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Tennant Minerals Limited (ASX:TMS)

ALERT: Price-sensitive ASX Announcement for TMS
Current share price for TMS : $0.007 0 (0%)+
Announcement
Release
30 Oct 2026 8:07AM
Price at Release
$0.007
Full Release
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Summary
Tennant Minerals Limited (ASX:TMS) reported on its September 2026 quarter, highlighting continued advancement of its 100%-owned Barkly Copper-Gold Project in the Northern Territory with a primary focus on the high-grade Bluebird copper-gold-bismuth discovery. During the quarter, the company refined exploration targets through updated structural interpretation and gravity-magnetic modelling, identifying a 1.5km prospective structural corridor toward the Perseverance magnetic complex and four priority diamond drill targets within an 800m corridor west of and down-plunge from the existing Bluebird resource; this followed earlier strong drill results below the current resource, including 18m at 10.0g/t AuEq in hole BBDD0050. Post quarter end, TMS commenced a new multi-stage diamond drilling program to test potential extensions and repetitions of the Bluebird system, while also undertaking up to 3,000m of aircore/slimline RC drilling at the Kamran West/Perseverance North target. The report also noted ongoing participation in the Tennant Creek Copper Alliance feasibility study for a shared processing facility. Corporate highlights included completion of tranche 2 of a $2.8 million capital raising, raising about $1.07 million before costs. The company ended the quarter with cash and cash equivalents of $1.91 million, total quarterly cash outflows of $708,000, including $427,000 on exploration activities, and estimated funding for 2.70 quarters. The attached Appendix 5B showed net cash used in operating activities of $289,000, net cash used in investing activities of $419,000, net cash from financing activities of $1.182 million, and payments to related parties of $15,000 for directors’ fees. The report also restated the October 2025 Bluebird open-pit Mineral Resource Estimate of 1.58Mt at 1.30% CuEq containing copper, gold, silver and bismuth, and outlined planned December 2026 quarter activities including completion of Stage 1 drilling, follow-up planning, regional target testing and progressing the processing study.
Key Points
  • Tennant Minerals focused on advancing the Bluebird copper-gold-bismuth discovery at its 100%-owned Barkly Copper-Gold Project during the September 2026 quarter.
  • Geological, structural and geophysical work refined a 1.5km prospective corridor toward Perseverance, with four priority diamond drill targets identified within an 800m corridor west of and down-plunge from Bluebird.
  • Earlier 2026 drilling below the Bluebird resource returned 18m at 10.0g/t AuEq including 4.55m at 34.3g/t AuEq in hole BBDD0050.
  • A new multi-stage diamond drilling program commenced after quarter end to test extensions and possible repetitions of the Bluebird mineralised system.
  • Regional exploration included an aircore/slimline RC program of up to 3,000m at Kamran West/Perseverance North targeting geochemical and geophysical anomalies along the Kamran Fault.
  • Tennant continued participating in the Tennant Creek Copper Alliance feasibility study for a shared processing facility in the Tennant Creek mineral field.
  • The company completed tranche 2 of its $2.8 million capital raising in July 2026, raising approximately $1.07 million before costs through the issue of 164,296,615 shares.
  • Tennant ended the quarter with cash and cash equivalents of $1.91 million.
  • Total quarterly cash outflows were $708,000, including approximately $427,000 used to progress exploration activities.
  • Appendix 5B reported net cash used in operating activities of $289,000, net cash used in investing activities of $419,000, and net cash from financing activities of $1.182 million.
  • Payments to related parties totalled $15,000 and related to directors’ salary, fees, superannuation and reimbursements.
  • The Bluebird October 2025 open-pit Mineral Resource Estimate remained 1.58Mt at 1.30% CuEq, including indicated and inferred resources containing copper, gold, silver and bismuth.
  • Estimated funding available at quarter end was 2.70 quarters based on relevant outgoings.
  • Planned December 2026 quarter activities included completing Stage 1 diamond drilling, completing regional aircore/slimline RC drilling, planning Stage 2 testing, and progressing the Tennant Creek processing study.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.