Communicators

8th May 2025 / Tennant Minerals

Historical Drilling Results show Potential for Bluebird Lookalike Discovery

-          A review of results from historical shallow drilling has identified a significant copper-in-ironstone anomaly below surface at Bluebird East, extending over a strike length of at least 250m. The anomaly is similar to that over the Bluebird High-Grade copper-gold discovery.  

-          The Bluebird East Anomaly lies NE of the Bluebird high-grade copper-gold body, which has been extensively drilled and previously reported by the Company (Figure 1).

-          The copper anomaly identified is comparable in size and intensity (>100ppm Cu and up to 1,200ppm Cu) to the copper anomalism zone over Bluebird, thus presenting as a potential “Bluebird lookalike” target. (Figure 2 & 3, Table 1 &2)

-          Limited previous wide spaced drilling has tested below 50m depth at Bluebird East, which presents a compelling un-tested drill target.

-          New slimline reverse circulation (SLRC) drilling from Bluebird East indicates iron enrichment in composite sampling and the company is awaiting results from follow-up select, detailed (1 metre) sampling intervals from the laboratory.

-          The Company is planning a follow-up drilling program across the anomaly and areas of subsurface iron enrichment further east, with hole depths to extend below the base of oxidation.

-          Geological interpretation over the main body of Bluebird copper-gold mineralisation is ongoing, including the identification of new drill locations for 2025. The primary objective of the ongoing exploration is to extend and define new high-grade zones. The mineralisation remains open to the West and down plunge of previously identified high grade copper and gold intersections.

Tennant Minerals CEO, Vincent Algar, commented on the Drilling Results and future plans:

“A review of the historical shallow drilling data east of the main Bluebird Cu-Au mineralisation, has identified a significant subsurface copper anomaly extending over 250m. It is located 350m NE of the Bluebird high-grade mineralisation, presenting a very attractive near-term drill target.

Composite five metre samples from Slimline RC drilling results indicate subsurface iron enrichment further to the east, extending the new area of interest to over 600m in total, presenting a significant target for future exploration.

The Bluebird deposit is considered a “blind” discovery, which means there is no indication at surface of its presence at depth. This is common throughout the Tennant Creek field and at Bluebird, where the upper 50 metres below the surface is weathered and leached of copper. Our analysis has identified a very good comparison between the level of copper anomalism seen above the high-grade Bluebird body of mineralisation and shallow geo-chemical drilling previously conducted at Bluebird East.

Little or no targeted drilling has occurred at Bluebird East below 50 metres.

The ingredients for a new discovery are all there including magnetic and gravitational anomalism, logged ironstone intervals, and copper anomalism greater than 100ppm up to 1,200ppm Cu with anomalous gold in places up to 0.6g/t Au.“

Figure 1: Historical and recent drillhole locations at Bluebird. Image shows gravity inversion (red over topographic image). Historical holes traces are shown as lines, solid shapes at Bluebird indicate known mineralisation zones.

Subsurface Copper Anomalism identified at Bluebird East

A review of previous shallow geochemical drilling (less than 50m vertical depth) in the Bluebird East area has confirmed a subsurface bedrock ironstone and copper anomaly* in drilling data over a strike length of 250m from 448,850mE extending eastwards. This target area lies 350m NE of the Bluebird high-grade copper-gold body, already extensively drilled by the Company (See section below “Previous Drilling Results”.)

A plan and long projection of the anomalism is shown in Figures 2 & 3. Anomalism envelopes are modelled in Leapfrog software using the RBF based numeric 3D contour modeller guided in the east-west direction based on the known strike of the mineralisation. Data and modelling are limited to -50m below surface. Envelopes shown are >200ppm Cu and >300ppm Cu, using Ln (Cu) ppm.

*The anomalism is defined as drilled values greater than 100ppm Cu.

At Bluebird;

-          The copper assay levels between the surface and the ~50m base of weathering, are elevated but leached of significant copper. They point to the deeper high-grade body hidden below 50m which has been subsequently drilled and identified.

-          The near surface copper anomaly from shallow drilling is of the order of >100ppm Cu up to 1,200 ppm Cu (Intersections used are shown in Table 1).

-          The size and intensity of the copper anomaly indicates the “pre-discovery” copper anomalism.

-          The copper anomalism is “blind” with no surface expression under shallow cover.

The Bluebird East target is important because it presents as a “Bluebird lookalike”;

-          The copper assay levels between the surface and the ~50m base of weathering from shallow drilling are comparable in intensity (>100ppm Cu up to 1,200 ppm Cu) to Bluebird. (Intersections used are shown in Table 2).

-          The copper anomaly is similar to the “pre-discovery” copper anomalism over Bluebird in terms of size and intensity.

-          The copper anomalism is “blind”, like Bluebird, with no surface expression under shallow cover.

-          The anomaly is co-located on a strong linear E-W feature in the airborne magnetics and adjacent to a E-W strong gravity feature. (See Figure1 and Figure 5, Barkly Regional Gravity).

-          The anomaly has limited assay results below 50m depth for its current 250m strike length.

Figure 2. Plan View showing bedrock copper anomalism models (200 and 300ppm) from previous drilling 0-50m below surface data only. 3-D modelled Bluebird high grade mineralised zones shown in blue-purple-grey

Figure 3. Long Section showing bedrock copper Anomalism 200ppm (red) and 300ppm (orange). BluebirdI High Grade mineralised zones shown in blue-purple-grey. Drilling traces in white. Untested high-potential areas shaded inbetween dashed-red lines.

Following a review of the sampling from the recently completed Slimline RC drilling at the Bluebird East target extending east from 449,240mE, several more detailed selected 1 metre samples have been sent to the laboratory and remain outstanding. Assays of the initial five metre composites did not intersect any significant intervals for copper and gold. Iron enrichment is noticed from drill logs and assays. The identified anomalism warranted the more detailed test-work. For drilling locations see Figure 1.

Table 1 – Informing Drill Intersections for Bluebird Copper Anomalism (Collars included in Appendix 1)

Table 2 – Informing Drill Intersections for Bluebird East Copper Anomalism (Collars included in Appendix 1)

Previous Drilling Results

Previous results reported from Bluebird included thick, high-grade copper and gold intersections, plus silver, within the regional ironstone gravity corridor (Figure 4). Opportunities for extension to high-grade copper and bonanza gold zones remain, with the mineralisation structure still present,  open to the west and downplunge1. Future drilling will aim to build on the large number of previous exceptional intersections at Bluebird.

Highlights include:

-            14.1m @ 7.6% Cu, 2.4 g/t Au from 90.64m incl. 2.6m @ 18.8% Cu, 12.3 g/t Au2 in BBDD0042,

-            17.95m @ 11.1 g/t Au, 2.7% Cu from 131m incl. 5.1m @ 38.6 g/t Au, 6.1% Cu3 in BBDD0026,

-            61.8m @ 2.3% Cu, 0.4 g/t Au from 149.2m incl. 6.8m @ 17% Cu, 0.5 g/t Au4 in BBDD0045,

-            30.5m @ 6.2% Cu, 6.8 g/t Au from 153.6m incl. 17.8m @ 5.2% Cu, 11.5 g/t Au5 in BBDD0018,

-            63m @ 2.1% Cu, 4.6 g/t Au from 153m incl. 27.55m @ 3.6% Cu, 10.0 g/t Au6 in BBDD0012, and,

-            24m @ 0.66% Cu, 11.8 g/t Au from 161m incl. 5.7m @ 0.74% Cu, 49.3 g/t Au7 in BBDD0021.

-            14m @ 0.8% Cu, 3.0 g/t Au, 3.6 g/t Ag, 0.1% Bi) from 233m incl. 5m at 8.3 g/t Au, 2.0% Cu, 9.8 g/t Ag, 0.27% Bi in BBRC00408.

-            18m @ 1.1% Cu, 0.22 g/t Au from 260m incl. 8m @ 2.1% Cu, 0.48 g/t Au in BBRC00448

-            3m @ 3.7% Cu, 0.19 g/t Au, 3.4 g/t Ag from 342m in BBRC00418

-            28m @ 1.6% Cu, 0.5 g/t Au, 2.4 g/t Ag from 146m incl. 16m @ 2.5% Cu, 0.62 g/t Au, 2.7 g/t Ag in BBRC00348

Figure 4. Longitudinal projection including new intersections.

Next Steps

The Company is currently focused on the following activities;

-          Review and revision (if required) of the Bluebird Mineralised zones, targeting gaps and undrilled areas to support the planned mineral resource calculations.

-          Plan a follow up drilling program over the Bluebird East target area, to test the widespread bedrock Copper anomalism below 50m depth.

-          Interpretation of new auger soil sampling assay information that has been collected over the entire Barkly project controlled by Tennant Minerals (Figure 5).

-          Integrate outstanding assays from the program, including several  1 metre samples sent for assay from Bluebird East for further analysis.

Figure 5: Detailed 1VD gravity background showing current high priority exploration targets at TMS Barkly project

Authorised for release by the Board of Directors

***ENDS***

REFERENCES

1 25/04/2025. Tennant Minerals (ASX:TMS): “Drilling in Bluebird Corridor”

2 04/12/2023. Tennant Minerals (ASX.TMS): “Exceptional Copper and Gold Results at Bluebird Extension”.

3 19/07/2023. Tennant Minerals (ASX.TMS): “Drilling Doubles Strike Length of Bluebird Cu-Au Discovery”.

4 12/02/2024. Tennant Minerals (ASX.TMS): “Exceptional 61.8m 2.3% Copper Intersection at Bluebird”.

5 08/02/2023. Tennant Minerals (ASX.TMS): “Spectacular Bluebird Drill-Hit 30.5m @ 6.2% Cu, 6.8 g/t Au”.

6 17/08/2022. Tennant Minerals (ASX.TMS): “Bonanza 63m@2.1% Copper and 4.6 g/t Gold Intersection at Bluebird”.

7 07/03/2023. Tennant Minerals (ASX.TMS): “Bonanza Bluebird Gold Results Including 5.7m @ 49.3 g/t Au”.

8 20/09/2024. Tennant Minerals (ASX:TMS): “Thick High-Grade Gold and Copper Hits at Bluebird”

For enquiries please contact:

Vincent Algar

CEO

+61 8 9481 7833

Tanya Newby

Company Secretary

+61 8 9481 7833