Tectonic Metals traded at nearly 20 times its daily average volume on Monday, and closed the session at C$0.065 apiece for a market capitalization of C$20 million ($14.6m).
“Tectonic is one of our top ten holdings in the Crescat portfolio. Our support for Tectonic and their Flat project is underscored by us doubling our ownership level to 22.3% in the company last year,” Crescat Capital chief investment officer Kevin Smith said in Monday’s press release.
Dr. Quinton Hennigh, technical director of Crescat, said that the exploration progress at the Flat gold project by Tectonic, which has only one year of drilling under its belt, has the potential to demonstrate the presence of a tier-one gold asset.
“Recent metallurgical test results indicate gold mineralization appears to be free-milling and readily amenable to low-cost heap leach processing. Such a large, metallurgically friendly deposit is highly desirable to an industry…
