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Tempest Minerals (ASX: TEM) finalises heritage agreements and exploration strategy for FiveWheels Project

June 03, 2024 10:44 AM AEST | By Sonal Goyal
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 Tempest Minerals (ASX: TEM) finalises heritage agreements and exploration strategy for FiveWheels Project
Image source: Company website

Highlights

  • Heritage and land access agreements finalised for all granted tenure at the FiveWheels Project.
  • Exploration plan for the project established for the upcoming financial year 2024-25.
  • The plan involves geochemistry, geophysics, and drill target generation.

Australian mineral exploration company Tempest Minerals Ltd (ASX: TEM) has successfully completed heritage and land access agreements with Mungarlu Ngurrarankatja Rirraunkaja Aboriginal Corporation RNTBC (MNR) for all the granted tenure of the FiveWheels Project. This ongoing collaboration with the traditional owners aims to ensure sustainable exploration.

In addition to finalising these crucial agreements, the company has also concluded a strategy planning session for the project, yielding an exploration plan for the next financial year 2024-25. The exploration plan includes geochemistry, geophysics, and target generation.

An existing land access agreement for prospecting and exploration already exists with the Marputu Aboriginal Corporation RNTBC.

The exploration plan 2024-25 involves the following five steps-

  • Collection and analysis of additional data
  • Widespread mapping and geochemical sampling
  • A geophysical survey
  • Generation of targets and field follow-up
  • Potential drilling

About FiveWheels Project

In July 2023, the company announced the acquisition of the FiveWheels Project, which spans across 266km2 and is located near the Western Australian mining town of Wiluna. The project neighbours significant base metal discoveries by ASX-listed companies, Strickland Resources and Rumble Resources. 

TEM shares traded at AU$0.010 apiece on 31 May 2024.


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