Tectonic launches 9,000 m phase 2 drilling at Flat

Executive Summary

• Tectonic Metals launched Phase 2 of its 2025 drill program at the Flat Gold Project, targeting over 9,000 m of drilling (16,000 m total for 2025) with three rigs operating through late October.
• The program focuses on systematic delineation at Chicken Mountain to support a maiden mineral resource estimate and step‑out drilling at Alpha Bowl, building on high‑grade discoveries (e.g., 65.5 m @ 1.2 g/t Au; 41.15 m @ 2.23 g/t Au).
• The company also granted 260,000 incentive stock options to new employees at an exercise price of $1.25 per share.

Key Details

• Program Timeline: Phase 2 drilling commenced 15 Aug 2025; scheduled to run through late Oct 2025.
• Drilling Scope: Two diamond core rigs + one RC rig; target >9,000 m for Phase 2; combined with Phase 1 → >16,000 m total in 2025 (largest drill campaign in company history).
• Chicken Mountain Priority: Systematic section‑based drilling across ~1 km of strike; aims to generate data for maiden resource estimate. Intrusion size ≈6.5 km × 6.0 km with >86 holes drilled, >50% intersecting gold, including two deep (>400 m) holes.
• Alpha Bowl Expansion: Follow‑up/step‑out drilling building on 2024 discovery (65.5 m @ 1.2 g/t Au; includes 6.1 m @ 6.0 g/t Au and 1.5 m @ 21.7 g/t Au) and 2025 Phase 1 result (41.15 m @ 2.23 g/t Au; includes 21.34 m @ 4.00 g/t Au and 4.57 m @ 13.25 g/t Au).
• Exploration Upside: Select drilling on new targets, additional field mapping and prospecting planned.
• Year‑Round Operations Initiative: Significant logistics/infrastructure investment to enable early spring 2026 restart and lay groundwork for year‑round capacity.
• Environmental Stewardship: Development of integrated environmental baseline study program for long‑term planning.
• Stock Option Grant: 260,000 incentive stock options granted to new employees; exercise price $1.25 per share; vesting over 18 months in three equal installments; expires five years from grant date.
• Qualified Person: Peter Kleespies, MSc, PGeo, VP Exploration (NI 43‑101 qualified).

Notable Quotes

“Phase 2 builds on that momentum with systematic delineation drilling at Chicken Mountain … our investments in logistics and infrastructure will allow us to restart drilling as early as spring 2026 and transition Flat closer to year‑round operations.” – Peter Kleespies, Vice‑President of Exploration.