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TECTONIC METALS INC. (TECT.V)

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Company description

Tectonic Metals Inc. (TECT:TSX-V; TETOF:OTCQB; T15B:FSE) is a mineral exploration company backed by one of Alaska’s largest Native Regional Corporations and sophisticated, highly-regarded resource funds. Tectonic is focused on the acquisition, exploration, discovery and development of mineral resources from district-scale projects in politically stable jurisdictions.

Tectonic Metals is operated by an experienced and well-respected technical and financial team with a track record of wealth creation for shareholders, as key members of the Tectonic team were involved with Kaminak Gold, raising C$165 million to fund the acquisition, discovery and advancement of the Coffee Gold Project in the Yukon Territory through to the completion of a bankable feasibility study before selling the 5Moz gold project to Goldcorp (now Newmont) for C$520 million in 2016. Key people within Tectonic are founder, President & CEO Tony Reda, founder and Strategic Advisor Eira Thomas and Chair Allison Rippin Armstrong.

CEO Tony Reda was the VP Corporate Development for Kaminak, a company where he basically worked for his entire career from 2005 to 2016 until the buyout. He was instrumental in raising C$165M, arranging JV’s/strategic alliances, and overseeing IR and marketing at a high level, as Kaminak was chosen as one of four companies out of 1,971 TSX Venture companies as Best IR by IR Magazine in 2015. He puts his money where his mouth is and invests all his time and energy into making Tectonic a success.

Chair Allison Rippin Armstrong is a permitting legend in her own right, as she has over 25 years of experience in permitting, regulatory processes and environmental compliance, working with Indigenous organizations, resource companies, regulatory agencies, indigenous, territorial and federal governments. She served as the Vice President of Sustainability at Kaminak Gold Corp. until it was acquired by Goldcorp in 2016. She also serves on the board of Yukon Women in Mining as Vice President for three years, is a founding member of the Yukon University Foundation Board and has served on NWT and Nunavut Chambers of Mines as well as a number of working groups for the PDAC, and has won numerous awards in related fields.

Mining Legend and strategic advisor Eira Thomas was the President and CEO of Kaminak from 2013 until the buyout. Eira comes from a prolific mining family, as her father Grenville Thomas is a Canadian Mining Hall of Famer, as he and Eira discovered Canada’s second largest diamond mine, Diavik. Eira, along with mining titan Lukas Lundin and well-known former colleague Catherine McLeod Seltzer, founded and leads (since 2018) Lucara Diamond.

The exploration angle is provided by Vice President of Exploration Peter Kleespies, who was involved with the discovery and delineation of several large deposits, among those the 10.7Moz Au Hope Bay deposit in Nunavut.
Curt Freeman, who also co-founded Tectonic and serves as Director, brings over 40 years of experience and is considered to be one of the leading geologists in Alaska and the Yukon.
In addition, Tectonic’s board is fortunate and honoured to include Mick Roper, another veteran geologist with 40 years of industry experience, most recently with Agnico Eagle.

Tectonic’s fully owned flagship is the Tibbs project, covering 28,480 acres, 35km east of the 200koz Au per annum Pogo Mine. High grade gold mineralization at Tibbs occurs in veins similar to the Pogo Mine. The Tibbs property is close to existing infrastructure and an active mill, and has seen lots of exploration, ranging from sampling, airborne geophysical surveys, trenching to drilling. Drill highlights are 28.95m @ 6g/t Au, 5.3m @ 15.7g/t Au, 5.7m @ 19.1g/t Au, 1m @ 104.5g/t Au and 5.1m @ 12.45g/t Au.

Tectonic’s second project is the Seventymile project, located 270km east of Fairbanks, Alaska. The property is only accessible by air (small aircraft, helicopter), and in the winter by a winter trail. Seventymile is an orogenic gold system, with lode-style high grade quartz mineralization occuring in shear zones and faults. Highlights are 5.5 g/t Au over 15.0m, 1.1m @ 205.9g/t Au, 6.1m @ 2g/t Au, 19.8m @ 1.37g/t Au and 6.1m @ 4.38g/t Au.

The 100% owned Flat Gold project is Tectonic’s latest project acquisition and is located 40km north from the 45Moz Au Donlin Gold project, jointly owned and operated by Barrick and Novagold. Flat Gold contains 92,160 acres of Native-owned land (Doyon) accessible by air with its 4100 ft. airstrip, which can accommodate a Hercules aircraft, and once on site, there is a network of roads and trails, and materials can be barged to and from via a commercially navigable nearby river. The two main target areas are Chicken Mountain and Black Creek/Golden Horn. Mineralization is hosted in veins and disseminated sedimentary and volcanic rocks, and historic drilling from 1997 returned interesting highlights, like 24.7m @ 12.5g/t Au, 36.6m @ 1.36g/t Au and 31.7m @ 1.28g/t Au.

At a current market cap of just C$10.5M with about C$1M in the treasury, 3 pretty interesting projects with big potential and a formidable, well-known exploration team backed by Alaskans and a roster of respected shareholders, Tectonic presents an attractive value proposition. The company is in the midst of formalizing its exploration plans, and 2022 could be a pivotal year for Tectonic Metals, with several chances at large scale discoveries, which could lead to a substantial re-rating.

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