USD $4,165.18
Goldman Binding agreement secures four advanced gold projects across prolific North Island epithermal belts
Tempest Minerals Ltd (ASX:TEM) has entered into a binding agreement to acquire Zealandia Resources Pty Ltd, securing a portfolio of four advanced gold projects covering 145km² in New Zealand’s North Island.
The projects are located within the Taupo Volcanic Zone and the Hauraki Goldfields — two well-known gold provinces hosting multiple epithermal gold systems. The Hauraki Goldfields alone have produced more than 15 million ounces of gold historically and are recognised for high-grade epithermal gold-silver deposits.
Under the proposed transaction, Tempest will acquire the portfolio through a $2 million all-scrip deal, with potential additional consideration tied to performance milestones.
The acquisition adds several drill-ready targets across four project areas. According to the company, the assets come with an extensive historical dataset including gravity and magnetic surveys, surface geochemistry, rock chip sampling, historical drill holes and reprocessed geophysical data. Recent geological interpretation has also defined multiple targets in known gold-bearing areas.
The Taupo Volcanic Zone is regarded as an emerging gold exploration region, hosting several epithermal systems similar to those found in other major gold belts. Tempest believes the acquisition complements its existing Australian portfolio while providing exposure to a highly prospective geological setting.
Tempest Minerals Managing Director Don Smith
The proposed Tempest acquisition of Zealandia adds to our existing portfolio in Australia and positions us to leverage the strategic value of the prospects in both countries for the benefit of shareholders. We are certainly excited by the opportunity to acquire drill-ready targets in a proven gold-bearing region. The high-profile geological consulting team have just completed a round of fieldwork and are seeing geological analogies to other large gold deposits in the region.
Zealandia Executive Director Shaun Ramsden
The proposed acquisition by Tempest represents a strong validation of the quality of our New Zealand gold portfolio, which we have strategically assembled. We think the combination of our respective skill sets is ideal to accelerate exploration and unlock the full potential of the projects.
