Transcription of The Stock Network Interview with Tennant Minerals (ASX:TMS), General Manager Chris Ramsay
Lel Smits: Tenant Minerals has secured firm commitments for a $2.8 million capital raising to accelerate exploration at its Barclay project in the Northern Territory. The raise follows new drilling at the Bluebird Discovery, standout high-grade gold, copper and bismuth results that have strengthened the project’s growth potential. I’m joined today by Tenant Minerals General Manager Chris Ramsey to discuss the latest drilling success, expansion potential at Bluebird and what the new funding enables next.
Chris, welcome back to the Stock Network.
Chris Ramsay: Great to be here, Lel.
Lel Smits: Now, recent drilling delivered standout copper, gold and bismuth intersections at Bluebird. What do you think these results really are revealing about the scale and also the quality of the system?
Chris Ramsay: Well, we’re very happy to say that it confirms the continuation of the main zone, importantly, the high-grade bismuth zone. You know, every step out makes a big difference. OK, so it’s a little bit bigger.
It builds our confidence and we really think we’ve got a substantial underground resource coming up. So we’re very pleased.
Lel Smits: Excellent. And when it comes to gravity modelling, it’s really suggesting that the mineralised zone could perhaps extend well beyond the current footprint. How significant do you think this upside is for Bluebird?
Chris Ramsay: Yes, well, we think, you know, the gravity is a key tool for the region, given that we’re targeting dense rocks, the ironstone. So the gravity tells us about those dense rocks.
What we really like, this is new gravity from last year. What we really like about it is it’s a coherent target, it’s structurally pointing in the right direction and it’s on the main trend from our new mineralised, from the mineralised structure in the new drilling. So all the right indicators there that we’re happy with.
And of course, the analogues with the Tennant Creek mineral field are most of these deposits are one, two, say two to three, four to five million tonnes. So we think we’re on the tip of the iceberg and we’re very happy and can’t wait to get to put the capital to work.
Lel Smits: Excellent. And in terms of the capital, as you mentioned, you’ve just raised $2.8 million. What are really your key priorities now when it comes to things like drilling, metallurgy and also those development studies over the coming months?
Chris Ramsay: Well, you know, we’re very pleased with the shareholder support, new shareholders and old. As you alluded to, the three key efforts that we’re going to make will be drilling.
And we’re also looking at some co-funding opportunities with the Territory Government to expand our next program even further. Of course, the metallurgy, as we’ve mentioned in our announcements, it’s with these gold numbers and with the high value bismuth now that we’ve got, we want to recommence our metallurgical test work to enhance the process and recovery. And why that’s important is that it feeds into the ongoing PFS that people are aware of that is part of the PF, part of the Tennant Creek Alliance that we’re a member of.
And our alliance partners and our metallurgical contractor have been doing some great work on isolating the high value bismuth and figuring out how we get that to market. So exciting times.
Lel Smits: Excellent. Well, I look forward to further updates and congratulations on the milestones to date.
Chris Ramsay: Thank you very much. Yeah, looking forward to a big year.
Ends