"Tennant Minerals (ASX:TMS)Tennant Minerals has a market cap of...

"Tennant Minerals (ASX:TMS)

Tennant Minerals has a market cap of around $20m and is on the trail of a copper and gold deposit in the Northern Territory at its Bluebird discovery.

Drilling has identified “intensely copper mineralised” intersections which have doubled the strike-length of the deposit to 240m with a depth extent of over 300m.

More assays are expected soon with drilling likely to recommence for Stage 2 drilling after the NT wet season in March and April.

Located within the Barkly project in the Tennant Creek field, where past production has included 5.5Moz of gold and 700,000t of copper, non-exec chairman Matthew Driscoll said further discovery potential abounds.“The latest drilling at Bluebird has continued to grow the discovery, which remains completely open.

Following the keenly awaited assay results we plan to recommence drilling aimed at further expanding the resource potential of this very exciting copper-gold discovery,” he said in the group’s quarterly report.
“Using geophysical targeting, the company has identified potential for multiple other copper-gold deposits within 2.5km of Bluebird and given mineralisation at Tennant Creek tends to be clustered, we have high expectations that we will be making further discoveries within the Barkly Project in 2023.”