Tennant Minerals Ltd. - New Drilling Phase Launched at Bluebird Copper-Gold Discovery as New Geophysics Extends Target to Triple the Strike-Length

New drilling program follows further thick, shallow, copper-gold intersections confirming continuity of mineralisation in the eastern discovery zone

-          New phase of the Stage 3 drilling program set to commence at Bluebird copper-gold discovery, targeting immediate extensions and new targets across an expanded 1.5km strike-length.

-          Priority targets identified from modelling of new induced polarisation (IP) resistivity survey data combined with gravity and magnetics - with potential to triple the extent of the Bluebird mineralisation.

-          Key new drilling targets include: 

• Bluebird East – located approximately 500m east of Bluebird, where previous shallow RAB drilling geochemistry correlates with the eastern part of a coincident IP resistivity low/gravity high, representing a highly-prospective drilling target for a repeat of Bluebird.
• Bluebird West – a coincident IP resistivity low/gravity high target which has not previously had any shallow drilling which also represents a potential repeat of Bluebird.

-          This new drilling phase, commencing within two weeks, will build on further thick, shallow results from the latest Stage 3 drillholes which confirm the continuity of mineralisation in the new eastern extension of the Bluebird copper-gold discovery. Results include:

-          12.5m @ 2.0% CuEq* (0.98% Cu, 1.02 g/t Au, 0.01% Bi) from 119.1m downhole in BBDD0038,

• incl. 6.8m @ 3.1% CuEq* (1.45% Cu, 1.68 g/t Au, 0.01% Bi) from 123m, and,
• incl. 2.4m @ 4.9% CuEq* (2.55% Cu, 2.64 g/t Au, 0.01% Bi) from 124.6m.

-          14.4m @ 1.4% CuEq* (1.01% Cu, 0.41 g/t Au, 0.02% Bi) from 73m downhole in BBDD0032,

• incl. 6.4m @ 2.0% CuEq* (1.46% Cu, 0.55 g/t Au, 0.04% Bi) from 73m, and,
• incl. 1.4m @ 4.2% CuEq* (2.84% Cu, 1.55 g/t Au, 0.03% Bi) from 78m.
  • *Refer Appendix 1 for copper equivalent (CuEq) calculations.

-          The new results confirm continuity of the high-grade copper-gold mineralisation at Bluebird over a 500m strike length and to within 60m to 80m of surface, with the mineralised zone open in all directions.

1 September 2023 - Tennant Minerals Limited (“Tennant” or “Company”) (ASX:TMS) is pleased to announce that a new phase of the Stage 3 drilling program is set to commence at the Bluebird copper-gold discovery which will include testing new priority targets identified across an expanded 1.5km strike-length geophysical footprint.

The new targets have been identified through modelling of IP resistivity data combined with 3-D gravity inversions (see plan view, gravity model with targets, Figure 1) which highlighted the potential to triple the footprint of the copper-gold mineralised zone at the Bluebird discovery (see 3-D models, Figure 2).

Previous, strongly copper anomalous shallow RAB drilling, centred 500m to the east of the currently identified mineralisation footprint at “Bluebird East” (see Figure 1, below), is associated with recently modelled IP/low-resistivity targets and a thick and continuous gravity “ironstone” anomaly.  A similar IP low resistivity/gravity high is located at “Bluebird West”, where no previous drilling has been carried out.

Figure 1: Bluebird in plan projection with 3D gravity inversion model showing Bluebird East and West targets.

The new phase of drilling at Bluebird will build on further thick, shallow copper-gold intersections which have confirmed the continuity of, close to surface, mineralisation in the newly discovered eastern extension of the Bluebird copper-gold discovery (see longitudinal projection, Figure 3), which include: 

12.5m @ 2.0% CuEq* (0.98% Cu, 1.02 g/t Au, 0.01% Bi) from 119.1m downhole in BBDD0038,

(part of overall intersection 30.4m @ 1.4% CuEq* (0.56% Cu, 0.62 g/t Au) from 112.6m)

incl. 6.8m @ 3.1% CuEq* (1.45% Cu, 1.68 g/t Au, 0.01% Bi) from 123m, and,

incl. 2.4m @ 4.9% CuEq* (2.55% Cu, 2.64 g/t Au, 0.01% Bi) from 124.6m.

14.4m @ 1.4% CuEq* (1.01% Cu, 0.41 g/t Au, 0.02% Bi) from 73m downhole in BBDD0032,

incl. 6.4m @ 2.0% CuEq* (1.46% Cu, 0.55 g/t Au, 0.04% Bi) from 73m, and,

incl. 1.4m @ 4.2% CuEq* (2.84% Cu, 1.55 g/t Au, 0.03% Bi) from 78m.

The new results from the eastern extension of the Bluebird discovery1 are from within 60m to 80m of surface and indicate potential for shallow open-pit mineable mineralisation (see cross section, Figure 4).

The Stage 3 drilling program2,3 has to date comprised of 14 holes for 3,166m, with assay results for a further seven holes expected within the next three weeks (See Table 1 for significant results and Table 2 for details).

The new drilling phase, comprising up to 4,000m, will aim to define and extend the newly discovered shallow extensions of the Bluebird mineralisation and test the new and highly prospective targets identified at Bluebird East and Bluebird West for repeats of the high-grade copper-gold mineralised deposit.

Figure 4: Cross section 448,500mE showing substantial new copper gold intersections in BBDD0032 BBDD0038.

Table 1: Significant Stage-3 drilling intersections to date:

Table 2: Bluebird Stage 3 drillhole details: 

ABOUT THE BARKLY PROJECT AND THE BLUEBIRD COPPER-GOLD DISCOVERY

The Bluebird high-grade copper-gold discovery is located within the Company’s 100% owned Barkly Project, on the eastern edge of the richly endowed Tennant Creek Mineral Field, which produced over 5.5Moz of gold and over 700kt of copper from 1934 to 20054 (see Figure 5 for location).  Major historical mines in this region include Peko, which produced 3.7Mt @ 4% Cu, 3.5 g/t Au4 and Warrego, which produced 6.75Mt @ 6.6 g/t Au, 1.9% Cu4.

The mineralisation intersected at Bluebird is similar to the high-grade copper-gold orebodies previously mined in the Tennant Creek Mineral Field.  The high-grade mineralisation is associated with intense hematite alteration and brecciation with secondary malachite (copper-carbonate) in the upper parts with native copper, transitioning with depth to primary sulphides including chalcocite, bornite and chalcopyrite.

Drilling to date has identified copper-gold mineralisation at Bluebird over a 500m strike length and from 60m below surface to over 300m depth.  The deposit remains open in all directions (Figures 2, 3 and 4).

Exceptional intersections produced from the Bluebird discovery to date, from west to east, include:

-          BBDD0026: 18.0m @ 2.66% Cu, 11.08 g/t Au from 131.0m incl. 5.0m @ 6.11% Cu, 12.45 g/t Au2

-          BBDD0018: 30.5m @ 6.2% Cu, 6.8 g/t Au from 153.6m incl. 17.8m @ 5.2% Cu, 11.5 g/t Au5

-          BBDD0012: 63m @ 2.1% Cu, 4.6 g/t Au from 153m incl. 27.55m @ 3.6% Cu, 10.0 g/t Au6

-          BBDD0007: 50m @ 2.7% Cu, 0.52 g/t Au from 158m incl. 24m @ 5.0% Cu, 1.0 g/t Au7

The Company has the dual approach of defining the resource potential of the Bluebird discovery as well as testing other targets within the Bluebird Corridor8 (Figure 1).  Targets have been identified using gravity, magnetics, and IP resistivity modelling, as well as previous geochemistry where applicable8. 

Figure 5: Location of the Barkly Project and major historical mines in the Tennant Creek Mineral Field.

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