A review of historical exploration, new geochemical and gravity data has identified two large-scale high priority targets south of Tennant Minerals high-grade Bluebird Copper-Gold Project, east of Tennant Creek in the Northern Territory (NT).
Location of the Barkly Project, Northern Territory. Image Credit: Tennant Minerals Limited
The Babbler Gold Prospect identified in 1973 by Noblex (then ‘R29’) , is located 7 km SSE of Bluebird, some 35 km 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 500 m apart.
- Best historical results not previously presented include:
- 13 m @ 0.48 g/t Au from 90 m, including 7 m @ 0.68 g/t Au from 94 m in DDH466.
- 22 m @ 0.42 g/t Au from 33 m including 6 m @ 0.61g/t Au from 33 m, 3 m@ 2.91g/t Au from 71 m and 14 m @ 0.31 g/t Au from 81 m in DDH468.
- 12 m @ 0.57 g/t Au from 6 m including 1 m @ 1.22 g/t Au from 3 m, 6 m @ 0.46g/t Au from 39 m, 3 m@ 0.51g/t Au and 453 ppm Cu from 86 m in DDH469.
- DDH469 contains anomalous copper intervals of 56 m @ 251 ppm Cu from 49 m, including 2 m @ 855 ppm Cu from 72 m and 2 m @ 1200 ppm Cu from 92 m.
- The high level of gold anomalism in holes that are approximately 500 m apart, defines a potential kilometer 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 PaleoProterozoic 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 mineralization hosted in the untested Ooradidgee Group and the presence of VHMS deposits in the region .
- 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 5 km SW of Bluebird, some 35 km south-east of Tennant Creek.
- The prospect is a discrete 1.5 km x 650 m 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 East 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 finalize a scoping study for the development of Bluebird as part of a shared copper-gold processing facility in the region.
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 mineralization 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 7 km 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 Mineralization. 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.”
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