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VSA Capital Market Movers – Tectonic Gold

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VSA Morning Miner, 23/10/20

Tectonic Gold (AQSE:TTAU)

Tectonic Gold (AQSE:TTAU) has now completed the drill rig access roads and prepared the drill pads ahead of the upcoming campaign and drilling is therefore expected commence in short order. Although the major target of the drilling will be testing for porphyry style mineralisation at depth, overlaying these deposits mineralisation is often found in the form of epithermal veins where mineralised fluid has seeped to surface and leads back to the major porphyry below. Prior drilling has established that this epithermal mineralisation exists at Specimen Hill and the preparation of the drill pads has unearthed fresh mineralisation at surface.

Assaying this mineralisation has yielded high grade sample results of 3.23g/t Au and 45.5g/t Ag along with 3.88g/t Au and 39.5g/t Ag. One sample also returned over 2.5% Cu. Copper and gold is a typical combination for porphyry deposits.

Anticipation is beginning to build with the stock up 50% since the recent placing although at a market cap of just £6.33m the risk reward potential is clear in our view.

We reiterate our Speculative Buy recommendation.

 

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