Tennant Minerals Limited - Drilling Resumes at Bluebird High-Grade Copper-Gold Discovery
- Latest 5,000m drilling program to also target a strong newly-defined geophysical anomaly with potential to more than double the existing discovery footprint
- A new 5,000m RC and diamond drilling program is underway at Bluebird, aiming to expand the high-grade copper-gold discovery along strike to the west, east and at depth.
- The Stage 3 drilling program has been expanded to test a new, high-priority, low-resistivity (high-conductivity) step-out target, extending east of Bluebird, identified from the initial results of an extensive Induced Polarisation (IP) geophysical program.
- The priority new IP target is more highly conductive than the main Bluebird discovery zone (see Image 1 below) and thus offers potential for a repeat of the existing high-grade discovery - at a similar shallow depth.
- Latest drilling program aims to build on recent spectacular results at Bluebird including:
- 30.5m @ 6.2% Cu, 6.8 g/t Au from 153.6m incl. 17.8m @ 5.2% Cu, 11.5 g/t Au (BBDD0018)1
- 63m @ 2.1% Cu, 4.6 g/t Au from 153m incl. 27.55m @ 3.6% Cu, 10.0 g/t Au (BBDD0012)2
- 24m @ 0.66% Cu, 11.8 g/t Au from 161m incl. 5.7m @ 0.74% Cu, 49.3 g/t Au (BBDD0021)3
Image 1: 3-D inversion model showing Bluebird current footprint and New IP Target
May 15, 2023, Tennant Minerals Limited (“Tennant” or “the Company”) is pleased to announce a new reverse circulation (RC) and diamond drilling program has commenced at Bluebird, to significantly expand the footprint of the high-grade copper-gold discovery (see longitudinal projection, Figures 1 and 2).
Bluebird is located within the Company’s 100% owned Barkly Project, at the eastern edge of the Tennant Creek (copper-gold) Mineral Field, which produced more than 5.5Moz of gold and 700,000 tonnes of copper from 1934 to 20054 (see location, Figure 3).
New Stage 3 Drilling Program
The new Stage 3 program will build on previous drilling at Bluebird by the Company, which led to the discovery of high-grade copper and gold mineralisation over a 240m strike length and to a depth of more than 250m. Bluebird is a “blind” discovery hidden beneath about 80m of weathered saprolite and remains completely open in all directions (see Figure 1).
The Stage 3 drilling program will include up to 5,000m of RC and diamond drilling which will test the shallow plunging thick and high-grade gold and copper zone extending west and east of Bluebird, as well as targeting projected extensions at depth (Figure 1).
The initial holes will target immediate extensions of the high-grade copper and bonanza gold zones to the west of the intersections in the recently completed Stage 2 program5, which included:
- BBDD0018: 30.5m @ 6.2% Cu, 6.8 g/t Au from 153.6m incl. 17.8m @ 5.2% Cu, 11.5 g/t Au1
- BBDD0012: 63m @ 2.1% Cu, 4.6 g/t Au from 153m incl. 27.55m @ 3.6% Cu, 10.0 g/t Au2, and,
- BBDD0021: 24m @ 0.66% Cu, 11.8 g/t Au from 161m incl. 5.7m @ 0.74% Cu, 49.3 g/t Au3
The Stage 3 program will also include deeper drilling below the high-grade copper and gold intersections in BBDD0025 (16.45m @ 3.05% Cu, 2.31 g/t Au)5 and BBDD0015 (17.8m @ 3.7% Cu, 0.34g/t Au)6 for a repeat of the thick dilational high-grade zone at depth.
Significant New IP Target Identified
Inversion modelling of initial results from a major induced polarisation (IP) geophysical survey completed by Planetary Geophysics has identified a strongly-conductive (low-resistivity) anomaly centred 160m to the east of Bluebird (see 3-d inversion model and section of IP target, Figure 2).
This new step-out IP target is more highly conductive than the main Bluebird zone, and thus represents a potential repeat of the high-grade copper-gold discovery, at a similar shallow depth.
As a result, the scope of the Stage 3 drilling program has now been expanded to include drilling of this new IP target, which is strongly developed from around 80m below surface and indicates that Bluebird and the new target zone occupy a large, doubly-plunging, dilational zone extending for over 500m strike length (see Figure 2).
Other targets to the west of Bluebird, within the 2.5km Bluebird-Perseverance Corridor7 (see Figure 4), were identified based on inversion modelling of gravity, magnetics and the initial IP profiles carried out in 20227. Further IP profiles have now been generated across the entire corridor and are currently being modelled to define additional priority targets.
Initial shallow drilling of selected targets within the corridor intersected mineralised structures above interpreted ironstone-hosted copper-gold zones8. Full results are pending for these recently completed RC and diamond drill holes and further drilling will be planned subject to the results of this drilling and inversion modelling of the remaining IP profiles across the entire Bluebird-Perseverance Corridor (see Figure 4).
Figure 1: Bluebird longitudinal projection showing new drilling planned previous Cu-Au intersections
The mineralisation intersected at Bluebird is typical of the high-grade copper-gold orebodies in the Tennant Creek Mineral Field (Figure 3). The high-grade mineralisation, developed from approximately 80m below surface, is associated with intense hematite alteration and brecciation with quartz veining inside a halo of chlorite alteration and variable hematite development.
The upper parts of the mineralised zones include secondary malachite (copper-carbonate) as well as native copper, which transitions to primary sulphide mineralisation at depth including chalcocite, bornite and chalcopyrite (e.g. the massive chalcopyrite zone in BBDD00181).
Bulk samples for initial metallurgical testing have been generated and will be tested as part of the current Stage 3 program.
Figure 2: 3-D inversion model of IP low resistivity target zone centred on 448,580mE, showing Bluebird current footprint and New IP Target
Figure 3: Location of the Barkly Project and major historical mines in the Tennant Creek Mineral Field
Figure 4: Bluebird-Perseverance zone bouguer gravity image with structures gravity-magnetic-IP resistivity targets.
Image 2: DDH1 multi-purpose drilling rig on Stage 3 RC/diamond hole BBDD0026
REFERENCES
1 08/02/2023. Tennant Minerals (ASX.TMS): “Spectacular Bluebird Drill-Hit 30.5m @ 6.2% Cu, 6.8 g/t Au”.
2 17/08/2022.Tennant Minerals (ASX.TMS): “Bonanza 63m@ 2.1% Copper and 4.6 g/t Gold Intersection at Bluebird”.
3 07/03/2023. Tennant Minerals (ASX.TMS): “Bonanza Bluebird Gold Results Including 5.7m @ 49.3 g/t Au”.
4 Portergeo.com.au. Tennant Creek - Gecko, Warrego, White Devil, Nobles Nob, Juno, Peko, Argo.
5 20/03/2023.Tennant Minerals (ASX.TMS): “Exceptional Results to 28.3 g/t Au 22.6% Cu at Bluebird”.
6 07/09/2022. Tennant Minerals (ASX. TMS): “Up to 54.5% Cu in Massive Sulphides at Bluebird”.
7 25/08/2022. Tennant Minerals (ASX.TMS): “Standout Geophysical Targets to Replicate Bluebird Cu-Au Discovery”.
8 24/01/2023. Tennant Minerals (ASX.TMS): “Mineralised Structures at Key Copper-Gold Targets”.
Authorised for release by the board of directors.
***ENDS***
For enquiries please contact:
Stuart Usher
Company Secretary
M: +61 (0) 499 900 044
Andrew Rowell
White Noise Communications
M: +61 (0) 400 466 226
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION
This release contains forward-looking statements concerning Tennant Minerals Ltd. Forward-looking statements are not statements of historical fact and actual events and results may differ materially from those described in the forward-looking statements as a result of a variety of risks, uncertainties, and other factors. Forward-looking statements are inherently subject to business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company’s actual results to differ materially from those expressed or implied in any forward-looking information provided by the Company, or on behalf of, the Company. Such factors include, among other things, risks relating to additional funding requirements, metal prices, exploration, development and operating risks, competition, production risks, regulatory restrictions, including environmental regulation and liability and potential title disputes.
Forward looking statements in this release are based on the company’s beliefs, opinions and estimates of Tennant Minerals Ltd as of the dates the forward-looking statements are made, and no obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments.
COMPETENT PERSONS DECLARATION
The information in this report that relates to exploration results is based on information compiled and/or reviewed by Mr Jonathon Dugdale. Mr Dugdale is the Technical Advisor to Tennant Minerals Ltd and a Fellow of the Australian Institute of Mining and Metallurgy (‘FAusIMM’). Mr Dugdale has sufficient experience, including over 35 years’ experience in exploration, resource evaluation, mine geology, development studies and finance, relevant to the style of mineralisation and type of deposits under consideration to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (‘JORC’) Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves. Mr Dugdale consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.
ASX LISTING RULES COMPLIANCE
In preparing this announcement the Company has relied on the announcements previously made by the Company as listed under “References”. The Company confirms that it is not aware of any new information or data that materially affects those announcements previously made, or that would materially affect the Company from relying on those announcements for the purpose of this announcement.
