Company
ASX:TEM
Tempest Minerals Ltd is a mineral exploration company with a diversified portfolio of projects in Western Australia that are prospective for precious, base and energy metals. The company is particularly focused on the Yalgoo goldfield, with world-class deposits every 10 kilometres including high-grade gold, copper, zinc, tungsten and iron, and major infrastructure in place just 400 kilometres from Perth.
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“With KML’s renewed focus on production at the Karara Magnetite Mine, there is a natural synergy to work on our projects with Tempest who are actively exploring in the region," says KML’s senior executive.
Investments and investor services
The company recently intersected high-grade gold and highly anomalous base metal and iron grades, confirming the potential for its Euro Project in the Yalgoo region of Western Australia.
Results received in the most recent drilling program correlate with historic results as well as now exhibiting highly anomalous polymetallic (gold, base metals and iron) intersections across the drill horizon.
The funding runway will initially support exploration at the Yalgoo projects, including the recent high-profile Meleya polymetallic discovery.
Detailed geological logging is currently underway, with core cutting and initial submissions to the labs expected during April.
Tempest's share price recently soared on a new copper discovery described as "spectacular" that was uncovered during a drill program at the Orion target, part of the company’s flagship Meleya Project in Western Australia.
“To make a new discovery on our very first hole into an entirely untested region far exceeds our expectations,” says MD
The materials stock will use the fresh funding to explore what MD Don Smith describes as “an enviable portfolio” in the heart of Western Australia’s Yalgoo and Mount Magnet districts.
The company’s shares will remain in a trading halt until Thursday, August 26, or when an announcement is released to the market.
The company has recorded the presence of iron-bearing formations that are consistent with those found at nearby mining operations.
The company is progressing drill approvals and planning at several targets within the Euro Project.
The company’s data and technology focussed strategy along with a large regional magnetics dataset were remodelled and it led to confirmation of multiple gold, base metal and iron ore targets.
The encouraging geochemistry intersected provides new geological understanding to underpin future drilling programs and further discoveries.
Tempest is progressing the Messenger Project with around 2,100 metres of drilling completed in an area that is known historically to bear high-grade gold.
The company has completed 23 holes for 2,100 metres in an area in the Yalgoo Region known historically to bear high-grade gold.
The company recently increased its landholding at Messenger with a new extension that covers the historical high-grade Messengers Patch gold production area.
The company plans to begin a 2,500-metre drilling program in the coming weeks focusing on the extension of known lode-hosted gold mineralisation and a new VMS target.
Modelling of datasets has generated several compelling exploration targets at the Project with the company aggressively progressing work to begin drilling.
The company has received additional assays from recently completed drilling at the project confirming the presence of gold with the mineralised zone remaining open at depth and along strike.
Drilling of Wee Lode prospect has intersected sulphides, greenstones and potential new mineralisation to follow initial OK Corral prospect results.
