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New broad zones of sulphides intersected at Tempest Minerals’ (ASX:TEM) Euro

Image Source: Company website

Highlights

  • The latest drilling campaign at Euro has been concluded, intersecting broad zones of sulphide mineralisation.
  • Core samples from final holes are currently being logged and sampled and will be sent for a multi-element analysis.
  • Siteworks for the EIS co-funded drill program at the Meleya Project are ongoing.

Shares of diversified minerals explorer Tempest Minerals Limited (ASX:TEM) zoomed ~4.5% after the company shared an exploration update for its Euro Project in the Yalgoo region of Western Australia.

The company announced that additional drill holes had intersected broad zones of sulphide mineralisation at Euro.

Buoyed by the significant update, Tempest traded at AU$0.023 on 16 February 2022 at 12:44 PM AEDT.

Read Here: Tempest Minerals Limited (ASX:TEM) progresses on diamond drilling at Euro

Drilling update

Drill areas at Euro with >1km mineralised corridor Source: Tempest Minerals Announcement 16 February 2022

The drilling campaign at Euro has been concluded, testing three target zones. The exploration campaign included over 890m of diamond drilling. Core samples from final holes, WARDH70 and WARDH71, are currently being logged and sampled and will be sent for a multi-element analysis.

The recently concluded drilling program targeted areas which host gold mineralisation within quartz sulphide veins in the larger associated alteration system. Tempest considers the extensive mineralisation and favourable geology intersected during the drilling campaign to be encouraging and potentially bodes well with historical drill results. The drilling so far showcases a greater-than-1km mineralised corridor at the project.

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Semi-massive sulphides intersected at WARDH71 Source: Tempest Minerals Announcement 16 February 2022

Geology and alterations may demonstrate the presence of large mineralisation systems including skarn and volcanogenic massive sulphides (VMS). Assay results from the current drilling are awaiting and the planning for follow-up drilling is in progress.

Euro Gold and Iron Ore Project

The Euro Project stretches over 176 km2 in the prolific Yalgoo region of Western Australia, where Tempest holds a ground position of more than 900km2(>604 km2 granted and 311 km2 of pending). The Euro Project lies within the southern Yalgoo Greenstone belt with primary host rock stratigraphy of ultramafic, mafic and felsic volcanic and sedimentary sequences such as banded iron-formations (BIF). The geology is interpreted to be similar to major nearby deposits including Karara, Rothsay and Mount Mulgine.

Read Here: Tempest Minerals Limited (ASX:TEM) progresses on diamond drilling at Euro

The underexplored geological terrain, which hosts Euro, is also home to several mineral project’s under development or operations, including Karara (Iron), Shine (Iron), Mt Mulgine (Gold/Tungsten) and Rothsay (Gold/Copper).

Source: Company Website

Several sections of the project explored in the 1990s and 2000s returned significant potential for iron ore and gold. The recent drilling at Euro aimed at delineating new and already known areas of mineralisation, which had resulted in substantial historic gold results such as –

  • NR017: 17m at 1.2g/t from 20m
  • NR018: 15m at 2.3 g/t (including 7m at 3.4g/t) from 15m
  • MBRB021A: 9m at 1.2 (including 2m at 11.4g/t) from surface

The Way Forward

The subsequent steps at the Euro project would include -

  • Laboratory results for the drill program due in Q1, 2022.
  • Drill planning and approval under progress.
  • Groundwork for the Exploration Incentive Scheme (EIS) co-funded drilling program at the Meleya Project is already underway.

 


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