Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Extract from 29th March RNS:
“ The half year to December 2022 saw a significant milestone for the Company with the successful completion of our drilling campaign at Specimen Hill. After fires, floods and COVID over the past few years, access to drilling rigs and crew was limited, but we managed to secure a team to complete core testing of the continuity of mineralisation below the old Goldsmith’s Reef mine. Assays returned grades of over 8g/t gold and 5.99 g/t silver at 110 meters down hole, with additional intersections at 240 meters. Goldsmith’s Reef is approximately mid-way along the 4km+ strike that has delivered multiple discoveries for Tectonic between the Main Lodes historic mine in the northeast where we started field work and the Southern Copper discovery in the southwest which is our most recent rediscovery.
With positive gold and copper assays from diamond drilling now confirming continuity of mineralisation, we have been able to extend our database and attract parties into due diligence to discuss a farm out investment into the project. This is well underway and we hope to report progress in the coming weeks. Our objective is to have a well-funded group complete initial resource definition on Specimen Hill with a view to developing it as a copper-gold mining project. Tectonic will utilise all of the experience from Specimen Hill in prosecuting our next project area, Mt Cassidy. This is another textbook IRGS target which has historic workings and drilling. We have conducted our advanced geophysics reconnaissance and identified major structures below the old workings which we expect to see continuity of mineralisation at depth in. We are also in discussion to take our IRGS expertise into international gold exploration opportunities.”
Really good to see the first hole finally completed. Also the unplanned second hole seems very encouraging… The warrants news is also very positive IMO.
Roll on the assay results with a potential JV to follow. IMO that’s when we will finally see the share price movement we are all waiting for…
Janalan,
Your postulation appears to imply that the actions of a “very expectant interviewer” should be of a greater consideration to investors than the trust of the two incumbent CEOs of Kazera & Tectonic and their respective regulatory company updates and recent interviews. Not saying that you view/opinion is wrong, just find it a bizarre lens on investing.
GoldJunior,
I assume it has been completed.
From recent RNSs:
10/06 Ground crew being mobilised in preparation of drilling
27/06 Tracks being cleared.
And for me the most important indication being; “ the Company has decided to extend the warrant exercise date to 30 November 2022. It is anticipated this will provide sufficient time to have the drilling completed and assays processed for reporting.” If they haven’t already drilled, the exercise date will probably be need to be extended again.
AIMHO
I agree, but also don’t underestimate the importance of the HMS licence. If/when that gets over the line; a 40% stake in a £150 million asset; Profitable within 6 months; A sale of 30%, which according to Brett, will generate around £1 million per year for Tectonic. More than enough for the companies drilling requirements. And therefore removing any need for early stage JVs or share dilution… A potential company maker on its own!
Vidaloca,
Good and timely reminder.
The interminable wait goes on… Even though the delays are generally out of the control of Tectonic; COVID, Extreme weather and the SA authorities. It doesn’t lessen the frustration. Fingers firmly crossed for potentially company making news by the end of August…
Fiat, I totally agree.
Also as stated by Brett; with regard to the HMS - Tectonic will have 40% ownership of a £150 million asset!
Plus a further HMS licence permit has been submitted for an area 34 times larger… That’s potentially a £5.2 billion asset.
“ Tectonic Gold plc (TDIM: TTAU), the Intrusive Related Gold (“IRGS”) exploration pioneer, is pleased to announce the successful renewal of its Australian Federal Government Research and Development Tax Incentive Scheme participation for the 2021 tax year.
Highlights:
Tectonic successful in renewal of R&D status for IRGS research program
$275,000 cash rebate estimated with funds expected before year end
Current field work and analytics expected to have continued participation in 2022 and beyond
Mr. Brett Boynton, Managing Director – Tectonic Gold Plc
“This is a very important result as we present Specimen Hill to a number of major copper and gold mining groups. The Australian Federal Government has supported us with in excess of $3 million in direct cash funding since the inception of our research program. Tectonic is a technology driven business and we are at the forefront of innovative new thinking in the Australian exploration industry.””
Tectonic Gold plc (TDIM: TTAU), the Intrusive Related Gold System (“IRGS”) explorer, is pleased to announce completion of the Specimen Hill drilling campaign and initial results from Goldsmith’s Reef.
Goldsmith’s Reef was last mined in around 1920 and returned high grades. It is approximately 700m along strike, west of Main Lodes. Drilling was planned to demonstrate continuity of mineralisation from Main Lodes to Goldsmith’s Reef, proving the scale potential of the Specimen Hill system and also to test grade below the historic workings. Shallow underground mining at Goldsmiths worked three parallel veins running 3m to 6m in width within a 30m wide mineralised corridor, making this an attractive open pit opportunity.
Highlights:
Drilling intersected vein sets at 44m and 127m depth returning grades of 3m at 2.14g/t gold and 3m at 4.4g/t gold respectively, including 1m at 5.76g/t gold
The final hole planned to test an apparent feeder zone at 250m was suspended at circa 120m when we had to demobilise due to weather, but the hole has been cased and capped and will be completed as soon as we remobilise
Sample chip trays have been couriered to Sydney for head office team to conduct further analysis with independent experts
In discussion with multiple copper and gold mining companies on potential partnership at Specimen Hill
More assays to follow over the next few weeks
Mr. Brett Boynton, Managing Director – Tectonic Gold Plc
“This is a very important result as we present Specimen Hill for partnership discussions. Previous drilling from 2018 onwards has proven mineralisation in disparate zones within the system, but this round now begins to stitch it all together in a much, much larger potential resource.
Border restrictions prevented the Sydney team from joining the field program this time, so we have had the sample trays couriered down to head office and will begin to analyse these next week. We are particularly interested in the native copper reported in the field logs at Southern Copper. We are seeing a textbook metal zonation with gold dominant in the east around Main Lodes and to Goldsmith’s Reef, then copper emerging and dominating as we move west. The system as a whole is presenting somewhat like a herring bone with smaller cross cutting faults along the major fault line and at these intersections sites like Goldsmith’s, with better geological plumbing delivering greater mineralisation.
Every time we get into the field at Specimen Hill we extend the system and there is certainly plenty more to do, but we have generated a lot of information with this campaign and hope to progress quickly to a partnership so we can accelerate the program rapidly in the new year.”
Video already out:
https://twitter.com/AmonkMonkey/status/1436312474949767172?s=20