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Tempest Minerals
Investor Insights
The continued positive outlook for gold and 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 gold, copper, rare earths (REE), lithium and base metals. 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), Elephant (gold) and Rocky Hill (lithium). Its flagship Yalgoo property is a large land package comprising several targets, located in the prolific Yalgoo Region of Western Australia. Following extensive field exploration and a large geophysical survey, Tempest has defined two exceptional targets - Remorse (copper) and Sanity (gold) - which will be the focus of drill programs in the near term. A third drill target, Wrangler (gold), has also been identified in the Mt Magnet project.
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 main strategy is to promote a project pipeline coupled with hands-on exploration methods aimed at identifying high-growth assets.
- Tempest is embarking on a 5,000 metre drilling campaign at the Remorse target at its Yalgoo project that should generate positive news flow and provide near-term support for the stock.
- This year’s work will focus on delineating additional mineralised systems to define larger 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 and base metals with world-class potential. It is located four hours from Perth, close to major infrastructure and adjacent to world-class gold and copper mines, including Golden Grove, Minjar, Rothsay, Mt Mulgine and Deflector.
Tempest has identified two drill targets within Yalgoo, which will be the focus of near-term drilling and exploration work. The Remorse target is prospective for copper and features a 4-kilometre base metal anomaly, with extremely coherent surface geochemistry. The target will undergo a 5,000-metre drilling program in July. The Sanity target 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 Dalgaranga and Kirkalocka. 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 has been a partner at the legal firm HopgoodGanim for 30 years and leads 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.
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.
Aurum to Advance Metallurgical Studies for Boundiali Gold Project
This appointment marks the commencement of scoping study of the Boundiali Gold Project’s potential future development.
MIM’s appointment involves both an initial metallurgical testwork scope and possible ongoing works to PFS and definitive feasibility study (DFS) levels.
At the current Scoping level, MIM will:
- Design a testwork program suitable for a scoping study, mainly consisting of:
- Comminution (BWi, RWi, CWi, Ai, SMC) – oxide samples, transition samples and fresh samples.
- Gravity – oxide, transition and fresh samples followed by various variability samples.
- Grind establishment
- Leach – samples of oxide, transitional and fresh all at the optimum grind size.
- Perform regular reviews and gap analysis on the testwork program to update program if needed;
- Manage and monitoring the progress of the testwork at ALS in Perth;
- Evaluate the final scoping testwork results;
- Provide Scoping Level Process Design Criteria inputs into scoping study work;
- Design testwork program based on scoping study results to support further engineering work up to DFS level;
- Provide advice on tests to be carried out for feasibility study.
ALS Perth will undertake Comminution Tests and Cyanide Leach Testwork.
Managing Director Dr Caigen Wang said: “We are at the beginning of a very exciting phase of preliminary studies for our Boundiali Gold Project’s development. Metallurgical studies are scheduled in line with our overall gold resources definition, project scoping study and PFS. The outcome of this preliminary met study will form a critical part of the Boundiali Gold Project’s scoping study and PFS.
Aurum’s executive team enjoyed past collaboration with Mintrex and ALS Perth on metallurgical studies on Tietto Minerals’ Abujar Gold Project in Côte d’Ivoire from scoping to PFS and DFS and we look forward to this new collaboration on the very exciting Boundiali Gold Project also in Côte d’Ivoire.”
Aurum has extensive drilling programs underway at Boundiali, aimed at delivering an initial JORC Mineral Resource Estimate (MRE) in late CY2024. Aurum expects to complete 45,000m of diamond drilling in CY2024, currently with five AUE-owned and operated diamond drill rigs operating 24 hours for 6 days a week.
Preliminary gold recovery tests (ASX 22/7/2024) through bottle roll tests on 50 samples from Boundiali target BDT1 confirmed gold mineralisation is free milling, with cyanide leach recoveries consistently exceeding 93% for samples grading 0.25 g/t gold or higher. Results from the test work are encouraging, with calculated recoveries for oxidised samples ranging from 91% to 99%, averaging 97.5%. Samples above 0.25 g/t Au reported an average recovery of 93%. Fresh samples of all lithologies reported an average gold recovery of 90.3% (sandstone is the most common lithology) (Table 1).
Table 1: Average cyanide gold recovery at BDT1 by weathering and lithology
Aurum is well funded with ~$23M cash available after shareholders approved Aurum’s Tranche 2 of a $17M Share Placement announced in June and $3M SPP. Aurum received approval at the company’s General Meeting held on 6 August 2024.
Click here for the full ASX Release
This article includes content from Aurum Resources 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.
Mining to Commence at Phillips Find
HIGHLIGHTS
- Joint Venture (JV) Agreement executed with BML Ventures Pty Limited (BML) to develop and mine two open pits at Phillips Find
- Existing 200kt Toll Miiling Agreement executed with FMR Investments Pty Ltd (FMR) to be utilised for Phillips Find JV ore
- All management, technical, operational and maintenance roles to be undertaken by BML with oversight by the Company
- Low financial risk JV structure with BML to fund all project costs, with net cashflow after the asset recovery and repayment of costs to be split 50/50 between Horizon and BML
- Mining Proposal (MP) submitted to DMIRS and is currently under assessment
- Mobilisation and site establishment is imminent, with mining commencing in the September 2024 quarter subject to MP permit being approved
- First gold production planned for the December 2024 quarter, subject to permitting
- Processing at FMR’s Greenfields mill to be undertaken for a period of eight months under the Toll Milling Agreement
- Mining at Phillips Find is independent of mining at Boorara being treated at Norton Gold Fields’ Paddington mill, with production and cashflows now coming in from two production sources
- Current Australian gold price provides favourable environment to deliver strong margins and cashflow generation
Commenting on the JV agreement, Managing Director and CEO Mr Grant Haywood said:1
“We are pleased to have partnered up with BML Ventures, who have a proven track record of delivering projects in the eastern goldfields of Western Australia. BML will be managing and sole funding the Phillips Find JV which greatly derisks the project for the Company, particularly from a financial perspective. This agreement does not require any capital from Horizon and allows us to keep our focus on our Boorara startup. The Cannon Project will be paused until sufficient cash flows are generated from our two production sites, Boorara and Phillips Find, to sole fund rather than joint venture.
We look forward to generating cash over the next 19 months from two gold mining projects in this very strong gold price environment.”
Overview
The proposed mining project is 100% owned and located 45 km north-west of Coolgaride, Western Australia in the heart of the Western Australian goldfields (Figure 1).
Figure 1: Horizon’s project locations, regional geology and surrounding infrastructure
Phillips Find Overview
The Project covers over 10 kilometres of strike over prospective greenstone stratigraphy and includes the Phillips Find Mining Centre (PFMC) where approximately 33,000 ounces of gold has been produced between 1998 and December 2015 from three open‐pit operations; Bacchus Gift, Newhaven and Newminster.
Click here for the full ASX Release
This article includes content from Horizon Minerals, 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.
Zone 3 2024 Drilling Program Commenced
Heritage Mining Ltd. (CSE: HML FRA:Y66) (“Heritage” or the “Company”) is pleased to announce that the 2024 drilling program has started over the weekend at Zone 3. The program will focus with historical confirmation drilling and SGH soil target testing.
Highlights:
- Zone 3 Drill Program Start (Figure 1)
Figure 1: Zone 3 2024 drill program, August 5, 2024
“We are very excited to have the drill turning at Zone 3. The mineralization from the first hole is very encouraging supporting our internal model, we are right where we want to be. More updates to come in the very near future.” Commented Peter Schloo, President CEO and Director of Heritage.
Qualified Person
Mitch Lavery P. Geo, Strategic Advisor for the Company, serves as a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed the scientific and technical information in this news release, approving the disclosure herein.
ABOUTHERITAGEMININGLTD.
The Company is a Canadian mineral exploration company advancing its two high grade gold-silver-copper projects in Northwestern Ontario. The Drayton-Black Lake, Contact Bay and Scattergood projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt. The projects benefit from a wealth of historic data, excellent site access and logistical support from the local community. The Company is well capitalized, with a tight capital structure.
For further information, please contact:
HeritageMiningLtd.
Peter Schloo, CPA, CA, CFA
President, CEO and Director
Phone: (905) 505-0918
Email: peter@heritagemining.ca
FORWARD-LOOKING STATEMENTS
This news release contains certain statements that constitute forward looking information within the meaning of applicable securities laws. These statements relate to future events of the Company. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “forecast”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “outlook” and similar expressions are not statements of historical fact and may be forward looking information. All statements, other than statements of historical fact, included herein are forward-looking statements.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include, among others, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company’s estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents, risks related to geological uncertainties and variations; risks related to government and community support of the Company’s projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update any forward‐looking information except as required by law.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States, or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.
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Canadian Gold Corp. Makes New Gold Discovery Next to Agnico Eagle's Hammond Reef Deposit Samples 35.4 and 7.1 gpt Gold
Canadian Gold Corp. (TSXV: CGC) ("Canadian Gold" or the "Company") is pleased to provide an exploration update on its 100% owned Hammond Reef South Project, located near Atikokan, Ontario, and adjacent to Agnico Eagle's fully permitted Hammond Reef Project (Fig. 1). Hammond Reef South was acquired in 2023 as part of the Company's strategy of acquiring prospective mineral rights around Canada's largest mines and development projects, which provides additional optionality for shareholders beyond the exploration drilling currently taking place at the Tartan Mine in Manitoba.
Highlights
- Surface sampling returns 35.4 and 7.1 gpt gold at Hammond Reef South, in addition to other gold-bearing samples, discovering a new high-grade zone approximately 2 km from Agnico Eagle's Hammond Reef Deposit, which is one of the few fully permitted mine projects in Canada (Fig. 1).
- The Hammond Reef South Project had its exploration permit approved on July 24, 2024, which allows for drilling, trenching and ground geophysical work.
- The Company has applied for the Ontario Junior Exploration Program grant, which provides for 50% reimbursement for exploration expenses up to $200,000.
- Follow-up field work is scheduled to begin this week.
Hammond Reef South Project
During June of this year, a field program was initiated on the property to evaluate the surface for gold mineralization. The program successfully identified a new high-grade gold zone with assays returning 35.4 gpt, 7.1 gpt, and 2.9 gpt gold (Table 1 & Fig. 2). The Hammond Reef South property is located only 2 km from Agnico Eagle's Hammond Reef Deposit, which contains a large mineral resource of more then 5 million ounces of gold and occurs in the same geological environment (Fig. 1).
Table 1. Hammond Reef South Surface Sample Highlights
| Sample Number | Easting | Northing | Gold g/t |
| 473583 | 612360 | 5418397 | 35.4 |
| 473584 | 612356 | 5418401 | 7.1 |
| 473586 | 612358 | 5418405 | 2.9 |
Gold mineralization at the new zone occurs within a large gossanous shear-hosted quartz vein with up to 10% sulphides, mainly pyrite with accessory chalcopyrite and galena, discovered in the Northeast part of the property (Fig. 2). The vein was at least 2 metres in width and exposed for more than 10 metres along strike which remains open to the Northeast and Southwest. The strike of the vein, its mineralization and geological setting is analogous to Agnico Eagle's Hammond Reef Deposit to the north. Recent and historic surface samples are now revealing a very large 6.7 km trend of gold mineralization across the Hammond Reef South property representing a potentially significant discovery (Fig. 3).
A follow-up program has been scheduled, and will commence this week that aims to evaluate the length, width and distribution of grade at the discovery zone. The Company has also applied for the Ontario Junior Exploration Program grant, which, if accepted, would provide a 50% reimbursement for exploration expenses up to $200,000 for the project.
President and CEO Michael Swistun comments: "We are very excited with the discovery of high-grade gold on the Hammond Reef South property. We were prospecting the property looking for large, low-grade gold system like the Hammond Reef Deposit next door and this gives us a new and exciting opportunity to follow up on."
For Further Information, Please Contact:
Michael Swistun
President & CEO
Canadian Gold Corp.
(204) 232-1373
info@canadiangoldcorp.com
Qualified Person
The scientific and technical information disclosed in this news release was reviewed and approved by Wesley Whymark, P. Geo., Consulting Geologist for the Company, and a Qualified Person as defined under National Instrument 43-101.
Technical Information
The samples collected by Canadian Gold Corp. described in this news release were transported in secure sealed bags for preparation and assay by Act Labs in Thunder Bay, Ontario. The samples reported were crushed in their entirety to 80% passing -10 mesh, with one 500 g subsample split and pulverized to 95% passing 150 mesh. One 50 g aliquot was taken from the subsample for fire assay (FA) with an AAS finish. Samples over 5 g/t gold were subject to a 50 g aliquot FA with gravimetric finish.
About Canadian Gold Corp.
Canadian Gold Corp. is a Toronto-based mineral exploration and development company whose objective is to expand the high-grade gold resource at the past producing Tartan Mine, located in Flin Flon, Manitoba. The historic Tartan Mine currently has a 2017 indicated mineral resource estimate of 240,000 oz gold (1,180,000 tonnes at 6.32 g/t gold) and an inferred estimate of 37,000 oz gold (240,000 tonnes at 4.89 g/t gold). The Company also holds a 100% interest in greenfields exploration properties in Ontario and Quebec adjacent to some of Canada's largest gold mines and development projects, specifically, the Canadian Malartic Mine (QC), the Hemlo Mine (ON) and Hammond Reef Project (ON). The Company is 35% owned by Robert McEwen, who was the founder and CEO of Goldcorp and is Chairman and CEO of McEwen Mining.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release of the Company contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Canadian Gold's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.
Figure 1. Overview location of the Hammond Reef South property illustrating the location of Agnico Eagle's Hammond Reef Deposit.
Figure 2. Location of the new high-grade discovery on the Hammond Reef South property.
Neptune GBX: Full Service Precious Metals Dealer and Exchange Operator
Neptune GBX, a trusted partner for wealth management solutions, is a full-service precious metals dealer, and exchange operator in Wilmington, Delaware. Founded in 2002, the company has been building its reputation in the precious metals industry consistently expanding its services and expertise to meet the evolving needs of its diverse clientele. Neptune GBX focuses on first-class cost-efficient solutions, establishing itself as a knowledgeable and reliable partner in this specialized market.
Neptune GBX's combination of expertise, innovative products, and client-centric approach positions it as a distinctive and valuable partner in the precious metals investment sector.
$100,000 investment with 10% ROI compoundedNeptune GBX's value proposition centers on empowering clients through education and insightful market analysis. The company places a strong emphasis on client education. By providing clients with essential knowledge and tools, Neptune GBX enables them to navigate the precious metals investment landscape with confidence.
Company Highlights
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This Neptune GBX profile is part of a paid investor education campaign.*
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