Prosperity’s Tennant Creek Property is situated around the small township of Tennant Creek, located 500 kilometres north of Alice Springs and 1000 kilometres south of Darwin.

Tennant Creek was the site of Australia’s last major gold rush in the 1930s following the realisation that rich gold mineralisation was hosted by “iron-stones” and not quartz, in which prospectors commonly looked for gold.

Since then, the Tennant Creek Goldfield has produced over 5.5 million ounces of gold and close to 470,000 tonnes of copper.

Prosperity holds a significant tenement holding with strategically positioned tenement groups in the southern, central and northern areas of this large goldfield, well known for its small but very high-grade deposits.

The Prosperity tenements lie within very prospective areas of the Tennant Creek Goldfield adjacent to some of the largest mines (e.g. Warrego and Juno) but are unique in that these leases have virtually no drilling on them.   This dramatically increases the possibility of new discoveries being made at comparatively shallow depths.

Prosperity has just completed a comprehensive review of the geology and mineralisation of Tennant Creek which has confirmed provided new insights into the exploration of this under-explored goldfield.

The review highlights that the historical reliance on geophysical prospecting as the primary exploration methodology led to the declining discovery rates and has focussed past discoveries on a select group of deposits at Tennant Creek. This has constrained the discovery of larger deposits.

Prosperity understands the need for additional input related to the common geology and geochemical features of large gold systems are the key to improved prospect targeting and cost efficient exploration at Tennant Creek. 

The Company has indentified a number of exciting new targets at Tennant Creek, and the testing of these prospects will commence in the coming field season.