- Tempest Minerals (TEM) shares have spiked today after intersecting “significant” visible copper sulphide mineralisation in its first drill hole at the Meleya project in WA
- The initial hole was drilled to 709 metres at the Orion target, with several zones of mineral enrichment noted
- A second drill hole is currently in progress, with drilling to reach a depth of 1100 metres
- Upon completion, the company will undertake detailed logging and analyse all drill core before submission to a laboratory for assays
- Shares are up 204 per cent to 7 cents each
Shares in Tempest Minerals (TEM) have soared over 200 per cent today after intersecting “significant” visible copper sulphide mineralisation in its first drill hole at the Meleya project in WA.
The hole was drilled to 709 metres at the Orion target, with several zones of mineral enrichment noted.
The project is located in the Yalgoo region of WA, which hosts the Golden Grove mine, one of Australia’s most successful high-grade copper zinc and precious metal operations.
The drill hole was intermittently mineralised throughout, with geology comparable to Golden Grove.
A second drill hole is currently in progress, with drilling to reach a depth of 1100 metres.
Upon completion, the company will undertake detailed logging and analyse all drill core before submission to a laboratory for assays.
The assays are expected in the June quarter.
Managing Director Don Smith said the discovery exceeded his expectations.
“This drilling was designed to help understand the geology and to inform future exploration and we’ve actually hit multiple zones of sulphides and copper mineralisation,” he said.
“It shows our tech innovation, science and hard work are paying off.”
“The team and I are very excited and just itching to get on with analysing exactly what we have here, do more drilling and continue exploring the hundreds of square kilometres of untested ground along strike we have secured.”
Shares rocketed 204 per cent today to 7 cents each at 12:24 pm AEDT.