Expansion in all directions

Tennant Minerals Limited (ASX: TMS; FRA: UH7A) has commenced extensive new drilling totalling 12,000 metres at its Bluebird copper-gold discovery at the Barkly Project on the eastern edge of the historic Tennant Creek mining camp. Drilling will take place in two phases: Phase one will consist of approximately 4,500 metres of RC drilling to test the shallowly dipping, thick, high-grade gold and copper zone that extends to the west and east of Bluebird. The company also intends to use the drilling to target the suspected extensions of the deposit at depth (see Figure 1).

Subsequently, up to 7,500 metres of RC and diamond drilling is planned to test potential repeats of Bluebird within the 2.5 km Bluebird-Perseverance corridor (see gravity inversion and prospect locations, Figure 2). One of the prominent targets will be Perseverance, located 1.5 kilometres to the west of Bluebird. In particular, Tennant intends to test the large geophysical target at depth and to the west of the historic Perseverance gold mine, where previous high-grade gold results of up to 3 metres at 50 g/t Au from 42 metres in PERC015 and 3 metres at 43.2 g/t Au from 72 metres in PERC001 have been recorded. The highest intensity gravity anomaly and concurrent reverse magnetic anomaly are being tested to find the intersection of the Perseverance mineralised fault zone with the ironstone (see Figure 2).

Tennant Minerals CEO Vince Algar commented, “The commencement of this major new drill programme provides us with the opportunity to expand Bluebird in all directions and look for repeats of this exciting copper-gold discovery within the 2.5km Bluebird-Perseverance corridor, of which only 500m has been tested to date. We see this programme as the stepping stone to defining an initial mineral resource. We will then commence development studies for what we hope will be an exciting new copper-gold development at Tennant Creek, which has already produced 5.5 million ounces of gold and 700 kt of copper. This drilling, designed to expand Bluebird, comes at a time when demand for copper is increasing globally and the gold price is rising strongly, and we hope to achieve positive results in this environment.”

Figure 1: The planned drilling targets the immediate extensions of the high-grade copper and bonanza gold zones at Bluebird, which are open in all directions.
Figure 2: Plan view showing planned drill locations in the Bluebird-Perseverance corridor during the ongoing drill programme at Bluebird and Perseverance

Summary: Tennant Minerals' extensive drilling is designed to expand Bluebird's footprint and identify repeats of the discovery before an initial mineral resource estimate is prepared. The company is optimistic that this resource will be large enough to justify a stand-alone copper-gold development project. Tennant has also already completed metallurgical tests which indicate that the Bluebird materials are suitable for standard copper flotation and produce copper and gold concentrates comparable to commercially available products. The mineralisation intersected at Bluebird is typical of the high-grade copper-gold orebodies in the Tennant Creek Mineral Field, such as the Peko copper-gold deposit, which historically produced 3.7 million tonnes at 4% Cu and 3.5 g/t Au. All mines in the region were discovered by surface outcrop. Tennant Minerals is the first Company to discover "blind" below surface mineralisation and is applying cutting-edge techniques to locate extensions and other high- grade zones.

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 expressly exclude any liability for financial losses or the content guarantee for topicality, correctness, adequacy and completeness of the articles offered here. Please also note our terms of use.

Pursuant to §34b WpHG (Securities Trading Act) and in accordance with paragraph 48f (5) BörseG (Austrian Stock Exchange Act) we would like to point out that principals, partners, authors and employees of GOLDINVEST Consulting GmbH hold or may hold shares in 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.

Latest News

Latest Videos