Bluebird Discovery Boasts 1.58Mt at 3.00% CuEq as Tennant Drills for Gold Extensions

Maiden Resource Marks a Milestone

Tennant Minerals Limited has delivered a significant technical milestone with the announcement of its maiden Mineral Resource Estimate (MRE) for the Bluebird copper-gold discovery within its 100% owned Barkly Project near Tennant Creek, Northern Territory. The MRE covers the portion of Bluebird amenable to open-pit mining down to 180 metres below surface, reporting 1.58 million tonnes at a robust 3.00% copper equivalent grade. This includes 1.07 million tonnes classified as Indicated Resources at an even higher grade of 3.43% CuEq, providing a solid foundation for advancing development studies.

Exploration and Metallurgical Advancements

Building on this resource base, Tennant has commenced a new diamond drilling program targeting a high-grade gold zone beneath the current open-pit resource. This program aims to extend the gold mineralisation and generate fresh drill core for metallurgical test-work, focusing on optimising recoveries of gold alongside copper, silver, and bismuth. Previous test-work has demonstrated promising copper recoveries of up to 90%, with gold recoveries reaching 79% in copper concentrates, underscoring the potential economic value locked within the deposit.

Strategic Regional Collaboration

In a strategic move, Tennant Minerals is collaborating with CuFe Ltd and Emmerson Resources Ltd under the 'Tennant Creek Alliance' to establish a formal entity aimed at developing a shared critical minerals processing facility. This initiative seeks grant funding to support a multi-user processing hub, which could enhance regional infrastructure and reduce capital costs for all partners. The Northern Territory Government has expressed support for this project, recognising its potential economic benefits for the region.

Financial Position and Forward Outlook

At the end of the December quarter, Tennant Minerals held cash reserves of $548,000, following $307,000 in cash outflows primarily directed towards exploration activities. While this provides approximately 1.8 quarters of funding at current expenditure levels, the company is actively monitoring its cash position and plans to secure additional funding as necessary to sustain its exploration and development programs.

Next Steps in Exploration

Looking ahead, Tennant plans to finalise its ongoing drilling program to collect large-diameter core for advanced metallurgical testing, continue geological modelling to refine exploration targets, and assess additional geophysical surveys over promising prospects within the Barkly Project. These efforts aim to expand the resource base and unlock further value from the Bluebird discovery and surrounding targets.