{australien_flagge}Tennant Minerals (ASX: TMS; FRA: UH7A) has most likely revealed only the smallest part of a much larger system with its outstanding Bluebird copper-gold discovery (63 meters grading 2.1% copper and 4.6 g/t gold) at Tennant Creek in the Northern Territory. This is supported by new drone geophysical data now released by the company for the first time.
{australien_flagge}Tennant Minerals (ASX: TMS; FRA: UH7A) has most likely revealed only the smallest part of a much larger system with its outstanding Bluebird copper-gold discovery (63 meters grading 2.1% copper and 4.6 g/t gold) at Tennant Creek in the Northern Territory. This is supported by new drone geophysical data now released by the company for the first time.
They show twelve significant targets within a 2-kilometer radius around Bluebird, some of which have a much stronger magnetic signature than Bluebird itself (see Figure 1). Particularly prominent is the circular magnetic-gravimetric feature around the well-known Perseverance gold deposit, where previous shallow drill results have found up to 50 g/t gold. Perseverance is located 1.5 kilometers west of Bluebird. Tennant geologists suggest that the strong signature at Perseverance may indicate a larger copper-gold system at depth.
Tennant announced it will immediately follow up the recent results with an induced polarization (IP) survey over Bluebird to identify and explain the signature of copper-gold-sulfide mineralization. This will support the IP survey of the other targets to prioritize RC/diamond drilling.
Matthew Driscoll, Chairman of Tennant Minerals, commented, “The outstanding targets that have emerged from the new magnetic and gravity models have further strengthened our confidence that Bluebird will be the first of a series of high-grade copper-gold discoveries along the 5 km Bluebird corridor.”
Figure 1: Bluebird Perseverance magnetic intensity image (inverted) showing structures and magnetic gravity targets. Modeling of detailed gravity survey data shows that Bluebird is associated with a gravity high that is part of a 5 km gravity anomaly (“Bluebird Corridor “). The gravity high indicates widespread iron enrichment associated with large copper-gold deposits in the Tennant Creek mineral field.
New high-resolution magnetic data from the drone survey has revealed a west-southwest trending magnetic high interpreted as a mineralized fault zone associated with the high-grade copper-gold mineralization intersected at Bluebird.
Several other magnetized fault structures continue west-southwest and intersect the Perseverance target 2 km west of Bluebird where the largest coincident magnetic-gravimetric structure occurs. The strong inversely polarized magnetic anomaly at Perseverance coincides with the low-lying gravity high associated with Bluebird that defines the 2 km long Bluebird-Perseverance target zone (see combined magnetics-gravity inversion models, Figure 3 below).
Figure 2: Combined drone magnetics and gravity inversion models showing the Bluebird-Perseverance target zone.
Figure 3: Location of the Barkly-Babbler project showing Bluebird and key historic mines in the Tennant Creek mineral field.
Summary: The Bluebird discovery is located on the eastern edge of the historic Tennant Creek Mineral Field (TCMF). The TCMF produced more than 5 million ounces of gold and 500 kt of copper between 1934 and 2005 (see Figure 3). Results to date at Bluebird show marked similarities to mined ore bodies in the Tennant Creek Mineral Field such as Peko and Nobles Nob, which are located approximately 20 kilometers west of Bluebird. The key difference is that all of the previous projects in the TCMF were developed based on surface discoveries – exploration was virtually pick and shovel. Tennant Minerals is the first company to use state-of-the-art instrumentation to expose the copper mineralization around Bluebird in a broader context. The Perseverance target, in particular, takes on a whole new meaning because of the fresh data. One may surmise: If the data had been known earlier, Tenannt would of course have drilled on Perseverance first and not on Bluebird. There is much to be said for geophysical interpretation that the historic gold discoveries at Perseverance may be the tip of a deeper copper-gold system. We look forward to the planned IP measurements. Tennant could be on to something big with this reinterpretation of the TCMF.
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