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Summary
Tempest Minerals Ltd (TEM) is pleased to provide information on progress at the FiveWheels Project. TEMhas finalised heritage and land access agreements for all granted tenure at the project with the Traditionalowner corporation, Mungarlu Ngurrarankatja Rirraunkaja Aboriginal Corporation RNTBC (MNR).TEM has also completed a strategy planning session for the project and finalised an exploration plan for thenext financial year 2024-25 that includes: geochemistry, geophysics and target generation.
Key Points
- Heritage agreements for all granted tenure completed
- Collaborative exploration plan for FY 2024-25 completed
- Upcoming exploration plans include geochemistry, geophysics and drill target generation
FiveWheels Project
Background
In July 2023, Tempest announced theacquisition of the FiveWheels Project.
The FiveWheels Project is 266km2 ofgranted tenure on the Earaheedy Basin'snorthern edge. This is located ~146 kmnorth of the Western Australian miningtown of Wiluna.
This region was reinvigorated in 2021 bythe major discovery of base metals byRumble Resources (ASX:RTR) 2 and in2023 with a globally significant inferredMineral Resource Estimate (MRE) of94Mt @ 3.1% Zn + Pb and 4.2g/t Ag (ata 2% Zn + Pb cutoff)] 3. NeighbouringStrickland Resources Ltd (ASX:STK)also announced the discovery of similarmineralisation in 2023.
The FiveWheels Project is approximately36km north of these projects and isconsidered to exhibit similar geology.This is highlighted by historicexploration near the FiveWheels Projectexhibiting soil geochemistry up to 1,130ppm (~0.1%) Copper and 847 ppm Zinc.
Similarly, key geological unitsincluding the Yelma Formation and theFrere Formation have been intersectedin legacy drilling but not assayed 6.
Figure O1: Five Wheels Project Location
Heritage Agreements
TEM is pleased to announce the signing of a land access for exploration deed of agreement with MNR. Anexisting Land access agreement for exploration and prospecting already exists with the Marputu AboriginalCorporation RNTBC.
This is an excellent outcome as all granted tenure now has heritage agreements. TEM is looking forward toworking together with the traditional owners to progress the exciting exploration potential at the FiveWheelsProject.
Figure 02: Five Wheels Project Native Title Map
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This article includes content from Tempest Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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Tempest Minerals
Investor Insights
The continued positive outlook for gold, copper is creating a strong macro economic environment for Tempest Minerals supported by its highly prolific assets with potential for world-class deposits.
Overview
Tempest Minerals (ASX:TEM) is an exploration and development company based in Australia, with a diversified portfolio of mineral assets prospective for iron, gold, copper/base metals, rare earths (REE), lithium. The company has five projects located in prolific territories in Western Australia: Yalgoo (gold, copper, zinc, silver, iron ore, tungsten, rare earths and more), Mt Magnet (gold, REE), Five Wheels (gold, base metals) and Elephant (gold). Its flagship Yalgoo property is a large land package comprising several targets, located in the prolific Yalgoo Region of Western Australia. Tempest has defined a number of exceptional exploration targets and is currently progressing the newly discovered Remorse magnetite iron ore deposit.
Tempest Minerals is headquartered in Perth, Australia.
Tempest Minerals is led by an experienced board and management team with a history of exploration, operational and corporate success – key to executing the company’s mission to maximise shareholder value through focused, data and technology-driven asset exploration and development.
Company Highlights
- Tempest Minerals’ exploration and development projects are primarily located in Western Australia and highlight a multi-commodity strategy in regions with a strong mining history.
- The company’s strategy is to progress a project pipeline of high-growth assets utilising data driven and hands-on exploration and modern development methods.
- In 2024 TEM completed a 5,000-metre drilling campaign focused on the Remorse target at the company’s Yalgoo project leading to a significant new high-grade magnetite deposit discovery and exploration target.
- Work in 2025 will focus on developing the new discovery while conducting further exploration portfolio-wide to define additional targets.
Key Projects
Yalgoo Property
Tempest’s largely unexplored and 100-percent-owned Yalgoo property covers more than 1,000 square kilometres and is highly prospective for gold, base metals and iron with world-class potential. It is located four hours from Perth, close to major infrastructure and adjacent to world-class mines, including Golden Grove, Deflector, Mt Gibson, Minjar, Rothsay and Mt Mulgine.
The Remorse Target is a 5 km long exploration target where TEM completed an initial 4,005 meters of drilling in 2024 and identified a significant magnetite iron-ore deposit. The target also remains highly prospective for base metals.
Tempest also has a number of compelling exploration targets across the 1,000 sq km project including the Sanity target which is highly prospective for gold, with rock chip samples returning 7 grams per ton (g/t) gold, 0.2 percent copper, and more than 60 percent iron.
Mt Magnet
The 100-percent owned Mt Magnet project spans more than 20 square kilometres located within a world-class mining district and is 5 kilometres from a processing facility. A prolific mining destination with at least 6 million ounces of gold produced to date, the project is surrounded by multiple large-scale gold mines currently in operations, including Ramelius’ (ASX:RMS) Mt Magnet operations and Spartan’s (ASX:SPR) Dalgaranga. The project contains multiple drill targets, of which Wrangler will be a key focus of near-term work.
Elephant
The Elephant project is a 194 square kilometre property in the prolific Fraser Range region with large geological structures and multi-million-ounce targets. The project area itself has strong magnetic anomalies and an 8-kilometre gold in soil geochemical anomaly which could represent a large subsurface gold system.
Five Wheels
The 100-percent owned, 266-square-kilometre Five Wheels project is geologically similar to Rumble Resources’ zinc-lead-copper discoveries and sits within the boundaries of the Earaheedy Basin in Western Australia, a mineralised sedimentary basin. A major geophysics program is planned for the project, co-funded by the government.
Management Team
Brian Moller – Non-executive Chairman
Brian Moller specialises in capital markets, mergers and acquisitions, and corporate restructuring and has acted in numerous transactions and capital raisings in both the industrial and resources and energy sectors. He was a partner at the legal firm HopgoodGanim for 30 years and led the corporate advisory and governance practice. Moller acts for many publicly listed companies in Australia and regularly advises boards of directors on corporate governance and related issues. He is currently chair or a non-executive director of a number of ASX-listed companies and was critical in the progression of the high-profile LSE-listed SolGold PLC into becoming one of the largest copper-gold developments in the world.
Don Smith – Managing Director
Don Smith is a geologist and entrepreneur with over 20 years in the mining industry. He has worked in operational, development, exploration and consulting roles for junior through multinational firms intensively internationally on numerous commodities, including base and precious metals and energy minerals.
Smith’s corporate experience includes project acquisition, financing and development, and company management. He has been the founding director of a number of private and public resource companies, including the successful listings on the ASX of Platypus Resources and Alderan Resources. Smith has a Bachelor of Science from Newcastle University and a Master of Business Administration from the Australian Institute of Business. Smith now sits on the board of International Prospect Ventures (TSXV:IZZ) and is also working with a number of startups.
Andrew Haythorpe – Non-executive Director
Andrew Haythorpe has 30 years’ experience in geology and funds management and has been the director and chairman of a number of TSX and ASX listed companies. Since 1999, Haythorpe has been involved in over AU$300 million of mergers and acquisitions and capital raisings in mining and technology companies listed on the TSX and ASX.
He is currently the managing director at Allup Silica, Goldoz and Stunalara Metals, where he is also a founder. He has previously been a fund manager and analyst at Bankers Trust, an analyst at Suncorp (now a Top 20 ASX-listed company with some AU$96 billion in assets), and a director at Hartley Poynton. More recently, he was the managing director of Crescent Gold, leading that company from a junior explorer to a mid-tier producer within four years; and the managing director of Michelago Resources, which became one of the top-performing ASX-listed companies on its transition to gold production in China.
Owen Burchell – Non-executive Director
Owen Burchell is a mining engineer with 20 years of technical, operational and corporate experience, including management positions at Rio Tinto, BHP and Barrick Gold, as well as numerous mining start-ups, closures and operational turnaround projects.
Burchell holds several post-graduate business qualifications from the West Australian School of Mines and is the holder of a First Class Mine Managers Certificate of Competency. He is also a member of the Australasian Institute of Mining and Metallurgy and a graduate of the Australian Institute of Company Directors.
Burchell currently consults on numerous projects in the resource sector.
A diverse portfolio of projects in Western Australia that are prospective for precious, base and energy metals in addition to iron ore.
Grande Portage Resources
Investment Insight
With an established mineral resource and further significant exploration upside, the New Amalga gold project presents substantial opportunities for Grande Portage to advance the project, generate cash flow, and create shareholder value. The company’s ongoing exploration efforts and strategic partnerships enhance the potential for long-term growth and value appreciation.
Overview
Grande Portage Resources (TSXV:GPG,OTCQB:GPTRF,FSE:GPB) is a junior resource company focused on the exploration and development of its high-grade gold asset in southeast Alaska. The company’s flagship project, the New Amalga Gold project (formerly known as the Herbert Gold project), is located approximately 25 kilometers north of Juneau, within the prolific Juneau Gold Belt.
This historic 160-kilometer-long belt has yielded nearly eight million ounces of gold to date, and New Amalga represents one of the most prospective undeveloped gold systems in the region. The rebranding from Herbert Gold to New Amalga Gold reflects the company’s commitment to advancing and expanding its exploration and development efforts in this promising district.
Over the years, Grand Portage has significantly expanded its resource base through extensive exploration and drilling campaigns. The current mineral resource estimate, published in June 2024, outlines an indicated resource of 1.44 million ounces of gold at an average grade of 9.47 grams per ton (g/t) gold, and an inferred resource of 515,700 ounces at an average grade of 8.85 g/t gold. Additionally, the project hosts significant silver mineralization, with indicated resources of 891,600 ounces at 5.86 g/t silver and inferred resources of 390,600 ounces at 7.33 g/t silver. The deposit has demonstrated exceptional metallurgical recoveries of up to 98.2 percent, reinforcing its economic viability.
Grande Portage is led by an experienced management team with a strong background in exploration and project development. The team’s focus is on creating shareholder value through the advancement of the Herbert Gold Project while maintaining a commitment to environmental and community responsibilities.
Company Highlights
- Grande Portage Resources is a junior resource company advancing its high-grade New Amalga Gold project, located in a prolific gold belt in SE Alaska.
- Strong management team led by Ian Klassen who has 30 years’ experience in business management, public relations and government affairs, and Kyle Mehalek, former chief mining engineer at Hecla Mining’s Greens Creek Mine.
- The flagship New Amalga Gold project, located near Juneau, Alaska, boasts a measured and indicated resource of 1.44 million ounces at 9.47 g/t gold, and inferred resource of 515,700 ounces at 8.85 g/t gold.
Key Project
New Amalga Gold Project
The New Amalga Gold project (formerly, Herbert Gold project) is a high-grade mesothermal quartz vein system containing six or more known parallel gold-bearing vein structures. The project consists of 91 unpatented lode claims covering approximately 2,000 acres.
Grande Portage has completed extensive drilling campaigns, with more than 54,000 meters of diamond drilling across 240 drill holes from 55 platforms, confirming a large, structurally complex gold-quartz system. The deposit remains open at depth and along strike, highlighting strong potential for further resource expansion. Historical production in the broader district, including previous operations at the historic Amalga Mine, has demonstrated the potential for high-grade ore shoots. Modern exploration drilling has intersected robust mineralization in multiple vein structures, supporting the project's continued development.
Primary veins with geology
Grande Portage is committed to responsible mining practices that minimize environmental impact. The company prioritizes low-impact mining methods and is exploring off-site processing solutions to align with community concerns regarding environmental preservation in the Juneau area.
The company has filed its 2025 Plan of Operation, proposing up to 10,000 meters of diamond drilling, along with detailed geological mapping and trench sampling. These initiatives aim to expand the known mineralization, refine geological modeling, and identify new high-priority targets. To further optimize project economics, the company is advancing sensor-based ore sorting testwork to improve processing efficiency.
Additionally, a Letter of Intent has been signed with Goldbelt, Juneau’s Alaska Native Corporation, to explore strategic collaborations that could enhance the project’s development and operational sustainability.
Management Team
Ian Klassen – President and Director
Ian Klassen brings almost 30 years experience in business management, public relations, government affairs and entrepreneurship to the company. He has extensive experience in the administration of public companies, government policy, media relations strategies, business/government project management, and legislative decision-making. Klassen is an (Honours) B.A. graduate from Western University and is a recipient of the Commemorative Medal for the 125th Anniversary of the Confederation of Canada, in recognition of his significant contribution to his community and country.
Kyle Mehalek – Lead Mine Planning Consultant
Kyle Mehalek is the lead consultant at OreLogic, providing underground mine planning and project development services. Mehalek is the former chief mining engineer of Hecla Mining Company’s (NYSE:HL) Greens Creek Mine. More recently he was the chief technical officer for Talon Metals, a TSX-listed company advancing the Tamarack nickel project in Minnesota.
Michele Pillon – Chief Financial Officer
Michele Pillon has 25 years of experience in the junior mining exploration sector, providing accounting and regulatory assistance to public companies. Since May 1988, she has worked as an accountant to public companies in the resource sector.
Carl Hale – Director of Exploration
Carl Hale received his Bachelor of Science degree in geology from the University of Washington in 1972. He has worked the majority of his career on mineral exploration projects in Alaska and the Pacific Northwest for various mining companies and consulting groups. He supervised massive sulfide exploration projects in the Brooks Range, Alaska, mineral reconnaissance programs in the Alaska Range and Southeast Alaska, and is presently the project manager on a gold exploration venture in the United States. Mr. Hale spent several years as a mine geologist at the Cannon Mine, a large gold mine in Wenatchee, Washington, as a geologist at the Sunshine silver mine in Idaho, managed a copper exploration project at Bornite, Alaska for three years for Kennecott and served as a geologist on a gold exploration project in Myanmar.
Alistair MacLennan – Director
Alistair MacLennan has been working in the junior resources sector (oil/gas/minerals), in various capacities, for over 30 years. He has gained industry knowledge through founding, investment in and serving on the boards of a number of public and private exploration companies. MacLennan is also the chairman and director of Helijet International, a helicopter airline operating a fleet of Sikorsky S76 helicopters throughout the Pacific Northwest since 1986. MacLennan is actively involved in a number of private companies which are involved in leasing, manufacturing and natural gas production.
Ronald Handford – Director
Ronald Handford is a professional engineer (non-practicing) and is president of Handford Management, a private management services company. He has been a senior executive of Sixty North Gold Mining since September 2016. He was formerly the executive vice-president, corporate development for Yellowhead Mining. Handford holds a Master of Business Administration degree from Western University (1979) and a Bachelor of Applied Science in Civil Engineering from the University of British Columbia (1974). He has over 20 years of international experience as a mining and technology entrepreneur, executive and advisor, plus 15 years as an international mining project finance and corporate banker, including Barclays Bank and the International Finance Corporation; and six years as an engineer/project manager related to mining and resource projects.
Douglas A. Perkins – Director
Douglas Perkins is a geology graduate from the University of British Columbia. Perkins has served on public company boards for over 25 years involving the promotion and representation of their geological properties. He has been involved in several start-ups of both public and private companies not only geological but including manufacturing, wholesale and developmental industries. From an exploration standpoint, Perkins has worked on the Gataga Trend for Cyprus Anvil, where several multi-million-ton deposits were discovered. He also worked for UTAH, UMEX, Cominco and oversaw Freeport/ Stryker's exploration project in northern BC near the Windy Craggy deposit. Perkins has tropical experience in the jungle of the Darien Gap in Panama during 1988 to 1989. For the last two years he has been senior vice-president and director of GMV Minerals in Guyana South America.
Gold Price Hits New Record, Breaking US$2,975 for First Time
Gold price chart, March 6 to 13, 2025.
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These releases come as trade tensions between the US and other countries ramp up.
Tempers flared when Ontario Premier Doug Ford imposed a 25 percent surcharge on electricity exports to the US on Tuesday (March 11). Although the charges were withdrawn after the two sides agreed to meet in Washington on Thursday, there is still much uncertainty about Canada-US relations, as well as US relations globally.
Broad 25 percent tariffs on all steel and aluminum imports to the US went into effect on Wednesday. Canada quickly applied retaliatory tariffs on US$20 billion worth of goods, while the EU responded with tariffs on US$28 billion worth of goods. Trump had threatened to boost the tariffs on Canadian steel and aluminum to 50 percent, but backed down for now after Ford withdrew the 25 percent electricity surcharge.
Trump has also said he will impose further tariffs on auto imports by April 2, creating significant uncertainty for manufacturers and businesses that rely on cross-border trade.
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Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Tempest Minerals Investor Kit
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- Upcoming projects