Ann: Bluebird Metallurgy Delivers 23% Cu, 1.5g/t Au Concentrate, page-7

Bluebird First-pass Metallurgical Test-work Delivers
23% Copper and 1.5 g/t Gold in Concentrate
➢ Initial results of early test-work show that up to 97% of the copper in a drill-core composite from the
Bluebird project can be extracted via conventional flotation, delivering a copper concentrate grading
23% copper (Cu) and 1.5 g/t gold (Au) (see grade recovery curves, Figure 1).
➢ The flotation upgrade represents a 10-fold increase in copper and a 4-fold increase in gold
concentration from the diamond drillhole intersection in BBDD0045 of 61.8m @ 2.3% Cu, 0.4 g/t Au
including 13.2m at 9.6% Cu, 1.51 g/t Au1.
➢ The metallurgical test-work was undertaken to determine overall copper and gold recovery parameters
for typical mineralisation seen in shallow and deeper copper-gold bearing intersections, enabling the
Company to determine the optimal extraction process for the Bluebird mineralisation.
➢ Four flotation tests on a drill-core composite sample from BBDD0045 achieved over 91% Cu, and up
to 97% Cu recovery to concentrate, at a range of grind sizes from 53 μm to 75μm (refer Table 1). Gold
recovery to the flotation concentrate was significant at 66%.
➢ Separate gravity (Falcon) concentration test-work (see Figure 2), conducted on the master composite
sample (BB_45_1), upgraded the sample from 0.23 g/t Au to 0.67 g/t Au – a 3-fold increase. The gravity
concentrate contained 32.6% of the gold and 15.7% of the copper (refer Table 2). Intense cyanidation
leaching of the gravity concentrate was able to extract 90.2% of the contained gold recovered in the
gravity circuit. Further work will explore further gravity concentration and leaching stages, in
conjunction with flotation, to potentially increase gold recovery.
➢ The initial report from the metallurgical consultant, Strategic Metallurgy, shows that these positive
results achieved from the initial (rougher) flotation tests, and the gravity and cyanidation leach test
work on the Bluebird core samples, are very likely to be further improved in the ‘cleaner’ stage of
flotation.
➢ A new drilling program to commence following the Northern Territory wet season will aim to define
and extend the Bluebird discovery zone (see longitudinal projection, Figure 3) and enable a maiden
copper-gold Mineral Resource to be estimated, with potential to support a stand-alone mining and
processing development at the Company’s Barkly Project.
Tennant Minerals CEO Vincent Algar commented:
“The significant initial copper flotation results with 23% copper and 1.5 g/t gold in concentrate, and the
high copper recoveries of up to 97%, are extremely encouraging and indicate potential for positive
outcomes from future economic studies into mining and extraction to produce a saleable copper and gold
concentrate
“Copper with gold concentrates of this grade are potentially economic at current copper and gold prices,
and provide the Company with a strong incentive to continue drilling, advance metallurgical test-work and
define a maiden Mineral Resource.
“We look forward to launching our next drilling program to define and extend the enlarged mineralised
footprint as we progress plans to establish a stand-alone mining and processing operation to capitalise on
the resurgent global demand for copper and gold.
“Multiple drilling intersections at Bluebird have already confirmed the discovery of high-grade copper with
gold mineralisation over a 500m strike-length and to over 300m depth, with further expansion potential
shown to over 400m depth and along more than 800m of strike.”