Blaze International defines new targets at Barkly, fully funded for copper-gold drilling

Published at Sep 15, 2014, in Mining

Blaze International (ASX:BLZ) has identified nine high priority targets, all with coincident magnetic and gravity anomalies, at the joint-ventured Barkly Copper-Gold Project in the Tennant Creek Mineral Field in the Northern Territory.

Under the terms of a joint venture with Meteoric Resources (ASX:MEI), BLZ has already earned a 50% interest in the Project and has the right to earn up to 80%.

The Bluebird copper-gold Prospect is BLZ’s priority prospect at Barkly, and comprises a 1.6km long gravity ridge open to the east, where shallow geochemical drilling by Meteoric Resources identified a 600m long copper anomaly, also open to the east. The Bluebird Prospect is geologically comparable with large historic deposits nearby such as Nobles Nob and Peko.

Numerous untested remnant magnetic anomalies similar to Bluebird were identified in re-processed ground magnetic data, along with coincident ground gravity anomalies.

Targets will be further refined and rationalised by geological mapping and surface geochemistry before drill testing.

Tennant Creek Mineral Field

The Tennant Creek Mineral Field has generated over 5.5 million ounces of gold at 19.3 g/t and 448,000 tonnes of copper at 2.9%.

Notable historic deposits, both located within 20km of BLZ’s Barkly Project, are the Peko mine and Nobles Nob mine. Peko produced 414,000 ounces of gold at 3.5g/t gold with 147,000 tonnes of copper at 4%; while Nobles Nob produced 1.1 million ounces at 17g/t gold.

Recent activity in the Tenant Creek Mineral Field includes a commitment by $470M market cap Evolution Mining (ASX:EVN) to spend around $28 million on exploration in the region in joint venture with $14M market cap Emmerson Resources (ASX:ERM).

Geophysical targeting

The two most important geophysical techniques for targeting Tennant Creek style copper-gold mineralisation are magnetics and gravity surveys.

A number of companies have collected data within the Barkly Project area over several decades, and BLZ has now acquired all of this information. Some closed file aeromagnetic data are still being acquired.

The magnetite rich ironstones hosting the mineralisation strongly contrast with the relatively weakly magnetic Warramunga Formation country rock sediments.

The ironstones and associated sulphide mineralisation are also denser than the country rock and may therefore be amenable to detection by gravity surveying.

Gravity is particularly important in targeting non-magnetic hematite hosted deposits such as Peko and Nobles Nob.

The reprocessed, gridded and imaged geophysical datasets have allowed BLZ geologists to fingerprint the signature of the Bluebird mineralisation and find other similar features within the Barkly area.

The targets will be ranked based on coincident magnetic, gravity and geochemical anomalies similar to Bluebird or other nearby deposits.

Of particular interest is a large magnetic body, coined “General Electric”, with a deep root system. 3D inversion modelling of the ground magnetics has refined the anomaly.

General Electric hosts several remnant magnetic anomalies and coincident gravity anomalies which will be the initial focus of follow-up activity.

Fully funded

The company is now fully funded for comprehensive copper-gold drilling at the Barkly project.

BLZ entered into a convertible note trust deed to raise up to $1.25 million from sophisticated and professional investor clients of CPS Capital group.

The notes to be issued have a face value of $0.0008, a flat interest rate of 10%, a maturity of 6 months from date of issue and are convertible into BLZ shares on a one for one basis.

This planned drilling program is designed to follow-up on standout holes from the previous program at Bluebird: 20 metres at 8.17g/t gold, 0.61% copper and 0.22% bismuth from 157 metres, which including 4 metres at 37.9g/t gold.

The aim of the drilling program is to enable the estimation of an initial JORC 2012 mineral resource estimate for Bluebird and assess the economics of a potential mining project.

View Our Investment Portfolios



S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why is Australia’s leading small cap publication

Founded seven years ago, is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise. provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more. is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!