Tennant Minerals jumps on significant high-grade copper-gold hit at Bluebird

• Wide intersection shows potential to extend high-grade gold zone below current mineral resource
• Diamond drilling produces thick intersection of intense iron-oxide and copper-gold- bismuth mineralisation
• New drillhole intersected native copper, bismuth sulphides and specks of visible gold
• Tennant Minerals part of alliance analysing a shared processing facility at Tennant Creek

Tennant Minerals (ASX: TMS) is up more than 33% after drilling a significant intersection to further expand its promising Bluebird copper-gold discovery within the Barkly project in the Northern Territory.

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New diamond drilling has intersected a 19.7m downhole zone with native copper, bismuth sulphides and specks of visible gold.

The latest drilling program at Bluebird includes one completed diamond drillhole and another hole which is in-complete at present.

The holes were designed to test and extend the high-grade gold zone, expand the mineral resource and provide new core samples for metallurgical test-work to optimise gold and bismuth recovery, along with copper and silver.

Drilling to date has identified high-grade copper-gold mineralisation at Bluebird over a 500m strike length and to over 250m depth.

The new diamond drill hole is located west and down-plunge of the recently announced open-pit mineral resource, expanding the high-grade gold-copper mineralisation below previous bonanza intersections.]

“The intersection of 19.7m of classic Tennant Creek style mineralisation with native copper, bismuth sulphides and specks of visible gold has highlighted the potential to extend the high-grade gold with copper and bismuth zone which is open to the west and down-plunge of the open-pit Mineral Resource,” the company annouced to the ASX.

“The latest intersections reinforce our confidence in extending copper-gold-bismuth resources on the Barkly project, as we pursue our goal of developing the Bluebird discovery which lies in the rejuvenated Tennant Creek mineral field, which has already produced 5.5 million ounces of gold and 700,000 tonnes of copper.”

Tennant Minerals has an ongoing involvement in the Tennant Creek Copper Alliance which is analysing a shared processing facility at Tennant Creek.

The aim of the strategic alliance is to jointly develop copper, gold, and critical metals projects in the Tennant Creek region, and to pool resources to develop a single, multi-user processing facility, which is expected to lower costs, reduce environmental impact, and create more economically viable projects through economies of scale. The alliance has been awarded a combined federal and territory grant for a joint processing facility ore-feasibility study (PFS),

The proposed plant would produce copper-gold-bismuth concentrates and gold doré from orebodies across the Barkly region. A successful PFS would allow Tennant Minerals to convert a high-proportion of the open-pit mineral resource at Bluebird to ore reserves, which would represent early-feed for the contemplated alliance processing facility.

Mining studies and processing inputs have been developed for Bluebird as part of an ongoing study into the mining and centralised processing, though the alliance, of the Bluebird open-pit mineral resource.

TMS is up 33.3% to 0.8¢. Mkt cap $6.395M

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