Tennant Minerals (ASX:TMS) has a new drilling program well underway at the Bluebird discovery in the Northern Territory, Australia.
Drilling comprises up to 4,000m of reverse circulation (RC) and diamond drilling, following the company receiving approval from the Northern Territory Government on the new Mine Management Plan (MMP).
The $21.26 million market capitalisation company will be testing shallow extensions of Bluebird, alongside major new geophysical targets at Bluebird East and Bluebird West.
New targets at Bluebird East and West have been identified through modelling of induced polarisation (IP) resistivity data, combined with 3D gravity inversions and detailed drone-magnetics imagery.
Geophysical modelling and previous geochemistry shows potential to triple the footprint of the copper-gold mineralised zones.
Tennant says the new phase of drilling will build on the shallow copper-gold intersections that have confirmed the continuity of close to surface mineralisation in the eastern extension of the Bluebird copper-gold discovery.
Bluebird is located within the company’s wholly owned Barkly Project which comprises 2 granted exploration licences in central Northern Territory.
Tennant Minerals is an explorer and developer with copper-gold assets in the Tennant Creek area of the Northern Territory. The company is primarily focused on the Barkly and Babbler projects.
As of 30 June 2023, the company had $4.37 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Tennant Minerals