Mineralisation remains open in all directions
Tennant Minerals Ltd (ASX:TMS; FRA: UH7A) is systematically expanding the footprint of its high-grade copper-gold discovery at the Bluebird target on its Barkly licence in Australia’s Northern Territory. Recent drilling has confirmed the extension of mineralisation to the east at Bluebird East through two copper mineralised intersections (BBD0043 and BBD0048), increasing the strike length of the ironstone target corridor at Bluebird to more than 500m. At the same time, reverse circulation drill hole BBRC0026 underpinned the potential for a possible open pit mine. (see Figure 1).
The significance of drill hole BBDD0048 is that mineralisation at Bluebird has been confirmed for the first time to a depth of up to 400m below surface (Figure 1). Assay results from both drill holes, BBDD0048 and BBDD0043 (see Figure 1), are still pending. Nevertheless, the intersection of deep copper mineralisation at Bluebird East is considered by geologists to open up the potential for deeper extensions of the Bluebird discovery, including to the west, at depth and in conjunction with the extensions of the Bluebird gravity corridor and coincident magnetic and IP resistivity anomalies at Bluebird West (see targets shown in Figures 1 and 2).
New diamond drill hole BBDD0048 intersected 66m of hematite alteration, including a 14m zone of strong hematite alteration with visible copper mineralisation from 484m (chalcopyrite and minor chalcocite), representing a vertical depth of more than 400m below surface. BBDD0048 is the second intersection of significant copper mineralisation at Bluebird East following the 24m zone of hematite alteration and 8m of copper mineralisation in BBDD0043 and confirms the discovery of a new mineralised zone.
In addition to BBDD0048, new gold, bismuth and copper results have been received from the eastern extension of Bluebird in BBRC0026: 22.0m @ 0.9% CuEq* (0.06% Cu, 0.13g/t Au, 0.26% Bi) from 44m downhole. BBRC0026 is the shallowest significant intersection to date at Bluebird and is open to surface, emphasising the potential for rapid production from an initial open pit.
Tennant is planning further drilling to define the mineralisation at Bluebird East and test continuity with the main Bluebird discovery. The primary objective of the new drill program is to expand the Bluebird discovery and define high-grade copper-gold mineralisation from near surface to a depth of over 400m and over a strike length of more than 800m. The Company believes that the potential tonnage and grade of this expanded footprint will be sufficient to support a stand-alone mining and processing project at Bluebird.
Summary: The mineralisation intersected at Bluebird is typical of the high-grade copper-gold orebodies in the Tennant Creek mineral field. The Bluebird high-grade copper-gold discovery is located on the eastern margin of the rich Tennant Creek mineral field, which produced over 5.5 million ounces of gold and over 700kt of copper from 1934 to 2005. The intersection of the deepest copper mineralisation to date at the Bluebird East discovery indicates that Bluebird has the potential to continue from surface to depths in excess of 400m. Drilling to date at Bluebird has identified copper-gold mineralisation over a strike length of 500m and now to a depth of over 400m. The mineralisation remains completely open in all directions. With further drilling planned, Tennant now intends to complete an initial mineral resource estimate at Bluebird.
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