Tempest Minerals reports maiden drilling success at its Remorse target, revealing significant high-grade magnetite and base metal anomalies with an initial exploration target of up to 110 million tonnes at 30-32% iron.
- Maiden drilling at Remorse intercepts high-grade magnetite up to 39% Fe
- Exploration target estimated between 50-110 million tonnes at 30-32% Fe
- Remorse deposit located near existing infrastructure in Yalgoo, WA
- Ongoing base metals prospectivity with anomalous copper zones identified
- Further technical studies and drilling planned for 2025
Exploration Breakthrough at Remorse
Tempest Minerals Ltd (ASX: TEM) has delivered a promising update in its December 2024 quarterly report, highlighting maiden drilling results at the Remorse target within its flagship Yalgoo project in Western Australia. The initial reverse circulation (RC) drilling program, comprising over 4,000 metres, has intersected multiple zones of high-grade magnetite with iron grades reaching up to 39%, alongside anomalous base metals, particularly copper.
This discovery marks a significant milestone for Tempest, as the Remorse deposit emerges as a potentially large magnetite resource conveniently situated near existing mining infrastructure and operations. The company has outlined an initial exploration target ranging from 50 to 110 million tonnes at an iron grade between 30% and 32%, a substantial volume that could underpin future resource estimation and development.
Strategic Location and Regional Context
The Yalgoo region, where Remorse is located, is a prolific mineral province hosting a variety of commodities including gold, base metals, and iron ore. Tempest’s landholding exceeds 1,000 square kilometres and neighbors several high-profile ASX-listed companies active in base metals and gold exploration. The proximity to established operations such as Karara and Sino’s iron ore projects enhances the strategic value of the Remorse discovery.
Tempest’s data-driven exploration approach has identified multiple prospective zones within the project area, with Remorse standing out due to its strong geochemical signatures and geological setting. The recent drilling has confirmed the presence of thick magnetite zones, with highlights including 32 metres at 30% Fe and narrower intervals grading above 34% Fe, indicating robust mineralisation continuity.
Base Metals Potential and Broader Portfolio
Beyond iron, the Remorse drilling has revealed highly anomalous copper zones, reinforcing the target’s polymetallic potential. This dual commodity prospectivity could enhance the project’s economic viability, especially as global demand for both iron and base metals remains strong.
Tempest’s broader portfolio includes other promising projects such as Five Wheels and Elephant, which remain under-explored but share geological similarities with significant regional discoveries. The company is also advancing exploration planning at the Sanity and Wrangler targets, aiming to build on its recent successes.
Financial Position and Forward Plans
During the quarter, Tempest invested over A$1.1 million in exploration and evaluation activities, reflecting its commitment to advancing the Remorse deposit and other projects. The company ended the period with cash reserves of approximately A$543,000 and has indicated plans to raise additional funds in early 2025 to support ongoing drilling and technical studies, including metallurgical testing and resource modelling at Remorse.
Management remains confident in its strategy to leverage data-driven exploration and prioritise high-potential targets, aiming to maximise shareholder value through disciplined capital allocation and systematic project advancement.
Outlook
Tempest Minerals is poised to enter a critical phase of exploration and development, with the Remorse magnetite discovery providing a tangible foundation for growth. The company’s ability to secure further funding and deliver on its technical milestones will be key to transforming this exploration success into a viable mining operation.
Bottom Line?
Tempest’s Remorse discovery sets the stage for a pivotal year of exploration and funding as it seeks to unlock significant iron and base metal resources.
Questions in the middle?
- Will further drilling confirm the continuity and scale of the Remorse magnetite deposit?
- How will Tempest balance exploration across its diverse project portfolio amid funding constraints?
- What metallurgical characteristics will the Remorse magnetite exhibit, and how might they impact development plans?