Tempest Minerals : Meleya - Further mineralisation at the Orion discovery

ASX : TEM

2022-04-04 | Meleya further mineralisation

TEM | Meleya Update - Further mineralisation drilled at the Orion discovery

Key Points

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• ● Program completed with second hole (WARDH73) drilled to 1021.4 metres

• ● Multiple thick zones of enrichment and alteration throughout entire drillhole

• ● Several zones potentially extend those in previous drillhole (WARDH72) by 300m

• ● Extensive copper mineralisation observed including presence of bornite

News Item

Tempest Minerals Ltd (TEM) is pleased to update the market on the progress of drilling at the Company's 100% owned Meleya Project. The second hole (WARDH73) drilling has been completed at a depth of 1021.4 metres.

WARDH73 has intersected further broad intermittent zones of mineralisation throughout the hole. Initial observations of the core include zones potentially congruent with those observed in the initial hole (WARDH72).

Initial visual observations include:

• ● 400m from 18.5m of strongly altered intrusives with widespread bleb and veinlet style sulphides (chalcopyrite and pyrite with occasional bornite)

• ● 3 zones of magnetite +/- chalcopyrite mineralisation from 466m (consistent in composition with those observed in the top of WARDH72)

• ● 12m of semi massive magnetite +/-sulphide from 587m

• ● 16m of disseminated sulphides from 804m.

• ● Broad zones of disseminated sulphide and strongly potassic altered intrusives zone from 911 metres to end of hole.

* The Company cautions that visual mineralisation estimates in the field - even when accompanied by pXRF values - are indicative only and are considered subordinate to conventional laboratory analysis. The assay results for the core are yet to be received.

The Meleya Project is located in the Yalgoo region of Western Australia which hosts numerous high profile mining operations.

Tempest announced in March 2022 that it was commencing a two-hole diamond drilling program, co-funded by the WA State Government as part of the Exploration Incentive Scheme (EIS), designed to stimulate new mineral discoveries. The first hole (WARDH72) in this program was drilled ~300m to the northwest to a target depth of 709m at the Orion Target within which it intercepted significant mineralisation 1.

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Address: Level 2, Suite 9, 389 Oxford Street, Mt Hawthorn, WA 6016

ASX : TEM

2022-04-04 | Meleya further mineralisation

Yalgoo Mineral Field

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The Yalgoo Greenstone belt is an extremely fertile mineral field with an array of mineralisation styles, including: Intrusion Related Gold (IRG), Lode Hosted / Orogenic gold, Skarn and Iron Ore. This has driven the emergence of an array of multi-commodity world class mines across in the region including: Golden Grove Copper/Zinc/Gold/Silver Mine (29 Metals - ASX:29M), Rothsay and Deflector Gold/Copper Mines (Silverlake - ASX:SLR), Minjar Gold, The Karara Iron Ore Mine, Mt Mulgine Gold/Tungsten (Tungsten Mining - ASX:TGN), Mt Gibson Iron (ASX:MGX), Mt Gibson Gold (Capricorn ASX:CMM).

Figure 2: Overview of the Yalgoo Belt with mines and TEM Projects

ASX : TEM

2022-04-04 | Meleya further mineralisation

Meleya Project

Background

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The Meleya Project is part of Tempest Minerals flagship Yalgoo Portfolio that extends over a footprint of more than 900km2. Tempest has for some time considered the target zones at Meleya to represent one of the most exciting greenfields base and precious metal upside exploration opportunities in the industry today. TEM identified more than 50 km of strike length of a previously unrecognised and unexplored segment of the Yalgoo Greenstone Belt which currently hosts a number of world class mines.

In 2019, while studying the nearby Warriedar Intrusive Related Gold occurrence (to the west of Meleya), the TEM technical team noted discordant geophysical signatures which did not correlate with existing geological maps of the region. This was interpreted as a possible extension of the Yalgoo Greenstone belt and potentially the well documented Golden Grove stratigraphy which sits adjacent.

In 2020, wide-spaced mapping and surface sampling over the greater Meleya Project area identified large outcrops of metamorphosed supracrustal mafic and felsic 'greenstones' which appeared to support the new interpretation. These units were interpreted to have been wrapped around a shallow intermediate intrusion known as the Walganna Suite.

Figure 3: Evolution of the Meleya Project (Legacy map, outcrop, 2021 interpreted geology and targets)

Results of the surface geochemistry indicated the presence of multiple large dispersed gold and base metal anomalies 2 . Additional whole rock geochemistry studies along the interpreted strike of the target zone confirmed the strong prospectivity of the project. Several samples of the felsic-intermediate rock assayed exhibited a strong geochemical signature correlation to those of the Golden Grove formation 3 .

Merging and reprocessing of a number of legacy magnetic datasets 4 into a new regional model provided additional understanding of the Meleya Project area with particular value in the insights provided in structural geology.

The outcome of this work was the identification of a number of multiple coincident geophysical and geochemical anomalies including the 'Orion' target which has been the focus of the recent drilling.

ASX : TEM

2022-04-04 | Meleya further mineralisation

Drilling

Overview

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Tempest announced in February 2022 5 the commencement of a two-hole diamond drilling program co-funded by the WA State Government EIS initiative 6 which is designed to stimulate new mineral discoveries.

2 drill holes were completed (WARDH72 and WARDH73) for a total of 1,730.5m, drilling north-east to test the underlying stratigraphy of the magnetic high and geochemical anomaly present at the Orion target.

Figure 4: Plan View of holes WARDH72 and WARDH73 at the Orion target shown on Geophysical Aeromagnetic Survey (TMI-sun45)

Activities

Drilling of WARDH73 and all associated post drilling site works including insertion of downhole casing (for future downhole geophysics) and demobilisation was completed at the end of March. Detailed geological logging is currently underway, with core cutting and initial submissions to the labs expected during April.

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ASX : TEM

2022-04-04 | Meleya further mineralisation

Figure 5: DDH1 rig during the drilling of WARD073

Geology

Holes WARDH72 and WARDH73 have verified the existence of the interpreted stratigraphy including the Walganna instrusives, Big Bell intrusives and Yalgoo Greenstones including stratigraphy strongly resembling those of the Golden Grove Formation.

Hole WARDH73 was offset approximately 300m across strike and 50m along strike (i.e. drilled underneath and to the side of WARDH72). This has enabled the 2 holes to cover a relatively large segment of the target both along strike and at depth. The two holes have also allowed the identification of multiple potentially correlatable stratigraphic units or 'marker horizons'. This means that the mineralisation (of which at least some appears to be stratiform) can be traced between the two drill holes with greater confidence .

The Walganna intrusion to the west (observed in the upper portion of WARDH73) was found to contain semi-continuous and significant copper sulphides from the surface to ~400m.

Initial logging appears to confirm the presence of an intense hydrothermal alteration system with an abundance of magnetite, biotite, epidote, k-feldspar, quartz, calcite and hematite throughout the geological sequence. This alteration likely coincided with or introduced the deposition of at least some of the sulphidic and other metallic minerals. Some of the alteration is consistent with other significant mineralised systems observed at nearby mining operations in the region.