, M.L., Bull, K.F., and Laird, G.M., 1992, Geology and mineral resources of the Iditarod Mining District, lditarod B-4 and eastern B-5 quadrangles, southwestern Alaska.

5. Please refer to Tectonic's?news release ?dated September 19, 2024 for metallurgical testing.

6. Average Grade of Many Heap Leach Mines Per 3L Capital Thematic Note: Sourvenir, M., & Therrien, S. (2025, January 6). Heap leach and reap: The low-cost solution for low-grade ores, Analyst report, 3L Capital.

7. Fort Knox Dec. 31, 2022 Annual Mineral and Resource Statement. Proven & Probable Mineral Reserves 1,935koz Au. Mineral Resources are estimated at a cutoff grade of 0.30 g/t Au.

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Qualified Person?

Tectonic Metals' disclosure of technical or scientific information in this press release has been reviewed, verified and approved by Peter Kleespies, M.Sc., P.Geo., Vice President of Exploration, who is a Qualified Person in accordance with Canadian regulatory requirements set out in National Instrument 43-101.

The analytical work for the 2024 Flat drilling program was performed by MSA Labs (MSA) an internationally recognized and accredited analytical services provider, which is independent of Tectonic. All RC chip samples were submitted to MSA's Prince George, British Columbia facility where the entire sample was dried, crushed as required and riffle split into 500 g subsamples for analysis (prep code CRU-CPA). Sample splits were then analysed for gold using PhotonAssayTM (CPA-Au1). A second 500 g split was taken and analyzed for gold using PhotonAssayTM (CPA-Au1) for select holes and up to 3 additional 500 g splits were taken for select samples and analyzed for gold using PhotonAssayTM (CPA-Au1). The assays from each sample for which multiple splits were analyzed were combined for the final reported values.

QA/QC procedures for the drill program included insertion of a certificated reference material every 20 samples and a field duplicate sample (split of the 1.5 m original sample) every 25 samples. All QAQC control samples returned values within acceptable limits

Samples are placed in sealed and security tagged bags and shipped directly to the MSA facility in Prince George, British Columbia.?

On behalf of Tectonic Metals Inc.,

Tony Reda
President and Chief Executive Officer

For further information about Tectonic Metals Inc. or this news release, please visit our website at www.tectonicmetals.com or contact Jesse Manna, Investor Relations, toll-free at 1.888.685.8558 or by email at jesse@tectonicmetals.com

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 factors 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.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Tectonic Metals Inc.