Tempest Minerals (ASX:TEM) Begins Metallurgical Testing for Remorse Magnetite Discovery

Highlights

• Over 5 tonnes of drill samples collected from a recent drilling campaign have been sent for metallurgical testing.
• Initial results, expected by March 2025, are likely to contribute to future project studies and development planning.
• Preparation is underway for additional drilling and on-site field assessments at the Remorse Project.

Tempest Minerals Ltd (ASX:TEM) has launched metallurgical testing for its Remorse magnetite iron discovery in Western Australia. More than five tonnes of samples collected from a recent drilling program have been submitted to the IMO Metallurgical Testing Laboratory for analysis. The testing will assess multiple factors including grindability and recoveries.

This development aligns with broader strategy of the company to accelerate development at the Remorse deposit which could potentially establish the company as a key supplier in the iron and steel industry.

The metallurgical testing will provide the framework for continuing economic studies and could accelerate the Remorse deposit’s development towards production. Tempest anticipates initial results in the first quarter of 2025, with full testing and the technical metallurgical study report expected to be completed in the second quarter of 2025.

Recent developments at Remorse Deposit

TEM’s flagship project, Yalgoo Project, spans over 1,000 km² and neighbours established ASX-listed iron, gold, and base metal producers such as 29 Metals Ltd, Tungsten Mining NL, Spartan Resources Ltd, and Fenix Resources Ltd.

The Remorse deposit, a high-grade magnetite iron ore prospect within the Yalgoo Project, had intersected high-grade iron mineralisation with grades reaching up to 39% Fe, during the drilling concluded at the end of 2024. Further assessment of the drilling revealed an exploration target, aligning with grades and tonnages found in other producing magnetite mines in Western Australia. The exploration target also highlighted the project's strong upside potential.

Tempest recently signed a Memorandum of Understanding (MOU) with Green Steel and Iron Pty Ltd to explore development opportunities for the Remorse deposit. The partnership focuses on producing high-grade magnetite concentrate to support sustainable steelmaking.

Beyond metallurgical testing, further drilling and exploration activities are planned for the first half of 2025 to enhance the understanding and development of the Remorse deposit.

Details of metallurgical testing

During 2024 drilling program, all relevant samples were taken across the strike length of the deposit to ensure that they can be compiled to create representative samples for orebody characterisation.

The collected samples will undergo composite preparation and processibility testing. Key analyses will include:

• Generation of seven representative drill hole composite samples with two variation composites
• Head assay analysis
• Bond Ball Work Index (BBWi)
• Grind establishment at different sizes
• Davis Tube Recovery (DTR)
• Assay analysis of product

TEM shares were trading at AU$0.005 per share at the time of writing on 13 February 2025.