The Tempiute project is located in Nevada, USA, approximately two hours from Las Vegas. The Tempiute/Emerson Mine produced for over 60 years and was one of the largest producers of tungsten in the USA until the early 1980’s. The project benefits from high grade mineralisation (0.4% WO3) over one and a half miles along strike and nearly a ¼ mile vertically, with high grades of 0.4% W03. A Chinese flood of tungsten dropped the price of tungsten and closed the mine in the 1980s. At the time of closing the operator, Union Carbide, had several new exploration targets.
Recent data compilation has confirmed the scale and strength of the Tempiute Tungsten mineralising system. The deposit has been mined for 60 years with reported 200,000 feet (60,000m) of underground workings which span 1,200 feet (360m vertically).
In addition to the skarn type mineralisation that has been mined, mineralised breccia pipe and intrusive copper porphyry type systems will be subject to exploration by the Company. Union Carbide in the 1980’s indicated that adding circuits for base metal recoveries could add significant value and studies were to start on this when the mine closed.
The intrusion that is the cause of the tungsten mineralisation may have potential for classic porphyry copper mineralisation. Heavy fracturing and copper mineralisation was observed by the Company during the site visit and porphyry potential is referenced in multiple historical reports but was ultimately not systematically assessed. An evaluation of the porphyry potential with a deposit type specialist is in progress, with site visits to be conducted in short order.
Given the scale of the mineralising system and the ready infrastructure on site, the modest establishment of near surface open-pittable resources will be one of the key focusses going forward. Potential co-products of copper, zinc, silver as well as gallium and germanium are also all being investigated. A large historical data set is planned to be acquired and compilation of this data will set up planning for a large scale drilling program targeted on re-establishing resources.
Since acquisition, the operator, Guardian Metal Resources, has significantly expanded the project footprint by adding circa 50 new claims, all of which are covered by Apex’s royalty.
A Chinese flood of tungsten dropped the price of tungsten and closed the mine in the 1980s. At the time of closing the operator, Union Carbide, had several new exploration targets.
Given the strength and size of the mineralising system observed, the significant permitting advantages associated with patented mining claims, and the existence of robust in-place usable infrastructure, Guardian Metal has designated Tempiute as a co-flagship asset and as such it will be advanced and derisked towards production in parallel with Pilot Mountain.
The existing infrastructure, including but not limited to ore loading facilities, mill & concentrate buildings, foundations, load out bays, and water pipes & pumps, were evaluated and are considered usable for potential future operations.
Tonnage for a rapid restart and re-use of the existing infrastructure will be the target of 2025 exploration.
Apex holds an uncapped 1.5% net smelter royalty that covers all of the claims that make up the Tempiute project. Guardian Metal Resources plc has a right to repurchase 0.75% of the royalty which we expect to be exercised; when and if exercised, all consideration will be paid over by Apex to the vendor of the royalty.
