Tennant Minerals: Drill Program to Significantly Expand High Grade Copper and Gold Deposits has begun
It looks like Tennant Minerals (WKN A3ET0R / ASX TMS) is making good progress with expansion drilling at its Barkly copper and gold project after the company recently received approval for its drill plans from the NT regulatory bodies.
Tennant plans to drill a total of up to 4,000 meters (RC and diamond core) to test extensions of the Bluebird high-grade copper and gold discovery which lie only slightly below the surface. Secondly, drilling will test promising new geophysical targets in the Bluebird East and Bluebird West areas.
Near-surface bluebird expansion targeted
The initial extension of the original Bluebird discovery will be RC drilling targeting extensions of the known deposits to the east, which reach to within 40 meters of surface. As Tennant points out, the discovery and definition of these newly discovered zones of mineralization near surface offers potential for initial (lower cost) open pit mining.
Drilling is also planned to further test the Bluebird mineralization to the west, where the mineralization zone remains open below the recently received significant results from Stage 3 drilling, which intersected significant mineralization. Among other results, Tennant drilled 11.95 metres at 0.8% copper equivalent, including 2.0 metres at 2.47% copper. Further diamond drilling will also test the western portion of the discovery where the recent Phase 3 drill hole BBDD0026 returned an exceptionally high-grade gold-copper-bismuth intercept. Here Tennant intersected 17.95 meters of 2.66% copper, 11.08 g/t gold and 1.3% bismuth, including 5 meters of 38.6 g/t gold, 6.11% copper and 4.5% bismuth!
New, geophysical targets could triple extent of Bluebird
The Company’s second objective with the current drill program is to test promising targets identified through modelling of new geophysical data in the Bluebird East and Bluebird West targets. This is because, according to Tennant, these could be “repeats” of the high-grade Bluebird mineralization, which means, according to the company, there is the potential to triple its extent!
Previous, strongly copper anomalous surface RAB drilling at Bluebird East is centred 500 meters east of the currently identified footprint of the Bluebird discovery. The Bluebird East target is associated with a recently modelled IP/low resistivity anomaly and a thick and continuous gravity “ironstone” anomaly. A similar low resistivity/high gravity IP anomaly is located at Bluebird West, 500 meters west of Bluebird. However, no drilling has been done there yet.
Conclusion: It is good to hear that Tennant has obtained the necessary drilling permits and that work on the Barkly project is progressing well. While the possible extension of the known Bluebird mineralization alone would be very good news, in our view the possible demonstration that Bluebird East and West are "repeats" of the original discovery holds the significantly greater potential. Because it would potentially allow Tennant to triple the size of its discovery and, in our view, move into dimensions that could generate increased interest not only in the market but theoretically also among larger companies in the sector.
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