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DJ Tectonic Gold Plc Research and Development Refund

 
TIDMTTAU 
 
20 November 2019 
 
                               TECTONIC GOLD PLC 
 
                      ("Tectonic Gold" or the "Company") 
 
        RESEARCH AND DEVELOPMENT REFUND AND EXPLORATION PROGRAM UPDATE 
 
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 2018/19 tax year with a refund of $279,275 received by Signature Gold 
Pty Ltd, the Company's 100% owned subsidiary. Signature Gold has an on-going 
research program that has been accredited under the R&D scheme since 2014 and 
during this time has received payments totalling $2.8 million. 
 
Research conducted under the Company's R&D under the program, in collaboration 
with Australia's leading minerals exploration research organisation, the Centre 
of Excellence in Ore Deposits ("CODES"), at the University of Tasmania, was 
published earlier this week. Utilising data from the Company's 2018/19 drilling 
campaign at the flagship Specimen Hill prospect, it confirmed a target porphyry 
source, as predicted by the Company utilising its proprietary IRGS exploration 
research findings. Ten holes were drilled at Specimen Hill in the campaign, all 
of which intersected gold bearing sulphide mineralisation. The Specimen Hill 
prospect remains a high priority Intrusive Related Gold system target and 
follow up drilling is in the planning stage. 
 
Highlights: 
 
  * Tectonic successful in renewal of R&D status for IRGS research program 
    (2018/19 year) 
 
  * $279,275 rebate received from Australian Tax Office 
 
  * Research completed on the 2018/19 drilling campaign has been published 
 
  * Predictive capability of the Company's IRGS methodology has been validated 
 
  * Specimen Hill follow up drilling being planned 
 
During the 2018/19 exploration campaign at Specimen Hill a system testing 
drilling program was completed. Initial assay work confirmed gold bearing 
mineralisation in all holes, validating the predictive capability generated 
through the IRGS research by the Company. This initial analysis was extended in 
a collaborative effort with CODES over the following nine months. It entailed 
further field and laboratory work, extensive geological mapping and utilising a 
number of very advanced techniques such as laser ablation in which mineral 
samples are vaporised in order to conduct detailed chemical analysis. The 
result of all of this work has advanced the research program and enabled the 
Company to progress the Specimen Hill project with targeting for a follow-up 
drilling campaign. 
 
About Tectonic Gold: 
 
Tectonic Gold is a specialist gold exploration company, focused on the 
identification and delineation of large-scale, multimillion-ounce Intrusion 
Related Gold System ("IRGS") assets. Tectonic Gold holds a number of gold 
discoveries in Eastern Australia, a prolific gold region that is home to 
Australia's two largest gold production companies, Newcrest Mining and 
Evolution Mining. 
 
Refer to Company website for JORC Table 1 disclosure. 
 
Mr. Brett Boynton, Managing Director - Tectonic Gold Plc 
 
It is very rewarding as we get to the end of the year to complete a significant 
piece of research and once again validate our initial research insights. The R& 
D program at Signature Gold has been running since 2014 and we are now able to 
confidently utilise this in the field to identify Intrusive Related Gold 
Systems. These exciting results have only been possible through the on-going 
financial partnership of the Australian Federal Government, which has 
contributed $2.8 million in non-dilutive funding.  We are looking forward to 
taking this research success into commercial success in the years ahead. 
 
Qualified Persons: 
 
Mr Jonathan Robbeson - BSc (Hons1), MEconGeol, MMinEng, (CP Geo) is a full time 
employee Signature Gold Limited and is a registered Chartered Professional 
(Geology) with the Australian Institute of Mining and Metallurgy (AusIMM - 
304542). Mr Robbeson has sufficient experience that is relevant to the style of 
mineralisation and type of deposit under consideration and the activity being 
undertaken to qualify as a Competent Person as defined in the Note for Mining 
Oil & Gas Companies, June 2009, of the London Stock Exchange and the 2012 
Edition of the 'Australian Code for Reporting of Exploration Results, Mineral 
Resources and Ore Reserves' (JORC Code). Mr Robbeson consents to the inclusion 
in the release of the matters based on his information in the form and context 
in which it appears. 
 
The Directors of the Company accept responsibility for the contents of this 
announcement. 
 
For further information, please contact: 
 
Tectonic Gold plc                                             +61 2 9241 7665 
Brett Boynton 
Sam Quinn 
www.tectonicgold.com 
@tectonic_gold 
 
NEX Exchange Corporate Adviser and 
Broker                                                       +44 20 7469 0930 
Peterhouse Capital Limited 
Mark Anwyl 
 
Financial Adviser and Broker 
VSA Capital Limited                                          +44 20 3005 5004 
Andrew Raca - Corporate Finance 
Andrew Monk - Corporate Broking 
 
                                     Ends 
 
The information contained within this announcement is deemed by the Company to 
constitute inside information as stipulated under the Market Abuse Regulations 
(EU) No. 596/2014. Upon the publication of this announcement via a Regulatory 
Information Service, this inside information is now considered to be in the 
public domain. 
 
 
 
END 
 

(END) Dow Jones Newswires

November 20, 2019 05:37 ET (10:37 GMT)