Tempest Minerals Ltd’s (ASX:TEM) (FRA:LIF) geologists have mapped outcrops of substantial iron-rich geological units during the recent reconnaissance fieldwork at the Euro Project in the Yalgoo Region of Western Australia.
This iron-rich stratigraphy, which has been mapped over multiple kilometres of strike length, may represent horizons highly prospective for both gold and iron ore and are typical of other major deposits and operations in the region.
These other nearby operations include Karara, with around 2 billion tonnes of iron ore, Sino Iron with around 4 billion tonnes of iron ore, and the Mt Gibson and Rothsay gold mines, each having around 1 million ounces.
The company is also progressing drill approvals and planning at several targets within the Euro Project, where historic drill holes intersected thick gold mineralisation.
Euro Project
The Euro Project covers more than 176 square kilometres of area, which is 100% owned by Tempest in the Yalgoo region of Western Australia.
Drilling in the 1990s and early 2000s has intersected significant gold mineralisation in the northern part of the project but due to depressed metal prices, further explorations were not carried out.
Notably, the project is wedged between 4 current major operations: Karara (Iron), Shine (Iron), Mt Mulgine (Gold/Tungsten) and Rothsay (Gold/Copper) and share the same geology and much of the project remains largely unexplored.
The project is part of the southern Yalgoo Greenstone belt and has been previously mapped as dominated by intercalated layers of ultramafic, mafic and felsic units.
Significant development
The company believes that the presence of substantial outcropping iron-bearing stratigraphy is a significant development at the project and has multiple implications.
Iron formations such as those identified by Tempest are typical of iron ore mineralisation and also host a large percentage of gold deposits in Western Australia.
Tempest considers the geology comparable to that being mined at neighbouring iron ore mines and also provides significant scope for gold mineralisation as noted throughout the region.
Next steps
Tempest has mobilised a team to conduct extensive mapping and survey of iron formations at the project.
It is planning to start geochemical and geological surveys over other priority targets next week.
The preparation for beginning the drilling at the project, particularly at Calais target, including obtaining approvals is in advanced stages.