New data points to potential $12.4bn worth of minerals near NT’s...

New data points to potential $12.4bn worth of minerals near NT’s Tennant Creek
Mining
August 6, 2020 | Mike Cooper
Northern Territory miners stand to benefit from new scientific data showing an area east of Tennant Creek, a major resource hub, is host to mineral deposits potentially worth up to $12.4bn.
The data was gathered by a $225m federal government-funded mining exploration program, Exploring for the Future, and includes new geological data and mineral potential assessments.
“Detailed data collected in the East Tennant area suggests it could host a new mineral deposit with characteristics similar to those of the Ernest Henry near Mount Isa – one of the largest copper-gold mines in Australia,” federal resources, water and northern Australia minister Keith Pitt said.
“Exploring for the Future has helped narrow down the search for mineral explorers, giving them pre-competitive data they need to make an investment decision.”
The exploration program is led by Geoscience Australia and uses cutting-edge techniques to collect new data and information about potential mineral, energy and groundwater resource systems.
The area surrounding Tennant Creek, where many explorers are currently active, has been a focus for Geoscience Australia for some time. In March last year, Geoscience Australia flew the “world’s largest airborne electromagnetic survey” over the area between Tennant Creek in the Northern Territory and Mt Isa in Queensland.
News of the Exploring for the Future data is likely to be welcomed by Tennant Creek miners listed on the ASX.