Analysis of new geological data and mineral potential assessment has found that an area east of Tennant Creek, in the Northern Territory, could hold mineral deposits worth some A$12.4-billion, federal Resources Minister Keith Pitt said on Wednesday.
The data and assessments were collected as part of the government’s A$225-million Exploring for the Future programme. Detailed data collected in the East Tennant area suggests it could host a new mineral deposit with characteristics similar to those of Ernest Henry near Mount Isa, one of the largest copper-gold mines in Australia.