Bluebird’s Under-Drilled Gold Zone Holds Key Risks and Rewards for Tennant Minerals
Tennant Minerals has initiated a new diamond drilling campaign at its Bluebird discovery, aiming to expand a high-grade gold zone beneath a recently defined copper-gold-silver-bismuth resource. The program seeks to enhance resource definition and metallurgical recovery ahead of potential underground extensions.
- New diamond drilling targets under-explored high-grade gold zone at Bluebird
- Current Mineral Resource totals 1.58 million tonnes at 3.00% copper equivalent
- Gold value now rivals or exceeds copper value due to rising gold prices
- Drilling to generate core for metallurgical test-work optimizing gold and base metal recovery
- Potential for resource expansion below current open-pit limits and along strike
Expanding the Bluebird Discovery
Tennant Minerals Ltd has commenced a new diamond drilling program at its Bluebird high-grade copper-gold-silver-bismuth discovery, part of the company’s 100%-owned Barkly Project in the Tennant Creek Mineral Field. This campaign focuses on testing and extending a gold-rich zone located at the base of the recently announced open-pit Mineral Resource, which totals 1.58 million tonnes grading 3.00% copper equivalent.
The Bluebird deposit has already demonstrated impressive intersections, including intervals such as 30.5 meters at 6.8 grams per tonne gold and 6.2% copper, highlighting the potential for significant precious and base metal mineralization. With gold prices currently exceeding US$4,200 per ounce, the value contribution of gold within the resource has surged, now matching or surpassing that of copper.
Strategic Metallurgical Test-Work
The drilling program is designed not only to better define and extend the gold zone but also to provide drill core for advanced metallurgical test-work. Previous flotation tests on copper-rich, lower gold-grade samples yielded copper recoveries up to 90% and gold recoveries up to 79% into concentrate. The new core will enable optimization of processing techniques to enhance recovery rates for gold, copper, silver, and bismuth, potentially improving the economic viability of the deposit.
Importantly, the gold zone remains under-drilled and projects down plunge below the current open-pit resource limit of approximately 180 meters depth. This suggests promising opportunities for expanding the resource underground, which could significantly increase the deposit’s scale and value.
Regional Context and Future Prospects
The Barkly Project sits on the eastern edge of the Tennant Creek Mineral Field, a historically prolific mining region that produced over 5.5 million ounces of gold and 700,000 tonnes of copper between 1934 and 2005. The Bluebird discovery’s mineralization style is consistent with other high-grade orebodies in the district, characterized by intense hematite alteration and copper sulfide mineralization at depth.
Gravity inversion modeling has identified a large ironstone body extending west of the drilled area, representing a compelling target for further exploration. Tennant Minerals plans to seek regulatory approval to expand drilling in this direction, aiming to uncover additional high-grade mineralization along strike.
The current drilling is expected to conclude within weeks, with sample dispatch and assay results anticipated before Christmas. These results will be critical in confirming the extent of the gold zone and informing subsequent resource updates and development plans.
Bottom Line?
As drilling progresses, Tennant Minerals stands poised to unlock deeper, richer gold zones that could redefine Bluebird’s value proposition.
Questions in the middle?
- Will the new drilling confirm significant down-plunge extensions of the high-grade gold zone?
- How will metallurgical test-work impact recovery rates and project economics for gold and base metals?
- What timeline and approvals are needed to explore the promising western ironstone target further?
