Communicators

Further drilling to test near-surface extensions and new low-resistivity Bluebird-repeat targets east and west of the initial discovery

-          Results from another four holes continue to extend the Bluebird copper-gold discovery to shallower levels and to the east, where the mineralisation remains completely open. 

-          The first hole into the newly discovered eastern Bluebird extension discovery has produced a substantial copper intersection with gold and bismuth (see below).  The results of two further, strongly-mineralised intersections in this zone (BBDD0032 and 0038) are expected within two to three weeks (see Appendix 2 for descriptions of mineralisation). 

17.4m @ 2.6% CuEq* (1.58% Cu, 0.06 g/t Au, 0.25% Bi) from 129.8m downhole in BBDD0033,

incl. 5.44m @ 4.4% CuEq* (3.66% Cu, 0.10 g/t Au, 0.20% Bi) from 132.0m, and,

incl. 3.2m @ 3.5% CuEq* (1.62% Cu, 0.08 g/t Au, 0.55% Bi) from 144.0m.

-          Significant copper with gold and bismuth results were also produced from two holes drilled on the western side of Bluebird, which extend the mineralisation closer to the surface above the previously announced exceptional intersection in BBDD0026 of 17.95m @ 2.66% Cu, 11.08 g/t Au, 1.30% Bi including 5m @ 6.11% Cu, 38.6 g/t Au, 4.50% Bi1.  These new results include:

20.4m @ 1.9% CuEq* (0.68% Cu, 0.90 g/t Au, 0.12% Bi) from 119.6m downhole in BBDD0031,

incl. 2.4m @ 7.2% CuEq* (0.45% Cu, 6.13 g/t Au, 0.48% Bi) from 119.6m, and,

incl. 3.5m @ 2.9% CuEq* (1.63% Cu, 0.52 g/t Au, 0.24% Bi) from 126.0m.

18m @ 1.9% CuEq* (1.80% Cu, 0.04 g/t Au, 0.01% Bi) from 106m downhole in BBRC0021,

incl. 10m @ 3.0% CuEq* (2.85% Cu, 0.05 g/t Au, 0.01% Bi) from 109m,

incl. 5m @ 4.8% CuEq* (4.65% Cu, 0.07 g/t Au, 0.01% Bi) from 114m.

-          Further drilling is now planned to extend and define the newly discovered shallow extensions of the Bluebird mineralisation, which has now been identified over a 500m strike-length1. 

-          The drilling will also test new Induced Polarisation (IP) low-resistivity targets to the east and west of Bluebird (currently undergoing 3-D inversion modelling), targeting repeats of the high-grade copper-gold discovery. 

*see Appendix 1 for copper equivalent (CuEq) calculations.

Tennant Minerals Ltd (Tennant or “the Company”) (ASX:TMS) is pleased to announce the results of a further four holes from the latest, Stage 3 drilling program at the Company’s Bluebird high-grade copper-gold discovery (see longitudinal projection Figure 1, 3-d model, Figure 2 and cross section, Figure 3). 

Bluebird is located within the Company’s 100% owned Barkly Project, on the eastern edge of the richly endowed Tennant Creek Mineral Field in the Northern Territory, which produced over 5.5Moz of gold and over 700kt of copper from 1934 to 20052 (see location, Figure 4).

The new results include a substantial copper (Cu), gold (Au) and bismuth (Bi) intersection from the newly discovered eastern extension of the deposit (see Figure 1):

17.4m @ 2.6% CuEq* (1.58% Cu, 0.06 g/t Au, 0.25% Bi) from 129.8m downhole in BBDD0033,

incl. 5.44m @ 4.4% CuEq* (3.66% Cu, 0.10 g/t Au, 0.20% Bi) from 132.0m, and,

incl. 3.2m @ 3.5% CuEq* (1.62% Cu, 0.08 g/t Au, 0.55% Bi) from 144.0m.

Assay results to come include from thick and strongly mineralised intersections in BBDD0032 and BBDD0038 (see below and descriptions in Appendix 2), also from the eastern discovery zone, which projects to within 60m of the surface (see Figures 1 and 2) and represents a target for initial open-pit mining:

-          BBDD0038: 53m from 90m hematite/secondary magnetite alteration including 28m of strong copper mineralisation (3 - 10% chalcocite and 1-3% malachite).

-          BBDD0032: 66m from 70m hematite/secondary magnetite alteration incl. 20m of strong copper mineralisation (3 - 5% chalcocite and 1% malachite).

Cautionary note regarding visual estimates:

In relation to the disclosure of visual mineralisation above and as detailed in Appendix 2, the Company cautions that visual estimates of oxide, carbonate and sulphide mineralisation material abundance should never be considered a proxy or substitute for laboratory analyses. Laboratory ICP-MS and ICP-OES analyses are required to determine widths and grade of the elements (e.g., copper, Cu) associated with the visible mineralisation reported from preliminary geological logging.  The Company will update the market when laboratory analytical results are received and compiled.  All assay results for the remainder of this program are expected to be available within the next 3 – 5 weeks. Target mineral abundances are estimated along with general geological descriptions.

Significant copper with gold and bismuth results were also produced from two shallower holes drilled on the western side of Bluebird. These new results are from the same section as the recently announced exceptional intersection in BBDD0026 of 17.95m @ 2.66% Cu, 11.08 g/t Au, 1.30% Bi including 5m @ 6.11% Cu, 38.6 g/t Au, 4.5% Bi1 and extend the mineralisation closer to the surface where the zone remains open (see Figure 3):

20.4m @ 1.9% CuEq* (0.68% Cu, 0.90 g/t Au, 0.12% Bi) from 119.6m downhole in BBDD0031,

incl. 2.4m @ 7.2% CuEq* (0.45% Cu, 6.13 g/t Au, 0.48% Bi) from 119.6m, and,

incl. 3.5m @ 2.9% CuEq* (1.63% Cu, 0.52 g/t Au, 0.24% Bi) from 126.0m.

18m @ 1.9% CuEq* (1.80% Cu, 0.04 g/t Au, 0.01% Bi) from 106m downhole in BBRC0021,

incl. 10m @ 3.0% CuEq* (2.85% Cu, 0.05 g/t Au, 0.01% Bi) from 109m, and,

incl. 5m @ 4.8% CuEq* (4.65% Cu, 0.07 g/t Au, 0.01% Bi) from 114m.

The new results are from the Stage 3 drilling program, which has so far comprised 14 holes for 3,166m1.  Further drilling is planned to extend and define the newly discovered shallow extensions of the Bluebird mineralisation, which has now been identified over a 500m strike-length and remains open. 

New drilling will also test IP low-resistivity targets, currently being modelled, to the west and particularly east of Bluebird, where past RAB drilling identified strongly anomalous copper results (see Figure 5).

*see Appendix 1 for copper equivalent (CuEq) calculations.

Figure 1: Bluebird longitudinal projection showing new copper with  gold and bismuth intersections and strongly mineralised holes - results pending.

Figure 3: Bluebird 3-D perspective view with IP resistivity section 448,660mE showing strong low resistivity drilling targets

Figure 3: Cross section 448,320mE showing substantial new copper & gold intersections in BBDD0031 & BBRC0021.

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

*see Appendix 1 for copper equivalent (CuEq) calculations.

Table 2: Bluebird Stage 3 drillhole details: 

ABOUT THE BARKLY PROJECT AND THE BLUEBIRD COPPER-GOLD DISCOVERY

The high-grade Bluebird 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 20052.  Major historical mines included Peko which produced 3.7Mt @ 4% Cu, 3.5 g/t Au2 and Warrego which produced 6.75Mt @ 6.6 g/t Au, 1.9% Cu2 (see Figure 4).

Mineralisation intersected at Bluebird is typical of the high-grade copper-gold orebodies previously mined in the Tennant Creek Mineral Field.  High-grade copper, gold, and bismuth 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 chalcocite, bornite and chalcopyrite.

Drilling to date has now identified copper-gold mineralisation at Bluebird over a 500m strike length and from 75m below surface to over 250m depth.  The deposit remains open in all directions (Figures 1 and 2).

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

-          BBDD0018: 30.5m @ 6.2% Cu, 6.8 g/t Au from 153.6m incl. 17.8m @ 5.2% Cu, 11.5 g/t Au4

-          BBDD0012: 63m @ 2.1% Cu, 4.6 g/t Au from 153m incl. 27.55m @ 3.6% Cu, 10.0 g/t Au5

-          BBDD0007: 50m @ 2.7% Cu, 0.52 g/t Au from 158m incl. 24m @ 5.0% Cu, 1.0 g/t Au6

The Company has the dual approach of defining the resource potential of the Bluebird discovery as well as testing other targets within the Bluebird-Perseverance Corridor7 (Figure 5).  Targets are defined using gravity, magnetics, and IP resistivity modelling as well as previous geochemistry if applicable3. 

Figure 4: Location of the Barkly Project and major historical mines in the Tennant Creek Mineral Field.

Results from the initial drill testing of the other priority gravity-magnetic-IP resistivity targets include a significant intersection at Perseverance North of 1m @ 0.93% Cu, 0.58 g/t Au from 231m in PNDD002 (see Tables 3 and 4 for details and Figure 5 below for location). This hole intersected hematite breccia lodes interpreted to lie above potentially copper-gold mineralised ironstone8, as indicated by the gravity anomaly and a thickening low-resistivity zone at depth.

The results of the extensive new IP resistivity survey carried out over the entire Barkly tenement are currently being modelled.  Targets identified from this modelling will be tested during the next drilling phase, to commence following NT Government approval of the expanded Mine Management Plan (MMP).

Figure 5: Bluebird-Perseverance gravity image with previous drilling geochemistry and new Stage 3 holes.

Table 3: Significant intersections from the Bluebird – Perseverance Drilling: 

Table 4: Perseverance North PNDD0002 drillhole details:

Authorised for release by the board of directors.

***ENDS***

For enquiries please contact:

Matthew Driscoll

Non-Executive Chairman

M: +61 (0) 417 041 725

Stuart Usher

Company Secretary

M: +61 (0) 499 900 044

Andrew Rowell

White Noise Communications

M: +61 (0) 400 466 226