Large Scale Targets Expand Project Opportunities

-          A review of historical exploration, new geochemical and gravity data has identified two large-scale high priority targets south of Tennant Minerals (“the Company”) high-grade Bluebird Copper-Gold Project, east of Tennant Creek in the Northern Territory (NT).

-          The Babbler Gold Prospect identified in 1973 by Noblex (then ‘R29’)1,2, is located 7km SSE of Bluebird, some 35km ESE of Tennant Creek:

• Located on a prominent positive magnetic anomaly, adjacent to a gravity low.
• During the 1970’s four percussion drillholes with diamond tails and two additional percussion holes partially tested the geophysical anomalies, identifying widespread gold anomalism in pyrite and chlorite altered rhyolites (felsic volcanic rocks) in drillholes over 500m apart.
• Best historical results not previously presented include:

-          13m @ 0.48 g/t Au from 90m, including 7m @ 0.68 g/t Au from 94m in DDH466.

-          22m @ 0.42 g/t Au from 33m including 6m @ 0.61g/t Au from 33m, 3m@ 2.91g/t Au from 71m and 14m @ 0.31 g/t Au from 81m in DDH468.

-          12m @ 0.57 g/t Au from 6m including 1m @ 1.22 g/t Au from 3m, 6m @ 0.46g/t Au from 39m, 3m@ 0.51g/t Au and 453ppm Cu from 86m in DDH469.

-          DDH469 contains anomalous copper intervals of 56m @ 251ppm Cu from 49m, including 2m @ 855ppm Cu from 72m and 2m @ 1200ppm Cu from 92m.

• The high level of gold anomalism in holes that are approximately 500m apart, defines a potential kilometre scale gold anomaly that offers a compelling large-scale gold-system target.
• The area has good outcrop that comprises both volcanic and sedimentary rocks of the Paleo-Proterozoic Ooradidgee Group. The sequence is close to the contact with, and overlies, the Lower Proterozoic Warramunga Group, which hosts the majority of the known copper-gold mines and prospects within the Tennant Creek mineral field.
• Large scale NW-SE structures intersect close to the drilled gold anomaly area.
• Recent research by the NT Geological Survey indicates possibility of copper and gold mineralisation hosted in the untested Ooradidgee Group and the presence of VHMS deposits in the region3.
• The Company plans to conduct wide spaced Reverse Circulation (“RC”) drilling to test this area.

-          The Wedge Copper-Gold Prospect, identified in 1973 by Noblex (then ‘R31’), is located 5km SW of Bluebird, some 35km south-east of Tennant Creek.

• The prospect is a discrete 1.5km x 650m fault bounded block of Lower Proterozoic Warramunga Group rocks with visible ironstone and gossan development.
• Soil targets identified significant anomalous copper, iron, bismuth.

-          The Babbler Gold Prospect, the Wedge Copper-Gold Prospect as well as the recently interpreted sub-surface copper anomalism at Bluebird East4 are priority targets for wide spaced RC drilling.

-          The Company continues to progress collaboration with the Strategic Alliance of companies in Tennant Creek, seeking to finalise a scoping study for the development of Bluebird as part of a shared copper-gold processing facility in the region5.

Tennant Minerals CEO, Vincent Algar commented; “At Babbler, the logging of pyrite and chlorite alteration within felsic volcanics in wide-spaced diamond drillholes during the 1970s containing elevated gold values is considered highly encouraging for presence of a large gold system in the area. No significant exploration has been conducted on the project since then, possibly because the host rocks were not typical of the Tennant Creek style copper-gold mineralisation targets at the time.

Today we are aware of other factors that significantly increase the prospectivity of Babbler. These factors include the discovery of the high-grade Bluebird copper-gold system just 7km to the north, and new research recently reported by the NT Geological Survey indicating the presence of VHMS style deposits in the Paleo-Proterozoic Ooradidgee Group at the Rover Field SW of Tennant Creek.

The rhyolites at Babbler are part of the Ooradidgee Group and lie close to the contact with the more typical host rocks for high-grade Tennant Creek Style Copper-Gold-Bismuth Mineralisation. In today’s environment of high gold prices and the significant advances in treatment of gold ores, we consider the size and level of anomalism of the gold target to demand significant follow up activity.”

Figure 1 Location of the Barkly Project, Northern Territory.

Figure 2: Detailed First Vertical Derivative of Gravity as Background Image Showing

Current High Priority Exploration Targets at TMS Barkly Project

Figure 3. First Vertical Derivative of Gravity as Background Image Showing Drillholes and Significant Intercepts.

BABBLER GOLD PROSPECT

The Babbler Gold Prospect, identified in 1973 by Noblex (then R29) is located 7km SSE of Bluebird, some 35km south-east of Tennant Creek1,2.

The area is characterised by a sequence of west-dipping rhyolitic tuffs and flows, as well as well bedded greywacke-sandstone-siltstone units. The 1970’s exploration noticed a rhyolite unit containing up to 5% by volume of pyrite box-work and a significant magnetic anomaly in the area. Percussion drilling with diamond drilling tails was completed in the area.  

The prospect has good outcrop and lies in an area of volcanic rocks and sediments of the Paleoproterozoic Ooradidgee Group. The sequence is close to the contact of and overlies the Lower Proterozoic Warramunga Group that hosts all the known copper-gold mines and prospects within the Tennant Creek mineral field.

Recent research by the NT Geological Survey indicates the possibility of Ooradidgee Group hosted VHMS deposits in the region3.

Historical exploration:

• During the 1970’s four diamond drillholes and two percussion holes tested the geophysical anomalies (See Figure 3), identifying widespread gold anomalism in pyrite, chlorite altered rhyolites (felsic volcanic rocks) interpreted to be part of the Ooradidgee Group Volcanic sequence that immediately overlies the Warramunga Formation. The latter hosting most of the Cu-Au-Bi mineralisation in the Tennant Creek field.
• Historical drilling indicates gold anomalism in holes approximately 500m apart, supporting a large gold geochemical anomaly present over km2 scale.
• Historical geochemical soil sampling yielded very low-level anomalism in transported cover and is not considered an appropriate method compared to wide spaced RC drilling, which the Company plans to conduct over the area
• Large scale NW-SE structures intersect close to the drilled gold anomaly area.
• Recent research by the NT Geological Survey indicates possibility of Ooradidgee Group hosted VHMS deposits in the region (NTGS Record 2023-010, PG Farias)3
• The prospect is located adjacent to a magnetic anomaly, adjacent to a gravity low.
• Table below summarise significant intercepts over 0.1 dwt (0.15 g/t) indicating anomalous gold grades in drilling over an area of 1km2.
• Gold samples were reported by ADL in penny weights per long ton as reported in the original data. A conversion factor of 1dw/long ton = 1.530612 g/t was used to convert the gold grades. All other metal values are reported in ppm.

Table 1. Significant intersections above 0.16g/t (gold converted from logged DWT (pennyweights per long  ton)). Collar information is reported in Appendix 2, JORC Table disclosures are reported in Appendix 2. Complete assay records are reported in Appendix 3. Information is converted from records contained in NTGS report CR19760001.

Commentary

The Babbler gold prospect is an attractive exploration target due to its large size and high level of gold and minor copper anomalism. Anomalous gold grades occurring in pyritic, chlorite hosted felsic volcanics (rhyolites) and tuffaceous horizons have been identified in scout drilling in the 1970’s by Noblex. In some places these intervals are associated with anomalous copper. These features are well documented in NTGS reports. The mineralisation identified by this work has remained untested, due to the ongoing focus over many years on discovery models centred on the shear zones and ironstone formations of the underlying Warramunga Formation rocks. Mineralisation in the overlying felsic volcanic and tuffaceous units of the younger Ooradidgee Group were not considered. Grade levels in any anomalies such as Babbler were also considered to be too low at the time for follow up due to ongoing production demands in the area at the time.

Recent work by the NTGS (NTGS Record 2023-010, PG Farias)3 highlights the potential and likelihood of multiple styles of precious and base metal mineralisation occurring in or at the complex contact of the Warramunga and Ooradidgee interface. In the report, this is outlined in terms of the Rover Mineral Field, host to the Rover One Copper-Gold- Bismuth deposit (Castille Resources Ltd), and multiple other deposits including two Volcanogenic Hosted Massive Sulphide (VHMS) deposits (Explorer 108 and Curiosity).

At Babbler, outcrop mapping supports the view that the contact between the overlying Ooradidgee felsic volcanic and tuffaceous sequences and the underlying Warramunga Formation sedimentary package are near the surface. As explained in the NTGS record 2023-010, this complex contact, which represents an angular unconformity, is a possible location for mineralisation. The presence of regional NW-SE structures crosscutting the Babbler prospect offers further interest.

Anomalous gold values are identified in all the drilling to date. They occur over a large area (currently over 1km2) in drillholes over 500m apart. The unusual and widespread nature of the mineralisation begs follow up. The Company will utilise wide spaced RC drilling to determine the full area of anomalism as well as identifying horizons or structures that could host higher grades, or thick accumulations of lower grades of gold bearing material. Geophysical methods which may discriminate the high contrast unconformity which may be present in the area will also be utilised.

WEDGE COPPER-GOLD PROSPECT

The Wedge Copper-Gold Prospect, identified in 1973 by Noblex (then R31) is located 5km south of Bluebird, some 35km south-east of Tennant Creek;

Tennant exploration staff have confirmed the anomalous nature of an iron gossan outcrop identified 5km SW of Bluebird. Noted in previous exploration, this anomaly corresponds to an historical target and is supported by co-incident copper, iron, bismuth soil auger anomalies and rock chips taken by the Company in December 2024.

Summary of Exploration findings;

• The historical R31 geophysical target have been confirmed by new auger and rock chip sampling and the acquisition of new gravity.
• The Wedge prospect is located South-West of Bluebird on a 3km SSE offset of the strongly mineralised Golden Mile-Perseverance-Bluebird trend.
• The prospect is a discrete 1.5km x 650m fault bounded block of Lower Proterozoic Warramunga Formation rocks with visible ironstone and gossan development.
• Initial reconnaissance and rock chips samples were taken, returning values up to Fe 56%, Cu 150ppm, 6 ppm Ag, 112 ppm Bi.
• Soil targets were identified with anomalous Cu, Fe, Bi.
• New gravity data acquired, confirming ironstone body identified from mapping.

Follow up work at the Wedge Prospect will take place in conjunction with work to be undertaken at the nearby Babbler gold anomaly. Further mapping of structures will be undertaken, prior to planning of a shallow RC program to test the target.

Authorised for release by the Board of Directors

***ENDS***

References

1 NTGS Report CR19750014 “Noblex N.L. Annual Exploration Report – Licence 96 for the year 1974”

2 NTGS Report CR19760001 “Noblex N.L. Annual Exploration Report – Licence 96 for the year 1975”

3 (NTGS Record 2023-010, PG Farias “Mineral systems characterisation in the context of a new geological framework for the Rover Field, Northern Territory)

4 08/05/2025  Tennant Minerals (ASX:TMS): “Significant Copper Anomaly identified at Bluebird East”

5 25/03/2025.  Tennant Minerals (ASX:TMS): “Strategic Copper and Gold Alliance Update”

List of Appendices:

Appendix 1a: Historic Drill Collar Locations

Appendix 1b: Historic Tenement Open-File Drilling Report Summary Information

Appendix 2: JORC 2012 Disclosure

Appendix 3: Detailed assay information from historical drilling

For enquiries please contact:

Vincent Algar

CEO

+61 8 9481 7833

Tanya Newby

Company Secretary

+61 8 9481 7833