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Tempest Minerals (ASX:TEM) bags EIS grant for drilling at Meleya

November 18, 2021 08:00 PM AEDT | By Akshay
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Highlights

  • Tempest has been successful in its application in round 24 of the Western Australian Government’s Exploration Incentive Scheme.
  • Tempest has plans to commence the 2,000m drilling program in Q1 2022.
  • The EIS grant will co-fund up to AU$150,000 towards the maiden drilling program at Meleya to test several targets along the more than 50km unexplored strike.

In an upbeat development, Tempest Minerals Limited (ASX:TEM) has landed a AU$150,000 grant from the Western Australian state government to support its maiden drilling at the wholly-owned Meleya Project. TEM has been a successful applicant in round 24 of the WA Government’s Exploration Incentive Scheme (EIS) and will receive the grant from the Department of Mines, Industry, Regulation and Safety (DMIRS).

 In Q1 2022, Tempest plans to carry out ~2,000m drilling at the Meleya project, which includes over 50km of untested extension of the eastern Yalgoo Greenstone Belt, which hosts world-class mineral deposits such as Golden Grove.

Currently, Tempest is undertaking a diamond drilling campaign at the Euro Project to test gold targets in areas of historical exploration success.

Exploration Incentive Scheme (EIS)

Started in 2009 by the WA Government, the Exploration Incentive Scheme (EIS) is an initiative to provide a funding mechanism for research-based geoscience (including drilling). The initiative aims to ramp up resource exploration by private players to make new mineral and energy discoveries.

The grant is extremely competitive and is decided by an expert panel using a point-based system to evaluate on numerous criteria comprising geoscientific value and the potential to progress to economic exploration success.

Tempest wish to recognise the significant contribution and support of the exploration industry made by various Western Australian government departments, including the Geological Survey of Western Australia (GSWA), the Resource Strategy Division (GSRSD) within the Department of Mines Industry Regulation and Safety (DMIRS).

The awarding of the grant in round 24 of the Western Australian EIS is believed to be due to the exciting prospect of exploring new geological terrain and the rigorous geoscience behind the project.

EIS grant to fuel exploration activities at the Meleya Project

Tempest owns a 100% stake in the Meleya project and is a part of the Company’s Yalgoo region portfolio that stretches over more than 900 km2. Tempest’s Meleya project is considered one of Australia’s most exciting greenfields base and precious metal exploration opportunities. 

Geological plan of the Meleya project Source: Tempest Minerals announcement 18 November 2021

Tempest has already recognised more than 50km strike of previously unexplored, highly prospective geology within the Yalgoo Greenstone Belt.

Under Round 24 of the Western Australian Government Exploration Incentive Scheme, Tempest had applied for EIS co-funded stratigraphic drilling at the Meleya Project. The drill program will concentrate on three priority areas with known geochemical anomalism. It will provide an opportunity to further develop the geological understanding and also enhance the ongoing exploration efforts in the promising terrain.

Data Source: Tempest Minerals announcement 18 November 2021

Previously in 2020, Tempest had completed a wide spaced geochemical sampling and demonstrated the prospectivity of host rocks and numerous coincident geochemical and geophysical anomalies along the strike extension of several world class deposits.

The EIS grant will co-fund the maiden drilling program at Meleya to test several targets along the more than 50km unexplored strike.


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