{australien_flagge}Tennant Minerals (ASX: TMS; FRA: UH7A) is moving ahead at pace with the next phase of exploration drilling about to start at its latest high-grade copper discovery at the Bluebird brownfields project near Tennant Creek in the Northern Territory.
The Company is also aiming for larger scale expansion of its Bluebird discovery by testing a number of other targets outside of bluebird along the identified 5km Bluebird Corridor.
The company has already signed a drill contractor for April to carry out a minimum of an additional 1,500 meters of drilling to expand the discovery. The immediate priority will be to test above and below the spectacular drilling successes of holes BBDD0009 and BBDD0010 (see Figures 1 to 3) as well as step-out to test the extensions of this thick and high-grade copper-gold discovery. As a reminder, the previous phase of drilling had recently returned 50.0m @ 2.70% Cu and 0.52 g/t Au from 158m (downhole) in BBDD0009, including 24.0m @ 5.01% Cu and 1.01 g/t Au from 159m and 35.5m @ 2.58% Cu and 0.27 g/t Au from 194m in BBDD0010, including 18.0m @ 4.74% Cu and 0.50 g/t Au from 197m.
Advanced drone technology tests potential along 5km corridor
Adding to the small-scale expansion of the Bluebird discovery is the larger-scale exploration strategy. For the first time, Tennant Minerals will use modern drone-magnetics technology to better define and prioritize the numerous copper-gold targets already identified within the 5 km potentially mineralized corridor east and west of Bluebird. Historical shallow drill holes have not been able to effectively test these targets. The exploration thesis is that there may be multiple Bluebird repeats along the 5 km structure that may be even larger than Bluebird itself.
Should the step-out drilling extend Bluebird to a strike length of over 200 m (see longitudinal projection, Figure 3), the deposit would already have a similar scale to other large copper-gold deposits in the Tennant Creek mineral field, such as the Peko deposit, located 20 km west of Bluebird, which historically produced a total of 147,000 tonnes of copper grading 4% Cu and 414,000 ounces of gold at 10 g/t Au between 1934 and 1981.
Tennant Minerals Chairman Matthew Driscoll concluded, “We are very much looking forward to continuing this highly successful drilling program at Bluebird to see how large this new copper-gold discovery at Tennant Creek can become.”
Figures 1: Cross section 448.360mE showing BBDD0010 Figure 2: Cross section 448.340mE showing BBDD0011.
Figure 3: Bluebird long-projection showing BBDD0010 & BBDD0011 and proposed drilling penetration points.
Previous detailed gravity surveys indicate that Bluebird is associated with a gravity high that is part of a five kilometer (5 km) gravity anomaly or “ridge”, indicating widespread iron enrichment in the primary zone below the near surface leaching (copper depletion) that penetrates to a depth of over 80 m at Bluebird.
In addition, previous ground magnetic surveys indicate that Bluebird is associated with a magnetic bullseye anomaly seen in recently reprocessed magnetic imagery (see Figure 4). Reprocessing has reversed the apparent polarity of the magnetic anomalies and has now highlighted several positive magnetic features along the strike of Bluebird that are associated with coincident gravity maxima.
Figure 4: Reversed ground magnetic image, showing Bluebird and other magnetic targets in the Bluebird corridor.
The drone magnetic survey will be conducted in early April, immediately prior to the diamond drilling program, to further define priority targets for a larger-scale program of drill testing.
Conclusion: Tennant Minerals may have found the key to revitalizing the historic mining district around Tennant Creek with its discovery at Bluebird. The Bluebird discovery itself represents a comparatively easy target to define that, with appropriate drill holes, could quickly grow to the size of other successful projects in the area. But that is only the obvious upside. In addition, Tennant Minerals is making the well-reasoned hypothesis in its exploration that there may be several more “Bluebirds” along the 5 km corridor. Admittedly, this would be quite a different ball game if the high-grade ore (grade) were combined by significant tonnage (bulk) at best. This is where the true blue-sky potential lies for Tennant Minerals.
Disclaimer: GOLDINVEST Consulting GmbH offers editors, agencies and companies the possibility to publish comments, analyses and news on https://www.goldinvest.de. These contents serve exclusively the information of the readers and do not represent any kind of call to action, neither explicitly nor implicitly they are to be understood as an assurance of possible price developments. Furthermore, they in no way replace an individual expert investment advice, it is rather promotional / journalistic publications. Readers who make investment decisions or carry out transactions on the basis of the information provided here do so entirely at their own risk. The acquisition of securities, especially with shares in the penny stock area, carries high risks, which can lead to a total loss of the invested capital. The GOLDINVEST Consulting GmbH and its authors exclude any liability for financial losses or the content guarantee for topicality, correctness, adequacy and completeness of the articles offered here expressly. Please also note our terms of use.
According to §34b WpHG and according to paragraph 48f paragraph 5 BörseG (Austria) we would like to point out that principals, partners, authors and employees of GOLDINVEST Consulting GmbH hold or may hold shares of Tennant Minerals and therefore a possible conflict of interest exists. We also cannot exclude that other stock letters, media or research firms discuss the stocks we recommend during the same period. Therefore, symmetrical information and opinion generation may occur during this period. Furthermore, there is a consulting or other service contract between Tennant Minerals and GOLDINVEST Consulting GmbH, which means that a conflict of interest exists.
