Tempest Minerals has announced the proposed acquisition of Zealandia Resources Pty Ltd, securing an advanced gold exploration portfolio covering 145 km² in New Zealand’s North Island.
The portfolio comprises four gold projects located within the Taupō Volcanic Zone and the Hauraki Goldfields, two regions recognised for hosting significant epithermal gold systems and historic high-grade gold production.
The acquisition marks an important step in expanding Tempest’s exploration footprint beyond Australia and provides the Company with exposure to a highly prospective gold province.
A Portfolio of Drill-Ready Gold Targets
The Zealandia portfolio includes four projects — Matahana, Hossack, Ohakuri West and Puriri — each demonstrating geological indicators consistent with epithermal gold systems.
Across the portfolio, previous exploration and geological interpretation have identified multiple drill-ready targets, supported by extensive historical datasets including:
Gravity and magnetic surveys
Surface geochemistry
Rock chip sampling
Historical drill data and reprocessed geophysical datasets
These datasets have allowed geologists to define several priority exploration targets in known gold-bearing environments.
Strategic and Low-Cost Acquisition
Under the terms of the agreement, Tempest will acquire Zealandia through a $2 million all-scrip transaction, with additional performance shares linked to future exploration milestones.
These milestone payments are tied to exploration success, including:
Significant drilling intersections
The definition of a JORC-compliant gold resource
Larger resource development milestones
This structure aligns the interests of both parties and incentivises exploration success as the projects advance.
Tempest Managing Director Don Smith commented
“The proposed acquisition adds to our existing portfolio in Australia and positions Tempest to leverage the strategic value of 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.”
Watch Don’s full brief via the TEM Youtube Channel Here
What Happens Next
The proposed acquisition remains subject to due diligence, regulatory approvals and shareholder approval.
Over the coming months Tempest plans to progress:
Completion of technical and financial due diligence
Finalisation of transaction documentation
Further fieldwork across the New Zealand projects
Planning for potential drilling programs
Read the full ASX announcement: HERE
