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.
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.
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.
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.
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.
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.
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 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 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 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.
Pontax Lithium Project, James Bay, Canada
Cygnus Metals Limited (ASX: CY5, TSXV: CYG, OTCQB: CYGGF) is pleased to announce that it has negotiated a two-year extension to its two-stage earn-in with Stria Lithium Inc ("Stria") for the Pontax Lithium Project in James Bay, Quebec ("Pontax").
In July 2023, Cygnus announced that it had earned 51 per cent of Pontax under the first stage of the earn-in by spending C$4Â million on the project and issuing 9,129,825 fully paid ordinary shares in Cygnus ("Shares") to Stria.
As a demonstration of the co-operation between Stria and Cygnus, the parties have now agreed that Cygnus has an additional 24 months to satisfy the second stage of the earn-in and earn an additional 19% interest in Pontax, bringing its total interest to 70%.
The extension means that Cygnus has until October 2027 to expend an additional C$2Â million on exploration at the project and make a cash payment to Stria of C$3Â million, enhancing the likelihood of successful exploration outcomes at Pontax.
As consideration for the extension and subject to TSXV approval, Cygnus will shortly issue 300,000 Shares to Stria utilising the Company's available Listing Rule 7.1 capacity at a deemed price of A$0.105 per Share (based on the ASX closing price on 1 April 2025). These Shares will be subject to voluntary escrow for a period of 12 months from issue.
This announcement has been authorised for release by the Board of Directors of Cygnus.
David Southam
Executive Chairman
T: +61 8 6118 1627
E: info@cygnusmetals.com
About Cygnus Metals
Cygnus Metals Limited (ASX: CY5, TSXV: CYG, OTCQB: CYGGF) is a diversified critical minerals exploration and development company with projects in Quebec, Canada and Western Australia. The Company is dedicated to advancing its Chibougamau Copper-Gold Project in Quebec with an aggressive exploration program to drive resource growth and develop a hub-and-spoke operation model with its centralised processing facility. In addition, Cygnus has quality lithium assets with significant exploration upside in the world-class James Bay district in Quebec, and REE and base metal projects in Western Australia. The Cygnus team has a proven track record of turning exploration success into production enterprises and creating shareholder value.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Group Eleven Resources Corp. (TSXV: ZNG) (OTC Pink: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce that Franz Bollmann has been appointed to the Board of Directors. Mr. Bollmann has been nominated by Glencore Canada Corporation (which owns 16.1% of the Company) and will replace Gatlin Smeijers, who has stepped down from the Board, effective March 31, 2025, to pursue another opportunity.
Bart Jaworski, CEO of Group Eleven, commented: "We are delighted to welcome Franz to the team and look forward to working with him to further grow shareholder value. On behalf of the Company, I would also like to thank Gatlin for his valuable insights and guidance during his tenure as director and wish him the very best on his new endeavour."
Mr. Bollmann currently serves as Finance Manager at Glencore Zinc and as a Director of Glencore Servicios Corporativos Spain. Mr. Bollmann joined Glencore in 2014, working across finance, commercial, and business development roles in the Latam region. He also served as a director of Volcan Compañia Minera. Prior to joining Glencore, Mr. Bollmann worked in sales and trading at Raymond James in the United States. He holds a degree in Finance and a minor in Mathematics from the University of Arkansas.
About Group Eleven Resources
Group Eleven Resources Corp. (TSXV: ZNG) (OTC Pink: GRLVF) and (FSE: 3GE) is a mineral exploration company focused on advanced stage zinc exploration in the Republic of Ireland. Group Eleven announced the Ballywire zinc-lead-silver discovery in September 2022. Ballywire is located 20km from Company's 77.64%-owned Stonepark zinc-lead deposit1, which itself is located adjacent to Glencore's Pallas Green zinc-lead deposit2. The Company's two largest shareholders are Glencore Canada Corp. (16.1% interest) and Michael Gentile (16.0%). Additional information about the Company is available at www.groupelevenresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Bart Jaworski, P.Geo.
Chief Executive Officer
E: b.jaworski@groupelevenresources.com | T: +353-85-833-2463
E: j.webb@groupelevenresources.com | T: 604-644-9514
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This press release contains forward-looking statements within the meaning of applicable securities legislation. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/ reserves and geological interpretations. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.
1 Stonepark MRE is 5.1 million tonnes of 11.3% Zn+Pb (8.7% Zn and 2.6% Pb), Inferred (Apr-17-2018)
2 Pallas Green MRE is 45.4 million tonnes of 8.4% Zn+Pb (7.2% Zn + 1.2% Pb), Inferred (Glencore, Dec-31-2024)
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/246842
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FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") announces that further to its news release dated February 24, 2025 it has published the Report for the Awaruite Refinery Scoping Study (the " Study ") on its website at https:fpxnickel.comprojects-overviewawaruite-refinery .
The Study demonstrates a compelling business case for the development of a standalone refinery (the " Refinery ") to refine awaruite concentrate into battery-grade nickel sulphate for the electric vehicle (" EV ") industry, along with producing valuable cobalt, copper, and ammonium sulphate by-products. The Study has been prepared by Wood Canada Limited and all amounts are in US Dollars unless otherwise indicated.
Highlights
The Study reinforces the opportunity for the development of an integrated, made-in- Canada solution from mine-to-battery, utilizing awaruite concentrate as a lynchpin source of nickel, with conventional refining steps underpinning low-cost, low-carbon nickel production for use in domestic and allied country EV battery supply chains. The Study is described more fully in the FPX news release dated February 24, 2025 , and incorporates the flowsheet advancements outlined in the Company's previously reported pilot-scale hydrometallurgical testwork results (see the FPX news release dated October 15, 2024 ).
Andrew Osterloh , P.Eng., FPX's Senior Vice President, Projects and Operations, has reviewed and approved the content of this news release.
About FPX Nickel Corp.
FPX Nickel Corp. is focused on the exploration and development of the Baptiste Nickel Project, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron mineralization known as awaruite. For more information, please view the Company's website at https://fpxnickel.com/ .
On behalf of FPX Nickel Corp.
"Martin Turenne"
Martin Turenne , President, CEO and Director
Forward-Looking Statements
Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws, including those which relate to the proposed development of the Refinery, the intended processing of commercially available awaruite concentrate at the Refinery and the ability to obtain same; the projected economics of the Refinery, including capital cost; operating costs; NPV; IRR; carbon intensity; processing life; growth of the EV market; marketability of the concentrate; growth of demand for nickel sulphate and pricing therefor; and all other statements, other than statements of historical facts. These statements address future events and conditions and actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.
Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects', "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved". Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance and opportunities to differ materially from those implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements are set forth in the public reports and filings for FPX, filed on SEDAR+ at www.sedarplus.com . Although FPX believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, FPX disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE FPX Nickel Corp.
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