- Tempest Minerals (TEM) increases its mineral exploration landholding in the Yalgoo region of Western Australia by 195 square kilometres
- The company’s holding in the area now spans over 1000 square kilometres through the acquisition of five “highly-prospective” licences adjoining existing projects
- The tenements comprise three exploration licence applications, one prospecting licence application, and one granted exploration licence
- TEM says this solidifies it as the “dominant regional explorer” of the area, with a landholding of around 25 per cent
- The company is now awaiting results from a 2022 soil sampling program that took place in February at the Meleya project
- Tempest Minerals shares are up 8.33 per cent to 2.6 cents at 10:59 am AEDT
Tempest Minerals (TEM) has increased its mineral exploration landholding in the Yalgoo region of Western Australia by 195 square kilometres.
The company’s holding in the area now stretches across more than 1000 square kilometres through the acquisition of five “highly-prospective” licences adjoining existing projects.
The tenements comprise three exploration licence applications, one prospecting licence application, and one granted exploration licence, acquired for $45,000 in TEM shares.
The company said this solidified TEM as the “dominant regional explorer” of the area, boasting around 25 per cent of the regional landholding.
Three of the recently acquired exploration leases further extend the company’s flagship Meleya project along strike to the southeast, where TEM recently completed fieldwork, including multiple drill programs and large-scale soil sampling.
Tempest told investors it feels the region remained underexplored and, on the back of strong 2022 exploration results, hosted the opportunity to hold major discoveries.
The Yalgoo mineral field is currently an “extremely active” region, with numerous high-profile neighbours in the vicinity of TEM projects. Among them are Gascoyne Resources’ (GVY) Yalgoo gold project, Venture Minerals’ (VMS) Golden Grove North project and Tungsten Mining’s (TGN) Mt Mulgine project.
Tempest said it was now awaiting results from a 2022 soil sampling program that took place in February at the Meleya project.
Tempest Minerals shares were up 8.33 per cent to 2.6 cents at 10:59 am AEDT.