Tempest Minerals has signed a binding agreement to acquire Zealandia Resources, marking a significant expansion into New Zealand's gold mining sector.
The acquisition includes four gold projects spanning 145km² within the North Island's Taupo Volcanic Zone and the Hauraki Goldfields. These projects are strategically situated in regions known for extensive gold production.
This deal, valued at $2m (A$2.85m) entirely in shares, offers additional potential for performance-based milestones.
With a history of high-grade epithermal gold-silver mining, the Hauraki Goldfields, in particular, have produced more than 15 million ounces (moz) of gold to date.
The Taupo Volcanic Zone is also recognised as an emerging hub for gold exploration, hosting numerous epithermal gold systems.
The acquisition includes a comprehensive historical data set featuring gravity surveys, magnetics, surface geochemistry, rock chip analyses, and drill-hole records.
Recent geological assessments have highlighted multiple drill-ready targets across these known gold-bearing areas.
Tempest Minerals managing director Don Smith said: “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, an Australia-based company, has been actively exploring high-potential gold deposits in New Zealand.
Recognising new regulatory opportunities within the country's mining sector, the company moved to secure several promising exploration packages.
Zealandia executive director Shaun Ramsden said: “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.”
