Tempest Minerals (ASX:TEM) is laying out plans for further fieldwork and a drilling program at its Range Project in Western Australia after uncovering new gold-bearing structures.
The $5.11 million market capitalisation company says the new structures were identified from a program of field mapping, sampling, and data consolidation in the area.
Tempest reports that preliminary rock sampling of the ‘new and exciting’ targets has confirmed anomalous gold up to one gram per tonne (g/t) along-strike from historical mining operations.
The company completed a full review of the project in conjunction with these recent activities and highlighted metasedimentary outcrops corresponding to prominent magnetic features, especially in the northwestern flank of the tenement.
These outcrops support the company’s hypothesis that the feature may be the continuation of the Boogardie formation metasediments found in the mineralised zone of the Britannia Well pit and other mining centres in Mount Magnet.
Tempest announces regional geological modelling is currently progressing, with further fieldwork and a sampling program planning now underway.
Drill planning has also begun for both the Cherokee and Outlander targets. Pending approvals and other work, drilling is expected to begin in 2024.
Tempest Minerals is a mineral explorer with a diversified portfolio of projects in Western Australia considered ‘highly prospective’ for precious, base, and energy metals.
The company’s Range Project sits in the heart of the Mount Magnet mineral field and 5km along strike of the prolific plus-6-million-ounce Mount Magnet Operations. The project consists of 17 tenements for a total area of 20km-square.
Tempest Minerals had $2.037 million cash and cash equivalents at hand as of 30 September 2023, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Tempest Minerals