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Tempest Minerals Ltd (TEM) is pleased to update the market on the status of planned drilling at the Company’s Remorse Target. TEM has received all the necessary regulatory approvals to commence drilling at the Remorse Target and has completed preparations. TEM expects to commence drilling in mid July 2024 (weather permitting) as Earthworks has been delayed due to inaccessibility as a result of heavy rainfall and partial flooding of the area.
Key Points
- Approvals received for drilling
- Preparation complete and field team ready to commence program
- Earthworks and drilling to commence immediately upon safe weather and ground conditions
Yalgoo Project
Background
The Remorse Target is located on the eastern side of the Company’s flagship Yalgoo Project. TEM has previously noted the presence of large-scale copper-zinc geochem and geophysical anomalies 1 and the intention to drill test these 2. An extensional geochem survey was also recently completed at the target 3.
Status
All the necessary regulatory approvals to commence drilling at the Remorse Target have been received. TEM continues to work closely with the traditional owners 4 to ensure cultural heritage is respected. All preparation is complete and the Tempest team eagerly awaits ground and weather conditions to improve so Earthworks and drilling can commence as soon as possible.
Next Steps
- Initial 5,000m RC drilling program planned for mid-July
- Results of recent geochem survey expected mid-July
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.
TEM:AU
Alice Queen: Exploring High-grade Epithermal Gold with Near-term Production Potential
Alice Queen (ASX:AQX) is a gold exploration company focused on district-scale discoveries and near-term production opportunities. Its flagship asset is the Viani Gold Project in Fiji, where early drilling indicates a major epithermal gold system, comparable to other systems along the Pacific Ring of Fire. Fiji itself hosts the 10 Moz Vatukoula Gold Mine, underscoring the region’s proven prospectivity. With a portfolio spanning both the Pacific Ring of Fire and Australia’s most prolific gold belts, Alice Queen combines strong geological potential with strategic access to capital.
The company’s secondary asset, Horn Island, hosts over half a million ounces of gold in a JORC-compliant resource. A 2021 scoping study indicated an NPV of more than AU$500 million, based on an internal update using AU$5,000/oz gold. Ongoing discussions with development partners aim to unlock value from this project, which has the potential to generate over AU$800 million in free cash flow across an eight-year mine life.
Alice Queen’s shareholder base is anchored by Gage Resource Development (51 percent) and supported by significant, well-funded Australian investors with a long-term outlook. The company is advancing a balanced strategy focused on drilling success, strategic partnerships, and asset-level monetization.
Company Highlights
- High-impact Discovery at Viani in Fiji: Drilling at the Viani project has confirmed a significant low-sulphidation epithermal gold system with mineralization over a ~5 km strike, with assay results from recent drilling expected imminently.
- Established Gold Resource at Horn Island: The Horn Island project hosts a 524,000 oz JORC-compliant gold resource and is being advanced through potential development partnerships, offering near-term monetization opportunities.
- Strategic Financial Backing: Backed by major shareholder Gage Resource Development, a subsidiary of Beijing-based Gage Capital (US$1.6 billion AUM), ensuring access to growth capital and long-term support.
- Exceptional Leadership: Led by a highly experienced management team with a successful track record in global business and resource development.
This Alice Queen Limited profile is part of a paid investor education campaign.*
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