- Tempest Minerals (TEM) confirms the presence of copper and other metals from its first drill hole at the Orion target within its Meleya project in Western Australia.
- However, the company says results were lower than what it previously expected from initial visual estimates
- In spite of this, Tempest still believes the results indicate a large mineralised and has planned to “aggressively” pursue exploration at the project
- It has now completed a downhole electromagnetic survey, with further geophysics and drilling work planned to explore the area
- Shares in Tempest Minerals are down 38.64 per cent to 5.4 cents at 10:37 am AEST.
Tempest Minerals (TEM) has confirmed the presence of copper and other metals from its first drill hole at the Orion target within its Meleya project in Western Australia.
The company reported assays for a hole dubbed WARDH72, which previously caused shares to soar over 200 per cent after intersecting visible copper sulphide mineralisation.
However, today the company said the results were lower than what it previously expected from initial visual estimates.
In spite of this, Tempest said it still believed the results indicated a large mineralised system, and the company has planned to “aggressively” pursue exploration at the project.
To further its understanding of the Orion target, TEM completed a downhole electromagnetic (DHEM) survey to complement assay results.
In addition, geophysics and drilling have been planned to explore Orion and other targets over the newly confirmed mineralised belt.
Further assays are expected over the next eight weeks.
Shares in Tempest Minerals were down 38.64 per cent to 5.4 cents at 10:37 am AEST.