Tempest Minerals (ASX:TEM) is looking ahead to more fieldwork and drill targeting in 2024 at its Five Wheels Project in Western Australia as an initial fieldwork program gets underway.
The $4.09 million market capitalisation company says this initial fieldwork includes project setup, initial reconnaissance, and geological mapping and sampling within selected areas for the remainder of October, with results from the fieldwork expected in late Q4 2023. These results will help inform Tempest’s 2024 exploration plans for the area
Tempest first announced its acquisition of the Five Wheels projects back in July, and the company reports that it has since identified ‘important’ data from legacy exploration in the area that has added further value and anticipation to the project.
This data includes the discovery of key geological units associated with base metals mineralisation. Further, previous explorers in the area collected ‘high-grade’ soil results including 1,130 parts per million (ppm) copper and 847ppm zinc in soils.
Further, Tempest’s legacy data review has unlocked a 50km strike length of a ‘highly prospective’ target area.
The company has now begun a project-wide data compilation in conjunction with its initial fieldwork.
Tempest Minerals is scheduled to exhibit at the upcoming International Mining and Resources Conference (IMARC) held in Sydney from 31 October to 2 November 2023. Mining.com.au is an official media partner of IMARC, which will showcase 470-plus mining leaders and resource experts throughout 7 concurrent conferences.
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 Western Australian assets include the Five Wheels, Mount Magnet, Yalgoo, YLP, and Elephant projects, and the company also has exposure to lithium and lithium brine in Mozambique, Zimbabwe, and Nevada.
Five Wheels is located about 146km north of the township of Wiluna in the Western Australian Warburton Mineral field within the Nabberu Region.
Tempest Minerals had $2.644 million cash and cash equivalents at hand as of 30 June 2023, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Tempest Minerals
